I really dont like the moon slogan or anything resembling that. I want to hear fundamentals improving, efficency, population and utility of BTC increasing before I want the price to rise. If it goes up alot and its all just empty hype then its going to damage the beast on a nasty fall. I like BTC just for its idea and impossible made real, genuinely how it can help people in a unique way.
Put it this way if price rises too much too fast, its actually representing volatility. A large change in price shows inaccuracy in the market to previously reflect the correct value, its very ironic but can easily end up a negative. Combine that with actual selling and holders who have no interest in use of BTC and I dont like how that turns out, it wont be a downward trend or anything as neat as that
Topic: Downward Trend (Read 1178 times)
Everybody wants to fight that downtrend. Everybody wants to read about the news that says Bitcoin is Going to The Moon tomorrow! Not many want to read the news that says Sorry Bitcoin Price is going down after the parabolic. It is human nature to see the market as we want to see it, not how it really is.
sure it'll go down after the parabolic move but where is the top of the parabola? it doesn't look like $13.8k was it. even the short term downtrend has now been broken with yesterday's higher highs. i think bears fighting the uptrend have more to worry about than anyone else.
Everybody wants to fight that downtrend. Everybody wants to read about the news that says Bitcoin is Going to The Moon tomorrow! Not many want to read the news that says Sorry Bitcoin Price is going down after the parabolic. It is human nature to see the market as we want to see it, not how it really is.
You are right but that is just the way things are, most investors have an entry strategy but they do not know when to get out of the market so they are expecting for the price of bitcoin or any other asset to always go up, which we know is not realistic, I personally prefer that the price does not grow as much anymore and while this could be a strange posture for some my reasoning is that the higher we go the faster it will go down, if bitcoin were to stop its growth now and it went down I am sure we could see a stable price of 7k or 8k which is not bad, but if its goes parabolic we could see prices of 5k or even lower when the price finally crashes. Everybody wants to fight that downtrend. Everybody wants to read about the news that says Bitcoin is Going to The Moon tomorrow! Not many want to read the news that says Sorry Bitcoin Price is going down after the parabolic. It is human nature to see the market as we want to see it, not how it really is.
actually the problem is when people start confusing corrections with "downward trends" and a simple rise with "going to the moon". when they exaggerate every movement without thinking about it, that is when things start to fall apart for them.
as you can clearly see now what we had was a simple correction after the rally that we had. some got over excited and thought "bitcoin price is going down" and lost money because of it.
You are correct mate, but that's what some people do, they overreact on a certain situation.
I am bullish by nature as I'm more on long term trade and in case I see the price going downtrend I would think it's just a correction but if it's rising, I would think it's going to the moon, some people like me are just bias in their opinion.
Everybody wants to fight that downtrend. Everybody wants to read about the news that says Bitcoin is Going to The Moon tomorrow! Not many want to read the news that says Sorry Bitcoin Price is going down after the parabolic. It is human nature to see the market as we want to see it, not how it really is.
actually the problem is when people start confusing corrections with "downward trends" and a simple rise with "going to the moon". when they exaggerate every movement without thinking about it, that is when things start to fall apart for them.
as you can clearly see now what we had was a simple correction after the rally that we had. some got over excited and thought "bitcoin price is going down" and lost money because of it.
The last dip was a fakeout. It's looking more bullish than a few days ago. To me, it looks like a bullish triangle has formed over the past 5 days. Still need to wait for breakout confirmation though.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
We got our breakout:
Short term, it looks like this triangle thrust still has some legs and will go higher. However, I'm hesitant to say yet if we're going straight back to the parabolic uptrend. We might still be stuck in a larger sideways for a while. I'm not sure. It looks like that dip to $9,650 was the bottom now though.
There are dead cat bounces on opposite directions as well, not many people realize this but when a coin goes really high (not just bitcoin) then there are sellers who have been holding it for some time that want to get rid of it. We haven't been above 13k in a looooong time so when we reached there people just wanted to sell and get out of the market or maybe buy cheaper or just wait on what they want to do.
However, the reasons why we went up didn't change, they sold and price went down but then just like how we reached 13k+ before it went up once again because the path of bull is still clear with no valid obstacles in path. Just focus on the sellers and you will see that the less sellers we have the higher price will go. It is just time for bitcoin to go above 20k once again and break that record ffs.
However, the reasons why we went up didn't change, they sold and price went down but then just like how we reached 13k+ before it went up once again because the path of bull is still clear with no valid obstacles in path. Just focus on the sellers and you will see that the less sellers we have the higher price will go. It is just time for bitcoin to go above 20k once again and break that record ffs.
Everybody wants to fight that downtrend. Everybody wants to read about the news that says Bitcoin is Going to The Moon tomorrow! Not many want to read the news that says Sorry Bitcoin Price is going down after the parabolic. It is human nature to see the market as we want to see it, not how it really is.
The last dip was a fakeout. It's looking more bullish than a few days ago. To me, it looks like a bullish triangle has formed over the past 5 days. Still need to wait for breakout confirmation though.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
After the increase that we are undergoing and we are facing, a new downturn is going to happen again.
Every new year's high will be the level that people will start selling. In my opinion, there are a lot of investors that will start selling when the price will hit around 15k. So there are still many triangles to be formed.
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The last dip was a fakeout. It's looking more bullish than a few days ago. To me, it looks like a bullish triangle has formed over the past 5 days. Still need to wait for breakout confirmation though.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
I think $11k is a starting point to increase again. If the price can break the higher price in this week, then I think the price will slightly increase to the next point price, and it will go to the next target price which is at $12k. We still have much time to see the price increases and the point is we need to prepare our bitcoin in the market so we can sell at a higher price at any time.
