Bitcoin’s Rise Neutralizes Bearish Mood - page 2.

jakelyson

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Quote from: CryptoBry on October 22, 2019, 07:15:47 AM

I was actually nervous for the past two days as I was watching Bitcoin teetering towards the $7,000 level. Right now, Bitcoin just made a small bounce back reaching the $8300 zone with a possibility for the coin to hold on into the same range for the next few days. However, there remains the danger that it can get back to the fear level zone. In other words, Bitcoin is not out of the woods, yet.

Are you also one of the many hoping for a bullish rally ahead by Bitcoin? Would you recommend for others to enter Bitcoin right now?

When it comes to bitcoin, a few percentages of fluctuations in price are normal. The current movement does not indicate a bullish rally. We are still in the accumulation stage. And though it is a good time to buy, I will not recommend it to others. I do not want to be on the other end of the blame when things go south.

Wexnident

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Quote from: NathanJB on October 22, 2019, 08:47:29 AM

The best buying price starts at 7. And we might be back on that price level anytime from now. We are at a very uncertain point right now. We might have left the $7,000-$7,999 range already but still Bitcoin is not bullish to leave $8,000 far behind. It is basically not leaving the side of $7,000. Anyone can buy at the current price but that would mean HODLing for a much longer period if the price is falling down once more.

We can say that bitcoin has started moving sideways starting at 8,000$. Naturally, Just like you said, I don't believe that BTC would leave the 8,000ish price range soon and go past 9,000. On the other hand, I doubt it would go back to the 7,000 range or at the very least, stay in it. It may dip down a bit to 7,900$ but it shouldn't stay at that range for long. After a few weeks, I suppose BTC can now stabilize at 8,000$ and above, albeit for a short time only. As for a bullish push towards 9,000 or higher, That would still need to wait for a few more weeks imo or at the very least, I need to observe the possible events that may occur in the next few weeks.

NathanJB

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Quote from: CryptoBry on October 22, 2019, 07:15:47 AM

I was actually nervous for the past two days as I was watching Bitcoin teetering towards the $7,000 level. Right now, Bitcoin just made a small bounce back reaching the $8300 zone with a possibility for the coin to hold on into the same range for the next few days. However, there remains the danger that it can get back to the fear level zone. In other words, Bitcoin is not out of the woods, yet.

Are you also one of the many hoping for a bullish rally ahead by Bitcoin? Would you recommend for others to enter Bitcoin right now?

The best buying price starts at 7. And we might be back on that price level anytime from now. We are at a very uncertain point right now. We might have left the $7,000-$7,999 range already but still Bitcoin is not bullish to leave $8,000 far behind. It is basically not leaving the side of $7,000. Anyone can buy at the current price but that would mean HODLing for a much longer period if the price is falling down once more.

The Sceptical Chymist

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Quote from: pooya87 on October 22, 2019, 08:32:32 AM

it seems to me more like the same "scared mood" that we had a couple of months ago when price was stuck below $4k range and was't going above it.

I don't even know if the mood is scared so much as apathetic, though I'll agree with you that whatever this is, it feels much like other times when bitcoin has been stuck in a range. I remember 2015-16 when bitcoin was stuck at around $400 for what seemed like forever. That was brutal compared to where bitcoin is right now.

OP, I don't think bitcoin's tiny little pop has neutralized anything. The rise wasn't really significant and we don't even know if it'll stick. Bitcoin does this every time it's stuck--it oscillates up and down a few hundred dollars but never really goes anywhere until it finally does in dramatic fashion. I've got my fingers crossed that when it finally does move, it'll be back toward $10k.

error08

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The lowest price was $7855 based on bitstamp, it doesn't even touch $7700 levels.
We know that $7800 was the support level more than a week and bitcoin seems to persist at $8000, consider to enter bullish phase when it breakout $8600 to $9000.
However, it may sluggish at this neutral level until the end of the month.

pooya87

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i still don't believe there is such a thing as "bearish mood" and as i said in that other topic of yours it seems to me more like the same "scared mood" that we had a couple of months ago when price was stuck below $4k range and was't going above it. and similar to that time, with a rise to $8300 no mood in the market is going to change because people are ignoring it just the same way as they ignored the small recent drop.
the only thing that will change this "mood" (whatever it is called) is when price makes a major move and then it will change in a blinking of an eye to a big panic mode where they start a buying frenzy which would then shoot up the price.

ecnalubma

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Quote from: CryptoBry on October 22, 2019, 07:15:47 AM

Are you also one of the many hoping for a bullish rally ahead by Bitcoin? Would you recommend for others to enter Bitcoin right now?

Bitcoins movement this past few days is quiet predictable not so much intense in action, I'm also expecting a rally before the end of the year but I bet it will be a short one. Would still recommend it to others if they want a short trades and quick exits, even this short volatility good traders can still take advantage.

CryptoBry

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Quote

Bitcoin’s price bounce has shed some of the recent bearish pressure, but there’s still a way to go before a bullish reversal is confirmed. After hitting $8,314 on Sunday, the top cryptocurrency by market value is now trading around $8,200 on Bitstamp, representing a 3 percent gain on a 24-hour basis.

BTC was operating on slippery grounds last week with the Chaikin money flow index, used to gauge buying and selling pressure, reporting the strongest bearish bias in eight months. The downside, however, was restricted near $7,800 on Friday and prices bounced back above $8,000 over the weekend.

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I was actually nervous for the past two days as I was watching Bitcoin teetering towards the $7,000 level. Right now, Bitcoin just made a small bounce back reaching the $8300 zone with a possibility for the coin to hold on into the same range for the next few days. However, there remains the danger that it can get back to the fear level zone. In other words, Bitcoin is not out of the woods, yet.

Are you also one of the many hoping for a bullish rally ahead by Bitcoin? Would you recommend for others to enter Bitcoin right now?

Topic: Bitcoin’s Rise Neutralizes Bearish Mood - page 2. (Read 347 times)