I am Bullish On Bitcoin Despite Bear market - page 6.

teosanru

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Quote from: fennic on December 22, 2022, 12:38:53 PM

Hi guys I am no expert but according to me GUYS, I'm very Bullish for BTC coz, BTC is forming a Falling wedge and its a huge huge Wedge, when it'll break, BTC will pump hard but,
before that understand this Falling Wedge Bottom is nearly 14k$ & in worst case we can see wick to 10 - 12k,
but 14 - 13k is best best best time to BUY buy buy Alts and BTC ⏳ (keep going on your DCA)
& Next Elliot 5th wave will be huge 🔥⏳
I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.
Here is chart that I am giving technical knowledge.

Nice analysis to be honest, only thing is that as far as I know the Elliott Wave Theory. The 5th wave no matter how bullish you expect this to be it'll definitely not cross the 3rd wave height so according to the chart the max that we can see even in the 5th wave is 17-18k region because that's the max height of the 3rd wave so it'll definitely not go beyond that. So Atleast in this wave Pattern bitcoin isn't going anywhere above the 18k mark and after this you'll see ABC correction so, i am still bullish but will have to wait a lot to see results.

Yamifoud

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Quote from: michellee on December 24, 2022, 07:15:11 AM

What if the scenario is the bitcoin price doesn't reach the $14k level but stays at the current price? Are you not going to buy bitcoins and keep waiting for the price to reach $14? We have to think realistically about the current situation and conditions and you can buy bitcoin at the current price and prepare other money to buy at another low price. It would be much more profitable if the bitcoin price didn't reach $14k and did a price reversal right away so you could make a profit. But if that is your strategy, you can still wait a while and see what will happen to bitcoin. I'm still optimistic that bitcoin can penetrate the price of $ 20k and even increase quickly.

I don't expect that too...Bitcoin still has strong market support, it dumps actually but never we think it will reach below $15k.
It was a big mistake for the OP for losing the opportunity at the current price. In fact, OP has a positive view of Bitcoin and is bullish, if he has the plan to invest then he better make it no rather than waste his time waiting for $14k which is likely impossible.

Might next year don't really have a good start but I think the market will tend to recover. We only just hope that no more scam happen to huge exchanges, otherwise this will prolong the bear season.

michellee

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What if the scenario is the bitcoin price doesn't reach the $14k level but stays at the current price? Are you not going to buy bitcoins and keep waiting for the price to reach $14? We have to think realistically about the current situation and conditions and you can buy bitcoin at the current price and prepare other money to buy at another low price. It would be much more profitable if the bitcoin price didn't reach $14k and did a price reversal right away so you could make a profit. But if that is your strategy, you can still wait a while and see what will happen to bitcoin. I'm still optimistic that bitcoin can penetrate the price of $ 20k and even increase quickly.

gunhell16

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So you mean this week bitcoin's value may fall further between 14k$-13k$ and this is a good opportunity to buy it again and hold? How sure are you technical analysis dude that this is going to happen?

Because according to the chart that I see, what you say can and cannot happen, dude. Because the market is unpredictable, its value can go up and down at any moment. Are you suggesting that bitcoin holders sell now and wait for it to fall to around 14k$-13k$ right?

buwaytress

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All these funny stripes and triangles are absolutely irrelevant until there are fundamental signs of an improvement in the market situation. Now is the time that only fundamental analysis can be used as a sane analytics. I remember being fed these stripes and triangles in mid-2022, saying the market was about to explode. But the miracle did not happen, because there are absolutely no fundamental prerequisites for injecting money into bitcoin and did not exist at that time. Liquidity does not appear simply because some kind of technical analysis showed a reversal. Until the situation with binance, FTX, large exchanges is resolved, until the miners finally capitulate, there can be no talk of any bullrun.

Yeah, can't remember just how many golden crosses and heads and shoulders and dead cat bounce calls etc were made and invalidated every step of the way in 2018-19... It was really until 2020 Black Monday crash and the recovery globally that Bitcoin price made serious rally moves.

Fundamentals in Bitcoin do keep getting stronger but while market fundamentals are ailing, with symptoms yet to clear, not really useful to look at these indicators, particularly at poor volumes.

DoublerHunter

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Quote from: goaldigger on December 23, 2022, 05:08:42 PM

Quote from: KingsDen on December 23, 2022, 11:39:31 AM

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

If you are sure bitcoin will get to 14k and pump from there, what then stops you from doing dollar cost averaging from 16k? There is actually no much difference. How about if the market reverses from 16k?
You can think about it.

Being bullish is continuously buying and yes cost averaging might be an ideal way to increase your chance of getting a higher profit once we go to a bull trend again. If its for long term, I’m also bullish with Bitcoin though panic might still be here in short term as many negative news affecting the whole crypto market. We might see the reversal of the trend early next year, let’s hope for that.

^For those who have been understanding the crypto market trend probably are bullish despite the market condition, because we know already that BTC price will pump when the price goes up but those new on this ear will probably easily get panic because they wanted to make a profit in a short term only. BTC investment expected it is good for long-term purposes and you will see there is a big return when we will hit the new ATH of BTC price which we know will happen. So now, good to know there are still people who believed that the BTC prices will increase soon.

blockman

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Most of us here are bullish, no matter what the indicators and charts say if you're a holder then you'll definitely hold and that's it. A more important factor is the past that has happened for bitcoin. We're all amazed at how historically it keeps on increasing if you zoom it out and look at the entirety of its history. This bear market is just another go through for bitcoin and we all know that it will end and then soon, we'll get to enter to the bull run again.

Woodie

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If one is a hodler, it's very important to think positively as a positive mind is a healthy mind ( person) ! Allowing negative thoughts to get to you could lead to panic selling and if you have heavily invested in crypto this might affect your mental well being and with time your health could deteriorate!
Otherwise to build bullish momentum markets need to sell before going up and this is what's currently happening,its a ticking time bomb before price goes to the moon.

crzy

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Recovery will happen soon and its inevitable, we know this already and those who are prepared will get a huge reward in the next bull run. There’s no assurance though for the next drop, so better to buy now and just buy more if Bitcoin drops to that $14k level. 2023 will be a great year for crypto, let’s be more positive on this.

Rigon

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Quote from: KingsDen on December 23, 2022, 11:39:31 AM

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

If you are sure bitcoin will get to 14k and pump from there, what then stops you from doing dollar cost averaging from 16k? There is actually no much difference. How about if the market reverses from 16k?
You can think about it.

There are many people who make this kind of mistake most of the time. They wait for market dumping. And after the market is dumped they wait for more dumping. But they never notice that if the market goes up from here then their investment will stop.Or to invest from high market.

Those who are still waiting to invest, don't wait any longer and invest from this instant market. Because this is the best time to invest and if you are a long term investor then wait for the auspicious day

goaldigger

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Quote from: KingsDen on December 23, 2022, 11:39:31 AM

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

If you are sure bitcoin will get to 14k and pump from there, what then stops you from doing dollar cost averaging from 16k? There is actually no much difference. How about if the market reverses from 16k?
You can think about it.

Being bullish is continuously buying and yes cost averaging might be an ideal way to increase your chance of getting a higher profit once we go to a bull trend again. If its for long term, I’m also bullish with Bitcoin though panic might still be here in short term as many negative news affecting the whole crypto market. We might see the reversal of the trend early next year, let’s hope for that.

jaberwock

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Quote from: Adbitco on December 23, 2022, 01:13:12 PM

From the Historical charts i don't think there would be bear market so far, all i see is a positive trend which would like touches back $19k but within 31st December to 10th of January we could see it at $20k to $21k.

