It was easy to know the SELL of this week with a simple chart analysis - page 2.

Yatsan

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Ofcourse it would be easy to draw conclusions, and speculate the price movement but problem is, no one really knows wht will be the behvior in each day. There are sudden crash with the market price even if most of the people in this industry are expecting for a pump. One reason? Manipulation created by big investors in this industry. Once they decide to sell, small investors would be moved as well in a particular direction either up or down.

Quote from: fuguebtc on May 20, 2023, 04:20:22 AM

Quote from: el kaka22 on May 19, 2023, 03:00:40 PM

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I am one of those people waiting for bitcoin to drop further while many hope it will rise again. Not only you but many people believe that bitcoin won't be able to break $25k, but in the end, no one can be sure and it's all just everyone's hope, no one has proof. For my part, I still believe there will be a major correction this year or early 2024, and we still have a chance to buy bitcoin cheaper than it is now, although I'm not sure about that either. But investment is like that, each person will have a different perspective and vision, and only time will answer all.

If we would base from previous charts, there would be first a massive price correction before the actual uptrend occur. Problem is that no one knows when will it occur. We are getting closer to the next halving and this is why there is a mixed expectancy of market price movements. Only time will answer indeed.

AakZaki

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Quote from: DiMarxist on May 18, 2023, 05:39:42 PM

The current network crisis obviously will affect the bitcoin market negatively especially when this problem is an elongated. Don’t just focus on the current situation of the market. Instead, they compare present price movements with historical data to give their technical analysis that all-important credibility. the accuracy and promptness of the figures gotten from price trackers have significant bearings on the market analysis for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.

But in the past there were also similar problems when the Bitcoin network crashed and the gass fee rose high. When long-term analysis using past historical data is outdated, then there is no ultimate guidance. But maybe only a few percent will affect obsolete data data. Bitcoin continues to evolve and the science of analysis is also evolving. Indeed, there will be no accurate analysis, all have weaknesses. several cycles have been passed and soon there will be a 4th cycle and this will be a new history for bitcoin.

fuguebtc

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Quote from: el kaka22 on May 19, 2023, 03:00:40 PM

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I am one of those people waiting for bitcoin to drop further while many hope it will rise again. Not only you but many people believe that bitcoin won't be able to break $25k, but in the end, no one can be sure and it's all just everyone's hope, no one has proof. For my part, I still believe there will be a major correction this year or early 2024, and we still have a chance to buy bitcoin cheaper than it is now, although I'm not sure about that either. But investment is like that, each person will have a different perspective and vision, and only time will answer all.

ethereumhunter

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Quote from: dragonvslinux on May 19, 2023, 02:21:43 PM

Quote from: ethereumhunter on May 19, 2023, 06:27:08 AM

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high.

That's because ultimately no traders or investors ever know how far a bearish correction will go, as it's impossible to "know" these things Wink

The only thing speculators can do is assess how far the correction is most likely to go, based on probability and past performance. For example in March this was $20K, widely accepted by many bullish participants in the market, so unsurprisingly price reversed strong from this level. Right now many think it's around $25K, personally I think it's more like $23K or somewhere in between. Not $26K or $27K.

And speculators and traders can only try to enter the market and make a profit. Even though market conditions are still like this, where prices are still going up and down every day, it is still being used for those who want to make a profit but it requires more in-depth analysis to find gaps to enter the market. This month the price is still around $26k and I suspect it will be like this until the end of this month but next month, there could be a good price move from bitcoin so it could go back to $27k and even reach $30k. So we can only prepare ourselves for the next high price while considering continuing the DCA if your target is to sell bitcoin at more than $60k.

Quote from: dragonvslinux on May 19, 2023, 02:21:43 PM

Quote from: ethereumhunter on May 19, 2023, 06:27:08 AM

But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that.

I never understand the mentality of not wanting a deeper correction during uptrends, it makes no sense to me. The deeper the correction with a strong reversal the more room price has to go to the upside, similar to the $20K correction. Ideally people do "freak out", this would be ideal, as the fear in the market will be a good signal for further investment and trading to the upside, rather than remaining overly bullish.

That's only natural because they have bought bitcoin at a high price, for example, above $ 30k so when the price drops drastically, like now, they are never ready, even if it is a golden opportunity to buy bitcoin at a low price. Those people shouldn't panic but instead see it as an opportunity where it won't come again when the bitcoin price has started its long rally.

tygeade

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Quote from: el kaka22 on May 19, 2023, 03:00:40 PM

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I agree with most of this, I mean the situation right now doesn't look like there is a big chance that we will change anything anytime soon, it will probably stay like this and not go down. After staying like this for a while, it will go up a lot more and the price will skyrocket. People are aware of this, the price will go up because there is a chance that we are going to end up with a bit of a problem when the time comes and that's the reality.

I understand that it may not be anything quick just yet, but it will happen with time because next year we are going to have the halving and that means we are going to end up with something that will be a bit of a difference compared to this year and that's the life we are going to see.

Silberman

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Quote from: el kaka22 on May 19, 2023, 03:00:40 PM

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I also forecast that the price of bitcoin is going to remain close to the current level for some time, after all we are still far away from the halving so we cannot expect the price to go up in a sustained manner unless there was a fundamental reason for the increase on the demand, however we have left the bear market behind as well and as such a sharp decrease on the price does not seem to be on the cards either, and this means that most likely the price will range for weeks or months around the current level.

el kaka22

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I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

dragonvslinux

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Quote from: ethereumhunter on May 19, 2023, 06:27:08 AM

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high.

That's because ultimately no traders or investors ever know how far a bearish correction will go, as it's impossible to "know" these things Wink

The only thing speculators can do is assess how far the correction is most likely to go, based on probability and past performance. For example in March this was $20K, widely accepted by many bullish participants in the market, so unsurprisingly price reversed strong from this level. Right now many think it's around $25K, personally I think it's more like $23K or somewhere in between. Not $26K or $27K.

Quote from: ethereumhunter on May 19, 2023, 06:27:08 AM

But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that.

I never understand the mentality of not wanting a deeper correction during uptrends, it makes no sense to me. The deeper the correction with a strong reversal the more room price has to go to the upside, similar to the $20K correction. Ideally people do "freak out", this would be ideal, as the fear in the market will be a good signal for further investment and trading to the upside, rather than remaining overly bullish.

yudi09

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Quote from: yhiaali3 on May 13, 2023, 06:47:34 AM

Most likely the next strong support point will be at 25k, I don't expect the price to drop to $19,501 for the time being at least.

I agree with this. It is possible that the 25k support point is acceptable based on what we are seeing right now in the market and the lowest price may be 20k in May I think if it continues to decline or there is no change leading to an increase.

Quote from: yhiaali3 on May 13, 2023, 06:47:34 AM

In any case, no one can predict accurately, but in the event of the worst scenario, it will be a good point to reaccumulate more bitcoin for those who missed the cheap prices. We still have almost a full year ahead of Halving, as everyone expects a big rise, so I think it is a good opportunity.

At the point of providing predictions about prices, yes no one can give them accurately. With the current state of the market price for Bitcoin or in recent months this is a good opportunity to buy. As you said, good points to re-accumulate more if a bad scenario occurs. Can not afford in large quantities, so it can be in small quantities.

ethereumhunter

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For people who analyze a lot, they know when to buy and sell but not for people who follow what others say because they get confused when the market moves.

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high. But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that. And hopefully, the price support can still withstand current market conditions and not fall deeper.

Franctoshi

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After the price Bounce at $25.8k, and head up to kissed $27.9k and got rejected back to $26k, the price went back up again and got a second rejection at $27.485k, from my own analysis this confirms to me that the next level we are likely going to tap into is the $25.8k where we got the initial bounce to the up side and failure for the Bulls to push the price back up from that level, I see a price melt down towards $25k-$24.5k

retreat

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There is nothing easy in trading, especially when it comes to analysis using charts and especially in Bitcoin trading. But let me give my view on the Bitcoin situation. For now I believe that the resistance point of Bitcoin is at USD 30/31K and support at USD 22/24K. For Bitcoin's position in the next few months it seems that it will still be sideways, because so far there has been no positive news pushing Bitcoin, but the opportunity for Bitcoin to break through the resistance point is still there this year and I'm really waiting for that moment to happen. And with the news that there will be a halving next year it will strengthen the price of Bitcoin even more and maybe it will reach $ 40K USD next year.

DiMarxist

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The current network crisis obviously will affect the bitcoin market negatively especially when this problem is an elongated. Don’t just focus on the current situation of the market. Instead, they compare present price movements with historical data to give their technical analysis that all-important credibility. the accuracy and promptness of the figures gotten from price trackers have significant bearings on the market analysis for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.

Weawant

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Quote from: yhiaali3 on May 13, 2023, 06:47:34 AM

Most likely the next strong support point will be at 25k, I don't expect the price to drop to $19,501 for the time being at least.
In any case, no one can predict accurately, but in the event of the worst scenario, it will be a good point to reaccumulate more bitcoin for those who missed the cheap prices. We still have almost a full year ahead of Halving, as everyone expects a big rise, so I think it is a good opportunity.

$25,000 is the target for my as well, j don't think Bitcoin will fall below that price. There's a very strong support at that level and it'll take more than just a market correction for the support at that level to be broken and if it does get broken, I'll keep buying more.

I'm not interested in knowing the weekly sell price as I'm not interested in selling and no one should be selling in loss, the market has already fallen in the past week so there no reasonable reason behind selling at this point unless you feel there's more fall coming.

At this stage of the market, I believe the best strategy is to accumulate Bitcoin instead of selling every dio should be seen as an opportunity to keep buying more bitcoin, altcoins are what you should be selling because they will take a major hit if Bitcoin dips further.

