Topic: I personally think bitcoin is bullish right now. - page 3. (Read 821 times)
Bitcoin is bullish by year-end now the year end is coming so nov dec jan bitcoin is bullish and we can expect price growth in this time every year so by this year end again we can expect prices of 20 thousand dollars
I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
I read your post earlier and forgot to reply.Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
I wanted to post this:
So here is what happened since the last down trend.
I am expecting the price of Bitcoin to go down a little more, perhaps down to $6,000. We can see that if the price goes down $200 or $300 more, the RSI still has a "comfortable" margin for a bullish trend again soon. We'll see this in a few weeks time.
Stop pretending to be an "expert" and start looking at the only chart that should be the universally accepted reality of Bitcoin, as a deflationary currency, a true sovereign store of value, and the only type of "hard money" that will out live all other cryptocurrencies.
Zoom out!
And that is why we should put our hope in the future of bitcoin and others cryptocurrencies. In reality bitcoin has have a nice growth in 2017/ 2018 than 2015/2016. I believe that In 2019 most of the agency rejecting cryptocurrencies will come up begging for adoption.
I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
I still think that we've got some more space to go potentially before we finally hit rock bottom in this bear market.
And even if we already have established the bottom at $6k, it's very likely that we're going to see further consolidation at this level for at least several more months until the end of the year, before a recovery actually starts happening.
For one, market sentiment is bearish still, and even though institutional investment is coming in, people generally do not react that positively to bullish news in a bear market as they would in a bull market. For two, previous bear markets have lasted around 1-2 years before recovery, which is a figure we have not come close yet, so I doubt that we could consider BTC bullish atm. But a bull market will come eventually, and accumulation will prove to be extremely profitable in the long run if you do so at this price level.
''previous bear markets'' there was really only 1 previous bear market, bitcoin is too new to look at the past. The space is way too different now than it was back then, more coins, more volume, more exchanges, better exchanges, potential good news, etc etc. There is no reason to think this bear trend will continue for 2 years.
Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months there happened some drama like huge bump and dump when the ETF rejection but now it looks like stable on its range and will have organic growth in the coming days.
The good thing happen into BTC price isn't moving down below $6k, the current price may good enough to us and get stabilized. Though ETF event having a decline impact into BTC but it won't worsen its price as it stop the process of implementation. Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months
It's all personal in the end. If you look at the longer term picture then the market has definitely a bearish tint to it, the problem however is that people automatically think it's negative while it's part of the market and actually healthy.The thing with markets is that you can make them look as bullish or as bearish as you like, it all depends on the time frame of the charts you're interested in. It's not worth disagreeing with just because you don't see it as such.
Based on the range you stated it indeed seems like the market has a firm range it's the most comfortable with. There is enough buy support to keep it above $6000 and there is plenty of selling pressure dumping it below $7000 again.
There is a consensual technical definition of bear market: a drop of more than 20% from the 52 week high. We are way below that.
Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months there happened some drama like huge bump and dump when the ETF rejection but now it looks like stable on its range and will have organic growth in the coming days.
Bitcoin playing around this level for months now and maybe we already hit the bottom and bitcoin is just waiting for a hype news before its totally pump high. This is good for the market since bitcoin already stable on that level and maybe we will see the bull trend again in the coming days, just keep on holding and see that worth in the coming months. 
I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
Yes bitcoins is bullish right now, there are a lot of people who are planning to sell or invest and most of them are planning to dump their coins due to different people who are spreading fud.
I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.
I still think that we've got some more space to go potentially before we finally hit rock bottom in this bear market.
And even if we already have established the bottom at $6k, it's very likely that we're going to see further consolidation at this level for at least several more months until the end of the year, before a recovery actually starts happening.
For one, market sentiment is bearish still, and even though institutional investment is coming in, people generally do not react that positively to bullish news in a bear market as they would in a bull market. For two, previous bear markets have lasted around 1-2 years before recovery, which is a figure we have not come close yet, so I doubt that we could consider BTC bullish atm. But a bull market will come eventually, and accumulation will prove to be extremely profitable in the long run if you do so at this price level.
Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months
It's all personal in the end. If you look at the longer term picture then the market has definitely a bearish tint to it, the problem however is that people automatically think it's negative while it's part of the market and actually healthy.The thing with markets is that you can make them look as bullish or as bearish as you like, it all depends on the time frame of the charts you're interested in. It's not worth disagreeing with just because you don't see it as such.
Based on the range you stated it indeed seems like the market has a firm range it's the most comfortable with. There is enough buy support to keep it above $6000 and there is plenty of selling pressure dumping it below $7000 again.
The range has just been tightening since the downtrend started this year. That's why the range is really small and tight right now which is also why I think a bull break will happen. I mean it's definitely easier now than it was 6 months ago where we needed to see 5k+ moves. Right now we only need a 1k move to the upside to break the lower highs.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
Yes, there have been a lot of talking about the bitcoin ETF cause some several companies raise the issue when the US SEC rejected it but the bitcoin ETF happen to be implemented, it will only make the market to bull for awhile cause it will be next year before the crypto market could totally get it require strength.
Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months
It's all personal in the end. If you look at the longer term picture then the market has definitely a bearish tint to it, the problem however is that people automatically think it's negative while it's part of the market and actually healthy.The thing with markets is that you can make them look as bullish or as bearish as you like, it all depends on the time frame of the charts you're interested in. It's not worth disagreeing with just because you don't see it as such.
Based on the range you stated it indeed seems like the market has a firm range it's the most comfortable with. There is enough buy support to keep it above $6000 and there is plenty of selling pressure dumping it below $7000 again.
Bitcoin is not bullinsh or bearish right now it is just constantly moving in the range of $6000 to $7000 for few months there happened some drama like huge bump and dump when the ETF rejection but now it looks like stable on its range and will have organic growth in the coming days.
I do too. I think anything that is not going low is bull and right now it is both going up a little (from $6.1 levels to $6.5 levels) and still has a great potential.
It has at least a 10% increase chance without even a bull, like just a regular normal price increase without getting too hyped. It can do 10% without any issue and easily. That is amazing for any investment for anyone and yet we are here talking about how bitcoin may go to $3k or something like it will never happen again however missing the point of buying from dip and getting to $7k levels with a profit gained from that little small run.
It has at least a 10% increase chance without even a bull, like just a regular normal price increase without getting too hyped. It can do 10% without any issue and easily. That is amazing for any investment for anyone and yet we are here talking about how bitcoin may go to $3k or something like it will never happen again however missing the point of buying from dip and getting to $7k levels with a profit gained from that little small run.
if bitcoin starts rising only because of things you mentioned such as banks investing in it or countries,... then it means bitcoin has already failed and will not survive for long. the fact is bitcoin has been rising (and will do in the future) only because it doesn't need these things. because bitcoin as a decentralized currency that nobody controls already creates enough incentive for people all around the world to want to own some of it and benefit from using it. the rest are only additional pushes on an already rising price.
I agree. Bitcoin price will continue to grow due to growing demand from people willing to use it or to simply have it. But current price is way above price based on those intentions. Most of its current investors are here only to speculate. I dont say that bitcoin need those events to grow at all. I only say that BTC need good news to help with 6k support. Maybe at 4k support we wont need news to save it because we will be closer to price based on real need of BTC. So in my head i see 2 scenarios.
1- 6k support survive due to help from good news what will break downtrend and create new bubble in 2019 with top around 50-100k
2- 6k wont survive we will see drop to 4k where perhaps we will see stronger support based on BTC fundaments and next bubble not in 2019 but in 2021 with top around 200-500k
I bet at liest 90% 2017 - 2018 investors are here only for lambo. They are selling now and their supply is much higher than demand from real world need of BTC. Thats what i see looking at chart that in short term (9 months) looks bearlish to me. Perhaps at 4k support it will look more bullish.
I would love to have BTC to use it in real world but network is not ready, society is not ready, i cant use it in every day payments, I cant go shopping with BTC wallet. This improvements will push fundamental price (price based on real demand from people using BTC) but current price is above that. I dont say that i calculate that. I only see at chart that 6k looks weak to me and without help we will break it.
A downtrend by definition is a trend, not just a down spike. We went from 19891 to 5755. Calling this a down spike is a little "inaccurate". We are on a bear market, fight the trend at your own risk.
Obviously we are in a downtrend
first of all we are NOT in a downtrend. second of all you just contradicted yourself. we can't be on a downtrend and be bullish at the same time! 
i believe you are calling the "small drop" a downtrend which is a mistake. a downtrend is a trend not just a drop.
Quote
when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator.
i am no good when it comes to patterns but this doesn't seem like a descending wedge to me. for a couple of months now the high and lows are pretty much the same with the bottom at $6k. which makes me to believe we have not yet started to be bullish.Yes we are. ''A downtrend occurs when the price of an asset moves lower over a period of time. While the price may move intermittently higher or lower, downtrends are characterized by lower peaks and lower troughs over time. ''
And I'm bullish simply because the pattern is getting tighter and tighter so a big break is coming soon.
''for a couple of months now the high and lows are pretty much the same with the bottom at $6k.'' Not really, weekly highs are pretty clear, 12k - 10k - 8.5k - 7.4k
The lows have been pretty much the same but I consider that stronger than if they were lower and lower.
if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.
If the support will hold. If not we will see 4-5k few days later. Question is - will it hold?
In my opinion there is no chance to it to hold. If market will act normal we we see 6k break in next 2 weeks. Only good news can save BTC.
Support is weaker with every bounce. Why?
1- With second bounce traders were buying on 6k to profit till 12k. Now with resistance close to 6700 it might not be worth to take risk.
2- Those who bought in february, may, with every dip close to 6k are slowly getting into half year into position without any profit. They are slowly getting bored and are looking where to sell
3- Shorters know that braking 5,5-6k will dump market instantly to 4k (stoplosses, overlaveraged longs) - big short from whale is getting more profitable and less risky - it might be easier to earn for big whale shoring at 6k rather than buiying to sell at 6500
4- all willing to buy at 6k range already did. Now we are seeing only low volume speculation
Take a look at silver few years ago and how its end up.
Looks similar to BTC? 27$ support looks as strong as 6000$ for btc
Thats how it end showing bottom at 15$. We need good news to help this support. Otherwise we will see another support at 4-5k what will postopne next pump from december 2018 too december 2019.
''Shorters know that braking 5,5-6k will dump market instantly to 4k'' Not necessarily though. The 6000$ level was broken once on Bitfinex and saw no follow through. Also every time bitcoin approaches 30 on the RSI we see a bounce. At this point the weekly chart looks like an equilibrium pattern with a high, low, lower high and higher low?
We would have to see another lower high and then a bear break, which could happen but we would be close to 30 RSI again.
I agree with you, I also believe that Bitcoin still has the potential for bullishness. I don't think Bitcoin needs to rely on ETFs and Nasdq! Bitcoin and blockchain are interdependent!
Well it might be anything. Big bank willing to invest, country willing to hold small part of its reserves in BTC (f.e. Malta which is soo positive to crypto) , Founds willing to invest in BTC, MT gox case solved by burning remaining BTC and manny more. It might not be something that everyone know it'll happend. Funny thing is that we might see it firstly on chart and then (after all insiders bought) as a news.
if bitcoin starts rising only because of things you mentioned such as banks investing in it or countries,... then it means bitcoin has already failed and will not survive for long. the fact is bitcoin has been rising (and will do in the future) only because it doesn't need these things. because bitcoin as a decentralized currency that nobody controls already creates enough incentive for people all around the world to want to own some of it and benefit from using it. the rest are only additional pushes on an already rising price.
Jump to: