Topic: BTC: is it really bearish? - page 5. (Read 764 times)
Seems to me bearish to be honest. Don't know how long it will last, today’s price dump somehow indicates the bear mode. I am expecting $40K would be the support zone, in case if Bitcoin break this zone then we will be on the real bear at all. Otherwise, it would be a correction point if Bitcoin starts up from that support zone. Let's think positively, most probably whales accumulating Bitcoin and definitely they will pump it today or tomorrow. And we might see some tweets from institutional investors about buying Bitcoin. So hopefully Bitcoin will start recovering.
Black friday and the christmas holiday season can be a high point for retail bitcoin transactions. Followed by a lull in transaction volume in january.
I think historically january is the best time of the year to make short plays on bitcoin, off decreasing demand from the holiday season.
It can also serve as an entry point for setting up a good buy in position for the next bitcoin halving. Pushing the value down now can translate to larger profits when the next reward halving hits.
It can be hard to get a read on whether an asset is bullish or bearish. There are undoubtedly many conflicting ideas traders have about what the next stop should be.
I've always been a proponent of bitcoin being defined by 4 year boom and bust cycles. There was a big bust cycle following the last rewards halving. And the one prior. A bearish period could be normal at this stage.
I think historically january is the best time of the year to make short plays on bitcoin, off decreasing demand from the holiday season.
It can also serve as an entry point for setting up a good buy in position for the next bitcoin halving. Pushing the value down now can translate to larger profits when the next reward halving hits.
It can be hard to get a read on whether an asset is bullish or bearish. There are undoubtedly many conflicting ideas traders have about what the next stop should be.
I've always been a proponent of bitcoin being defined by 4 year boom and bust cycles. There was a big bust cycle following the last rewards halving. And the one prior. A bearish period could be normal at this stage.
What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.
And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
Perhaps, we always notice full of surprise that even we have this chart, we have this basis of our speculation, TA but too unfortunate that our TA can't be right at all. And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
I'm sure that people are getting wise now, they are more on holding than selling. Quite that is a huge factor that affects the market trend and even keeps it bullish in the whole year 2021. That is something we need to look forward to this year, I'm still in the positivity that we are even more bullish this year and the momentum continues.
The selling pressure is high and you're right that when the market is like this, diamond hands we have and we only need to hold. And at the same time, those who have waited for the drop, they're now free to buy just like what they've wished for.
Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?
I agree with all of your explanations, it's very clear with the price of Bitcoin dropping below $45k now this is a sign of a bearish trend. But there's
really no need to worry about this Bitcoin price drop, I've often seen Bitcoin prices go down. And in the end Bitcoin can always recover, even rising
very high after experiencing a bearish trend. We just need to be patient to see the current market conditions, if we still have the capital we can buy
Bitcoin again at the current price. Because I think Bitcoin is currently at a low price, hopefully Bitcoin doesn't drop below $40k, otherwise there
will be a panic sell.
Well for some people who didn't experience the past heavy bear market season they will possibly get afraid on this current market condition but for those experience people who already see that maybe they are still in cool but one thing is for sure there many will slowly get panic for seeing the situation especially when bitcoin keeps declining and for sure doubts will spread more especially once bitcoin touch at $30k+ again so hopefully we can see some good recovery since this will calm the majority of people who's still have holding which they keep or bought at the top.
Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?
I agree with all of your explanations, it's very clear with the price of Bitcoin dropping below $45k now this is a sign of a bearish trend. But there's
really no need to worry about this Bitcoin price drop, I've often seen Bitcoin prices go down. And in the end Bitcoin can always recover, even rising
very high after experiencing a bearish trend. We just need to be patient to see the current market conditions, if we still have the capital we can buy
Bitcoin again at the current price. Because I think Bitcoin is currently at a low price, hopefully Bitcoin doesn't drop below $40k, otherwise there
will be a panic sell.
Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?
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Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
[snip]
You're not the only one who's confused about what the Bitcoin market's next momentum will be but according to the previous market historical data which I believe was what those that predicted the market to be bearishly used. So the magic question would be: what am I missing?
[snip]
After the Bitcoin halving effect market is over the market will experience a huge correction.
The best thing you can do is to ride with the market because the chart cant provide 100% results and the crypto market is going to the verge where charts, etc will be useless cause the market will choose a trend that there's nothing to prove it.
What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.
And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
Perhaps, we always notice full of surprise that even we have this chart, we have this basis of our speculation, TA but too unfortunate that our TA can't be right at all. And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
I'm sure that people are getting wise now, they are more on holding than selling. Quite that is a huge factor that affects the market trend and even keeps it bullish in the whole year 2021. That is something we need to look forward to this year, I'm still in the positivity that we are even more bullish this year and the momentum continues.
What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.
And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.
That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.
This is only a matter of the timeframe used, because it is not possible for long-term holders to use a 15-minute or one-hour timeframe but at least weekly or even more than that, unlike people who trade daily. they do checks and analyzes in close TF so it is very reasonable if the price decline occurs to say it is bearish.
on the other hand I'm more comfortable saying it as a correction than bearish
on the other hand I'm more comfortable saying it as a correction than bearish
The price correction is currently happening with bitcoin dropping more than $2,000 today and now priced at $45,870. This has been happening since the beginning of the week against some speculation for bull this time. It is still looking bearish on a higher time and I think it causing some hodlers panic.
This is only a matter of the timeframe used, because it is not possible for long-term holders to use a 15-minute or one-hour timeframe but at least weekly or even more than that, unlike people who trade daily. they do checks and analyzes in close TF so it is very reasonable if the price decline occurs to say it is bearish.
on the other hand I'm more comfortable saying it as a correction than bearish
on the other hand I'm more comfortable saying it as a correction than bearish
Hey
I have never tried doing such predictions because there are many sites online as well who does this stuff and people tend to follow them, but at the end of the day, I do not trust those sites altogether because they can only *predict*. But if I was you, I would change the *time frame* then analyze the market.
Plus being bearish or bullish does depend upon the fact that, what you are taking as your base price. For the time being I think it's hard to predict where the market is headed and you can completely choose to ignore the advice or predictions by the people here.
*It's not dependent upon a mathematical calculation, it would not follow your line for sure that's all I can tell you right now.*
((Forget about the lines, follow the news, keep a track of the price))
I have never tried doing such predictions because there are many sites online as well who does this stuff and people tend to follow them, but at the end of the day, I do not trust those sites altogether because they can only *predict*. But if I was you, I would change the *time frame* then analyze the market.
Plus being bearish or bullish does depend upon the fact that, what you are taking as your base price. For the time being I think it's hard to predict where the market is headed and you can completely choose to ignore the advice or predictions by the people here.
*It's not dependent upon a mathematical calculation, it would not follow your line for sure that's all I can tell you right now.*
((Forget about the lines, follow the news, keep a track of the price))
Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
So the magic question would be: what am I missing?
You are missing one very important fact: Technical analysis is fortune telling. It don't mean shit.
You want to believe that support line is going to hold but it very well may not. So that chart you posted is completely meaningless.
Everybody don't keep talking about bear-btc. You are somehow only hearing their voice. There are plenty of bulls around too.
Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
You are not missing anything, charts are up to interpretation and as such two different people are going to see different things on the same chart.So the magic question would be: what am I missing?
Think of charts on the same way you think of a medical analysis, if you get your blood tested a bunch of data will appear, and while an inexperienced doctor may make a mistaken diagnosis an expert doctor will look at the same data and come to the right conclusion, so if according to your analysis you do not think bitcoin is bearish and you have confidence in your skills then there is a decent chance you are right.
Well, you just happen to have a different timeframe against the others who pointed out a bearish signs on their own chart.
However, a chart cannot also be accurate on what's about to tell us whether a bullish or a bearish sign. Prices always change every second.
It could suddenly fall during a massive sell off and then stay in a specific bearish region.
However, a chart cannot also be accurate on what's about to tell us whether a bullish or a bearish sign. Prices always change every second.
It could suddenly fall during a massive sell off and then stay in a specific bearish region.
Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
So the magic question would be: what am I missing?
I agree with most of my colleagues who have responded: the TA sucks. Some very experienced and knowledgeable people claim to make money trading with it but those who lose money are more than 90%, so it is not very reliable.
On the other hand, you have drawn some lines because you see a pattern, what you do not see is that you could draw infinite lines, which, logically some would seem much more reasonable than others, but all pointing to regularities.
Better to invest than to play roulette and let's leave TA aside.
Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
Maybe as good traders we don't have to race on the candle, because it doesn't guarantee its accuracy, although many say it's 70% 80% accurate but it's just an opinion so that traders can glance at it, even world-renowned experts are also not always right if it's based on the chart like that,So the magic question would be: what am I missing?
I think in Q1 and Q2 of 2022 the price of BTC will be affected by the announcement of THE FED which will be tapering to every country related to it in 2022. Why do I say that?
The reason is that most of the biggest shareholders in BTC are state agencies around the world which of course they will sell some of their assets for payment to the USA.
You are not missing anything for now but what you will miss is your bitcoin when you sell because of fud or fear and the next moment price is on another ATH scaling higher.
You are not sure where price will go likewise the other speculators but it is better to trend on the part of reasoning, bitcoin is getting into adoption and institutions are accepting it as payment . So what do you think ?
You are not sure where price will go likewise the other speculators but it is better to trend on the part of reasoning, bitcoin is getting into adoption and institutions are accepting it as payment . So what do you think ?
Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
So the magic question would be: what am I missing?
No one can say that, and only with TA also you can't come into any conclusion because there are lot of other factors also affecting the prices of cryptos. We already entered into 2022 and if you take a look at the history of 2017 and 18 there were similar patterns so commonly people get the impression of prices is about the fall so they all might started selling once their panic region started touching, So the magic question would be: what am I missing?
Bearish for the timeframe used by others will be different from the timeframe used by the holder. As a holder in their eyes, there is no bearish at all, because what they target is always profitable, but for day traders there is always time to see a bearish line.
So it all goes back to the method that is adjusted by each. Personally it's nothing dangerous bearish, while we see a bit of a gap to enter then buys will be set and waiting for a comeback for a long time.
So it all goes back to the method that is adjusted by each. Personally it's nothing dangerous bearish, while we see a bit of a gap to enter then buys will be set and waiting for a comeback for a long time.
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