It's still bullish to me despite of the sudden drop after it hits a new ATH and when you see a big drop that's normal because some of the bagholders are dumping thinking it would be the last day of bull market but it's not they were just weak hands that can't handle the volatility of the market.
You shouldn't have to worry that much OP, since Bitcoin has a long way to go before breaking the $100k or $300k if that would really going to happen. Bitcoin soon will break the $70k resistance and for now it's testing a new price but sooner or later we'll be there on the $70k soon.
Topic: Bullish or Bearish? - page 2. (Read 492 times)
For me, nothing happens yet to call bear season. Instead, we should call it the desired correction. Any cryptocurrency price wouldn't grow continuously ever. So Bitcoin wouldn't be different. Keep in mind, every time we see a sudden pump on Bitcoin, at the same time we have seen a pullback for a correction. It was expected for me, so I am not surprised about the current price zone of Bitcoin. And my mind isn't in bear though as long as Bitcoin does not break the $40K support zone. We will be real bears once Bitcoin breaks that zone. That's just my opinion, I am not a tech guy and don't know how to analyze. For me, my support zone is $40K.
I keep telling people who usually state honestly that they don't read the charts and are bad at predictions to look at the last 2 bull markets right after the ATH.
When the trend changes it changes with a big event that everybody can see. There's a peak, a 40% crash, a dead cat bounce, another crash with a lower low.
I don't see any signs of this happening yet. We are still in bull market.
I understand that chart reading would help people with these kinds of predictions but remember that not all charts are force of nature, even if you do a great chart that "should" show what should happen, it may fail because bitcoin is a crazy market, things do not really mean anything here. What chart could ever explain why there is a nearly 40 cent dogecoin (don't even know the latest price but seen 40 cent at highest myself)? There is zero chart that can explain that.
This is why I think charts are great on regular days, but when there is a huge type of wave going on that makes no sense at all people are making mistakes by reading charts since the movements do not act according to the charts. This is why read them, make them, but be careful while using them, it is not going to end up pretty in the end and you will be very sad that you relied on them alone.
This is why I think charts are great on regular days, but when there is a huge type of wave going on that makes no sense at all people are making mistakes by reading charts since the movements do not act according to the charts. This is why read them, make them, but be careful while using them, it is not going to end up pretty in the end and you will be very sad that you relied on them alone.
For me, nothing happens yet to call bear season. Instead, we should call it the desired correction. Any cryptocurrency price wouldn't grow continuously ever. So Bitcoin wouldn't be different. Keep in mind, every time we see a sudden pump on Bitcoin, at the same time we have seen a pullback for a correction. It was expected for me, so I am not surprised about the current price zone of Bitcoin. And my mind isn't in bear though as long as Bitcoin does not break the $40K support zone. We will be real bears once Bitcoin breaks that zone. That's just my opinion, I am not a tech guy and don't know how to analyze. For me, my support zone is $40K.
Looking at the chart OP gave us it may seem like that Bitcoin is on a bearish cycle since it is going down but being aware of the chart of Bitcoin I know for a fact that this chart has a shorter time frame meaning it might be a 1 hour chart or less and these types of charts aren't really used to determine if an asset is bullish or not but rather just determine short term movements. Looking at the daily chart right now you will see that Bitcoin isn't really going down but is still consolidating which I think is considered good for us hodlers.
^ Hah.. Yup! And yeah.. knowing what chart it is makes it pointless cos then you’d be biased. I should have started the thead in the alt speculation section.
is the chart bullish or bearish?
The chart is bullish, but only because I know it's a BTC daily chart spanning around the past few months.
Granted, it's horizontally inverted, but still.
Am I right?
EDIT: Oh, I didn't see your answer while I was preparing the charts.
is the chart bullish or bearish?
This chart is nothing because it has no time-frame and no values on it. It doesn't even have a title indicating what asset this chart belongs to, we are assuming this is bitcoin since this is bitcoin speculation board.You can't decide if the market is bullish or bearish based on this zoomed in chart!
It’s a daily chart spanning around 6 months or so.
THIS is the daily chart spanning around 6 months or so not the one you posted, and THIS is bullish, and a very healthy one at that too:
I never claimed it was a ‘BTC chart’. It’s intentionally blank to avoid biased opinions and I wanted everybody to base their answers on optics alone.
But it was Jimbo who found out where I was getting at. It’s really a BTC chart flipped... Using your chart, it would look like this:
Is that bullish or bearish? Looks like it’s starting to go sideways a bit and break out to me.
This chart is nothing because it has no time-frame and no values on it. It doesn't even have a title indicating what asset this chart belongs to, we are assuming this is bitcoin since this is bitcoin speculation board.
You can't decide if the market is bullish or bearish based on this zoomed in chart!
Regardless of this chart is not showing no measurements on both the axis and no name of the asset being shown on candlestick patterns, I guess with zoon-in chart we cannot predict accurately what is going to happen immediately and even in long run. We must need some basic inputs so that we can conclude about both short term and long term trend reversal or continuation of trend.You can't decide if the market is bullish or bearish based on this zoomed in chart!
From other people's comment, I understand that even chart is showing downfall trend, in long run bitcoin will still have bullish trend. Honestly I am not good in reading charts.
It's but natural to have a dip in the bull trend it happens in the past and will likely happen in the future, if you check the chart we don't have a continuous downward trend for a whole month, yes this week we have a 14% dip but I have a strong belief that next week the market will recover, the sentiments of the whole community are we are going to reach the $100k mark or even more this year.
i'm not sure which time frame tokeweed had taken that chart but if you look at the daily chart, it seem pretty normal. you will just think the price had dropped a lot because it's more than 10K from its ATH down to 54K but it seems going to be this way from now on since the price is also this big. It's been two weeks of red candles though but last week had really brought the price to its ATH which means it breaks out and it may test that resistance again soon.
The chart is bullish and might be for a few more months however lately with everything going on with DeFI, Doge, BSC Chain, TikTok kids turning $100 into $10 million. It really makes it seem we are near the end of the bull market, at least for non-bitcoin pairs. There is just way too many people making money these days.
Usually when you hear about bitcoin almost everyday in your daily life. Always some co-worker or some person on the street talking about it. It usually means we are near the top. Look at how high leverage the futures market is. We had a dip and over $10B was liquidated almost instantely and we still have an OI over >$20B.
Lots of money is still pouring in, tether prints in the Billions happening every few days here and there.
Usually when you hear about bitcoin almost everyday in your daily life. Always some co-worker or some person on the street talking about it. It usually means we are near the top. Look at how high leverage the futures market is. We had a dip and over $10B was liquidated almost instantely and we still have an OI over >$20B.
Lots of money is still pouring in, tether prints in the Billions happening every few days here and there.
It does seem like this is a little bit different from past cycles in the sense that these tiktok kids ignored the last ones and went in deep in this, and strange to say, hardly any of them actually got into Bitcoin! That one still sees old buyers and old money carrying most of the weight.
Dogecoin, NFT, farming and what not idiotic hype. Not angry or upset, fair play. But this is a very diverse crowd riding this current wave. They're not done yet either.
That graphic looks a lot like daily BTC inverted 
I’m not really sure where to start the thread but I guess the BTC specuation section is as good as any. Anyway... I really need your honest opinion guys.. Thanks.
We are already seeing a lower high and you can draw a trendline above it but it looks like it already broke it. I'm still curious what coins is this or what timeframe whatsoever. Anyway, shared my honest opinion to the chart you posted
. Hope you can share some other information to it too.
The chart is bullish and might be for a few more months however lately with everything going on with DeFI, Doge, BSC Chain, TikTok kids turning $100 into $10 million. It really makes it seem we are near the end of the bull market, at least for non-bitcoin pairs. There is just way too many people making money these days.
Usually when you hear about bitcoin almost everyday in your daily life. Always some co-worker or some person on the street talking about it. It usually means we are near the top. Look at how high leverage the futures market is. We had a dip and over $10B was liquidated almost instantely and we still have an OI over >$20B.
Lots of money is still pouring in, tether prints in the Billions happening every few days here and there.
Usually when you hear about bitcoin almost everyday in your daily life. Always some co-worker or some person on the street talking about it. It usually means we are near the top. Look at how high leverage the futures market is. We had a dip and over $10B was liquidated almost instantely and we still have an OI over >$20B.
Lots of money is still pouring in, tether prints in the Billions happening every few days here and there.
is the chart bullish or bearish?
This chart is nothing because it has no time-frame and no values on it. It doesn't even have a title indicating what asset this chart belongs to, we are assuming this is bitcoin since this is bitcoin speculation board.You can't decide if the market is bullish or bearish based on this zoomed in chart!
It’s a daily chart spanning around 6 months or so.
THIS is the daily chart spanning around 6 months or so not the one you posted, and THIS is bullish, and a very healthy one at that too:
^ I’m talking about the chart I posted. I feel like it’s starting to come around and start going on an uptrend after going down for a couple of months or so.
You cannot just post a chart and ask people around if it is bearish or bullish because obviously patterns changes. So if that chart? looks bearish because of the falling wedges, but if you are going to take a closer look it might change to very bullish for all we know.
So I will echo the sentiments of most posters, I will definitely remain bullish despite some dip that we have seen recently.
We are still in a bullish trend, and Bitcoin will recovery as soon as possible, some people misunderstanding about bullish, they think the price always pumping, but in the fact in a bullish trend, dumping will happen too
If you see Bitcoin dump, don't worry about it, just buy it and hold, we are still in April and December or January Bitcoin will in at peak price, if the scenario repeated
If you see Bitcoin dump, don't worry about it, just buy it and hold, we are still in April and December or January Bitcoin will in at peak price, if the scenario repeated
Not at the moment since we are keep dumping so it tells that we are in bearish trend right now maybe we can see a little recovery but still the price is sliding down. But who knows maybe in next month we can see the recovery phase of bitcoin and the bull hit again in the market.
The prediction to reach certain price still there so we assume that we cannoy see those huge dumps the same as before.
Of course, if you look at the chart then we can say that it bearish already, it's going down obviously. But the chart doesn't represent the whole though, it might be the 4 hour chart so it's not accurately depicting how bullish we are since January.
ATH every month, followed by a month dip of 20% or more due to several factors, like the bitcoin future expirations.
ATH every month, followed by a month dip of 20% or more due to several factors, like the bitcoin future expirations.
Right now I'm still incredibly bullish.
The fundamentals are still all there. People are just panicking at the moment because of a short run dump. Nothing that we haven't seen before.
Institutional players are going to provide a stabilising effect given that they are not as prone to the mood swings due to sentiment shifts. Firms like TSLA, MSTR etc. aren't just going to all of a sudden cull their holdings by a significant amount - to do that would be shooting themselves in the foot, as the news of their sell-off would likely inspire a bearish reaction that would depreciate their own holdings.
The fundamentals are still all there. People are just panicking at the moment because of a short run dump. Nothing that we haven't seen before.
Institutional players are going to provide a stabilising effect given that they are not as prone to the mood swings due to sentiment shifts. Firms like TSLA, MSTR etc. aren't just going to all of a sudden cull their holdings by a significant amount - to do that would be shooting themselves in the foot, as the news of their sell-off would likely inspire a bearish reaction that would depreciate their own holdings.
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