I think Bottom is gone - page 5. | Bitcointalksearch.org

Kemarit

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Quote from: rat03gopoh on January 18, 2023, 07:36:14 PM

Bitcoin is again churning out support on the 1-hour time frame, I hope it doesn't actually get broken this time on a minus -3% overnight crash given this is not strong support (only formed in the last few days) or bitcoin has to hit bottom again which is very dull.

Yeah, there was some negative news earlier that put a damp to the rally that we have like in the last 10 days. Nevertheless, settled down a bit now, $20,700 seems to be strong support for now.

So I do believed that we might have bottom for now, and this strong support will carry us to the next level, $23,000-$25,000 should be the next obvious target in February. Just continue to accumulate though, still the best time as the price is still very cheap.

michellee

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We may think that the bottom has disappeared but we never know how the market will move. Basics can happen again if there is negative news about bitcoin, the market, the global economy or anything else that can affect the crypto market to lose its defensive power.

Currently, bitcoin is experiencing another correction with a condition of falling $ 20k but hopefully, the price will not continue to fall but can return to $ 21k. The current situation is unstable as there seems to be a force pulling the bitcoin price up and down continuously. So you have to be careful before deciding to enter the market.

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Bitcoin is again churning out support on the 1-hour time frame, I hope it doesn't actually get broken this time on a minus -3% overnight crash given this is not strong support (only formed in the last few days) or bitcoin has to hit bottom again which is very dull.

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Quote from: raybucks on January 14, 2023, 01:22:03 AM

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume

https://ibb.co/HhJdtvJ

tell me if i am wrong or right experts

you might be right or maybe wrong who truly knows? bottom might be gone but may go again soon? with this semi Bull happening , I was wondering that this is another bull trap like what we had in the past?

with those stats you given that is not even an assurance that we will be heading towards Bullishness till halving comes in 2024 but who know?

I love that to happen in at least end of this year.

STT

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Use weekly bars to consider this idea also weigh up the volume that is traded in these last days vs the weight of previously traded BTC. The weight is what really matters, price tag on any asset or product is an attempt by markets to motivate the most people to engage (in that exact moment). We can have one person buy at 30k and it wont matter, that vote or trade done remains personal and so to with any lesser volume it reduces in importance vs larger amounts. BTC is also quite unique in being traded every time zone separately, other markets try to centralize their price point far more then BTC manages. So a day price is not enough, 1 week matters more but always time and volume tells us the real direction.
The bottom price will take more then a month to really prove imo, when we moved in 2019 I never really believed that was going to stick though I should have traded it better for sure. We will take more time then it appears at first, inertia lags and matters far more for genuine price change seems like.

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Quote from: AakZaki on January 18, 2023, 02:57:07 PM

Quote from: bestcoins1 on January 16, 2023, 10:42:23 AM

I don't think of the current increase as a pump even though Bitcoin has gone from $16K to $21K in the last two months of a different year but it certainly should still be considered a good thing because the real pump also started as small increments that happened slowly because the pump doesn't always happen quickly in Bitcoin. And I still really want to see Bitcoin get to $30K sometime soon or before the second quarter of this year.

Before reaching $30k, of course there will be some corrections first. Currently I'm still waiting for bitcoin to correct and reach a bottom at this moment to start buying again and add to the bitcoin stock that I hold. A sharp rise will also be followed by a sharp fall, but we can only hope for a moderate decline and no FUD like last year which has created a negative sentiment in the market.

Correction might happen at the level of $20k as Bitcoin holds a strong support at the moment.
I’m very bullish right now and I think bear market is already over. What we can expect is that, the price will start to rise and buying some now can be a good idea. I don’t think $10k will be hit again just like the prediction of many in social media, let’s be more realistic here and once that $30k will be hit again, we might see new ATH this year.

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Quote from: bestcoins1 on January 16, 2023, 10:42:23 AM

I don't think of the current increase as a pump even though Bitcoin has gone from $16K to $21K in the last two months of a different year but it certainly should still be considered a good thing because the real pump also started as small increments that happened slowly because the pump doesn't always happen quickly in Bitcoin. And I still really want to see Bitcoin get to $30K sometime soon or before the second quarter of this year.

Before reaching $30k, of course there will be some corrections first. Currently I'm still waiting for bitcoin to correct and reach a bottom at this moment to start buying again and add to the bitcoin stock that I hold. A sharp rise will also be followed by a sharp fall, but we can only hope for a moderate decline and no FUD like last year which has created a negative sentiment in the market.

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Quote from: royalfestus on January 15, 2023, 02:22:27 PM

The reasons for pump like this are usually not sensible and it is a revelation that some people control this market but they consider some parameters of traders. They do it through exchanges. Bitcoin has always led the market in the bull and the response has been same from people at the begining, except this is attempt to distract people

I don't think of the current increase as a pump even though Bitcoin has gone from $16K to $21K in the last two months of a different year but it certainly should still be considered a good thing because the real pump also started as small increments that happened slowly because the pump doesn't always happen quickly in Bitcoin. And I still really want to see Bitcoin get to $30K sometime soon or before the second quarter of this year.

traderethereum

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Quote from: ?? on ??

