Topic: Has the market completely recovered - page 6. (Read 15433 times)
If we had a big improvement, we would all know. Already, it is easy to find the cause after the increase. It is likely that pumping the price is not related to the cause. Let's hope for better "without" reason.
I am very convinced the performance of Bitcoin cause the long-awaited bullish move has begun and meanwhile BTC rate rise above $5,000 USD. According to the news, It pumped because someone made mysterious buy order around 100 million across 3 exchanges. According to analysts it could rise above $6,000 before it move back.
Though lots of people are still of the opinion that there will be a price correction, I have not seen any of these on the technical analysis that I have done and I do hope we don’t have any more correction, though looking at trend, it is when correction is done that it picks the next higher value, but I don’t want Bitcoin to do such correction on its present value, it should better wait till it gets to $9000, so that when any correction is done then, it will be to $6500. I don’t think anybody is ready for now to go back to bear market.
It depends on how you see recovery. If it's just being out of the bear trend, then i guess it is more on the recovery already. If by recovery you meant an all time high level value, then we're far from it and would need a much longer time.
But, Bitcoin would have been much more better than gold in the sense that if you hold BTC as store value, the stress required in converting it to fiat back is so little compared to the one involved in converting gold to fiat, so we need a stable ATH value for BTC to fully achieve its goal which may even be in decade to come, not these ATH that comes shortly and people force it back to bear market.
Not at all. We failed to break through resistance at $5300 and we're currently stuck in a very tight trading range near $5000 for Mex prices. Whatever movement comes next is going to be significant, and I'll consider putting in a more significant long position should we break $6000. Feels like this weekend's going to be ranging near $5000 and a more significant movement should happen on Monday or so.
$5300 resistance level has limit the current bullish trend and we should hope that before Monday that this trading area should be break. The cryptocurrency market has to go over $5875 for us to assume that the bearish market is over and lighter bull market has commence.
It could be because of the Bakkt recent reports of is it just another rally created by those whales to make a bull trap. But if people would be aware of this and don't push the market down with FOMO then it will stay stable at this price and might continue to grow in the future until the halving of Bitcoin come next year.
Not at all. We failed to break through resistance at $5300 and we're currently stuck in a very tight trading range near $5000 for Mex prices. Whatever movement comes next is going to be significant, and I'll consider putting in a more significant long position should we break $6000. Feels like this weekend's going to be ranging near $5000 and a more significant movement should happen on Monday or so. We're at the very tail end of the bear market and even in the beginnings of a bull market, but that doesn't mean we can't fall from here.
The price just made a small jump from $3,900 to $5,050 USD. This does not mean the market has recovered. In fact, i don't think there is any specific point of the value where we can say that the market has recovered. According to me, the price of bitcoin is still undervalued. We still yet to see the real price of the bitcoin.
This small sudden rise might be due to manipulation of the price. I have read somewhere it was due to a huge buy up from a single trader that caused the price to roar. If that's the case, then we might see the price getting dumped soon.
This small sudden rise might be due to manipulation of the price. I have read somewhere it was due to a huge buy up from a single trader that caused the price to roar. If that's the case, then we might see the price getting dumped soon.
It seems the price is trying to stabilize at 5k and it seems it is going to be the new support. As far as the market being recovered, I guess there is a long way to go if we base it on the ATH. What's important is, bitcoin is slowly going up again.
That's what I have noticed though, as I have heard before, the reason why the recent Bullrun was trigged because a single whale invested an amount of $100 Million worth of bitcoin.I have also heard that some of the tycoons are moving their assets into the cryptocurrency because they think there is something that will happen and will affect their investments in fiat. We will still not be able to know but sooner, the bitcoin will go high. The point is, what would
be the reason? Would it scare us or make us happy? For better or for worse?
What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?
No single investor can really explain why bitcoin has been suddenly getting price pumped for some days now, I guess we must have had big time investors that entered the market and at the same time, we cannot dispute the fact that it was caused by whale, but who the whales are is what is yet to be known, but it does not matter much to me if its whale or not, I have already taken advantage of it and I am expecting a little price fall, so I can buy back while I await the major Bull run we can easily spot when we see but I really hope whoever the investor is can keep the market green for now.
