BTC Sentiment Poll for August - page 3.

dragonvslinux

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Quote from: tokeweed on August 19, 2022, 11:19:29 AM

Bitcoin at the daily now really looks terribad. :/ I really thought it was just gonna be somewhat of a correction then back to a slow trend back up a couple of days ago. But now... 'Big man thing yeah... It's not looking good bruv, it's not looking good.'.

Here are some support levels of where it's likely going to break or bounce. The first one broke but the second one is holding for now. Cross your fingers. And it's funny how sentiment could change in a day or two. I'm still hopeful it goes back tho.

Personally, I don't think it looks "that bad". The same was said last time price corrected to $21K from $24K before price rebounded quickly back to the upside. Until proven otherwise, I think this is likely to happen again, unless of course it doesn't and price breaks $20K. Based on volume, price is now in between an accumulation zone and distribution zone, while the accumulation is slightly more than distribution fortunately.

For me returning to $19K would be the real issue, as this would invalidate higher highs and higher low structure. Even a quick re-test of $20K isn't the worst scenario to occur, as would still be a higher low. Admittedly a month or so ago I wasn't considering bullish bias that much, but after 2 months of consolidation near the lows I consider it a lot more relevant, as long as price doesn't stay under $22K for too long.

tokeweed

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Bitcoin at the daily now really looks terribad. :/ I really thought it was just gonna be somewhat of a correction then back to a slow trend back up a couple of days ago. But now... 'Big man thing yeah... It's not looking good bruv, it's not looking good.'.

Here are some support levels of where it's likely going to break or bounce. The first one broke but the second one is holding for now. Cross your fingers. And it's funny how sentiment could change in a day or two. I'm still hopeful it goes back tho.

cryptomaniac_xxx

hero member

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Quote from: Inspiron14 on August 18, 2022, 12:47:21 PM

Quote from: fzkto on August 18, 2022, 04:07:06 AM

Quote from: wxa7115 on August 18, 2022, 12:58:59 AM

Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

A recovery so soon would be ahead of schedule to me but I will be willing to roll with that, however at this time the market not only depends on its own dynamics but on the dynamics of the world at large, and as we know things could get worse in a hurry if another armed conflict emerged.

So even if that prediction was accurate taking into account the current conditions, if the conditions changed the prediction could become useless, and it could take the market a lot more time before it recovered.

It is likely that the market will not recover this year or next. Many people talk about four-year cycles. If we stick to this model, new growth will not come until 2024-2025 at the earliest. It also seems to me that after such good growth as in 2021 it would be strange to expect a quick recovery after a rapid collapse. The world situation, as you said, is not conducive to good expectations either.

2024-2025 in my opinion is still a mystery, we don't know whether in that year bitcoin will repeat the cycle or not,
but my advice as a trader of course we must be wise in making decisions, and the risks of course we all understand

Well that's what we say in the previous bull run, so I guess there is no mystery but the cycle repeating itself. It will still holds true I believed as we have the bitcoin halving and I don't think that there will be supercycles as everyone though. As bitcoin narrative changes in the last couple of years and so is the cycle. But it is not, the 4 year cycle has been holding at least this is what we witnessed in 2017 and then again in 2021 and so it could be in 2025.

fzkto

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Quote from: Inspiron14 on August 18, 2022, 12:47:21 PM

Quote from: fzkto on August 18, 2022, 04:07:06 AM

Quote from: wxa7115 on August 18, 2022, 12:58:59 AM

Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

A recovery so soon would be ahead of schedule to me but I will be willing to roll with that, however at this time the market not only depends on its own dynamics but on the dynamics of the world at large, and as we know things could get worse in a hurry if another armed conflict emerged.

So even if that prediction was accurate taking into account the current conditions, if the conditions changed the prediction could become useless, and it could take the market a lot more time before it recovered.

It is likely that the market will not recover this year or next. Many people talk about four-year cycles. If we stick to this model, new growth will not come until 2024-2025 at the earliest. It also seems to me that after such good growth as in 2021 it would be strange to expect a quick recovery after a rapid collapse. The world situation, as you said, is not conducive to good expectations either.

2024-2025 in my opinion is still a mystery, we don't know whether in that year bitcoin will repeat the cycle or not,
but my advice as a trader of course we must be wise in making decisions, and the risks of course we all understand

People didn't buy bitcoin at 6k in 2018, then didn't buy it at 3k in 2020, now are just as afraid to buy at 20k. In 2026 they will be afraid to buy 40k. It's all psychology that repeats itself time and time again. As long as it works and makes money for those who do the opposite, it will live on for a very long time.

Inspiron14

full member

Activity: 1064

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Quote from: fzkto on August 18, 2022, 04:07:06 AM

Quote from: wxa7115 on August 18, 2022, 12:58:59 AM

Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

A recovery so soon would be ahead of schedule to me but I will be willing to roll with that, however at this time the market not only depends on its own dynamics but on the dynamics of the world at large, and as we know things could get worse in a hurry if another armed conflict emerged.