But if there are no reason for Bitcoin to fall and no reason for Bitcoin to rise then the highest bidder between demand and supply takes the lead. We are gradually approaching limited supply even if it hasn't started yet but with the recent pump it seems the market is gradually adjusting for a mega pump.

The market will improve eventually and the time will come when we can all return to huge profits.
The current state of affairs brings bitcoin back to above $20k and $21k and even then, it will continue to climb higher.
But there is a possibility that the price will remain at the $20k-$21k level for a while, so we are still allowed to accumulate more bitcoins.
And we as bitcoin holders, must be prepared for all situations so that we can move according to the conditions that occur in the market.

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Quote from: S A KHAIR on January 15, 2023, 11:17:47 AM

There is no reason for the recent price increase, bitcoin is always full of surprises, may rise and may fall. 2 weeks ago, people were still very pessimistic about the market, but as soon as bitcoin rallied 15%, people changed their minds. I wouldn't be surprised if bitcoin drops to $17k tomorrow, and people will believe we are near the bottom. There are no predictions for the future of bitcoin.

Why are there no predictions for the future of Bitcoin?
Is Bitcoin's journey that has been more than ten years and recorded in history not enough to prove the future of Bitcoin which will continue to improve? I am never pessimistic about the future of Bitcoin as long as Bitcoin is still circulating in the market and also as long as Bitcoin is still being traded by many people on many exchanges. This means that Bitcoin has a clear future even though it is difficult to predict the price precisely for a certain time.

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There are no experts here, we just like you, rely on a few factors to make predictions, and predictions can be right or wrong.

As for my prediction, I still doubt this is a short rally for the market, like in the middle of a cold winter, there are still a few days of sunshine alternating, and winter is not over yet. Along with that, the economic situation as well as challenges from the war between Russia and Ukraine are still many, so the expectation of an economic recovery to pull the market up is quite fragile. And we still have about 1.5 years until the halving.

royalfestus

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Quote from: S A KHAIR on January 15, 2023, 11:17:47 AM

There is no reason for the recent price increase, bitcoin is always full of surprises, may rise and may fall. 2 weeks ago, people were still very pessimistic about the market, but as soon as bitcoin rallied 15%, people changed their minds. I wouldn't be surprised if bitcoin drops to $17k tomorrow, and people will believe we are near the bottom. There are no predictions for the future of bitcoin.

The reasons for pump like this are usually not sensible and it is a revelation that some people control this market but they consider some parameters of traders. They do it through exchanges. Bitcoin has always led the market in the bull and the response has been same from people at the begining, except this is attempt to distract people

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Quote from: Findingnemo on January 15, 2023, 10:57:55 AM

Quote from: franky1 on January 14, 2023, 01:36:47 AM

the bottom is set. it still sits at ~$15k and the speculative market could test that again
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone

the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.

however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)

as for market cap number.. its a meaningless number. dont put any emotion or thought into it.

I thought that price could fall even below $16K but for the past few days there has been a significant rise in the price and it almost reached $19K even though I don't know the exact reason for the bullish trend but it seems that bottom is over because we have been in the bear market for almost a year now there will be a correction and we can expect gradual growth.

Im not either shocked nor get surprised with the current market condition which this small percentage rise isnt really that that something interesting anymore.I've been rather expecting to see below 15k support
line which it did able to hold up that well.We didnt really see any positive sentiments or news around which we could assume out that it was the main reason on why we do have this current price increase and trying out to break that 21k resistance which it is really that trying to testing it out.Im not sure if this is an another bull trap or trying to Fomo out but these are indeed probabilities as always.
This is why if we have able to get in 15-17k price then it wont really be that a bad idea on making yourself to secure profits in shorter time duration.Lucky for those who do able to make those long
position on futures but for now shorting would really be the best position imho but as always its not a guaranteed thing.

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Quote from: Findingnemo on January 15, 2023, 10:57:55 AM

Quote from: franky1 on January 14, 2023, 01:36:47 AM

the bottom is set. it still sits at ~$15k and the speculative market could test that again
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone

the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.

however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)

as for market cap number.. its a meaningless number. dont put any emotion or thought into it.

I thought that price could fall even below $16K but for the past few days there has been a significant rise in the price and it almost reached $19K even though I don't know the exact reason for the bullish trend but it seems that bottom is over because we have been in the bear market for almost a year now there will be a correction and we can expect gradual growth.

There is no reason for the recent price increase, bitcoin is always full of surprises, may rise and may fall. 2 weeks ago, people were still very pessimistic about the market, but as soon as bitcoin rallied 15%, people changed their minds. I wouldn't be surprised if bitcoin drops to $17k tomorrow, and people will believe we are near the bottom. There are no predictions for the future of bitcoin.

Findingnemo

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Quote from: franky1 on January 14, 2023, 01:36:47 AM

the bottom is set. it still sits at ~$15k and the speculative market could test that again
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone

the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.

however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)

as for market cap number.. its a meaningless number. dont put any emotion or thought into it.

I thought that price could fall even below $16K but for the past few days there has been a significant rise in the price and it almost reached $19K even though I don't know the exact reason for the bullish trend but it seems that bottom is over because we have been in the bear market for almost a year now there will be a correction and we can expect gradual growth.

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Quote from: decodx on January 14, 2023, 09:00:22 AM

Quote from: raybucks on January 14, 2023, 01:22:03 AM

tell me if i am wrong or right experts

No one can tell you that. Just because there has been a rally today and yesterday, it doesn't necessarily mean that the "bottom is gone" and that the market will continue to rise. The same thing is true of the other side of the coin: A big drop doesn't mean that it's time to panic and sell everything.

The market is volatile and unpredictable. Anyone who claims to know its next move is lying. The only thing that's certain is that there will be fluctuations in the market, both up and down.

The market is always unpredictable no one can where the market price is heading to , but we just need to have patience and understand that the bull market will definitely come after the bear market has taken place.

The bear market can't last forever let's just expect that the bull market can occur at anytime. The market price is going high and might likely be that the is about to take place but the market is unpredictable, but the bull will definitely take place.

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Quote from: raybucks on January 14, 2023, 01:22:03 AM

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume

I am neither overly excited nor dismayed by the current bullish trend in Bitcoin. But when such green signal appears in the market it is enjoyable for all. Bitcoin price has risen somewhat in recent times but anytime it can turn it to decline. I am confident that the total investment will increase further in the coming days. Although I am still assume that it may turn bearish again and come in at $14K. But by the end of this year I can definitely get something good from it. So i don't want to be too positive seeing a bullish trend. Because in the history of the past, this kind of trend of the market was often seen. Though this is a positive sign, investors should do market analysis and invest cautiously.

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Market was bullish by hours ago, now it's more stable. Resistance line is definitely at 21,000$ and support at 20,299$. Traders and investors are playing between these prices' ranges. It seems Bitcoin still lacks strength to break the resistance with solidity, but let's hope it can stay above the support level for a decent length of time. Rome wasn't built in a day, neither a Bitcoin bull run, although step by step it's going to happen sooner or later.

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Quote from: Swordsoffreedom on January 14, 2023, 10:38:27 AM

Quote from: mindrust on January 14, 2023, 01:41:42 AM

It appears so for now but we will never know for sure. What if another bad thing happens tomorrow and bitcoin/stocks make a nosedive? To be honest,I think technical analysis is bullshit. Anybody can draw any line on any chart. Yours isn't an exception. Everybody says something according to TA but there is no one TA, everybody makes their own. People were saying bitcoin was cheap when it was $30k, then it went to $15k. According to them $30k was the bottom. Where are they now? Making new charts.

I'm not saying technical analysis is bullshit, but I don't fully trust charts either. Bitcoin spike to $21k broke all previous technical and fundamental analyses by experts, and you are right, everyone is making a new chart just like OP. He changed his mind too quickly;D Grin

. Bitcoin is still unpredictable, and there are always surprises, don't just look at those zigzags but can confidently predict bitcoin.

The market is not only about us, there are big players who are silently manipulating everything, if we can draw the chart, they can do it too. Don't think we can beat them just by relying on the chart.

yes , technicals are made by big players to make retail traders rekt , By doing opposite to what other retail traders think ,

There is technicals in every move of the market , so people can't understand where big players want to move the market ,

but there is war between big players also no one can exactly know what the market is going to do

so just DCA DCA DCA ....

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Quote from: mindrust on January 14, 2023, 01:41:42 AM

It appears so for now but we will never know for sure. What if another bad thing happens tomorrow and bitcoin/stocks make a nosedive? To be honest,I think technical analysis is bullshit. Anybody can draw any line on any chart. Yours isn't an exception. Everybody says something according to TA but there is no one TA, everybody makes their own. People were saying bitcoin was cheap when it was $30k, then it went to $15k. According to them $30k was the bottom. Where are they now? Making new charts.

I'm not saying technical analysis is bullshit, but I don't fully trust charts either. Bitcoin spike to $21k broke all previous technical and fundamental analyses by experts, and you are right, everyone is making a new chart just like OP. He changed his mind too quickly;D Grin

. Bitcoin is still unpredictable, and there are always surprises, don't just look at those zigzags but can confidently predict bitcoin.

The market is not only about us, there are big players who are silently manipulating everything, if we can draw the chart, they can do it too. Don't think we can beat them just by relying on the chart.

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