Topic: BTC Sentiment Poll for February (Read 588 times)
^ A good post to end the thread. Locking it now...
So February has come to a close. This is one the most neutral doji candles I've seen in a long-time at +0.02%. Slightly longer bearish wick than bullish, but overall very much a "standard doji".
I guess the bullish sign is that Bitcoin held onto the +40% increase from January, despite many expecting price to pull-back further already. The bearish sign would be the second consecutive rejection from the 50 Month MA @ $23.6K as well as failure to close above July high of $23.3K, though yet to see bears follow through. For now I think it more likely signals continuation to the upside rather than a trend reversal.
Officially this is otherwise the smallest loss/gain candle recorded on Bitcoin monthly chart. Last time there was a doji similar to this was January 2017 or otherwise March 2012, prior to further upside.
I guess the bullish sign is that Bitcoin held onto the +40% increase from January, despite many expecting price to pull-back further already. The bearish sign would be the second consecutive rejection from the 50 Month MA @ $23.6K as well as failure to close above July high of $23.3K, though yet to see bears follow through. For now I think it more likely signals continuation to the upside rather than a trend reversal.
Officially this is otherwise the smallest loss/gain candle recorded on Bitcoin monthly chart. Last time there was a doji similar to this was January 2017 or otherwise March 2012, prior to further upside.
^ For that, I think looking for some alt to buy for a fraction of the 6k you're planning on getting BTC could give you better results and could give you the proceeds to buy even more BTC. There's a risk but seeing the whole market right now, it feels like it isn't going to sell down really deep.
I'm really just doing it for the lulz and risking a couple hundred bucks but check out the 'looking for the next great 1000x' thread in the alt section.
I know it's a joke but doge themed coins and coins with dog logos could make their investors a lot of dough again. And DOGE to 1 USD isn't going to be a meme anymore at the coming bull market... It really could happen now... Not to mention Elon Musk who could just sneeze the word 'DOGE' and everybody starts buying.
I'm really just doing it for the lulz and risking a couple hundred bucks but check out the 'looking for the next great 1000x' thread in the alt section.
I know it's a joke but doge themed coins and coins with dog logos could make their investors a lot of dough again. And DOGE to 1 USD isn't going to be a meme anymore at the coming bull market... It really could happen now... Not to mention Elon Musk who could just sneeze the word 'DOGE' and everybody starts buying. 
No... If I'm right it all goes back down to 16k - 18k: buyers come out then it goes back up to 23k - 24k: sellers come out. So BTC ending up being range bound for a time until the buyers get their fill at the bottom of the range and the sellers run out and will prolly end up buying too at some point. Dunno.. But all these guys blindly saying to buy the dip are right for now.
And I still think all the stuff that's going on in the world will still have an effect crypto. And it's all not looking good rn.
And I still think all the stuff that's going on in the world will still have an effect crypto. And it's all not looking good rn.
My latest "realistic fantasy" scenario is like this: I save as much fiat as I can this year (by converting a little more BTC than usual each week/month) and hopefully, after 10 months I can set aside as a reverse DCA, maybe $6k (it's the best I can do, about $500 a month)... and then by then, or soon after, we see that super dip.
If you're right at 16k (I'm thinking $14?) then that gets me almost ~0.4 BTC, something difficult for me to get anyway.
If we're wrong, and BTC goes back to say $30k, I'm buying it all anyway and get only 0.2 BTC.
It's not even much but as I said, I'm willing to try this, because if worst case scenario happens (I also believe the bad stuff going on around us has yet to really bear in) and we even see sub 10k, I would be very well positioned. And I've never been in that position =)
I mean a point when there are less sellers than buyers... Meaning sell downs happen less and buy ups happen more. I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point. If so then BTC could be range bound from 16k to around 23k - 24k range... Like sellers only start to come out at 23k - 24k. Dunno but seems like we aleeady hit bottom. I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'. I usually just buy the momentum and go with it. Lol. Leaves some money at the table.
Which, if you're right, means they're just about to pop up then with today's surge looking to retake lost ground above 23k.
Buying bottoms? Not really my thing, as it means setting aside cash for that...
I actually never sold any tops, but have been able to benefit slightly from bottoms thanks to DCA, I'm usually less concerned about that as Bitcoin spends a lot of time near the floor... my hope is I actually call the next top as I'm not getting any younger!
No... If I'm right it all goes back down to 16k - 18k: buyers come out then it goes back up to 23k - 24k: sellers come out. So BTC ending up being range bound for a time until the buyers get their fill at the bottom of the range and the sellers run out and will prolly end up buying too at some point. Dunno.. But all these guys blindly saying to buy the dip are right for now.
And I still think all the stuff that's going on in the world will still have an effect crypto. And it's all not looking good rn.
Wow this is one hell of a move in like just one day. Its held the line, reacted massively upwards and has to be taken as very bullish for the rest of this month. We have maintained at the top of the range for the price action since year start where as I had thought we'd have to pull back far more in either time or price to resolve sellers in the order books
The next bundle of volume would be at 30k area. We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.
Yeah, i wasnt expecting that and now the price is trying to break that 25k resistance.If ever this would be having that breakout then we would be seeing 30k soon but im not really that makingThe next bundle of volume would be at 30k area. We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.
myself getting that too hyped.I was honestly expecting for some dump considering that CPI report but it seems that it had been rejected but instead it do make out some
good increase in 24h% which i wasnt expecting and for sure the entire community doesnt really be able to see that coming.
Wow this is one hell of a move in like just one day. Its held the line, reacted massively upwards and has to be taken as very bullish for the rest of this month. We have maintained at the top of the range for the price action since year start where as I had thought we'd have to pull back far more in either time or price to resolve sellers in the order books
The next bundle of volume would be at 30k area. We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.
The next bundle of volume would be at 30k area. We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.
Huge possibilities are there for $25k to be printed on the charts considering how bravely btc fought the kraken crackdown and even after a strong dollar where EUR and GBP are getting weaker, btc made its move towards breaking the recent highs and entering a fresh bullish phase again. With all the shit that happened, the kraken crackdown and Paxos ordered not to issue BUSD, and localbitcoins shut down their services, btc holding above $24k is its charm that's creating a difference this time.
I voted for yes, we have seen the price almost touching $25,000 already, so it's just a matter of time before we can go to that level. Although we have some minor correction after going $24,000++ but that's how it has been throughout this bull run.
Yes, I also voted within $25,000. I expect the market to hold Bitcoin in the $25,000 range very soon, perhaps as early as today. The market is currently standing at $24308. Maybe it doesn't take much longer to reach $25,000. Wait and let our target be met.Let's see how it goes, everyone is very excited after last month's pump and I'm sure no one has anticipated that.
The year 2022 was the bloody year of Bitcoin. After this bloody year in 2023, Bitcoin created new excitement in the market. I am very happy to see the new condition of the market. Because my investment is now on the way to recovery. So I am mentally very good here because the market is good.
I was not really optimistic but seem to believe that Bitcoin price will never reach $25k or it becomes stable to $23k. However, was convinced that it stays above $20k this month.
The current momentum is not enough to move the market high. Even though we've done the scam issue with FTX and the war in Ukraine and Russia, the buying volume is still low to move the market price increase fast. However, the situation will indicate to something more positive this year, and that is what we wanted to happen.
The current momentum is not enough to move the market high. Even though we've done the scam issue with FTX and the war in Ukraine and Russia, the buying volume is still low to move the market price increase fast. However, the situation will indicate to something more positive this year, and that is what we wanted to happen.
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It's looking like the bulls are back as we've seen with the more than the 30% rise in BTC's price just for the month of January alone. But even with that high of a price increase, I still see some folks say that we're still not of the woods yet. Surely there's some hope that we are out... What do you guys think?
I didn't expect it to go up this high at 24k tbh. I thought it was gonna go around 22k - 23k range, go back down to 20k then go side ways after that.
At the beginning, I was also didn't expect Bitcoin will go up to 24000+ after seeing the bearish market movement of the past year. I also thought it could go into another new dip market after touching around 22k-23k. But today after proving my guess wrong, Bitcoin touched 24300. So the current signs seem to be that Bitcoin may go to 25k or around 25k or even above this month. I didn't expect it to go up this high at 24k tbh. I thought it was gonna go around 22k - 23k range, go back down to 20k then go side ways after that.
Even then I would say to still watch the market, as Bitcoin re-entered the down market after touching 28k last year. But for long term investment I think the road is still open.
Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
I agree that breaking over 24k is likely, it is looking even more likely everyday, but we should still be careful about it, do not put all of your eggs in one basket, make sure that you are invest in safely and not taking useless risk, it would be bad for you in the long run.I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
I know it is not going to be such an easy task to handle, but that doesn't mean that we should be able to do it, it is something we should be careful but also hopeful about because we know that it is going to be possible for bitcoin to go up, not only possible but basically the likely situation for sure. We just need to arrange our portfolio in a way that any drop wouldn't hurt us too bad, but any increase would benefit us.
And just like that, we did break $24k today, not sure what is the reason for this huge 8% spike in just 24 hours, but for sure there is a positive news behind this break out run again.
So we might say it's easy task for us to break it because it just took less than 24 hours.
But the big question is that whether we can maintain this pace, or will there be another correction. If we can sustain this run, then definitely $25k is there for us this month.
Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
I agree that breaking over 24k is likely, it is looking even more likely everyday, but we should still be careful about it, do not put all of your eggs in one basket, make sure that you are invest in safely and not taking useless risk, it would be bad for you in the long run.I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
I know it is not going to be such an easy task to handle, but that doesn't mean that we should be able to do it, it is something we should be careful but also hopeful about because we know that it is going to be possible for bitcoin to go up, not only possible but basically the likely situation for sure. We just need to arrange our portfolio in a way that any drop wouldn't hurt us too bad, but any increase would benefit us.
So far it has been a decent month, but not really doing as well as we hoped neither. It is still above 20k after half of it is gone, in fact since its 28 days, we are beyond half of it already and that is why I believe that it is going to be a troublesome situation. I think it is going to be something that will hurt a lot of people if it goes down even more, but usually that means it will go up. I know you may think "but it went down before" but people made so much profit before that, right now everyone is in minus and they are all looking for a way to make a profit from this as soon as they can.
How a month starts is very important, in the end there are too many people who think that it will be a big deal and break out and that will be the thing they will base their investments on.
However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.
But still, the bull run has really happened since the beginning of this year. Bitcoin is up 50%, so now the other coins are going up as well. I think that the growth will continue, because yesterday there was negative news about inflation in the USA, but bitcoin reacted to it with growth. I think that's a good sign. However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.
I mean a point when there are less sellers than buyers... Meaning sell downs happen less and buy ups happen more. I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point. If so then BTC could be range bound from 16k to around 23k - 24k range... Like sellers only start to come out at 23k - 24k. Dunno but seems like we aleeady hit bottom. I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'. I usually just buy the momentum and go with it. Lol. Leaves some money at the table.
Which, if you're right, means they're just about to pop up then with today's surge looking to retake lost ground above 23k.
Buying bottoms? Not really my thing, as it means setting aside cash for that...
I actually never sold any tops, but have been able to benefit slightly from bottoms thanks to DCA, I'm usually less concerned about that as Bitcoin spends a lot of time near the floor... my hope is I actually call the next top as I'm not getting any younger!
Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.
However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.
How a month starts is very important, in the end there are too many people who think that it will be a big deal and break out and that will be the thing they will base their investments on.
However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.
However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.
Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.
Yeah but just saying, there could come a point when the market runs out of sellers and some people still holding their bags start going 'fck it, I'm holding all my sht to zero' aka stop caring about the news and all the economc data they churn out.
Anyway, I've been doing these sentiment threads for a while now, I wonder how the BTC turned out on the month vs user sentiment... Will check it out if I'm in the mood.
I feel like we're more in tuned with the market than most folks.That'll never happen, at least, not for too long but yeah of course, I completely buy into the theory of temporary seller exhaustion. Call it what you want, weak hands all gone, I call it purging of the speculators.
That said, if all we have left are bagholders who aren't using or spending, it's also not good for Bitcoin's long-term health. So in that sense, every seller creates a transaction, so I kind of see them as vital for transactional "health" haha.
Cool if you put sentiment out and forum regs chime in. I want to know if it's a good idea to sell some BTC now to buy back in at a... 25% dip? I never done it and don't play the game but I wonder if, instead of doing that, freeze my DCA for a while to wait for the dip and lump in all in? Don't ask me why I'm suddenly feeling like this heh.
I mean a point when there are less sellers than buyers... Meaning sell downs happen less and buy ups happen more. I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point. If so then BTC could be range bound from 16k to around 23k - 24k range... Like sellers only start to come out at 23k - 24k. Dunno but seems like we aleeady hit bottom. I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'. I usually just buy the momentum and go with it. Lol. Leaves some money at the table.
BTC makes new low for Feb today but also is now challenging the 48hr moving average. With the low in the region of 21k it could be we have a local bottom and challenge the momentum downwards till the end of month however this remains to be seen. 22.3k is about the cap for this move on initial buying alone, it has to build above and confirm 22.5k or higher not to fail like most bearish trend rallys do.
Last Thurs was a bigger down day both price and volume and thats the measure to meet for beating the inertia accumulated downwards. Outside of that we are moving in a range set since that down day, fighting action downwards but with no success upwards to date. Presume we repeat until we actually doing something new, this isnt quite it yet.
Last Thurs was a bigger down day both price and volume and thats the measure to meet for beating the inertia accumulated downwards. Outside of that we are moving in a range set since that down day, fighting action downwards but with no success upwards to date. Presume we repeat until we actually doing something new, this isnt quite it yet.
We have seen the price moves to $21,800 but then, no push so yeah, it's has been a challenge in the last 48 hours and it seems the bears take control of the market this February.
Although price is still just above $21k, we may never know what the bears can do on this price.
And with that, it will be hard a close pursuit to $22k at the end of the month.
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