Topic: I am Bullish On Bitcoin Despite Bear market - page 4. (Read 987 times)

I dunno, I don't think I need to trust the lines in the image, but I can understand what your analysis is for.
Even if bitcoin actually has a two direction, most of us only seem concerned with being bullish in the long term. The journey will not be smooth, that is due to fluctuation based on various condition including global economic condition, but in the long term we believe more bullish than bearish.

Of course they need to think about it, the 75% off ATH should be taken advantage of even if they need to consider DCA.

I'm still in a bullish position now, even though the price tends to experience a sideways mode and is still stable at the current price range. Maybe there will be a surprise after the new year and let's hope it's the price increase we've been waiting for. But we also have to be prepared if the price drops again and don't panic because that is a good moment to buy bitcoin and increase the amount of bitcoin we have. Moreover, next year is just around the corner and after that, we enter the first week of next year so anything can happen. Have your money ready if you feel it is the right time to buy bitcoins.

After all, every bear market's bottom price is always better than the last bear market. That's always a good reason to buy and hold.

The price may drop down to 14K just as others have been saying actually. They may relate the price crash again to the economy and stock market collapse. Although its sad to see BTC still didn't decouple from traditional finance, I'm still up to seeing the long-term RSI indicator to be a good buy even on $16500.

It is difficult to confirm that bitcoin will not fall anymore, the possibility that bitcoin will continue to fall is there because, with the negative information spreading in the market, it is likely that we will soon receive a new drop in bitcoin. However, you are right. Don't wait and now is the best time to buy as we may not have reached the bottom yet, but we are very close to doing so, so we buy now will not lead to any loss what big.

Today is the last day of the year, and there are no surprises as you would expect, and I also suspect that we will unlikely see a price increase in the first days of the new year.

It is true that when a market is subject to heavy manipulation then technical analysis can lose some of its effectiveness or even become completely useless, and while it is undeniable that whales have a lot of influence in this market, to disregard technical analysis completely seems like a mistake to me.

Technical analysis as imperfect as it can be is still the best tool we have available to us, since we do not have access to the same wealth and connections those whales enjoy and which they use to manipulate the market.

The bear season surpassed the bull market this year and some made good profits while some made heavy loss. Every trader have their entry spot on Bitcoin price level, it's just a matter of time before bitcoin make a massive pump. Bitcoin dips throughout the remaining days and next year would be green long candles everywhere compared to this current season where there was long presence of lengthy bearish candles and shadows. Exercising patience, mapping out good entries on bitcoin will capitulate the profits earned.

some Bitcoin movements are already looking good. but often there are still fast movements that occur, those who trade Bitcoin, of course, will pay close attention to the market situation.
those who hold Bitcoin I don't think will be affected. this is a good moment to hold on, there is a pretty good potential for more flattering trends in the market. but I guess it's not for the short term. but the current market situation will probably be better. not as bad as it is already.

I really don't believe in technical analysis, I think this market still has a certain manipulation, and relying on technical analysis is not enough. Since we can analyze the market, so big players and sharks can also analyze, it is extremely risky to rely on technical analysis to evaluate bitcoin. My best way is DCA everytime the price drop more and holds long until bitcoin bounces back and hits the target, I will sell bitcoin. The future of bitcoin is still very bright, and no recession or crisis can last forever, at some point, the market will have to bounce back.

I practically do not use technical analysis for the purpose of predicting the change in the price of Bitcoin and other cryptocurrencies. 

Instead, for these purposes, I use the methods of fundamental analysis.  I also have confidence that the price of Bitcoin is near the local minimum area (this bearish cycle). 

I don't presume to predict the moment when the price of Bitcoin will reach $20,000, but I hope that it will be soon.  Now the price of Bitcoin is in the accumulation zone. 

At the moment, smart and prudent investors are massively buying up the first cryptocurrency.

I think, this is the best time to buy and hold Bitcoin because the price will not decrease to $14,000 before it will start pumping in a way investors and traders will prepare to receive something good from their long investment. If you can embrace this season to buy Bitcoin and hold, it will really help you to achieve passive income in your investment because it will be difficult for the price to decrease more than the current price. The price will definitely improve higher before the end of this month, because the price is still moving between $16,000 and $17,000 which is a sign that investors will soon experience bullish market.

I am not seeing any charts at the moment because I am long term btc holder and safely having my coins in the wallet for that period without even selling them.The charts you are showing are mostly for the trading purpose and at this time I am not into it but only putting small amounts in btc whenever I have some extra income and it goes into that for same long term period.So for me I am always bullish on it and at these times also.

I have no knowledge of technical indicators but the best time to be bullish on Bitcoin is bear market, when whole world is bullish that's usually time to sell.

The Bitcoin market will recover, that's for sure.  But there is no consensus on whether Bitcoin will go from 13K to 14K.  If you want to invest, it is better to invest from the instant market right now.  In 2023, it is not possible to say exactly which position the market will move to.  At present the market is very much at the dumping stage if it starts pumping from here then your investment will not be successful.  So, if you want to invest, invest from this market and wait for a long time if necessary.

Technical analysis is important if you are a trader, so you really need to analyze the technical part of it, like looking at charts and identifying different patterns, volumes, momentum, etc.
For the long-term side, for me yes, seems normal. Everyone wants Bitcoin to have a good price in the future. We are talking short-term here, like the current market condition we have right now.

For me, this sideways price action of Bitcoin will stay even on next year, this is much better, as long as we don't do huge dump or pump in just a short period of time.

" Buy Low and Sell High" is what we should put into our minds. Investing seems too easy to think but many of us are not consistent with the simple strategy that I've mentioned, many have gone far and emotionally stressed when the market price never increases after buying. In fact, as we observe the movement of the whales, they take advantage of the situation while the community is in panic and full of fear. Whales catch all of their coins as they sell them at low prices.

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It was to say they not all are capable to handle stress and can manage their emotions. Many had often changed their minds after seeing the chart and then decide without thinking twice.

I once listened to a lecture where the speaker said “the best time to invest is when everyone else is too scared to do it and the best time to sell is when everyone is hyped to buy”. In my opinion the bear market is always a good time to buy bitcoins if you are hodling long term. The perfect time to enter the market is futile because the perfect market conditions may never come. Ultimately you get a good feeling knowing you bought low when the bull seasons kicks off

Bitcoin is the most potential currency among cryptocurrencies, so i believe that Bitcoin can't be use to compare to any other coin, so no any other coins that have the ability to survive the bearish market and the challenges Bitcoin has faced before, many other coins has come and die off because of the bearish long existence, but Bitcoin do fall and rise. And it's obvious that without Bitcoin accelerating no any other coins can rise again, other coins is following Bitcoin step of increment to rise.

The market struggled for 3 years but there were times of profit and losses within the 3 years, bitcoin price decreased below $3200 in 2018 but before 2020, bitcoin price increased to over $13000 before it plummeted back below $4000. If you are expecting such bull and bear market similar to that of the past to still repeats itself, we should expect bull (bitcoin getting to maybe $30000, $40000 or $45000) and bear (getting back to $20000) before the next bull run that will lead to all-time-high, and probably this will happen in 2023 before 2024 halving. All are guess.

Perhaps, you don't need to worry OP as this will situation will come and just go also.
As we recall in the past bear season, the market is struggling for 3 years before Bullrun comes and it is likely we are going to expect this cycle again. That is why we never have to think that after we invest in crypto today we will gain profit quickly. Yet, it doesn't mean that we are too hopeless either. We can still be bullish and remains optimistic in the future as we believe that Bitcoin rallies back again just like what we experience last year.

I don't know why so many people are into this 13-14 thousand level.
There's almost as many of you as those who a few months ago were saying that the bottom will be at 20000 and maybe we'll briefly go below to 19 but that's it.

The problem with such levels are always the same that if there's a lot of people waiting for a level to be touched it usually never is and when the majority thinks it won't then it is.

Most people thought that 3000 was not the bottom in 2019 and that we will go between 1 and 2 before recovering. We never did.
When we went to 14000 in 2019 people were sure the new bull market has begun but the rally ended and we went back to 5 which was a huge crash, bigger than what Luna and FTX caused this year.
Nobody expected the covid crash to take us to 3k in 2020 but it happened...

You have to realize that the market doesn't follow lines in the sand. It goes its own way.
For the crash to 14 to happen a lot of current holders have to sell. Something has to make them sell. If you bought for 15-17 thousand knowing this could be a good time to invest because the chance of recovering back above 20 is enormous, would you sell in panic now to maybe be able to buy back at 14 if you catch the low point? Most people wouldn't.

Bull markets don't start because a number was hit but when all the panic sellers are out and the confidence shifts.