It seems the price is trying to stabilize at 5k and it seems it is going to be the new support. As far as the market being recovered, I guess there is a long way to go if we base it on the ATH. What's important is, bitcoin is slowly going up again.
it is great to see the nice rise in btc price but i don't think the bear is over yet. to me this looks like a trap. i hope I am wrong, but to me it feels like a synthetic pump. whales are not going to buy in for the long term and create an expensive pump on purpose, they would slowly accumulate at the lowest possible prices.
a mystery buyer? I doubt it, they would do it otc to avoid slippage. i wouldnt be surprised if the whales pull the carpet out and we go back to $4k. no harm no foul. until price breaks through $6k convincingly, i think it is still a bear imo.
a mystery buyer? I doubt it, they would do it otc to avoid slippage. i wouldnt be surprised if the whales pull the carpet out and we go back to $4k. no harm no foul. until price breaks through $6k convincingly, i think it is still a bear imo.
there is no fix price for every cryptos . we cant say that the market has recovered or not .
it only depends on the persons goal if what price is his target qouta .
while majority of users only wants the price to increase .
they only based on the highest possible price that cryptos get . for example on the year 2017 all cryptos reach their ath's but eventually the prices fell down . they wont see recovery if the price wont return on its previous ath
Yeah it means, we don't know where the price will fly, prices can continue to rise and penetrate $5k or above or even fall again, it only depends on the persons goal if what price is his target qouta .
while majority of users only wants the price to increase .
they only based on the highest possible price that cryptos get . for example on the year 2017 all cryptos reach their ath's but eventually the prices fell down . they wont see recovery if the price wont return on its previous ath
depending on the circumstances and needs of users in the market, hoping demand is always high.
there is no fix price for every cryptos . we cant say that the market has recovered or not .
it only depends on the persons goal if what price is his target qouta .
while majority of users only wants the price to increase .
they only based on the highest possible price that cryptos get . for example on the year 2017 all cryptos reach their ath's but eventually the prices fell down . they wont see recovery if the price wont return on its previous ath
it only depends on the persons goal if what price is his target qouta .
while majority of users only wants the price to increase .
they only based on the highest possible price that cryptos get . for example on the year 2017 all cryptos reach their ath's but eventually the prices fell down . they wont see recovery if the price wont return on its previous ath
Then I'm more confident that the "Bart Pattern" is going to happen. The whale-cumulators exploit the market when there's too much margin-shorts, or longs, by doing large margin trades of their own on the opposite side.
I believe when the market has enough margin-longs in, made collectively by the plebs, the whale-cumulators will crash the price back, completing the Bart Pattern.
I believe when the market has enough margin-longs in, made collectively by the plebs, the whale-cumulators will crash the price back, completing the Bart Pattern.
I do think the price will crash back down (not sure about this "whale-cumulator" talk though
), I just think bears will get squeezed a bit more first. After 3 months of sideways, I don't think everyone who wants/needs to buy back (like shorters) has bought back yet. The high margin shorts have been liquidated, but I doubt we've loaded up that many longs yet. If these "whale-cumulators" are real, then they'll wait for retail traders to get heavy long first. In that sense, a Bart top is possible. I just think there's too much buying pressure still so I'm looking for alternatives with more upside.
There was already more then a Bartman in action, to go back that far would have to break past 200 day average and also break the uptrend that was in play since February. I think the Bart formation is for smaller moves then this.
One of the reasons it rose was it ran out of space on a trend of rises from the lows and the not very solid ceiling of 4000 or so. Round numbers dont really count as resistance, they dont exist in other currencies
To answer OP no the market is doing part of a recovery not an entire reversal in one day
One of the reasons it rose was it ran out of space on a trend of rises from the lows and the not very solid ceiling of 4000 or so. Round numbers dont really count as resistance, they dont exist in other currencies
To answer OP no the market is doing part of a recovery not an entire reversal in one day
Of course not. The bart movement is any long green or red candle, followed by nothing, and stays like that for a few days or some weeks, then followed by a reverse green or red candle, forming bart's head.
I believe it happens when there is a big long or short order on margin.
On that note, here's an interesting article to ponder: https://www.reuters.com/article/us-crypto-currencies/bitcoin-soars-20-percent-mystery-buyer-seen-as-catalyst-idUSKCN1RE0JY
Quote
Today’s gain was probably triggered by an order worth about $100 million spread across U.S.-based exchanges Coinbase and Kraken and Luxembourg’s Bitstamp, said Oliver von Landsberg-Sadie, chief executive of cryptocurrency firm BCB Group.
