Topic: BTC Sentiment Poll for May - page 2. (Read 798 times)

Yea, some minor moves can also be expected but it will be within the 26k and 27k window. I do not see bitcoin exceed 28k this month. However, from the first week of next month, bitcoin will make a push above the 28k resistance. The consolidation is much and it has to release it's first upper shoulder leg. That will give profit to people who bought within this side movement times. Then, the small green movement will not last long and correct again to the 25k to 27k range.

Market manipulation is made possible mainly by whale who have large sums of money. They will not announce profits for any reason even if they have made big or small profits, but manipulation does exist.

In fact, the bitcoin market is still very mobile, whether it's a matter of bullish or dump prices. It's easy for people to panic when lots of bitcoins are transferred to exchanges, while FOMO also often rushes traders when large amounts of USDT or stable coins are known to hit exchanges. These two things are part of the manipulation of big investors or whales, so I think manipulation is always possible regardless of whether they are successful or not.

The sideway can still be expected for the rest of May, but may remain the same through June if there is no change in trend.

If it was really investors who were manipulating the market all this time, then the manipulators have probably achieved what they wanted because the market has been pretty stable for quite some time now, I don't even have a count for the days since the price of Bitcoin has been within the range of $26k and $28k and it is still right there.

Market makers will need to show us some movement either positive or negative because this is getting too boring now. We should either see a further drop so that we can buy more or it should start going up so that panic sellers get some hope.

Price has been trending side ways and slightly down.  Monthly chart shows BTC is down by a tad over 8% so far for May.  It's not that bad but I'm starting to see some guys becoming a little bit bearish as they're expecting more chop if 26.5k doesn't hold.  I guess it could be seen as a good thing...  At least for me it is, as it could be that time in the market when BTC needs to drop down befor it could go up.  Dunno...  But from the looks of it, there's just not enough buyers at the current range.

Historically, the halving has been a game changer, but if I remember correctly, the bull season will only come a while after the halving, the bulls will only come a year later. If things repeat, we won't have the positive movement many are expecting with the halving. I remember, when bitcoin recovered from $3k to $12k in 2019, and before the halving, bitcoin also dropped to $4k again. If history were to repeat itself, more people would be disappointed than excited about having to wait another year.

They clearly do not care about the country's debt hehehe. There are also some Democrats who propose that Biden should exercise his authority from the 14th amendment which arguably might allow the president to cancel the debt ceiling for good heheheee. However, I reckon the Democrats might only be using it as posturing tactic to pressure Kevin McCarthy and the Republicans to agree on a deal.

Yes - but of course things can change so quickly. Historically there shouldn't be much bullishness during June - December, but a recovery in bitcoin price can be expected. May has been a month that has basically proved the sideways sentiment right – but some minor moves can also be expected to test the $28k resistance.

I expect $29k to be broken before May ends or at least a green candle can be created for 1 month TF. It's a small chance, but bitcoin should be able to do something even if the predictions go in a different direction.

What evidence do you have of this market manipulation? I've seen little to no market manipulation this year, at least not on longer-term time-frames (ignoring short-term wicks), can enlighten me?

The big moves we can see this year can all be very easily explained by normal market behaviour, a few examples:

* Breaking above $18K leads to a quick re-test of $20K, as the breakout target is around 10% to the upside, as confirmation that bears unable to push prices lower
* Breaking above $20K leads to trend reversal (above 200 Day MA for first time since 2021), therefore momentum increases until price reaches $25K resistance
* Price corrects from $25K to $20K to the 0.382 fib retracement level from recent rally, back to the 200 Day MA to re-test it as support, the most predictable outcome
* Price rebounds strong from support as the bull trend is further confirmed, breaking through $25K (after third test of resistance) and reaches $30K resistance level.
* Price consolidates above previous resistance of $25K and below current resistance of $30K. Volatility remains low, indicating lack of manipulation.

That's just a few examples. The type of price movement is expected in the Bitcoin market after consolidation in a range for 6-9 months.


If there is to be market manipulation, it will be pushing prices lower, not higher, in order for whales to re-accumulate at lower levels. Right now the expected support is from previous resistance around $25K, or the accumulation zone of $23K, so the "manipulation" would need to be a push much lower that what is likely, such as sub $20K. Everything else is just normal price corrections within an uptrend.

That's more of a debt crisis than a debt ceiling crisis because they have and will increase the ceiling and continue increasing the national debt. Part of the crisis is the rate at which it is increasing which is scary. It surpassed $30 trillion in February 2022, in just one year (that's 3 months ago) it had grown by $1.5 trillion. From February to today it grew by another $300 billion and counting!

At times like this one should appreciate bitcoin with its capped supply...

You sincerely did not participate in the poll, if you did you will understand that the sentiment of the majority is what happened in this month of May. You may try to visit the first page and check the result of the poll and you will understand that majority voted that BTC will move sideways which is just what happens.
There might not be major bull again till halving unless there is a powerful fundamentals to move the market in either directions.

We Are week before May month ends but still  the value of bitcoin stays on how much it started after April so meaning that the sentiment of everyone either to go pump or low this month comes to nothing because it looks like we will stay this all 2023 and maybe some big changes to come before the end of the year or the start of at least new year, because halving is coming and yes this is game changer .

the saying seems not to stand this year? because leaving may for me is a suicide since the halving is near to come and watching the market closely is what w need now.
imagine leaving your folio in dark while holding when there are many ways to purchase more now and to earn bigger in the next year.

I am not surprised that the price at this point in the month is in line with the poll, which was slightly bullish but trending sideways. It looks like we are in a dull phase and will remain so for a while, but as we get closer to the halving the price will tend to go up to come the best after the halving. In the meantime, let's wait and see.

The debt ceiling will be raised, everything that is being speculated about this not being raised is only fud. However, if Jim Cramer whispers that he is quite certain that it will be raised, I think we should dump everything hehehehhe.

On China, I very much agree. There will be Chinese crypto projects that will be whitelisted by their government to fulfill the country's blockchain ambitions. President Xi said in a speech that he wants China to be the leader in information technology including blockchain by 2030. It has also been mentioned before that much of the most profitable trades for the next bull market might be the projects that will be created by Chinese developers. These projects will not be very known unless you are active in Chinese crypto community channels in Wechat and Weibo.

Sideways would be the best answer on any month 'coz the market price alone is volatile. But dominantly, the market price of Bitcoin perhaps is lower than the market value last month of February and that is because of the correction happened around $32k. I think as long as the market price of major tokens are not down by 30%, things would be fine and prices are subject to go up again few weeks or months in time.Touching the support will already create a tendency for a reversal. What we've witneesed this year is total market manipulation by huge investors; having huge pumps and dumps without any strong reason. And with that, ofcourse they won't simply let the price slide too low not unless something of a big news would happen that will negatively affect the demand towards this industry.

While I agree with this theory, I also think this will get confirmed on a Weekly time-frame prior to the Monthly. The 200 Week MA is around $26.1K which was tested last week and this week price is struggling to find support (bounce back to the upside) from this level. So if next week this MA is re-tested and fails to act as support, price can slide further to the downside before the month comes to a close.

I'm not particularly concerned as there is a lot of accumulation volume around $23K, and potentially even $25K will act as support, given it was previous resistance for many months. But to me the idea of $27K holding as support (like it has for the past 2 months) looks increasingly unlikely as price is struggling to maintain above this level. Only a strong rebound next week can turn the situation around quickly imo.

We are yet to see panic sellers start, these are just normal trading activities and aren't panic sellers reacting to the market sentiments that whales might be trying to create. I don't think that whales would in any way try and hold the price at one position, their motive should probably be to drag the price down so that they can accumulate more at a lower price.

If the price stays within the range of $26k-27k for the whole month, we will probably see some upward movement right at the beginning of the next month, but if it drops below this range, we will be seeing it going down to $23k-22k at least.

^  It's not just about those selling the market down as there really are whales who run everybody's stops as a trading strategy.  Some even are the exchanges' market makers themselves that do it.  It's not that their manipulating the market per se but they need to take the market where most likely there's more action and liquidity.  Kinda like how sports betting sites set the odds.  They take it where they think there's likely more action.

But yeah...  It's looking like the market needs to go down before it could go up if that makes any sense.  Not a lot of people are willing to buy at the current range.

Sure, those who bought >$30K may well be staying away from current prices, but this has zero effect on the market. Ie a potential buyer not buying doesn't mean price will decline. The only reason for price decline is obviously those selling (taking profits most likely) or otherwise shorting the market (likely again for short-term gains). Lack of buyers is a reason to go sideways at best, but never downwards, as that's selling pressure.

There is otherwise enough data to confirm that those who bought in the past 1-2 years, so between May 2021 and 2022 (notably >$30K) have been consistently selling, as participants that were previously 20% of the market and are now 13%. Whereas in contrast in the same time period 2-3 year holders have increased from around 6% go 14% in the past year, naturally made up by the other half of 1-2 year holders that didn't sell.

$27k might seem expensive for some, especially for those who were carried away by the bull market and eventually caught up by the bear market. Anyone who entered the market in 2021 at price above $40 is still not seeing an entrance point by now. While I would advice them to proceed with DCA. Those who exited the market and missed the $15k range because of skepticism, really has a fair price to rejoin the market.

-20 to -25% correction happens when the market is retracting to make Ia reasonable pull. There seems to be a kind of consolidation between 26 and 27k range and this might continue in this range till the month of May is over