BTC Sentiment Poll for May - page 5.

batang_bitcoin

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Quote from: tokeweed on May 05, 2023, 08:21:54 AM

Anyway, hard to know what really happens with BTC and most of the alts.

Maybe this is just part of the cycle that we usually see when we're heading to the halving. It's hard to know if some news do really affect it or it's basically the cycle that moves on its own and while it shows some bearish patterns, it won't be long until bitcoin recovers rapidly after that awaited low comes.

Quote from: tokeweed on May 05, 2023, 08:21:54 AM

memecoins are doing well tho. PEPE is almost at 1 billion USD market cap. And in just a couple of weeks too. Crazy...

That's what these meme coins are for and I guess after this crazy hype that PEPE is building, all of the profits of everyone who's wise enough will put it eventually to Bitcoin as they know that it's the best place to put it before the halving comes.

dragonvslinux

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Quote from: tokeweed on May 05, 2023, 08:21:54 AM

Quote from: boltz on May 03, 2023, 02:38:11 PM

Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

Looking very bearish right now? It's really looking like it's holding its recent gains even though there's a lot of bad stuff going on with the economy.

Indeed. I don't understand the concept of price looking bearish when price is in a bullish structure, even if it is at resistance level. Last month there was bearish potential when price lost $28K accumulation/distribution zone, but then it was reclaimed within a few days that completely nullified any bearish outlook. Now this Month has turned green again with the move back above $29K:

I get that price could reverse at any moment despite the bullish consolidation over the past 5/6 weeks, but so far the bears have yet to prove that lower prices are coming. I also thought price might revisit $25K/$26K, even $23K at worst, but clearly the bears have failed to move prices below even $27K over the past two months with instead bulls have been buying prices below $28.5K on this time-frame.

Needless to say, the bulls remain firmly in control of the trend, despite the potential for a correction at any time - that is always the case in any bull or bear trend.

tokeweed

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Quote from: boltz on May 03, 2023, 02:38:11 PM

Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

Looking very bearish right now? It's really looking like it's holding its recent gains even though there's a lot of bad stuff going on with the economy. But yeah, I'm with you with the feeling that it could go down at any moment this month. The question is how low will it go and if BTC claws back the lost ground right away. I mean the momentum has to slow down at some point and it looks like it is now.

Anyway, hard to know what really happens with BTC and most of the alts. Some memecoins are doing well tho. PEPE is almost at 1 billion USD market cap. And in just a couple of weeks too. Crazy...

Kadal Ijo

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Today the market can go up about 2% and has reached $ 29k, of course it makes us even more optimistic that the market will skyrocket soon, if in April we fail to continue to rise hopefully May will be a good start for recovery, if this week it can return to $ 30k so I'm optimistic that by May the price can reach at least $40k.

adaseb

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It seems that whenever some bank collapses Bitcoin seems to rally. Right after the fed meeting, the shares for PACW tanked like 60%. So most likely we will have another collapsed bank this weekend. There were others such as WAL which also tanked.

So there is a good chance we might get half a dozen banks which collapse and Bitcoin will definitely rally due to this news since banks obviously aren’t safe to keep your funds. Will be an interesting month.

LogitechMouse

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As long as Bitcoin will stay above the 200 Weekly Moving Average, I will remain bullish on Bitcoin thus, I expect Bitcoin to surpass the $30,000 at least this month, and stay above it.

Current supports are at the $27,000 level and the $24,000 level which is the 200 Daily Moving Average. I always use the 200 MA, and for sure most traders and TA users as well because that indicators tells the trend of a coin, and in this case it's Bitcoin. Looking at the chart some have posted here, in the last 2 years, the month of May has been very harsh to users as we have seen double digit negative returns.

Well, we've seen Bitcoin going up in the first few days of the month after it going down to as low as $27,000. Anyway, I'm still bullish regardless of what happen unless it goes down below the 200 Daily or Weekly Moving Average then I will change my sentiment.

Husires

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After the Fed continues to raise interest rates by a 0.25%s rate hike, to be higher than 5%, I expect the continuation of testing 26k and 24k as support levels throughout this month, with the absence of any possibility of a green candle that promises us to the levels of 30k.
The pressures in the coming days are at 27K. If they do not hold, we will not see 30K during the current month at least.

el kaka22

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It looks like there is a bit of undecided feeling in the market. A lot of people said down, a lot of them said up. When it is like this, usually the downs win because ups can't make it go up by themselves but downs can.

It is easier to make bitcoin go down, you do not need money, the bitcoin is there already, you just have to sell it, but making it go up is higher, because the money is not there to buy that bitcoin, so it doesn't get bought up that easily, it takes time and it requires all of the market to think the same. So if up gets 90% of the votes then it will get up, but if downs get even if like 50% they would make it go down, it will not be that simple and it should not be a good deal. I hope that it will do well in the future, but this month may become more stagnant if this voting is any indicator.

boltz

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Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

beerlover

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Quote from: dragonvslinux on May 02, 2023, 08:41:13 AM

I also remembering hearing this theory in 2019 when Bitcoin was at around $5K after a months worth of consolidation, but instead it continued to increase up to $14K by June, so not convinced this theory is that reliable for an asset like Bitcoin, even if relatively reliable for traditional markets. In contrast, the S&P did indeed have a correction followed by consolidation in May 2019 until around October.

I'm not suggesting Bitcoin is going to increase by 150% within the coming months like in 2019, but that this may well be the time Bitcoin decouples (further) from stocks and traditional markets if they are to enter a period of consolidation or correction. This decoupling is what could lead Bitcoin to increase again dramatically as investors who flee from stocks take an interest in Bitcoin instead, similar to 2019.

Not many theories are reliable because not everything that happened in the past will happen in the future, it may, or maybe it won't so we are just making predictions and guesses here and these are all purely assumptions. Obviously if you want to invest, you would need to do that, because if you do not try to predict, then how are you going to invest.

Every person who ever invested has made some type of prediction and that should be the case here as well, I believe it would be a lot better in the long run. I know that's not going to be easy at all, it will take a while but at the end of the day it is going to be an easy deal, and should be considered as a good profit if you could just buy and hold for example, that's a prediction too, and easy one at that as well.

lixer

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Quote from: Yaunfitda on May 01, 2023, 09:03:26 AM

Quote from: Oshosondy on May 01, 2023, 08:10:05 AM

Why creating similar thread again after we have started one: Month of May. Bitcoin price guess. Join discussion on the thread instead.

Next time, you do not even need to use search engine, just scroll down the speculation board to know if anyone has posted such a topic before thinking of creating one. Today is the first day of new month, you will see it among the topics that has been created on the first of new month and likely would be at the top of the page one on speculative board.

No offense but it seems that @tokeweed has been creating his own thread every x month and trying to get the sentiments of the members here.

For me I voted for bullish though, although we might have a minor correction in the last 24 hours. And could be trading sideways at the start of this week. Nevertheless, investors now are bullish just like the first 4 months and maybe we can break that $30k price again and then maintain it this May. It's good to see this kind of correction this early so that many can get in and fill their bags. So hopefully, we can reclaim $29k-$30k again.

Such corrections tend to create panic among buyers who bought just some points below where it is or where it's going. For the current price, the buyers around $25k might start panicking with a thought in their minds that their investments will lose value if the price drops below the point where they've bought and that can cause selling pressure.

That pressure can make this minor correction a bit of a major one and whales and bears will of course do their best to use the situation for their benefit and push the price further down so that they can get a cheaper price to refill their bags.

yudi09

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Quote from: tokeweed on May 01, 2023, 07:43:27 AM

There's a saying among old school traders that goes 'sell in May and go away' as historically May is a bad month for trading stocks and commodities. They take this time to be in the side lines and evaluate what their next move is gonna be for the following month of June and beyond.

As we're not really pros around these parts, it could be food for thought... Dunno. :/

It's looking like it's losing a bit of momentum tho.

https://i.imgur.com/QIOOl38.jpg

I concur with chart options going sideways in May.
Speculation for the April close missed $30k as what happened was the April close cost $29,362.
This sideways movement will continue for some time if prices compare April close to May open prices and the current price is barely a margin.

Amid speculation that the price is moving sideways, there is still optimism that attempts to go above $30k like the April highs will last a little longer.
Traders certainly need to even have prepared strategic planning from now on if an increased trial occurs and is able to last a little longer.

Edwardard

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Quote from: thecodebear on May 03, 2023, 12:53:58 AM

Think tomorrow the Fed will signal they will stop raising interest rates after this meeting

With just a few hours remaining for the FED to announce its next interest rate decision, its gonna be very interesting to watch the whole market react. However, I do think they will raise rates by 25bps today; should be already priced in by the market. So, a dump followed by a larger pump?

thecodebear

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Think tomorrow the Fed will signal they will stop raising interest rates after this meeting and so investors will stop being scared and we'll probably see more investors move money into Bitcoin this month if that happens. I expect a decent month, getting solidly over $30k, maybe hitting $33k - $34k at some point this month.

blue Snow

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Quote from: tokeweed on May 02, 2023, 08:15:12 AM

^ Nah I'm just here to find out what you guys think in these parts. There's no right or wrong answer to the poll imho. We're here to know the current sentiment. It's not about trying to get the right answer or somewhat 'winning a contest'.

Yes, I agree with you,

Quote from: KiaKia on May 02, 2023, 09:27:59 AM

This chart is interesting, but why should anyone care about it? Does this mean we should follow the same path? Do you think that's what will happen next? Because I doubt it, many traders on Youtube are using the past market structure of Bitcoin to judge the future of Bitcoin movement.

We shouldn't talk about care or not, and we shouldn't think will happen in the next future. but for me, it's just a reference for us to calculate how to take action next. So when I glance at the chart, that looks optimistic to me. It fits perfectly with halving the time that ever happened in the past. That looks suitable and fits when I compare it with 2015 and 2019.

I don't care about charts, if my intuition feel I must entered, I will do that.

Husires

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Quote from: tokeweed on May 01, 2023, 07:43:27 AM

There's a saying among old school traders that goes 'sell in May and go away' as historically May is a bad month for trading stocks and commodities.

This is not correct, or at least not true at the level of bitcoin.

This is a map of bitcoin monthly return from the year 2013 to the year 2022, which is a good period to guess what will be in the year 2023.

During the 10 months of May, there were 5 negative and 5 positive months, and the maximum correction in the negative was a decrease of 35%, and on the contrary, for the positive months, more than 3 times, an increase of more than 35%.
May is not bad at all.

Baofeng

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Quote from: dragonvslinux on May 01, 2023, 12:45:54 PM

Of course the market doesn't always continue in the same manner, even if it has done so for 4 months already, but unless there is a significant change in direction in the coming weeks then I still think price has more room to the upside (even if less than February/April months). I also think price may well re-test $25K before reaching $32K, in order to create a bullish wick on Monthly time-frame.

That's also the scenario that I personally wanted to see, I mean I'm not bearish on the market, but it seems that in the first 4 months, the price is going on the upside. We need to take a breather and need to see something for the price to retest some kind of levels. Which means going down to $25k and then those who are waiting for a good price will take that opportunity.

And then the price going on the and reaching $32K. That's some pattern that we have seen before, going down and then climbing up more than the previous high. So let's see this kind of scenario and hopefully the market will react positively in the long run or at this the next 20+ days of this month.

aoluain

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Quote from: KiaKia on May 02, 2023, 09:27:59 AM

This chart is interesting, but why should anyone care about it? Does this mean we should follow the same path? Do you think that's what will happen next? Because I doubt it, many traders on Youtube are using the past market structure of Bitcoin to judge the future of Bitcoin movement.

While this Bitcoin movement is similar to that of 2015, I will not wait for this to occur exactly the same way; instead, I will keep buying Bitcoin every week, at whatever price I find it when weekends come around. In the past, I have failed to target the bottom price for Bitcoin, and that is why I have lost. The answer is no one knows what will happen next, so I prefer to keep buying rather than try to determine what might happen and what might not happen.

The charts are interesting but many times Bitcoin has broken the expectations based
on previous events and months. They are only a guide or something to base our speculations
on, we have to use something!

The last month I speculated on was March and I based it on the fact that it was a "bad" month
because most years March was a Red one and look what it did this year the opposite! this can be
seen on dansus021's chart

I voted for May to be Green but really its anyones guess.

palle11

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Quote from: tokeweed on May 01, 2023, 07:43:27 AM

There's a saying among old school traders that goes 'sell in May and go away' as historically May is a bad month for trading stocks and commodities.

I think that was strictly on stock trading and that was because April is the ending of first quarter and companies could open sells of shares but with commodities and cryptocurrency, the story is not the same, it is more of unregulated and open free market to exit or enter at any time.

Quote from: tokeweed on May 01, 2023, 07:43:27 AM

They take this time to be in the side lines and evaluate what their next move is gonna be for the following month of June and beyond.

The reason that old school traders then would stay back at this point is because they never understood the DCA but now staying by the side line wouldn't help a pragmatic investor and moreover the risk appetite currently is far from what was in old school traders, they had more fear and less greed. Bitcoin season now in 2023 is not same as in 2015/2017, the pump can happen at any time and the pump has been experienced already this year despite speculation of bear before halving.

KiaKia

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This chart is interesting, but why should anyone care about it? Does this mean we should follow the same path? Do you think that's what will happen next? Because I doubt it, many traders on Youtube are using the past market structure of Bitcoin to judge the future of Bitcoin movement.

While this Bitcoin movement is similar to that of 2015, I will not wait for this to occur exactly the same way; instead, I will keep buying Bitcoin every week, at whatever price I find it when weekends come around. In the past, I have failed to target the bottom price for Bitcoin, and that is why I have lost. The answer is no one knows what will happen next, so I prefer to keep buying rather than try to determine what might happen and what might not happen.

Topic: BTC Sentiment Poll for May - page 5. (Read 798 times)