Overall trend remains bearish, your thoughts?

gabmen

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Quote from: pixie85 on March 09, 2018, 05:40:10 PM

Quote from: buytheeffinD on March 09, 2018, 02:10:20 PM

I am somewhat bearish because of the MT.Gox news but that is only one side of the story. There are 10+ other sides which you must consider and if the market can absorb all that dumping off BTC that alone should be a bullish signal. Combine all factors and you have some bullish some bearish, wouldn't be surprised if we ranged for another couple of months.

The fundamentals haven't changed because some idiot lawyer decided to sell Mt.gox coins on an exchange instead of auctioning them. It's still the same Bitcoin and it will go back up once the coins are sold and the gox dust finally settles. I think it's great that the price is so high despite all the rumors and FUD.

Amd its rising. The fear of further sell off was tamed when its official that they can't do that until september so pretty much we'll see accumulation again for btc. 10k has been broken already amd market is looking quite good so let's just wait and see.

timerland

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Quote from: AICoin_Official on March 08, 2018, 06:50:40 AM

a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.

Original by Kuang Ren, translated and posted by AICoin Jami.

Check the full version here:https://www.aicoin.net.cn/article/16384.html

We're only seeing a reaction from the market due to the articles that came out about Binance/SEC/etc.

It's not bearish. It's just a panic dump.

We actually haven't seen prices move down too much each time one of these dumps happen. In fact, the floor at which the prices rebound at is actually getting higher and higher which means that we are indeed in consolidation mode.

Once we see the $10k floor hold up to a panic dump, that's when we'll see a major rally up to $14-15k. But this year shouldn't be overly bullish either.

pooya87

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as far as my knowledge goes, a bear market is where the prices are dropping at least for the most part so it is best to sell instead of buying.
but when looking at bitcoin charts, ever since the bottom was reached thanks to the massive dump at $5900ish we are seeing downs AND ups at the same time which you may call sideways. price goes above $10k then falls below it to go back above it again. rinse and repeat.

pixie85

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Quote from: buytheeffinD on March 09, 2018, 02:10:20 PM

I am somewhat bearish because of the MT.Gox news but that is only one side of the story. There are 10+ other sides which you must consider and if the market can absorb all that dumping off BTC that alone should be a bullish signal. Combine all factors and you have some bullish some bearish, wouldn't be surprised if we ranged for another couple of months.

The fundamentals haven't changed because some idiot lawyer decided to sell Mt.gox coins on an exchange instead of auctioning them. It's still the same Bitcoin and it will go back up once the coins are sold and the gox dust finally settles. I think it's great that the price is so high despite all the rumors and FUD.

dothebeats

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And the whole climb to $11k was yet another bait, and most of us instantly believed that we're recovering. Also, add to that fact that the recent news about the Gox trustee selling chunks of bitcoins in exchanges, the supposed Binance hack and loads of negative press = bears overpowering the bulls. Wouldn't want to go full bullish a week ago and my thoughts were right; luckily I haven't bought anything @ $11k as it seems tobl be strange that the price pushes up rapidly without any real incentive from the market.

buytheeffinD

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I am somewhat bearish because of the MT.Gox news but that is only one side of the story. There are 10+ other sides which you must consider and if the market can absorb all that dumping off BTC that alone should be a bullish signal. Combine all factors and you have some bullish some bearish, wouldn't be surprised if we ranged for another couple of months.

JanpriX

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Seeing the current price right now, it really appears that we are in a bear market and will most likely stay in this trend for quite some time (4 to 6 months). We are getting good bounce day by day but we are not seeing higher prices overall. Those bounces are much like bull trap if you take a look at it. Some people are saying (most likely blaming) the Mt. Gox guy for selling BTC and keeping the price down but in the end, we don't really know the true reason behind this slump. What we all know is that the trend is very clear and that we should be trading according this trend.

BillyBobZorton

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Quote from: btcone111 on March 09, 2018, 11:31:37 AM

I guess it depends on how the remanining Mt Gox coins will be handled!
The moment the supply from Mt Gox dries up, bull market will return.

I doubt the guy behind the Mt Gox sales is going to be stupid enough to keep dumping in exchanges, exposing himself as the most hated man on bitcoin. He is already a dead man walking, if he keeps crushing the price in exchanges instead of going OTC he is going to end up having a visit from some very unpolite men as he is pissing off a lot of people with a lot of coins.

Then again, im sure he knows this, as I suspect he is a government agent with only one mission: to crush the price, and he knows the consequences of doing so. Well, good luck for him.

yonton

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btcone111

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I guess it depends on how the remanining Mt Gox coins will be handled!
The moment the supply from Mt Gox dries up, bull market will return.