There still is no bearish trend, we have not even left the upward trend. Still sideways and here is my view for the moment of us challenging the upper band of the channel in place for months now. It must fail many times it seems to really encourage any selling pressure and then we can talk about downward trend. I keep looking but its not there yet
it does depend on the time frame , if you take a month's period we are still in an upward trend
also today only bitcoin gained around 750$ and is testing 12.000$
but if you take this fortnight , we are down from 13.500 $ to almost 9980 at some point
and only huge buying volumes on a Friday , if I'm not mistaken , allowed the price to return back into the 10-11k area
with so much volatility a 10% up and down is not even a correction - its a fluctuation
The last dip was a fakeout. It's looking more bullish than a few days ago. To me, it looks like a bullish triangle has formed over the past 5 days. Still need to wait for breakout confirmation though.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
Looking for a clean break of the $11,700 or $11K areas to determine direction.
Is current crypto downward trend only temporary?
Every crypto price downward trend is temporary.And every crypto price upward trend is temporary as well.This is the nature of markets.By the way,I wouldn't call it a "trend" because it's not long term enough.
Maybe we should call it a price spike,not a trend.
Or more like a pump and dump, but we believe BTC has a future, and therefore as a holder we should not allow that pump and dump affected us.
We look on the overall movement of the price, forget about the pump and dump or whatever you call it, we cannot deny BTC from $3200 now valued at $11400, then compare and see how big it has rise already.
[The real bull run has not started yet. Bitcoin is stable between 10,000$ to 12000$ and we are again in the accumulation phase. Once we would have enough accumulation of bitcoin then we might see another pump of bitcoin which will take bitcoin above 15K.
I think bull run already is happening. Look at how the price surge from starting this 2019 up to the present. Bitcoin had been on $3k + then it is on $11k plus now so what do you call this trend? I can't call this a bear market nor it is going sideways. If we look at the chart it recorded several higher highs and lower high << a sign of Bitcoin bull market.
sometimes people expect bitcoin price to have gone up every morning that they check the price. so when they check it today and see it is $11200 and tomorrow it is still $11200 they think it must no longer be a bull run!!!
but in reality you are correct. we are in a bull run this year. so far we have witnessed a >260% rise this year which is phenomenal even if we don't see any more rises this year!
as for sideways which you mentioned, we are in a sideways market but only right now (in short term). which is natural after such a big rise and before the continuation of the rise.
Is current crypto downward trend only temporary?
Every crypto price downward trend is temporary.And every crypto price upward trend is temporary as well.This is the nature of markets.By the way,I wouldn't call it a "trend" because it's not long term enough.
Maybe we should call it a price spike,not a trend.
There still is no bearish trend, we have not even left the upward trend. Still sideways and here is my view for the moment of us challenging the upper band of the channel in place for months now. It must fail many times it seems to really encourage any selling pressure and then we can talk about downward trend. I keep looking but its not there yet
Is current crypto downward trend only temporary?
I think it's just a correction, it's normal, but the trend is not bearish, the trend is totally bullish and, from Wyckoff's point of view, we are in a phase that is the beginning of the uptrend.Some technical analysts claim that it is a Chartist figure, the one that can divide it, most have agreed with the indicators they use, from the point of view of the volume and their analysis may be increasing, since bitcoin is increasing without volume, this causes the supply to disappear and to open places at new demand prices.
[The real bull run has not started yet. Bitcoin is stable between 10,000$ to 12000$ and we are again in the accumulation phase. Once we would have enough accumulation of bitcoin then we might see another pump of bitcoin which will take bitcoin above 15K.
I think bull run already is happening. Look at how the price surge from starting this 2019 up to the present. Bitcoin had been on $3k + then it is on $11k plus now so what do you call this trend? I can't call this a bear market nor it is going sideways. If we look at the chart it recorded several higher highs and lower high << a sign of Bitcoin bull market.
For bitcoin yes its only temporary, looking back how the btc progress this year we can say even the price plunge to $8k-$9k its still good enough since we started at $3k in the first quarter thus dont think this downtrend as negative.
For altcoins unfortunately some of these coins will remain in their current status so it might not temporary, if they cant manage to increase then it will stay at the bottom unless there's a big news that can affect their price.
For altcoins unfortunately some of these coins will remain in their current status so it might not temporary, if they cant manage to increase then it will stay at the bottom unless there's a big news that can affect their price.
I guess both uptrend and downtrend is temporary because as we can see, they are performing a cycle. Price fluctuation is kinda crazy in Bitcoin market. Depends on the market sentiment we can see several changes from uptrend to downtrend, sideways then vice versa. And I think this is just normal.
For bitcoin yes its only temporary, looking back how the btc progress this year we can say even the price plunge to $8k-$9k its still good enough since we started at $3k in the first quarter thus dont think this downtrend as negative.
For altcoins unfortunately some of these coins will remain in their current status so it might not temporary, if they cant manage to increase then it will stay at the bottom unless there's a big news that can affect their price.
For altcoins unfortunately some of these coins will remain in their current status so it might not temporary, if they cant manage to increase then it will stay at the bottom unless there's a big news that can affect their price.
It is at $11,500 right now but I speculate it will move down to $9,500 in the next few days.
It hasn't move below yet, but I'm afraid it will move down as it struggle to rise over $11500 again, but I hope you and I are wrong, I like bitcoin to finally stabilize at $12,000 this month.
I seen the price stabilize at that range of $11K but not moving some bigger increases. The situations needs enough time to develop a better price increase in order to achieve another rising trend.
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