Well, that is if the history repeats itself but what if not? There's still a possibility that prices can move randomly. BTC is now in green but the increase were only small so I don't think this can be said that we are now going for a bull run and the bear market will finally end though this increase can continue till we touch $19k, and the other two values that you listed above. They are only small so they are pretty possible to get. What about now @fennic. The price of $16k per BTC is still a best buy imo.

Don't expect too much about the bottom because the price of BTC can still rise even without it. Buying alts is also fine as long as it was a nice alts, and not a junk one.

LoyceMobile

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I'm bullish on Bitcoin because it's deflationary, which makes it better than fiat in the long term. I don't need lines in graphs that.

South Park

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Quote from: KingsDen on December 23, 2022, 11:39:31 AM

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

If you are sure bitcoin will get to 14k and pump from there, what then stops you from doing dollar cost averaging from 16k? There is actually no much difference. How about if the market reverses from 16k?
You can think about it.

This is something that I think as well, why is there such a fixation with trying to catch the bottom? I know that if someone can do that then their profits will be the highest once bitcoin reaches a new all time, however buying slightly above the bottom does not change things that much and it is way easier to do, as most of those which buy at the bottom did not did so due to their amazing skills as traders but simply because they got lucky.

Adbitco

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From the Historical charts i don't think there would be bear market so far, all i see is a positive trend which would like touches back $19k but within 31st December to 10th of January we could see it at $20k to $21k.

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

From one's experience i don't even suggest you should buy altcoin anymore, rather while not channel that efforts to buy bitcoin and hold since most at times bitcoin recovers more faster than any other coin out there.

KingsDen

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Hello Leo! You can still win.

Quote from: fennic on December 22, 2022, 12:38:53 PM

I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

If you are sure bitcoin will get to 14k and pump from there, what then stops you from doing dollar cost averaging from 16k? There is actually no much difference. How about if the market reverses from 16k?
You can think about it.

tranthidung

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Bitcoin is always bullish if you look at its Yearly Lowest Price. I don't run a newest update for you but from Coinmarketcap, you have a price table for Price on this day.
https://coinmarketcap.com/currencies/bitcoin/historical-data/

Simplify it by looking at Satoshi per dollar chart. What is a trend you see? Bullish or bearish?

I only see a bullish trend for Bitcoin but definitely its journey is not rosy and smoothly.

Ryker1

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Quote from: fennic on December 22, 2022, 12:38:53 PM

^[snip]
I will buy Bitcoin and other crypto if it came to the 14k level cause I think that at time it should be pumped hard and almost cross 20k dollars in coming weeks.

Well, I hope you are right and it is good to see that you have positive insight about it.
I am also hoping that the bitcoin price will reach that price when I have enough stored in my wallet. But as of now --there is no point in wishing bitcoin will go pump because I did not accumulate it and I did not receive yet a Christmas gift were supposed to be I will invest in bitcoin when the price is low. Each of us as investors has different prefer on the market, whose investors are waiting for a bullish trend to enter the market and those investors who already accumulated are also wishing for a bullish market so that they will cut their profit.

cryptoaddictchie

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Its good to be optimistic for investors but for traders it would not be favorable given that huge falling wedges.

Quote from: Tytanowy Janusz on December 22, 2022, 02:35:41 PM

I'm not talking its not the good time to buy. Maybe its the bottom. Maybe we are about to start bull run ... but not based on your analysis.

Hope you are right. Its been a long time already that we have a very bad market. Even prediction panned out for some, most of the traders arent good on this market hence filling up more short instead of long orders.

jackg

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https://bit.ly/387FXHi lightning theory

That falling wedge looks quite steep and it's also possible we could touch the bottom more than once before there's a reversal or a break of the supports and resistances.

Elliot waves are generally considered unreliable as has been said above but I think there's a good chance we fall from here down towards 10-14k, I'd expect it to be swift though and fairly random when it happens (so we could recover more first too and even stay here a few months before then).

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