Sahyadri

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According to chart analysis, if bitcoin ends above $9100 today, it ll be bullish then and would be a good signal. But if it isn't, then it will go back to $8300. Charts aren't that disappointing at the moment. But crypto market is highly unpredictable and tends to not follow the chart analysis many a times.

liseff3

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Quote from: AICoin_Official on March 08, 2018, 06:50:40 AM

a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.

Original by Kuang Ren, translated and posted by AICoin Jami.

Check the full version here:https://www.aicoin.net.cn/article/16384.html

faaty, Right as you say.
Looks like we'll see the btc price back to $ 8k in the market after what it says 'teramit'.

Quote from: teramit on March 09, 2018, 12:28:02 AM

That address is responsible for last months falling.
thanks to that mt gox trustee.
https://blockchain.info/tr/address/1MaUVgXCgdXLkmXwQ4WDek5yaK86zYXw2q
still some btc in wallet by the time this msg sent.
Bacuse we heart the news i hope thats all

faaty

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Quote from: AICoin_Official on March 08, 2018, 06:50:40 AM

a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.

Original by Kuang Ren, translated and posted by AICoin Jami.

Check the full version here:https://www.aicoin.net.cn/article/16384.html

I agree. Bullish atmosphere and increasing trend line did not occur yet. Market does not react positively to the good news and sell in every bad news. We can not break through the resistance at 12k. I think we may see 8k usd in bitcoin soon. March will be difficult

darkangel11

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Quote from: Jet Cash on March 08, 2018, 12:09:49 PM

I think it is still in a bear phase. It keeps testing the resistance level but doesn't really get throught it. I'm holding off claiming my coins for the moment as I feel it will come down a bit more. I'm hoping that I can catch it before it turns into a bull market, because it could move quite fast once that trend becomes apparent.

It actually does get significantly higher, just look at the first run to 11k. It would break the support if not for the news about supposed binance hack, that turn out to be false after all, surprise surprise Cheesy

Huge speculators have entered the market and are playing with us. It's better for them if the price stays in a certain rage that they can exploit. You can clearly see that this range is between 8 and 11k and we get spikes up and we have artificial bear/bull waves made in this range. Why artificial? Because it's only a fraction of the coins that is being traded every time. There's always something like 10k bought, an uptrend starting to form and the same 10k dumped a week later. I wouldn't really call it a trend.

Idrisu

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Quote from: AICoin_Official on March 08, 2018, 06:50:40 AM

a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.

Original by Kuang Ren, translated and posted by AICoin Jami.

Check the full version here:https://www.aicoin.net.cn/article/16384.html

During bearish trend the best thing to do is to buy more and that is what increase the volume. I keep saying that now provides the best opportunities to buy and I seriously believe that will give us good profit in future. Bitcoin may push higher from next month and breaking $12,000 significant area is a must. We are not seeing any limitations for price future growth.

Jet Cash

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I think it is still in a bear phase. It keeps testing the resistance level but doesn't really get throught it. I'm holding off claiming my coins for the moment as I feel it will come down a bit more. I'm hoping that I can catch it before it turns into a bull market, because it could move quite fast once that trend becomes apparent.

MoonJeina

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Bitcoin is floating in between 9k - 10k making it more stable than it ever was .
That is very unsatisfying to see that people don't see the positive in it . That is just reducing volatility and bitcoin will go to new heights gradually making the fear of sudden crashes less likely to happen . The panic needs to stop really.

1Referee

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Bearish is the wrong term. I consider current market to be in consolidation mode, especially if you follow the main line, that for more than a month now, hints at a strong support base slightly over the $9000 level. All the ups and downs are nothing more than speculative jitters making people excited one day, and less excited the day after that. As long as $9000 stands firm, which I am quite confident with to believe, the market is doing exceptionally well. If people stop focusing on a quick move back up, and acknowledge the current situation, you will feel more comfortable.

glowing10

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Quote from: RamonBTC on March 08, 2018, 09:58:25 AM

Most are sceptical on some issues in the past that has been end. I have miscalculated a certain decreases that have no clue nor no particular news ahead just a sudden files of fud and hackings, unwarranted from big and trusted exchanges. The tides in the sea can be predicted for 50/50, but the bitcoin price is lower than that or even -negative in some sort. I’m still optimistic about its recovery within this month and if not, then wait for another month.

We are having some bad time for the crypto lovers considering this hacking or scam which is leading a bad image about the crypto currency. This is also effecting the price directly and as a result the price gets stable and starts yo rise we hear some bad news and price slightly falls back and people might sell again considering a fall in process.

fabiorem

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My thoughts are that most bitcoiners are not selling anything. Probably 90% are holding it since December, and even those who bought after it, are holding it too.

Its only mr KOBAYASHI who is dumping it.

https://www.youtube.com/watch?v=l39Cvj8iUZg

Topic: Overall trend remains bearish, your thoughts? (Read 330 times)