Topic: Drop from $60k to $30k was part of bull run cycle? - page 2. (Read 505 times)
From a technical analysis of charts it's correct to say that these markets are at a stage of accumulating momentum to go onto the upside, and with how charts are presented in the OP, the fibonacchi levels have played out well reaching the 88 and 76 levels to continue the uptrend. That $30k level has also been a strong support area which keeps pushing price up and should we break $43k, $45k then I have no doubt that we could be looking at a new higher high than previously recorded.
Everyone says different things about this. Some people were claiming that we were still in the bear market when the price was around $30k. And some people (like me) claimed that it was the bear market we were in. And now it looks like we're out of it. But maybe I'm wrong and the price will come down to $30k again soon.
the price of bitcoin is still in a warming state, of course it takes enough stamina to heat it up. everyone hopes that bitcoin on a bullrun status but in reality it remains in a bearish condition.
need to know, bitcoin is still in the stage of price correction it may take a lot of time. So as an investor, you have to be patient waiting for the second stage to take place.
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The recent rise of Bitcoin during the last month was a little bit of a hype because of what happened on that period.
Well, in every rise there is always a fall that is why we've experienced a near 50% decline.
Was it expected?? Yes because we know already that there will be at some point a price where holders will take profit therefore the sellers will prevail and will sell their Bitcoin causing the price to go down. Now is that scenario part of the bull run cycle. That I don't know but we saw what happened in 2017-2018 where Bitcoin went down very hard. Right now the 21 Weekly MA is rejected. There is a time that it went above it but it ended the week at almost the same spot where the 21 weekly MA is. Right now we are below that price and if the 21 Weekly MA is rejected, chances of us going to the bear market is higher although the main basis if we will enter the bear market or not is the 2 current supports right now which is the $30,000 and the $28,000. Rejecting the 21 Weekly MA and not staying above it for a week or 2 is another sign of a bear market too or I should say that increases the chances.
Well, in every rise there is always a fall that is why we've experienced a near 50% decline.
Was it expected?? Yes because we know already that there will be at some point a price where holders will take profit therefore the sellers will prevail and will sell their Bitcoin causing the price to go down. Now is that scenario part of the bull run cycle. That I don't know but we saw what happened in 2017-2018 where Bitcoin went down very hard. Right now the 21 Weekly MA is rejected. There is a time that it went above it but it ended the week at almost the same spot where the 21 weekly MA is. Right now we are below that price and if the 21 Weekly MA is rejected, chances of us going to the bear market is higher although the main basis if we will enter the bear market or not is the 2 current supports right now which is the $30,000 and the $28,000. Rejecting the 21 Weekly MA and not staying above it for a week or 2 is another sign of a bear market too or I should say that increases the chances.
This time, bitcoin is not moving anywhere but stays at the current price.
It looks like this moment is hard to predict as the price is not up or down significantly so many things can happen this week.
Hopefully, the price will not go deeper because it can trigger people to panic and sell their bitcoin.
But if the price still goes down, we can only use that moment to buy more because that will be a good time to accumulate more bitcoin.
But I believe that the bitcoin price will get a new ATH soon and hopefully, that can happen before the end of this year.
It looks like this moment is hard to predict as the price is not up or down significantly so many things can happen this week.
Hopefully, the price will not go deeper because it can trigger people to panic and sell their bitcoin.
But if the price still goes down, we can only use that moment to buy more because that will be a good time to accumulate more bitcoin.
But I believe that the bitcoin price will get a new ATH soon and hopefully, that can happen before the end of this year.
Yes. Even if it drops even further, I believe we will never go below $ 30,000 again. That position proved to be a very strong support and it is an excellent sign for the bull run to continue.
There is no guarantee that the price will not go down as many possibilities can happen in the crypto market but we can prepare for the worst thing that can happen later.
And only by doing that, we can still survive in any situation, even if the price really drops to below $30,000.
But I see the supports still come to the market and if that can get more support, the price will slowly increase and we might see the price can back to up to $40,000 soon.
This time, bitcoin is not moving anywhere but stays at the current price.
