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.
Topic: BTC Sentiment Poll for February - page 2. (Read 588 times)
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.
Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
But does past economic performance really still have an effect on BTC and the altcoin market?
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. Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
But does past economic performance really still have an effect on BTC and the altcoin market?
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.
yep it does look like there are no bears going to sell as such price anymore after it wont 24k last week. but the greed index in crypto market this week is not encouraging. its still in neutral 49 https://www.cointree.com/learn/crypto-fear-and-greed-index/
i guess it also convince investors that we are really no yet out of the woods.
while dow, s&r is already in the greed 70 https://edition.cnn.com/markets/fear-and-greed
i guess it also convince investors that we are really no yet out of the woods.
while dow, s&r is already in the greed 70 https://edition.cnn.com/markets/fear-and-greed
Yeah, the index hasn't been as important to me as tech stocks index, not that I trade, it's just to me now a better indicator of what to expect in Bitcoin at least until the global economy calms down.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
But does past economic performance really still have an effect on BTC and the altcoin market? I feel like after FTX's demise, the crypto market showed that it had nothing more give in terms of sell downs and went down not by much if we compare it with the Luna fiasco. If the market really had more sell downs to give I think it would've went down to 12k? Dunno... But it sure looks like there aren't much sellers at the 16k - 20k range.
A lot of you guys would prolly welcome another sell down to 16k just so you could pick more up.
yep it does look like there are no bears going to sell as such price anymore after it wont 24k last week. but the greed index in crypto market this week is not encouraging. its still in neutral 49 https://www.cointree.com/learn/crypto-fear-and-greed-index/
i guess it also convince investors that we are really no yet out of the woods.
while dow, s&r is already in the greed 70 https://edition.cnn.com/markets/fear-and-greed
Pretty much everyone said yes when this thread was created but for the past few days the things are not going in the way we expected and there seems a reversal of trend and let's hope its just a short term atleast will not break 20K resistance,
Do we have any other big news that caused the price to crash when its constantly growing for a while?
Do we have any other big news that caused the price to crash when its constantly growing for a while?
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
But does past economic performance really still have an effect on BTC and the altcoin market? I feel like after FTX's demise, the crypto market showed that it had nothing more give in terms of sell downs and went down not by much if we compare it with the Luna fiasco. If the market really had more sell downs to give I think it would've went down to 12k? Dunno... But it sure looks like there aren't much sellers at the 16k - 20k range.
A lot of you guys would prolly welcome another sell down to 16k just so you could pick more up.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
But does past economic performance really still have an effect on BTC and the altcoin market? I feel like after FTX's demise, the crypto market showed that it had nothing more give in terms of sell downs and went down not by much if we compare it with the Luna fiasco. If the market really had more sell downs to give I think it would've went down to 12k? Dunno... But it sure looks like there aren't much sellers at the 16k - 20k range.
A lot of you guys would prolly welcome another sell down to 16k just so you could pick more up.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Yeah tho I wouldn't have said the same thing a week ago tbh. But now it's looking like it's having a bit more resistance at the upper 23k range. Could it be just a correction? Maybe... But what we prolly need right now is for BTC to go back down around 20k and let those people in the side lines join the ride and push the price up again and hopefully get it over 25k.
Anyway, US session is starting in an hour or so and it looks like it's going to be red judging from the SPX futures. Let's see how crypto reacts when it starts.
I voted yes on the poll when this thread was created, however, there are very concerning reports that SEC comissioner Gary might become more aggressive in enforcement of regulations on exchanges, Defi projects and banks that are cooperating in the cryptospace to put them under the control of the government. The fear this might create on investors might cause bitcoin and all of the cryptospace to another big dump again.
SCOOP:@GaryGensler
is embarking on a "midnight massacre" in an attempt to bring all of #crypto under his control. In the coming weeks, the @SECGov, @NYDFS and the @USOCC will be bringing a myriad of enforcement actions against exchanges, banks and entities that mint tokens in an attempt to label the majority of them as securities. I'm told Gensler's strategy is to bring as many enforcement actions as possible while the 118th Congress is still getting its bearings.
Source https://mobile.twitter.com/eleanorterrett/status/1623796900586573826?s=12&t=Y8PGZiPJkfD7x2wbVVy53g
I reckon they have began on Coinbase and Kraken already.
SCOOP:@GaryGensler
is embarking on a "midnight massacre" in an attempt to bring all of #crypto under his control. In the coming weeks, the @SECGov, @NYDFS and the @USOCC will be bringing a myriad of enforcement actions against exchanges, banks and entities that mint tokens in an attempt to label the majority of them as securities. I'm told Gensler's strategy is to bring as many enforcement actions as possible while the 118th Congress is still getting its bearings.
Source https://mobile.twitter.com/eleanorterrett/status/1623796900586573826?s=12&t=Y8PGZiPJkfD7x2wbVVy53g
I reckon they have began on Coinbase and Kraken already.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.So, when they see a bull starting, they are not entirely sure and that is true that these small increases are not as bullish as it was in 2020, which means that we are not going to suddenly be 10x or anything, this is more like even in best chances we will be 2x and that is still a great thing and it's still a bull but people need to relax and just realize increases can be called bull without being feared.
really that trying out to claim that it was a bull trap which is really that a very wrong idea to have. Sentiments for this February does really seem like to be quiet and there's no fundamentals
around which could trigger out some possible huge significant movement but its not still that assured.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.So, when they see a bull starting, they are not entirely sure and that is true that these small increases are not as bullish as it was in 2020, which means that we are not going to suddenly be 10x or anything, this is more like even in best chances we will be 2x and that is still a great thing and it's still a bull but people need to relax and just realize increases can be called bull without being feared.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Yeah, I think it's very quick if we are going to hit $25k by this month. I might be leaning towards next month as well, thinking that the buyers are going to be exhausted with all the effort pushing to $24k++ and then the price goes down again.
Right now we are below $22k, a good support, not sure what happen, but for sure $20k will be biggest support if ever we re-visited this price this month. The only negative news that I see is the closing of LBC, but not sure if this is main reason for the price to go down again.
Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.I think BTC at anything above 20k USD is bull territory after hitting the lows of 16k imho. But if it goes down below 20k but holds 16k then I think it's another great time to buy. If it fails to hold 16k, jfc help us as 10k - 12k would be in the cards. Let's hope none of that sht happens.
Anyway the poll has 22 votes for yes and 3 votes for no. Looks like sentiment has changed 180 degrees from the last couple of months prior to January. Still three weeks til the end of the month. BTC could still end up in the green.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.I don't know if there's a strict time frame for a possible bull trap to lose its "trap-ness" but the quick rise only happened just a few weeks ago. For a couple of months, the price was not even $18,000. All of a sudden, it leaped beyond $20,000. Yes, it stayed there ever since, but "ever since" is just from mid-January. We are still within the first half of February, so I think the quick rise possibly a bull trap is still valid. Everything is still short-term from that point. Although I hope I'm wrong.
I see some says it's 45 days? Anyhow, I will also tend to agree that it's not a bull trap but a genuine run up to $20,000 and higher, it even goes as high as $24,000 at one point.
But now it seems that the price is going on another correction phase, so no $25,000 for us. Although it's too early, we barely entering the 2nd week of this month and maybe at the end we might see $25,000 and so this is no longer a bull trap.
For my view I have always sees it to be a bull trapped though I never expected it to be this high as then I was thinking it could only gets to 23k or possibly to 24k before dropping back to 18k and then to 29k. But as we can see no one can actually predicts the bitcoin price with all 100 percent assurance rather of a possibility statement.
most of us did think in the beginning because we sees no reason for the said pump but as the time progress and runs? yes now we can see strong hold for 20k and above that shows us to stay positive and possible increase in holding.this also add trust for other holder to start buying now as they have waited for long from the dump of 2022.
lets see how it will turn if we broke that 25k resistance this early February .
So, what happened isn't just a bull trap therefore people must not be scared from accumulating more Bitcoins because the price won't collapse hard after it but there might be some small correction that can come along the way which is normal and felt every after new increases. We still have more time to break that $25k resistance this month and if ever it's a success then I expect more strong increases can take place.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.I don't know if there's a strict time frame for a possible bull trap to lose its "trap-ness" but the quick rise only happened just a few weeks ago. For a couple of months, the price was not even $18,000. All of a sudden, it leaped beyond $20,000. Yes, it stayed there ever since, but "ever since" is just from mid-January. We are still within the first half of February, so I think the quick rise possibly a bull trap is still valid. Everything is still short-term from that point. Although I hope I'm wrong.
Although the possibility that all of this is a bull trap is always there.
But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since. Jump to: