Topic: I personally think bitcoin is bullish right now. (Read 821 times)

The dump hasn’t even started yet another leg down mark my words it going toleg down before it goes up shorts always want every bit of the last juice.

I think the situation now is not considerably as a bullish because it not reaching the full potential but considerably being become moving steadily to it s full potential, hopefully in the end of the year we will meet what we are expecting.

All that is short between 6180/7800 is a bottom shorter. even if people can make money on the swings the higher lows are confirmed daily and weekly chart when you zoom out on others to.. wehodl from the bottom and liqudate under it.

Bitcoin is bullish in the sense of domination because looking at the market capitalization it seems like the dominance still sitting at more than 50% so thats the best reason to think that this is bullish and enough reason also for us to trust that bitcoin is still kicking and alive

About the price well,were just waiting for the economy tl grow again because as of today world economy is still in bad shape

Hopefully heading to $7400, and we can also see that the RSI is healthy, following the price for now, so if we look at the oblique (RSI) we still have a small margin of drop ($6250).

We are actually in a bullish compare the way bitcoin move last year.  However,  people are complaining because of the rate they buy last year and that has affected there investments . Many people here buy bitcoin above $10,000 and if that is you, you will see the current face as a dump,  bearish and crash.

For those willing to be long term holder, there is this topic posted by a fellow member. A price of $40,000 is predicted at the end of 2019 if the ETF happens soon.

Some optimistic read for a change.

Price manipulator or not, the value was meant to correct anyways, at any certain point in time but the truth about the whole thing here is that, bitcoin being bullish cannot be known now until we get to see some pretty good momentum or until we at least see it go bullish. We are still in a wedge downwards and no one certainly know how the market is going to end up pulling it off in the long run, but for now, I would not be too bullish on bitcoin but probably at least in the short term.

No mate, it is not the worst year in the history of bitcoin and may be you need to go back to the books and check the history of bitcoin to know better. This is not the first time a huge downtrend like this would happen in a market, and simply since you are Junior member, this is absolutely the first one you will be experiencing and that is understandable but what people do not understand is that corrections are healthy and it is always a good time to always find a better opportunity to be getting into the market.

How long have you been in crypto anyways dude? There were downtrends that exceeded 75% in the past though not many were in crypto that time. I share op's bullish feeling since bitcoin has been pretty steady lately.

This whole year is the worst year in the history of bitcoin. Such huge dip in the price has never seen by any one. Those who bought bitcoin for $19343 have lost almost $13000 in each bitcoin. The rest of the year is also not giving any good signs for improvement. How can I say that the market is bullish? If there is any bullishness the price would be more than $20k till date.

I wouldn't call it "the return of bulls" per se......not in the sense of a real bull market. A mid-term uptrend could easily be a correction in a larger bear market. For example, it could be the B wave in an ABC Elliott wave correction. More on that here: http://www.elliottwave.net/educational/basictenets/basics3.htm

Due to the magnitude of the rally last year, I have to assume there will be continued distribution (selling) into any mid-term bull run. There are too many bagholders that need to exit, and too many long term holders that missed the opportunity to take profit last year.

Obviously we are in this bear market so the price of cryptocurrency is bullish, that is the reason why the market is currently dropping hard or increasing since there are a lot of price manipulators today in the market.

I do not see where you saw the price declining. So far, since yesterday, after the bears were rejected, and then we saw a huge bounce, the market has really been holding up, so I would say probably the short term bullish sentiment in the market right now is looking pretty good at the moment. Definitely, this does not mean we would still be able to get above the resistances most especially at $7k yet, but I guess we still have some number of days to watch how that event would unfold.

We do not need any new ATH, just prices above $10k will confirm the return of bulls. For long term holders, just upward movements will give excitements whereas traders who bought at over-bought zones must need to wait like you have mentioned. No other go.

This is what I believe we might be seeing with bitcoin at the moment, and maybe the altcoins will end up being able to have some push during the consolidation. Before we can even start thinking of any possibility when it comes to bullishness, I would say we close above $7000 weekly and in that case, we might just hope for some good days to the upper side in some days ahead.

After all, it is even though the market is still trying to move pretty good in the short term, it still does not guarantee anything much. Because only a new ATH will confirm the persistence of bull's dominance. Without that, I am not ready to enjoy these time-being short-living bull's actions.

If this is the bullish trend then I am worrying what will be your bearish trend look like. The bull run is yet to begin and we are nowhere near the all time high market as well for this year. So have patience OP and see how the long run bullish will make you millionaire if you stay invested in it.

Yeah it is opposite; there is no fastness in the price and growth in bitcoin. The price is almost constant for several months. This situation will continue till people put their money in it and the investment capital increases. When people demand for bitcoin the price will automatically increases. But in these days the market is red and there are no green signals from anywhere.

I´d argue that this is caused by the fact that Bitcoin is traded 24/7 across the globe.
Other markets aren´t trading on the weekends and therefore the market cycles
in Bitcoin go much faster. A few weeks of Bitcoin trading are the equivalent to a year of stock
trading. You also have trading activity from people in countries that are prone to gambling (
a few Asian countries), which increases the volatility even more.

If that isn´t enough, I´d throw thin orderbooks into the mix as well, which increases the price
action and volatility even further!

Different people have different thought about the coming price of bitcoin in the coming months. I think the price will be normal and there are no bullish situations in the bitcoin market. This year people are not very much interested in putting their money in bitcoin as they think that it is just a waste of time and money, better to invest in Altcoin.

I also think the same because of the current situation. People now think that the price will pump again because they are thinking about what happened last year. Now people want to put their money in bitcoin so if the price rise again at the end of this year, they will make huge profits. That’s why the currency situation is changing in bullish situation.

You are right that these years are good than 2015-16 but the fact is this in that time people are unaware of bitcoin and the market cap was too low. You can imagine the price in 2015-16 and then we saw huge bump in the price is 2017, but didn’t continue in this year. All the situations is ambiguous and no clear idea is coming in front of the screen. Hope this bearish trend will end soon.

Bitcoin’s value has declined again for yesterday’s price as it came to 6251 US dollar price from 6500 US dollar which shows a decrease of 250 US dollar. Increase in value is important in the current conditions because people are going towards panic situations as they have no patience to stay here in this long term investment which is needs from us to wait while the price increases and give you profit.

I am with zazarb with this one BTC is neither Bearish or Bullish as it is in fact consolidating in this levels, and every time there is a price rally it will correct back to these levels around the 6,000$ area and every time it do so it will repeat the cycle of this price rallies. Another thing to note at is the price consolidation is getting narrower meaning its price range is getting smaller which is signaling for either a breakdown or break out in the near future.

bull markets = uptrends and bear markets = downtrends. you're just diluting the definition so it has very little meaning. if you zoom out far enough, bitcoin is simply in a bull market for 9 years now, with no bear market ever. that tells us absolutely nothing regarding TA or FA.

what you're doing is very similar. "bear markets have to last multiple years, therefore there was only one bear market, and because mt gox, it's really unlikely we'll have another bear market." sorry but that's a weak analysis. your logic is circular.

2010-2011 was 8 months of rising followed by 6 months of falling. was the 2011 bubble not a bull market, because it was only months long? was the 94% crash that followed really not a bear market, because you invented some arbitrary time requirement? really?

also, regarding that time requirement, any thoughts on this:

just like the 2014-15 bear market was the longest in history, the 2015-17 bull market was the longest in history. everything takes longer now.


why do you blame gox for the length of time it took to recover? sure, the situation is different now. it's been 4+ years. why does that mean a long term bear market is unlikely?

Because that was the only true bear market, going downwards for a few months cannot be considered a bear market. The MTgox hack at the time made it much worse for the market to recover after already a huge crash. So obviously the situation is far different now.

One of my friends always used to say, "support was meant to be broken." Maybe it hasn't fallen below that mark yet because it's only been a month, and markets don't move in straight lines.

I consider it a bear market until bulls prove otherwise by forming a higher high above $7,426. That can form the basis for an uptrend. Until then, we should bear in mind that a sideways consolidation following a leg down suggests bearish continuation: https://www.investopedia.com/trading/continuation-patterns-introduction/

It's definitely not a sure thing, but it makes me nervous to see lots of people declaring the bear market over.

I don't agree with any of you, Because we can not say that we are still in bear market anymore. We reach lowest limit (floor) before almoust two months if i remember corectly, when the price reached about $ 5,800, and after that price never fell below that mark.Of course I also do not think that it has now begun Bull market , because price just fluctuates between 6000$ and 7000$.

It took a long time to recover and I think this is the time to bring your money here into the Bitcoin’s market so that you may get it on such low price will charge you less. It has started to increase if we compare its yesterday’s price and price today shows improvement so we have to think about it in order to achieve this golden opportunity, for huge profit it is the right time to invest right now.

What's the significance of $4,500? I only see one minor pivot there from August 2017. If this sideways really does break down, I expect price to fall further, because so much supply has been bought over the past several months. $3K is definitely the most obvious support level, but admittedly the market often avoids the most obvious course.

In Wyckoff terms, it's definitely possible we've seen a selling climax and retest, so I disagree about the stability bit.

I think bullishness is defined by what the market is doing, not what people are saying.  A good example of this is the silver market.  If you do a search of "silver for investment" or some such search, it's guaranteed (because of SEO) the results are going to be mostly from silver permabulls and places wanting to sell you silver--and meanwhile, the silver market has been dead for years.

And bitcoin?  It's been flat for a while now, but it could break out up or down at any time.  I don't exactly think bitcoin has been demonstrably bullish since it was on its way up to $20k, despite what you read on bitcointalk and crypto news sites.  The market will tell you if sentiment is bullish. 

I also think crypto exhibits far more manic-depressive behavior than other markets do, at least so far.  Bitcoin can easily swing between bearish and bullish in the matter of a week.  It's kind of crazy.

That is a support, not a resistance. You break a support downward to go lower and you break a resistance upward to go higher. It is relative depending on how it is acting at certain point in time, which is why at some point resistance could turn to support and vice versa.
There is no certainty to any bullish momentum at the moment and it is always going to be hard to tell. The market is still trying to find a path and I guess only time will tell.

Technically speaking there is no bump in the price for several months and the price is stuck between $6000 and $7000. What does it means? I wonder where bitcoin is going. Most people are thinking positively that the coming days will be better for bitcoin but the current situation tells that bullish trend holds the market for long time and no signs of improvement.

I think it's the opposite. The graphs show that they will not remain stable if the dip is not reached. If he breaks his $ 6,000 resistance, he'il be down to $ 4,500. difficult to define as bear or bull season. because it's unlikely that $ 4,500 will drop. so such assumptions are not healthy. We have to wait for stability.

I dont know why stupid person here in crypto continue to cry for a bullish market without learning what will happen after this another movement,look what happened after the 2017 december bubbles?We suffer for almost a year now of recovering and still can't imagine how this happens

If i were to choose I prefer having a slowly moving market but advantageous to uptrend..situation like dip market is enough for us to understand that this is th real market and this is the true cryptocurrency world

Many people do not want to see that because their attention is so much focused on the short term that they tend to forget the long term and then, with that, they make terrible decisions and mistakes in their investment judgment.

Bitcoin may not be bullish right now in the short term, but does not mean it has not been bullish in the long term and it will stop being bullish in the long term. As much as people do not want to focus on the long term, they will keep missing out on the opportunities they should be taking advantage of.

Personally we all want to think bitcoin is bullish right now, but technically, bitcoin is in an indecisive state at the moment as it is trying to find a direction. A breakdown below $5700 - $6000 range will surely cause a huge drop downward to the line of the wedge formation and then try to see how to pick up from there again, for now, nothing is certain or guaranteed in this market and all we can do is wait and see how things will turn out in coming weeks and months.

Interesting observation, thanks for sharing. It looks like a potential bullish three drives pattern: https://www.forex.com/en-us/education/education-themes/technical-analysis/bullish-3-drive-pattern/

We're looking for a slight lower low, shorter term. $6,000 would be perfect for that pattern, and for bullish divergence. If bulls can show a sign of strength there, it'll be really promising for a bullish resolution from this sideways. Fingers crossed for that. I'm dying for a trend to trade!

We also keep comparing everything to  how things escalated last year on our way to the current ath. I don't think we can be in the same situation because after that run, things have been different for btc and the entire market.

were you around in 2014? "but there's so much good news! this space is nothing like it was in 2011!" new exchanges were launching and the chinese exchanges were flourishing. new merchants were coming online. crowdsales like mastercoin and ethereum were sucking up coin supply. and yet price kept falling.

there were also bear markets in the second half of 2011 and 2012, and also in mid-2013. the bear market you're thinking of was just the longest one, the only multi-year bear market. in my observation, the market moves much slower (in both directions) as time goes on, particularly after 2013. the post-bubble bear markets are likely to be more prolonged now as a result. i'd be happy to be proven wrong on this, but there's not much to go on besides historical price action and cycle analysis.

Well it's good to see someone here is being bullish and positive, all year round I have seen people panicking and selling their coins. I have also been bullish as all the news coming in was fud, and at the same time major organisation were keen to add it. Indeed the support levels of 6k is very important for Bitcoins, and if we keep on sustaining it I'm sure 10k levels are achievable in the long run. I'm expecting the rally to kick off by year, hopefully it sustains itself this time.

''we are NOT in a bullish market'' I explained why I'm bullish with facts not feelings. We are in a downtrend currently but downtrends don't last forever. The support level has been held for many times in a row. Looking at it from a bigger perspective, bitcoin is still worth a lot more than previous years. It was barely at 6k on January 2017.

You can personally think anything you want, in the end bitcoin has been dropping in price for 10 months straight and people will not care what you personally think when the price has been under 8 thousand for the past 5-6 months. We are in a 10 month bear market and have not seen anything more than 10% price increase for over half a year and that means we are NOT in a bullish market right now. We might be in a dip market where if you purchase right now you will make profit either small or big since its dip anyway but being in a dip market and potential to make profit doesn't mean we are going to be in a bull market.

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

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.

''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.

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.

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 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.

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 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.

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.

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.

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.

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.

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.

''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!

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.

Looking from the onset, I have not seen a reason  to say Bitcoin has not been bullish and it certainly depends on each person's perception about the short term and the long term.

In the short term there will always be noises and possible downtrend which those who bought at the peak as a result of FOMO only will be worried about how far low the price has gone in the SHORT TERM, but that does not change anything in the future as there is still great room for development and improvement.

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.

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.

When you compared with previous years prices almost bitcoin is in a good position but people who bought the bitcoin at the ATH are kept asking when the market will recover. My suggestion is always we have to keep sell order according to the money we have because when we buy at a high value in the same way, we have to buy them low in order to average it.

The price had reached 17k and most of the people buy at the wrong time, that is why people keep on complaining the price is so low, most of the people that complained are the people that only interested in Bitcoin when the price is high, for old user, Bitcoin already got a good rising, we already very grateful to see today's price

People are think on the following: the price of bitcoin has reached more than $17000 and it is hard to imagine that something that was $18,000 has fallen to $6000, every press always makes that comparison, it does not matter if you or the greatest genius in the world try to explain something different. the fact is that in the head of most people this price of $6000 is a big disappointment and that thought will change only on the day when the price is more than  $18000. Days behind I was reading an article, when I paid attention was well stamped: "Bitcoin lost more than 70% since it reached more than  $18000." and had many comments from people saying that the price is very low. There is no way to change people's thinking.

But that doesn't equate to a bull market. It doesn't necessarily mean new demand is going to overtake all the new supply from late 2017 and early 2018 buyers.

Great things are built during bear markets, and I'm sure all this interest from governments and Wall Street isn't for nothing. But the exchange/broker sector grew a lot during the 2014-2015 season too. So did other services, payment processors. Lots of new market participants like hedge funds and market makers entered the market too. It's all part of the larger market cycle.

I’m admittedly not very well researched on LN but this sounds really good buddy. How long does 1 confirmation take?

We are on a bear market (way more than 20% drop from the 52 high) and you say we are bullish? Sorry but it's not a very good way to trade to mix aspirations with reality. The trend is bearish. Don't fight the trend.

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.

And my prediction is as I said "if market will act normal". We all know how manipulated it can be. https://bitcointalksearch.org/topic/m.39964620. Here you can read my math speculation about bitcoin beeing pumped to 20k tommorow which was made only to show that in trading nothing is certain but people didnt get it and are posting shitcomments for 3 months that it was not pumped (hahaha). At the end it may all depend on 1 whale and his point of view - best way to earn.

A little depressing to read, but what you wrote makes some sense, at least to me. Now for a big news, I am thinking about the ETF, cannot see anything else than that in the short or middle term. Technically the ETF would not be good news for the supporters of the original wallpaper, but it would be good for those looking for short term profits (would definitely have a positive impact on the price if it happens).

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.

Institutional interest is something a lot people are focusing on, which rightfully speaking is definitely a next level form of recognition and it takes away Bitcoin's "criminal" edge amongst corporate entities, but it doesn't seem like their interest goes beyond cash settled products yet.

We need to build sustainable growth based on actual user demand, which at the same time is a far more sustainable form of growth. That's why I am extremely happy with how LN is growing out of its 'beta' shell slowly but surely. There are various clients already allowing you to utilize LN to conduct smaller payments and it works extremely well. Even so well, that it almost seems like I'm using some sort of centralized payment service because of how fast the payments are. It's next level shit.

Bitcoin has always been bullish, people just get emotionally wrecked by this bear market. Once we're going up again for a couple of months, no one will even look back at the bear market.

That's only short term, though, if we hold the 6000~ level we will be in a pretty ok situation. Again quite close to change the trend and the shorts are still almost at an ATH so the potential for a short squeeze is still there. I'll be cautious though, some small fud could crash or push the market easily right now.

I read your post earlier and forgot to reply.

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.

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.