It looks like this moment is hard to predict as the price is not up or down significantly so many things can happen this week.
Hopefully, the price will not go deeper because it can trigger people to panic and sell their bitcoin.
But if the price still goes down, we can only use that moment to buy more because that will be a good time to accumulate more bitcoin.
But I believe that the bitcoin price will get a new ATH soon and hopefully, that can happen before the end of this year.
It looks like this moment is hard to predict as the price is not up or down significantly so many things can happen this week.
Hopefully, the price will not go deeper because it can trigger people to panic and sell their bitcoin.
But if the price still goes down, we can only use that moment to buy more because that will be a good time to accumulate more bitcoin.
But I believe that the bitcoin price will get a new ATH soon and hopefully, that can happen before the end of this year.
Yes. Even if it drops even further, I believe we will never go below $ 30,000 again. That position proved to be a very strong support and it is an excellent sign for the bull run to continue.
Currently, if we will base on the chart, we are in the Mania Phase, which is expecting to happen to start this month until the month of September.
What are your thoughts?
What are your thoughts?
The current Bitcoin bull run could be entering a period of much lower growth, where the supply of Bitcoin is constrained. When the Bitcoin price is falling, it's sometimes seen as a good time to buy. But this could also be an opportunity to sell, as the price is heading for a cliff. In any case, Bitcoin prices are still a lot higher than they were when the latest bull run began.
It looks like this moment is hard to predict as the price is not up or down significantly so many things can happen this week.
Hopefully, the price will not go deeper because it can trigger people to panic and sell their bitcoin.
But if the price still goes down, we can only use that moment to buy more because that will be a good time to accumulate more bitcoin.
But I believe that the bitcoin price will get a new ATH soon and hopefully, that can happen before the end of this year.
Everyone says different things about this. Some people were claiming that we were still in the bear market when the price was around $30k. And some people (like me) claimed that it was the bear market we were in. And now it looks like we're out of it. But maybe I'm wrong and the price will come down to $30k again soon.
We all have standards on analyzing the market, and it’s good that you have your own analysis. We are seeing the market differently but its good that we actually surpass the level of $30k again, and its good that we bounce back from that price because if not, we might seeing a worst bear market now. That correction is part of the trend and that’s the normal scenario after the up trend, the down trend is all we need to buy cheaper coins/tokens again.Compare to the last 2018 bear we can say that its really better that we came to this point that bitcoin ewsily recovers from heavy dump and that $30k is totally good to see since this give people a huge moral boost that bitcoin is so strong. And for reaching $40k last couple of days it gives us possibilities that $60k or higher is reachable again so I think once bitcoin climb back at $50k for sure we will see the hype surge.
Everyone says different things about this. Some people were claiming that we were still in the bear market when the price was around $30k. And some people (like me) claimed that it was the bear market we were in. And now it looks like we're out of it. But maybe I'm wrong and the price will come down to $30k again soon.
We all have standards on analyzing the market, and it’s good that you have your own analysis. We are seeing the market differently but its good that we actually surpass the level of $30k again, and its good that we bounce back from that price because if not, we might seeing a worst bear market now. That correction is part of the trend and that’s the normal scenario after the up trend, the down trend is all we need to buy cheaper coins/tokens again. Currently, if we will base on the chart, we are in the Mania Phase, which is expecting to happen to start this month until the month of September.
What are your thoughts?
What are your thoughts?
The current Bitcoin bull run could be entering a period of much lower growth, where the supply of Bitcoin is constrained. When the Bitcoin price is falling, it's sometimes seen as a good time to buy. But this could also be an opportunity to sell, as the price is heading for a cliff. In any case, Bitcoin prices are still a lot higher than they were when the latest bull run began.
This chart looks really accurate, as the Twitter user said, it is a bitcoin cycle indicator. It shows the different phases of the cycle for Bitcoin since the beginning.
Another thing that I am surprised about here and amaze because of using a Fibonacci retracement and extension which will help to identify a pullback of a certain asset or best idea for price level for taking profits.
Currently, if we will base on the chart, we are in the Mania Phase, which is expecting to happen to start this month until the month of September.
What are your thoughts?
https://twitter.com/misconfig_exe/status/1408544229173858305/photo/1
readying up itself on a good run but we know that it isnt a sure thing because pullbacks could neither mean taking profit time or typical sells or manipulative act etc.
We should be mindful on taking profits while we can because we wont know on how long the market would be staying up into these lines.
Everyone says different things about this. Some people were claiming that we were still in the bear market when the price was around $30k. And some people (like me) claimed that it was the bear market we were in. And now it looks like we're out of it. But maybe I'm wrong and the price will come down to $30k again soon.
~snip~
This chart looks really accurate, as the Twitter user said, it is a bitcoin cycle indicator. It shows the different phases of the cycle for Bitcoin since the beginning.
Another thing that I am surprised about here and amaze because of using a Fibonacci retracement and extension which will help to identify a pullback of a certain asset or best idea for price level for taking profits.
Currently, if we will base on the chart, we are in the Mania Phase, which is expecting to happen to start this month until the month of September.
What are your thoughts?
https://twitter.com/misconfig_exe/status/1408544229173858305/photo/1
That looks promising to see right now, I've seen little down trend after $40k was achieved but as the fluctuations progressively undertaking right this moment let's see more great changes happens. Bull run cycle has different behavior, what we're having as of these days was just successive developments, $30k or below was only part of its growing value. Cherish every footsteps, and don't let your fear break it all down and our journey towards $60k will again blossom.
The pullback is always part of a healthy correction and that dump is part of the market cycle, its too early to say that the price will rise but eventually when more good news are coming in the market, the price will start to pump again. The prediction might be correct that we are on a Mania stage, we can confirm it in the coming days.
Maybe it was, maybe not. I don't really know. But in my opinion, it was not related to a bull run cycle. It was one of the usual dumps after a huge rise. It's always happened before. This is a part of this market, the volatility. And I don't think that this will ever change. I mean that these coins (except stable ones) will never change their main characteristics. We were in the bear market and now it started seeming like we've entered the bull market again.
This chart looks really accurate, as the Twitter user said, it is a bitcoin cycle indicator. It shows the different phases of the cycle for Bitcoin since the beginning.
I don't think looking at the past can help a lot with prediction Bitcoin's future, there's very little data to look for patterns, and you should also keep in mind that conditions greatly changed - Bitcoin went from being traded by amateurs with a few millions of daily volume to being traded by pros and having many billions in volume. Also things like derivatives were non-existent in early days, but now they are clearly influencing short-term price, as you can see how the pumps/dumps are aligned with things like options expiration dates.
Looks like, crossover of 20 & 50 weekly MA won't start bear market as par the OP's chart. But that crossover was the starting of bear market in the past two bull season. Lets see what'll happen in the upcoming months, bullish or bearish. TBH, i'm still hoping to see bitcoin more than $100k and won't wonder if history doesn't repeat this time. 
I have been reading similar view from a crypto analyst I follow, he believes we are still in bull run that btc will record another ath, so am hoping he is right, now seeing this post seem like many people are of the same opinion, let's hope this eventually plays out as many people are predicting, I keep buying little amount of btc to increase my stack.
2013 similarity with 2021 will be as result of human psychology's over a high number of new investors and institutional investors in this market. The psychology impacted on greed index. On-chain analysis reveal the size of adoption from newbies and their response to trade; massive increase in number of addresses and transaction, this influence most of their decision into capitulation where the chart shows massive selloff.
Was just saying in another thread this really doesn't feel like it's done -- but we should be approaching that pointy top. Because a threefold price increase in 4 months -- relative to everything else Bitcoin's done in previous years -- really doesn't seem like the sort of massive peak supernova that's been descriptive of every bubble cycle thus far.
Won't be bitterly disappointed if we're all wrong, so I'm good to wait and see.
If we're right, though, it's got to be the next few months, though, huh?
Before the end of the year a new ATH will be established watch this space Won't be bitterly disappointed if we're all wrong, so I'm good to wait and see.
If we're right, though, it's got to be the next few months, though, huh?
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