Topic: BTC Sentiment Poll for April (Read 614 times)

Although it would be a relatively severe correction if price returned to $23K (at -25%), I wouldn't call it disastrous. It'd likely put an end to the immediate uptrend, but we've already seen price correct -20% from $25K to $20K and continue the momentum immediately after. Call it luck or a bit fortunate (I think I would), but it was far from a disaster. The further price rises, the deeper the corrections price can handle imo.

The other reason I think going below $25K wouldn't be the end of the recovery overall is that although it acted as resistance twice before, there wasn't a lot of volume there. Hence when it did break to the upside, it didn't take weeks on end to break this resistance, only a few days. Whereas there is a lot of accumulation volume at $23K, somewhat untested as support, that'd likely be strong support (as $20K was).

There is also the bullish trending 20 Week MA that's rising (which previously supported price around $20K), now at around $23.5K and the 50 Week MA that's flattening out in a more neutral manner around $22K. Once the 20 Week MA reaches around $25K in the next few weeks (with price above) I'd probably say a pull-back to $23K wouldn't be as bullish, but right now it'd look like a normal correction to me still.


To be honest once $30K was re-tested I wasn't expecting it to move to new highs overnight. Similar to breaking $25K, there is often a sharp pull-back in order to confirm support before breaking through resistance. Even if the resistance is shorter-term, it's still a distribution zone from back in May last year, almost a year ago now, so remains very relevant. It did pull-back a bit quicker than I expected, but ultimately confirming $28K as current accumulation and support level is a lot healthier than continuing to the upside when price is getting overbought on shorter-term time-frames. It also shows the weakness of bears right now.

Now the advantage the bulls have is that price is at $29K as of typing, no longer overbought and instead text-book bullish by most metrics, not forgetting that $28.5K was also previous resistance that is effectively being broken for the second time now after the move earlier in the month. At current prices the bulls definitely have the upper hand, unless bears can increase the selling volume.

Very observant that when bitcoin touched $30k, I was expecting it to exceed the 30k in order to dwell there and form support at $30k. But since btc didn't grab hands at 30k and dropped below, there's every tendency that it will push back to the nearest support 25k and continue making moves. But if we are unlucky enough, a strong negative fundamental hits the industry, we could be heading back to the $20k resistance. I do not actually believe that we have finally left the bear market.

I think a pull back to 23k could be disastrous for BTC as it would mean going back to a range where there was a lot of resistance at 24k - 25k.  BTC shouldn't lose what it has gained and more importantly it shouldn't lose mometum.  I'd rather see it keep chipping away at 30k then go back down to 28k than a huge pull back which could mean back to bear territory.

Anyway, heard the market had some shennanigans yesterday.  Just as when you think it's going to a higher range, it pulls back down.  Lmao.  It does that.

Speculators on Twitter are just like us in seeing market opportunities.
April is considered a good month of the year for market movement compared to other months in April.
In the midst of the good market movement in April, there are also those who want the positive movement to end soon as in the last 24 hours the chart has increased towards returning to the price of $30K.

Then the thinking of those who want the market to return to bearish doesn't need to be bothered for those of us who choose the long term.

What I saw in mid-April was an increase in the price which even reached $31K even though it was only for a few minutes until the next day a correction began. But today I again saw an increase back to the price of $ 30K which really proves that the price of Bitcoin very often goes against many people's expectations. And it's possible that Bitcoin will go back past $31K if in the near future there isn't another small correction like that happened in the past few days.

There was a small correction in mid-April, which many saw as a new trend reversal and a return to a bear market. But in the last few days, the price has returned to its local high again. It was interesting to read crypto twitter, where almost everyone tried to draw charts with further collapse of BTC. This once again proved that the market always moves against expectations.

Strong bounce from the 50 Day MA currently playing out. The fact it failed to act as support last month but has so far supported price this month arguably means the uptrend is even stronger than it previously was. Personally I was expecting a pull-back to $25K/$26K, maybe even $23K, like many others, but clearly the bears failed to push prices lower than $27K after $28K accumulation/distribution zone was lost.



After 5 week consolidating in the $27K to $31K range, there is certainly room for further upside now if we see an increase in volume. My gut feeling is bit more consolidation, maybe for the rest of the week and into next week, as theoretically $30K should continue to act as some short-term resistance. That said, we saw what happened last month at $25K after price re-tested this level for the second time, it broke through with ease with enough volume. Hence whether we imminently break through $31K will remain volume dependant imo, especially while price is bullish and not yet overbought on Daily time-frames.

Locked the poll and it looks like the sentiment isn't really bullish as I thought.  There was just one guy who voted super bullish and just three of you who voted for super duper bullish.  C'mon guys...  This was supposed to be fun.  

And here's what the monthly chart looks like so far after two little pumps today and yesterday.  Not bad imo.  They add up.  It wasn't looking good for a while there.




It's starting to look good now.  Hopefully there aren't any market shenanigans happening for the next couple of weeks.

Edit:  Looking at the chart again, I think I know what you guys are thinking.  It's going to be in the next poll.  Lol.

Yes we are still in the 27K zone tonight, there has been a lot of negative news floating around the last few days, it is very likely that we have dived deeper or even over $24k, some should take their prodits to secure their investment situation and attract some to buy on the reversal next price.
The strongest indication why bitcoin has been dropping lately is most likely what they are talking about in this thread, selling that amount massively will make the price trend turn negative and encourage others to liquidate their bitcoins in the meantime.

Btc is the only coin that can raise significantly within a day or two. in fact, it is capable of surprising you at any time. March was supposed to be the month that is not very favorable for btc but it was able to perform well. Btc price movement is determined by several factors, political, economic and social. So depending on what news that will pop up next, it can be bearish or bullish. So let's hope from now till month end there is no FUD that will further dip the price.

We are still holding at around $27,300, not a good sign but we have to suckered everything right now. Lots of negative things maybe that's why the price falter from as high as $31k and when we thought that the uptrend will continue.

We still have a week before the end of this month. It started strong might this might be the first time that we might see a negative candle after a good 3 months head start.

Big things could still happen in the final 10 days of this month. $30,000 could be quickly regained just as how it was quickly taken by the bears, but it could also happen that the price would further fall to $27,000 or even $26,000. $30,000 is like a tag war for now and the strength of lower than $30,000 seems much stronger than the strength of beyond $30,000. The last 10 days of the month would be the final factor.

I don't agree that the market is considered bullish if from $28,000 it touched $40,000 very quickly before returning to $28,000.

I understand that some people look at the "drop" that we had recently and think April wasn't bullish. I would like to remind everyone that we started at about this period and reached above 30k and then dropped here. So we DID had a bull period within the month. Maybe the start and the end will be close to each other, but that doesn't mean that it should be exactly the same, it could have different approaches to it. I hope that we could go beyond that and realize that what happens in the middle also matters as well. Just because we start at 28k and end at 28k that doesn't mean it wasn't bullish, maybe 30k didn't appeal to you a lot, but would you say the same if it started 28k and ended 28k but had 40k in the middle? I don't think so. Hence consider it as good, plus we have nearly 10 more days left as well.

Is sideways too boring to say, the velocity could be zero and yet the journey not unexciting.    It doesnt seem we will be too negative imo but clearly some will be disappointed and aspirations modified.
Most likely target or simpliest view is a trade down to the 50 day average and then some recovery from there.  Of course we can better judge the outcome after the quality of recovery is observable.

I do agree that it will increase, but double? I am not sure about that. Double would mean that we would be closer to 60k by the end of this year and that looks like a lot of money, I feel like that may not happen. I know that 40k does look like a possible thing but that doesn't mean that we should do something like that, we could see it do a lot better in the near future.

I think something like 40k is reasonable because of this, because it would be going up, but it can't go up all the time, the first three months was awesome but what if we have another 3 months where it just gets stuck and doesn't move a lot? That is why it would be better if we could just simply end up with 40k, since that means even with a break like that, we could go there.

To be honest I wasn't that surprised after the initial rejection from $30K. Zooming out highlights that between $28.5K and around $32K is the trading range from May/June last year that was a "pre-capitulation" trading zone. Compared to volume traded below this level around $20K and $25K it's not very significant, but nonetheless it's an established trading zone that was previous distribution almost a year ago now.

This why we saw the initial consolidation below this level initially, in order to build up momentum to re-enter this trading zone. Personally I think it's likely we'll see further consolidation within this range similar to last year, maybe for a week or two, in order to build up the momentum to break through $32K to the upside. Either that, or correct further towards $25K in the coming days or weeks I think.


Also agree that around $28K is the immediate support, below that it's around $25K, maybe even $26K where the 200 WMA is priced. Either way consolidation at these higher levels above $28.5K remains bullish, even if the price is doing nothing but going sideways. Ideally investors can turn this previous distribution zone from last year into re-accumulation, otherwise a correction will occur.

What the fck just happened?  A few hours ago everything looked like it was gonna go trend up above 30k albiet having some resistance.  Now it's looking like it's ready to go down to 26.5k support.  :/  Does anybody know what's going on?  It would be so weird if BTC just went down out of the blue without rhyme or reason or without anything happening behind the scenes.

Hopefully itwas just a fat finger error and we proceed to going back to how it was in a couple of days.

And one reason is that investors had already improved their understanding of the crypto market as they are now more knowledgeable than before. Their experience gives them an idea of when to invest and when to hold, and of course, they are certain of their purpose of coming here and that is to wait for the next bull season making them hold and so the price increases more.
I could see this will double the price of Bitcoin when it talks about the new ATH but can't also deny the possibility that it surpasses the last 2021 ATH.

One thing I have noticed is the step by step increase in Bitcoin prices from January to April. Bitcoin is nearing a bull market as the price of Bitcoin continues to rise as the day goes on. In February, Bitcoin price ranged from 20k to 22k and in March it reached 28k and stayed there for a long time. Bitcoin price has completed 30 in the month of April if we consider this history step by step Bitcoin price is rising every month. And by the end of 2023, the price of Bitcoin will increase twice as much as it is now. The reason for this is that we can learn from the past several months of 2023.

it is being said in the votes that people are just expecting small bull or better to expect both , there might be a small bull or a small bear and that can happen anytime.
while the market is staying at least above 29-30k yet we cannot see the  31k mark to expect at least 35k.
that is easy  said mate but never to complete believe this mate.

because there are still chances that it will go sideways and you'll lose any way.