MarjorieZimmermanGinger

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Quote from: EarnOnVictor on May 12, 2023, 12:55:49 PM

I didn't flinch a bit since I started selling Bitcoin on Monday. This is not because I often make accurate analyses but because of the high assurance I have on the selling for the week. And as my simple chart reveals, only price action, trendline and RSI did the trick and was a good success.

Short term trading may pay off but it is important to talk about how you can analyze the market on a daily basis. This work is complicated when you are unable to pay attention to market conditions and forecasts are needed for today, tomorrow and so on. That's why not many people can analyze bitcoin in the short term because they talk about price fluctuations that can go down today and up again tomorrow, so there are certain difficulties for those who don't have a strong analysis.

In conclusion it depends on how one can take advantage of the pattern and when people choose the same path as you, then the power of analysis is needed and they also have to be able to monitor the market at all times. As long as you are confident and not worried about the long and short term, this is only talking about utilization and more importantly how the investment you make can turn a profit.

Kelvinid

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when lambo...

Quote from: DeathAngel on May 13, 2023, 05:49:20 PM

Short term price calls are always so hard to get right regularly. That's why I trade after long term holds only. As bitcoin still reacts to 4 year halving cycles it is a lot easier to know what to do & when, rather than trying to follow lines on a chart & different models. Of course it’s fine to take advice & bits of info from different models but short term trading is very easy to get rekt. To conclude, no selling until a year after the halving, buying now is fine.

Those who would like to sell will definitely have to sell their Bitcoin without looking at the chart.
Probably it was not the question of when is the right to sell but the question is if we care about doing this or not. If we don't, then it is not necessary to look at the market trend but rather sell them instantly. But for those who think that Bitcoin will grow after correction will certainly hold and are willing to wait for the perfect price.
"Sell if we can and hold if we really wanted to grow our investment".

TravelMug

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Quote from: gantez on May 16, 2023, 07:38:18 AM

I think your expectation is that the price will have to further drop from $26,333 to $19k from the trend line you show and RSI also confirming the drop with the position of your line but what happens if the result you expect change and instead of coming down it got a strong price action to revisit $31k to further move upward or dont you think a correction can change within little time? This is about speculation and don't have guarantee it will happen like you see on it. There is resistant that pull price down it can go another time for retaste, so watch and don't be carefree.

If that is the case then his TA will be invalidated and so it will form a new trend and we might not see $19k based on his analysis.

But still, the price is fluctuating and after that huge pump we have to like $31k as the OP said, now we are down to $27k and maybe the biggest reasons is the whole ordinal inscriptions and brc-20 token that pushes the transaction fees so high right now.

So his TA is could still happen and we might see $19k. And in any case, it's a good time to buy again for us who waited for the price to at least go ~$20k to enter again.

Findingnemo

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Quote from: EarnOnVictor on May 12, 2023, 12:55:49 PM

upload img

When will the bearish bias last?

That I can't say for sure, but as a trend trader, I see further selling of Bitcoin in the near term and the $19,501 (low of March) is the only immediate noticeable target on the weekly chart.

Tell me your opinion about this and the current situation of Bitcoin from your angle.

This is where it will lead to if we asses the price of BTC with the help of technical analysis and it doesn't necessarily has to follow the way we draw because there are also other factors is affecting the price now especially the ordinals which clogged the mempool and price went to crazy high for weeks and lasting till now which is the main reason why we can see the price of BTC is declining.

Technical analysis is good way to analyse the price track for short term especially for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.

gantez

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I think your expectation is that the price will have to further drop from $26,333 to $19k from the trend line you show and RSI also confirming the drop with the position of your line but what happens if the result you expect change and instead of coming down it got a strong price action to revisit $31k to further move upward or dont you think a correction can change within little time? This is about speculation and don't have guarantee it will happen like you see on it. There is resistant that pull price down it can go another time for retaste, so watch and don't be carefree.

fullhdpixel

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Quote from: michellee on May 13, 2023, 03:45:31 AM

I'm still in the stage of waiting for Bitcoin price to improve again and I'm also still trying to buy more Bitcoin. I see we are still given the opportunity to buy bitcoin because bearish is still happening in the market. And this time, the bears made the price decline even deeper.

And I have also sold some of my satoshis before and plan to buy them again at a lower price. And if the price does drop again next week, we can use that to our advantage.

But it's not difficult to determine when we can sell because it depends on us. But if we really need money to make ends meet, we will not think long about selling Bitcoin at the present or later price and will sell it immediately.

It is always better to sell bitcoin at a best value. We can be able to wait maybe because we are just an investor but for the trader, they can sell at a much earlier time. Investors are also continuously buying and stacking more bitcoins while for the traders, they can just buy smaller portions for a while. This dip is not really for us old timers because we already bought some coins before but it is for the newbies.

There are still newbies who feel confident investing when the price is rising than when it is falling. For the people who need money, some will think properly if they will sell now or wait. They might look for other options as well, only for them to not sell their bitcoins.

Topic: It was easy to know the SELL of this week with a simple chart analysis - page 2. (Read 488 times)