Topic: BTC bulls back? (Read 1357 times)

I don't think that the bulls has left the market for good, it's that the bears really take over after reaching our all time high in 2021. And with that, it's hard for the bulls to keep phase with the current market price and even if they wanted to push it, there are a lot of negative things that happen last year and even this year as well, pulling the price or at least making $30,000 as the resistance level.

But as we have known about the market cycles, sooner or later, we will have the catalyst for a bull run, that is the block halving. Just less than a year from now, and then after that activity, the bulls will slowly take control of the market again.

Yes, BTC bulls will come back again. And it could probably come anytime between 2024 and 2025 which could leave the ATH. Because almost all bitcoiners currently think that bitcoin will make a new ATH again. Moreover There is also a high chance of a major bull market in Bitcoin in the near future and this could happen as between as 2024.

how do you know it will be good year in 2024. With this market condition i do think that bitcoin is still in bear market

do you think is it possible BTC will go down below 10k? i think it's possible

You should be able to take advantage of market conditions (its volatility) to take profits or maybe buy some. So this volatility will affect you unless you are a holder who does not want to add to the pile of assets as long as they are cheap.

If you are a holder, then ignore the price volatility as long as you haven't found the target you want. But if you still want to build your portfolio then I think you need to keep an eye on price volatility especially during corrections. Buy more with DCA, it will help you get lower average price.

It is likely that the Bitcoin price will return to $20k in the near future. It's not that the whales have forgotten the bull. The good year is in 2024, so we don't need to panic when we see the current Bitcoin price drop from $30k to $26k, even lower than that. Of course the traps continue to be made, and this depends on how we react to it.

atleast bitcoin will recover to 30k+ but i don't think it will pas 40k$ right now.
i was shocked when bitcoin broke below $20k,i think we still need a few months to see that bitcoin will break $40k or break below $20k a second time

Correct. I agree with you that many factors influence bitcoin price movements. Moreover, as the parent of altcoins, bitcoin is the main center of attention in various issues, both negative and positive. Therefore, we must not be affected by market conditions because the rise and fall of bitcoin prices is a natural thing to happen.

Take a look once again at the market to see the extent of volatility in the price of Bitcoin and other top coins in the market, just a few days ago a bull was on a high trend but at this moment the bear market is pushing hard to push the price down further than what it is right now, so we should step back to analyze the market deeper to be able to make a stable and good speculative analysis of the market, for the past few weeks/months the bull has been on a run even though it was on a slow past but then we can see how the price of Bitcoin broke the 30k+ price for a while before sliding down again to the current price.

But since we are already used to Bitcoin market sentiments and volitilties, we can take the present condition as a revuolding stage for the market before it touches a possible new price.

I've already set my mind that we won't hit a new ATH for this year because the cycle should start after the halving by next year.

But it's an optimistic price that it's setting if it reaches to that price by the end of year which you've said as $50k-$60k.

We're done with the lowest for this cycle and even if there are still plenty of folks telling that it could go as low as $10k, we shall see if that's still going to happen but IMO unlikely.

Now bitcoin has gone into correction mode because the price has touched $28,000 almost below that but it is a support point that maybe this $25,000 depends on how some factors happen until it will enter bearish again but if it doesn't happen I think bitcoin can continue its bull trend again and that price can more soared over $35,000 but I guess this year's high is bound to happen as some more hype has started to grow just waiting for the right moment.

If there is a correction for when to buy BTC and I think this is very appropriate to make another entry.

The movement of Bitcoin this year has been pretty decent, and we can say that it has already had a mini bull run.

After hitting $30k, the price is now in correction mode, but if it doesn't dump hard, that means we will hit the highest price again this year. Once this mini bull run stays consistent, eventually the hype will start to grow, and just like in the past, the entire market will be in bull run mode.

This means that all of us who trusted the system will benefit greatly from the big price pumps.

Let's say that we will not hit another new all time high for this year. But maybe close to it, around $50k-$60k at the end of the year or at least before the block halving in late April or early May.

And still a good price though if that prediction will come true, I mean lowest low that we have for this bear cycle is $15,500.

So that will be a relieved if before the actual before we are close to the last all time high. But it doesn't mean that we are in a bull run and that we will have to sell our stash. Just continue to accumulate and HODL.