“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” he said.
“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” he said.
What's so significant about Coinbase, Kraken, and Bitstamp one might ask? Why, they are the three exchanges that form the index for BitMEX's XBTUSD contract!
So I definitely think this was margin related, especially when you look at the volume/liquidations on BitMEX. Whether you're right about the Bart top, well, I'm on the fence about that. After consolidating for 3 months and breaking out, I don't think this move is quite ready to fade out yet. Time for a flag and then another leg up after that.
Then I'm more confident that the "Bart Pattern" is going to happen. The whale-cumulators exploit the market when there's too much margin-shorts, or longs, by doing large margin trades of their own on the opposite side.
I believe when the market has enough margin-longs in, made collectively by the plebs, the whale-cumulators will crash the price back, completing the Bart Pattern.
We can not be so sure yet ,it is still possible we are riding on a pump and dump fuel (although unlikely at this point), The technicals are looking really nice and the trade volume is at its highest ever. That is obviously going to drive in some FOMO. Hope this might be it
It is more likely a recovery which has taken place which was due from long time and a good thing for all the supporters and holders who had being waiting for and not selling coin till it reaches a good price and help people to make profits .
Though lots of people are still of the opinion that there will be a price correction, I have not seen any of these on the technical analysis that I have done and I do hope we don’t have any more correction, though looking at trend, it is when correction is done that it picks the next higher value, but I don’t want Bitcoin to do such correction on its present value, it should better wait till it gets to $9000, so that when any correction is done then, it will be to $6500. I don’t think anybody is ready for now to go back to bear market.
It depends on how you see recovery. If it's just being out of the bear trend, then i guess it is more on the recovery already. If by recovery you meant an all time high level value, then we're far from it and would need a much longer time.
We can not be so sure yet ,it is still possible we are riding on a pump and dump fuel (although unlikely at this point), The technicals are looking really nice and the trade volume is at its highest ever. That is obviously going to drive in some FOMO. Hope this might be it
It is more likely a recovery which has taken place which was due from long time and a good thing for all the supporters and holders who had being waiting for and not selling coin till it reaches a good price and help people to make profits .
Though lots of people are still of the opinion that there will be a price correction, I have not seen any of these on the technical analysis that I have done and I do hope we don’t have any more correction, though looking at trend, it is when correction is done that it picks the next higher value, but I don’t want Bitcoin to do such correction on its present value, it should better wait till it gets to $9000, so that when any correction is done then, it will be to $6500. I don’t think anybody is ready for now to go back to bear market.
We can not be so sure yet ,it is still possible we are riding on a pump and dump fuel (although unlikely at this point), The technicals are looking really nice and the trade volume is at its highest ever. That is obviously going to drive in some FOMO. Hope this might be it
It is more likely a recovery which has taken place which was due from long time and a good thing for all the supporters and holders who had being waiting for and not selling coin till it reaches a good price and help people to make profits .
A lots of patience and calmness to hold while the rise still ongoing to earned much bigger.
What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?
No single investor can really explain why bitcoin has been suddenly getting price pumped for some days now, I guess we must have had big time investors that entered the market and at the same time, we cannot dispute the fact that it was caused by whale, but who the whales are is what is yet to be known, but it does not matter much to me if its whale or not, I have already taken advantage of it and I am expecting a little price fall, so I can buy back while I await the major Bull run we can easily spot when we see but I really hope whoever the investor is can keep the market green for now. What is the reason for the recent bullrun? Was there any news because I didn't hear of anything or did a big whale invest?
You have to understand that there doesn't need to be any reasons for a short term price hike like this.
It's bound to have happened given the fact that we've hung around the $3-4k region and moved mostly sideways for so long. I think that the major driving force behind this particular pump is probably a combination of the fomo in traders, as well as the liquidation of short positions that some people were in that may have caused a short squeeze.
If you are a long term holder, don't bother to look for justifications. Market movement like this is normal and it happens. Instead, focus on what the long term fundamentals are like, and how they've developed, like adoption rates. These are the aspects that will fuel actual bull markets and drive sustainable growth in the long run.
Jump to: