Topic: I think Bottom is gone - page 2. (Read 889 times)

Aren't we suppose to start seeing sideway movement before we shot up in the sky? I believe sideways should happen first and that's my indication that we are out of the woods already, right now all we can do is wait and watch carefully, and the safest plan is to be ready for any possible dips, store some USD and keep doing DCA just in case.

I think it is too early to conclude that bear market for Bitcoin is over and that it has entered in Bullish phase. The interest rate increase of only 25 basis points was a good stimulant for the market but it failed to push the price above 25K,although  it briefly pushed the price above 24K but quickly retreated. It is stable above 23K which is a good sign.Technically , although it is trading above DMA20 but it should break 25k and show sustained growth  on weekly chart, to confirm bullish trend.

but till today , this very moment? stays ALMOST 24k , meaning we are far from extending the increase at least another week or this whole month?
though we all believe that bottom is gone but we are waiting for When is the increase completely happening and not just like this that we are almost blind to what will truly come.

When you are too optimistic and expect the price to continue rising, even though the price has reached the upper threshold, or is already Overbought (RSI value exceeds 70) it is a sign that the market is getting saturated and it's time for a correction.


When you decide to buy at $69k which is the highest price, it's just a push of FOMO that happens that the market is going to reach $100k.
But in reality, you fall into the trap.

You can't just rely on trust, but you need to look at the chart whether the market is getting saturated or not.

Bitcoin price is still stable above $ 20k and yesterday touched $ 24k.
Hoping it will continue to improve, But a correction is sure to occur and some FUD will start to appear to influence the market.

Whales will not stay silent, they will manipulate the market and take advantage of every manipulation that is done.
A slow recovery is needed to build up volume to be able to reach higher prices.

When the bitcoin price reached its last ATH in the last year, then there is an opportunity to start reaching a new ATH because FOMO will occur and everyone starts to believe ATh $100k will be reached.

That's because if the price is still at $25k to $30k, it is still lower than the last ATH so it can't be called a bullish season yet but it was the recovery phase of the market before getting a bull run. But even so, we can be happy because, in the end, the price of bitcoin can start to increase slowly, and if the bull run moment returns this year, which makes the price return to around the last ATH price, it will only be a matter of time until the bull run comes. Hopefully, no more lows below $20k and the bitcoin price can stay above $20k for the bottom.

The movement of bitcoin is of course difficult to predict, when we are too optimistic that the price will continue to rise what will happen is the opposite, just like what happened at the end of 2021 when the price reached $ 69k made me excited to buy because many believed the price would soon touch $ 100k, unfortunately the price continued down until the end of 2022 to reach the lowest level of $ 15k, under any conditions, of course we must be vigilant, if there is a daily change of more than 5% then take action immediately.

Even if bitcoin hits $25k and can hit $30k, it still can't say we're in bull season, bear season isn't over yet. What is happening is just a short term bull run, don't let the market fool you, as there is a good chance that after the bitcoin bull run, there will be a correction afterward. I predict after this rally bitcoin will correct below $20k again but there will be no new bottom.

When people do see these increasing moments then they would really be molding up that kind of impression that this might be already the bull run that we are really all waiting for which is really very wrong.
Come to mind that we do have that ordinary days where volatileness could move out 2-5-10% a day without having any news or significant sentiments in the market or just purely move on random
and this is why its really hard to make out some conclusive approach due into this behavior or Bitcoin or crypto as a whole. Bottom is gone? Dont make yourself that too confident
because price could make out some hard correction or dump which we dont know whether it would happen or not in next minute.

It makes sense, because this is only a recovery but there could be another fall that could make the current condition worse.
Indeed, in this case, their increase from the initial $ 17k until now is quite good, but that does not mean this will be bullish because there could be other possibilities regarding some conditions which require them to drop further down later.
We have to stay alert, this is still like a rollercoaster that can go up or down at any time so don't get too complacent about this now.

How can you said said that current market is on Bull-run where the ATH record of bitcoin is more than 69k . If you said here that the market is currently recovering, it would have been a little thought.
Even then if Bitcoin touch 25k in this week I will says that market condition is still unpredictable and we should take more time to observe market condition for that bull-run signal. Because in the passed year 2022 we were also seen this position.
So I am not agreeing with your option and I will say that market is still on bearish position. And we may have to pass this year to see the market in a bullish position

The market overall resembles a roller coaster, its almost like its designed to throw you from one extreme to another.   Or like a shark it has to keep moving in one direction or another, we are meeting old volume around 25k so I perceive resistance and presume down is possible in response.   Something we can bet on there will at least be a proper attempt to move the price down because we been ascending for a while without a large sell  and nothing is ever easy.   21k is the target for the downside I've heard recently and that seems entirely reasonable to me.
  However there is a big but, in that the wider market is more bullish then I remember since perhaps last April when I thought it was surprisingly light in the middle of a war that would negatively effect most of the Europe.    Waves of negative action dont come together but when your back is turned it knocks you over with a sudden swell of unexpected news, could be anything but presumably inflation does cause harm to various order books.    Overall long term I remain bullish but only cautiously and expecting selloffs during any recovery of BTC.
  OP could be correct of the bottom price being in but we have to say thats part of why we rose right now.   Thats a premise that market will test probably harshly sooner or later.

I don't quite get you,
Your saying, we are in a bull run but the bears will stop soon! If am to go by your statement, I means we are still very much on the bear market an that is what it is. We are not in the bull as you earlier proposed. The market for this bear season dipped at $17k and with the market now around $23k being a $6k difference, that's not much which means, we are still in the bearish zone. If you get to look at the ATH around $65k+ you would agree more that the bears have still got the market and the bulls haven't go much momentum to push for a bullrun.

The crypto market is currently in a bull market, and of course the bear market will stop for a while. And popular altcoins are also experiencing price increases. We hope this will continue. Even the price of Bitcoin has reached $ 24k, maybe in this week it can reach $ 25k. Usually this kind of improvement will last two to three months.

Not nearly touching $24K, but if you start looking at the Bitcoin chart that is moving today, the price of Bitcoin briefly crossed $24K today even though it was only for a short duration before dropping again below $24K. Actually it could be a bit of an assessment that at the beginning of this year there were no more people who felt panicked and doubtful about Bitcoin so they continued to make purchases on Bitcoin very comfortably in the market.

Everyone is happy to see the green market again. But I suspect that even without a major crash, it is tough to expect bitcoin to hit a high or rebound strongly this year. Bitcoin rallied over 40% in January and hit $24,000 on positive Fed news, but could still fall again as the bear season hasn't completely gone, the 4-year cycle is still repeating itself. We cannot expect a bull season as the halving is still far from us, unless the market wants to make new history as you would expect.

Very happy because today bitcoin rising again and almost touches $ 24k, although there is now a small decline but still in a good range of $ 23700, I am optimistic that in 2023 it will rise again like 2021 or maybe better, hopefully there are no big cases anymore which made panic like 2022.

Even though bitcoin has been up and rallied for 3 weeks, we are not out of bear season yet, so a bitcoin drop is also possible, I don't think bitcoin is recovering, maybe this is a short term rally.
The market barely moved to wait for the news of the first Fed meeting in 2023, and if as expected, the Fed only announced a 0.25% increase, that would be big news for the market. Bitcoin's upcoming trend will be determined by news from the Fed.

I think the bitcoin recovery has already started. In case you haven't noticed, it's been rising for a month now. The main thing at this point is that there are no sharp pumps. Everything is growing smoothly, without many people even noticing. As already said, bitcoin is now in the resistance area. If this is broken, it will continue to rise.

thanks for the link mate , and for the sharing but like now it has been small dropping happens and possibilities of another trap is there?
yeah this happened several times just from the 20k spike but still something we can afford to risk.
I am waiting to let go once the price starts dropping to 21k again but this will be depending on how the market shows me progress overtime and that would be the decision making for me, no matter what happens next because I am more on safe keeping now than to risk.

We can't conclude on this particular thing, because i believe that Bitcoin can Fall or rise any time, button of Bitcoin can happen any day or time i have seen. Because i believe that Bitcoin increment is not. Measurable from my observation of increment and rotation of Bitcoin from my understanding.