Too early to expect a huge bull run for this year.

With what I'm expecting, it should happen after the halving just as what the cycles that we have gone through for the past years. That's demonstrated before and that's why all thoughts are for it.

Just as 2020 when the halving was done, the bull actually started on that year so who knows if next year will be the start of the larger bull run.

In 2022, the position of the Bitcoin price was most people's statement. All they had in mind was that the value of Bitcoin might not increase and they were completely disappointed. But 2023 started with a good position for the Bitcoin market. At the beginning of the year the Bitcoin market started to grow little by little and so far it has grown more than ever before. And in April, the price of Bitcoin touched $31k dollars, which enabled all investors to overcome their disappointment. But I think the Bitcoin market is going to turn into a bull market again so it would be best to invest in Bitcoin now without delay.

Indeed it does seem that price wants to return to $28K in order to turn this previous accumulation zone into new support.


The bearish divergence on Daily time-frame is more or a "hidden divergence" (ie same RSI level with price higher high), so I don't consider it as reliable as standard divergence personally. We can otherwise overlook the bearish divergence from January and February to current RSI levels as there was already the pull-back to oversold levels on Daily time-frame when price corrected to $20K.

It's also worth noting that the bearish divergence on 4hr (that is pretty clear cut) has arguably already played out, ie the RSI has returned to oversold levels, even though it could go lower like it did last month. Similarly with 1hr and other short-term time-frames, this bearish divergence has largely already played out with the -5% correction we've seen in the past day or so.

The head & shoulders pattern is the only one left that has a target lower than already reached, around $28.6K based on neckline break, which is also conveniently around the previous accumulation zone as well as Monthly opening price. So while bears currently have the upper-hand on short-term time-frames, it might not last very long based on the correction that has already taken place.

Yes the bulls are in control now, but seem will be getting some price cool off towards $28k support level, its initial breakout point. Secondly, a bearish RSI divergent is shown in the daily, H4, and H1 timeframes are in agreement, plus a Head & Shoulder pattern currently forming on H1, which indicates that the bears wants to dominate in the short term.

I honestly think bulls are back on markets. You can currently watch markets and see anytime correction happens it triggers another demand and prices can't find chance to go lower. In past, like a month-2 months ago it was completely different. People were trying to make money but bears were killing demand. Although I believe we aren't in huge bull run this year as I think its too early for one. Next year will be better.

When the market is volatile, or we buy at a price higher than the current price, panic is normal, but if it persists, it is not normal anymore. Remember that panic is the cause of our losses.

What is happening in the markets today is a mini uptrend, not a real uptrend, and so I do not see us entering a bull season. History has shown us that the bull season is only 1 year after the halving, which means we will have a bull season in 2025. Unless history does not repeat itself and we will make new history this year, but I doubt that given the current world economic conditions.

It is not normal to experience panic especially if your goal in trading is to master the technical analysis skill. If you cannot overcome the fear and panicking the possibility of you losing your whole capital is very high so it is important that panicking is not good and it gives you signal that there is something taht you do not know yet and you can overcome it by being aware to what is wrong. The price of bitcoin recently go up and there are a lot of altcoins that up gains more than 30% in just a one day. It is a signal that the market really transitioned into bull market, today if you will look at the chart; you can see that most of the cryptos are in red because the market is retracing and we should not feel any fear or panic because it is noral because remember that the price do not go into straight line ebcause it also experience exhaustion so it needs break that is why it is current retracing.

I'm looking at $29,000 level, there is a high chance that the price may retest in this area so better to watch out and for me this is the best time to get positions because it is where the buyer resides wherein the demand is too high that may cause the price to bounce and to do some swing high. I also expect consolidation for the following days and weeks so let's see.

it's normal for someone to panic about the price of bitcoin that hasn't improved, because maybe he bought bitcoin when the price was indeed higher and the funds that were going to be turned over had not yet returned. but I also agree that there is no need to panic too much because the criterion of bitcoin is always to repeat what has been done, maybe it's only a loss at a longer time.
for the price of $ 30K already done by bitcoin now it will slowly go to penetrate $ 40K, although slowly but there is no need to worry because next year has entered the era of the halving period.