So even if that prediction was accurate taking into account the current conditions, if the conditions changed the prediction could become useless, and it could take the market a lot more time before it recovered.

It is likely that the market will not recover this year or next. Many people talk about four-year cycles. If we stick to this model, new growth will not come until 2024-2025 at the earliest. It also seems to me that after such good growth as in 2021 it would be strange to expect a quick recovery after a rapid collapse. The world situation, as you said, is not conducive to good expectations either.

2024-2025 in my opinion is still a mystery, we don't know whether in that year bitcoin will repeat the cycle or not,
but my advice as a trader of course we must be wise in making decisions, and the risks of course we all understand

fzkto

sr. member

Activity: 2282

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Cashback 15%

Quote from: wxa7115 on August 18, 2022, 12:58:59 AM

Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

A recovery so soon would be ahead of schedule to me but I will be willing to roll with that, however at this time the market not only depends on its own dynamics but on the dynamics of the world at large, and as we know things could get worse in a hurry if another armed conflict emerged.

So even if that prediction was accurate taking into account the current conditions, if the conditions changed the prediction could become useless, and it could take the market a lot more time before it recovered.

It is likely that the market will not recover this year or next. Many people talk about four-year cycles. If we stick to this model, new growth will not come until 2024-2025 at the earliest. It also seems to me that after such good growth as in 2021 it would be strange to expect a quick recovery after a rapid collapse. The world situation, as you said, is not conducive to good expectations either.

wxa7115

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Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

A recovery so soon would be ahead of schedule to me but I will be willing to roll with that, however at this time the market not only depends on its own dynamics but on the dynamics of the world at large, and as we know things could get worse in a hurry if another armed conflict emerged.

So even if that prediction was accurate taking into account the current conditions, if the conditions changed the prediction could become useless, and it could take the market a lot more time before it recovered.

Rufsilf

sr. member

Activity: 1778

Merit: 309

Quote from: |MINER| on August 17, 2022, 02:47:18 PM

Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

Maybe not but at least we are saying some improvements, and we are in an uptrend momentum. But yes, we are still not far from the bearish state of the market and I think we can't even pass the $25k level this month despite the growing signs of its price. This is exactly how the bear season dominates the market and even seeing the hypes is somewhat impossible.
Anyways, those who come late will still have the chance to buy more as this might end by December.

|MINER|

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Yes there have been some green signals in the market since the beginning of August but I think the market is still not in a very good position. We may see a dumping in between with it. However, the market is expected to start recovering in early to mid or beginning of -2023, according to many market analysts.

tokeweed

legendary

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Life, Love and Laughter...

^ And it's happening. :/ Just curious what you think, everyone is welcome to chime in... Been hearing about the 200 WMA holding for the past 10 years. I don't think much of it as it's a lagging indicator but do you think that it will continue to hold as it did in the past or will it finally break?

I think the question would make for a good poll for next month's sentiment poll. I already have a couple of fun questions in mind. Lol.

dragonvslinux

legendary

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Quote from: Detritus on August 12, 2022, 06:20:08 PM

The market structure is bullish for the short term am bullish too. If it keeps holding above $24k, I think $25k is possible and so it keeps on.

Agreed that above $24K is bullish, as this was the original break-out from resistance level of the bullish ascending triangle structure. But so far there hasn't been any convincing follow through. Currently I'm not personally convinced $24K will hold unless we see another re-test of $25K soon, even a daily close above $24.5K. Ideally price could consolidate again around $23K levels where the 200 WMA is based as well as local accumulation zone, but otherwise I wouldn't rule out a dip down to $22K where the 50 Day MA lies, or even around $21K which is currently the long-term volume point of control.

Smack That Ace

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Quote from: boltz on August 14, 2022, 05:34:37 PM

Well , it seems there are more votes for Yes than No...but why ? Bitcoin seems that cannot surpass the 24k mark and looks like another big bear trap that many of felt in it. I've been said in my previous posts about predictions that this year should be a full bear year with Bitcoin likely falling under 18k again or even further. Also , we all do know that during the summer Bitcoin tends to rise a bit and then as soon as summer is over , bitcoin drops in price and this was always the road of BTC in summer during the bear markets.

Yes, we are in a bear season and it is not over yet but the $25k possibility is there, even more predict bitcoin to hit $28k for this rally before going back for correction.

The market is benefiting from the positive news from the world economy and the merge of ETH, so could see the market continue to rise and we're very close to 25,000$. But I also predict that the market will correct after that, but cannot predict if there will be another slump back below $20k.

kotajikikox

full member

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Quote from: Detritus on August 12, 2022, 06:20:08 PM

The market structure is bullish for the short term am bullish too. If it keeps holding above $24k, I think $25k is possible and so it keeps on.

it is here now , 24k is best position to invest more and yeah 25k is coming near and another climb for this month , August is what we find a tricky month because there is a coming season in the last quarter in which what we called BER Months .

Quote from: STT on August 12, 2022, 06:05:29 PM

Can see on the OP chart where is the most common tail end to the bars, its about 30k. So thats the hard check, however we have got ourselves stuck on this current price and are yet to begin to challenge that area. When we do get unstuck I'd guess thats where we start to explore, market still waiting to decide if we even go that way.
I guess we do attempt upwards, but the battle aint even begun yet so still waiting really. Here is a good range to watch just in this short term 'rocky and winding road', pace right now is cart horse progress :p

If this is going to 30? then maybe I will go out for a while because i invested some chunk last month at 17k so there is a good future if i will experience another dump before the year end before another bullish comes.

bbc.reporter

legendary

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@boltz. It might be because there are some people who are dumping during the pump the leverage used for the pump is not enough to go more than $25k hehehe. It might also be short sellers closing their postions.

Also, I reckon what you mean is a bull trap. Those trapped traders who bought higher from where the price of bitcoin presently is?

boltz

legendary

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Well , it seems there are more votes for Yes than No...but why ? Bitcoin seems that cannot surpass the 24k mark and looks like another big bear trap that many of felt in it. I've been said in my previous posts about predictions that this year should be a full bear year with Bitcoin likely falling under 18k again or even further. Also , we all do know that during the summer Bitcoin tends to rise a bit and then as soon as summer is over , bitcoin drops in price and this was always the road of BTC in summer during the bear markets.

STT

legendary

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I'm just estimating if it does break past this ceiling it can/will get to 30k because we'd held here quite a while now. Its about 6 hits of this current price level since mid July and with increasing frequency. The price level we're at is 50% of the June peak to low. So boring story is we went sideways but also range keeps getting smaller and more focused, seemingly to beat mid 20k area.
If we didnt then move upwards properly I'd take it as quite negative, same thing I noticed but didnt underline significance @ATH.

SquallLeonhart

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Quote from: justdimin on August 12, 2022, 12:24:09 PM

Quote from: bitterguy28 on August 11, 2022, 04:17:27 AM

Bitcoin finally stays at 24k today , this is the first increase in this level for several months now and maybe in the next coming hours Bitcoin will cross that 26-26k and i voted for YES.
It has been long that price stays lowering and just this August that we can see light again.
I am longing for at least 30k this August before the BER months starts the wave.
and finally in December at least 50k will be best for me and all of us.

That's how it will be. We are going to see it do well for a while and not do that well for a while and it will eventually stay above a level and stay there eventually. Today that number is 24k, tomorrow it will be 30k, then one day it will be 50k and eventually 100k. That's how bitcoin goes, there are days when we go down, and then there are days when we go up and stay there.

Thankfully it looks bullish right now and we stayed above 24k, but that doesn't change the fact that it will get a lot better and we shouldn't be happy about just the current situation, because this is very tiny compared to what we aim for bitcoin to be and it will be a lot bigger soon.

That volatile but not too much period is the riskiest period because people do not really know what's going to happen. I know that it is going to be pretty tough to reach to a level where it's not clearly stated if we are in a bull run yet or not. But we are going to get there and it is going to be quite good when we get there.

Sometimes we stay above a certain price and sometimes we fail to, whenever a new price is reached we are going to wonder if that's now or not. That's going to be quite tough but we are going to see it one way or another. At the end of the day it would be a smart decision to just buy or hold, because selling would not yield any type of benefit at all.

Dave1

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Quote from: Detritus on August 12, 2022, 06:20:08 PM

The market structure is bullish for the short term am bullish too. If it keeps holding above $24k, I think $25k is possible and so it keeps on.

Right, everything seems to be pointing to $25k, because as far as I'm concern, it has weaken already after several attempts to breach that.

So the next target will be around $26k-28k this month at least, everything looks bullish short term already so why not? And if we get to there, then $20k has been the support and just a couple of months ago, this seems to be a resistance. So we are heading in a very positive way this August and this could snowball up to the end of this year.

GreatArkansas

legendary

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Quote from: tokeweed on August 03, 2022, 08:33:56 AM

(.....)
Question in the poll... I think 25k is a solid psychological resistance.

The green candle after three consecutive red candles on a monthly timeframe was a good thing, it's more likely a trend reversal. Now after that, we can feel that Bitcoin started to create strong support at around $20,000 which is also a good thing a resistance from the previous 2017-2018 bull run.

Detritus

member

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The market structure is bullish for the short term am bullish too. If it keeps holding above $24k, I think $25k is possible and so it keeps on.

Topic: BTC Sentiment Poll for August - page 3. (Read 998 times)