The market is at the most oversold level

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: redwine49 on February 09, 2022, 06:31:06 AM

short term investment for me is a good thing, because market conditions always change in a few days. what is very sad is that suddenly there is bad news about bitcoin and the price of bitcoin is in a fast free fall within a day or so. like yesterday's news from Russia and bitcoin treasury being banned, this makes it better for me to run short-term investments and the risk is not too high. always update the news so that we are always aware of what will happen

I honestly don't really believe the news really affects the bitcoin price. People or journalists often associate a story with the rise or fall of bitcoin.
Whatever the story is there will be bull news vs bear news.
When you listen to bull news but in reality the bear news wins and then sometimes.
When you listen to bear news but in reality the bull news wins.
In the end, news is not the only indicator to see where the bitcoin price is moving

What happens is that there is a very strong need for humans to give an explanation to what they see, and this has lead to the big discoveries that we have seen through history, however there is a dark side to this as well, in which people give an explanation based on their own misconceptions about the world and instead hide the truth, most of the time the price moves on demand and supply, however since that is not very attractive journalist need to create a boogeyman to explain why the market went down hard and this is why we see so many nonsensical articles over the internet trying to explain what is happening with the markets.

Ten98

sr. member

Activity: 1008

Merit: 250

Quote from: redwine49 on February 09, 2022, 06:31:06 AM

Quote from: ?? on ??

short term investment for me is a good thing, because market conditions always change in a few days. what is very sad is that suddenly there is bad news about bitcoin and the price of bitcoin is in a fast free fall within a day or so. like yesterday's news from Russia and bitcoin treasury being banned, this makes it better for me to run short-term investments and the risk is not too high. always update the news so that we are always aware of what will happen

I honestly don't really believe the news really affects the bitcoin price. People or journalists often associate a story with the rise or fall of bitcoin.
Whatever the story is there will be bull news vs bear news.
When you listen to bull news but in reality the bear news wins and then sometimes.
When you listen to bear news but in reality the bull news wins.
In the end, news is not the only indicator to see where the bitcoin price is moving

What you are saying is very true because now many news journalists deliberately make news in two different versions to lure readers and provoke investors to panic in order to get out of the crypto market, so don't pay too much attention to news if it's just a piece of writing with the opposite reality.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: btc_angela on February 09, 2022, 04:30:29 AM

It seems we have some mini bull run in the market right now, almost in the 2T again. Some top alt coins have been in the 10% increased in the last 7 days, good indication that we might be in a sort of bullish phase. But I do believed that this is just very short run, but it's good to take advantage of the market and know how to make some money out of the spike in the alt coin market.

It seems that way, the results we are getting from the market right now are great but we cannot lower our guard, just as bitcoin has recovered relatively quickly from the correction that we saw we could always see yet another reversal and the price could go down, right now it is incredibly difficult to try to guess which direction the market is going to take that I think the best option is to simply hold our coins and wait until the situation is more clear, as the market has been moving erratically during the last weeks.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: ?? on ??

short term investment for me is a good thing, because market conditions always change in a few days. what is very sad is that suddenly there is bad news about bitcoin and the price of bitcoin is in a fast free fall within a day or so. like yesterday's news from Russia and bitcoin treasury being banned, this makes it better for me to run short-term investments and the risk is not too high. always update the news so that we are always aware of what will happen

I honestly don't really believe the news really affects the bitcoin price. People or journalists often associate a story with the rise or fall of bitcoin.
Whatever the story is there will be bull news vs bear news.
When you listen to bull news but in reality the bear news wins and then sometimes.
When you listen to bear news but in reality the bull news wins.
In the end, news is not the only indicator to see where the bitcoin price is moving

adiebitsler

hero member

Activity: 1106

Merit: 509

Quote from: ?? on ??

short term investment for me is a good thing, because market conditions always change in a few days. what is very sad is that suddenly there is bad news about bitcoin and the price of bitcoin is in a fast free fall within a day or so. like yesterday's news from Russia and bitcoin treasury being banned, this makes it better for me to run short-term investments and the risk is not too high. always update the news so that we are always aware of what will happen

Can you share the source of the news here because what I read on twitter is the opposite and Russia will also receive Bitcoin very well in the middle of February, so I want to know the source of the news you are reading because now there is a lot of FUD news about bitcoin which is still true very doubtful.

btc_angela

hero member

Activity: 2660

Merit: 551

It seems we have some mini bull run in the market right now, almost in the 2T again. Some top alt coins have been in the 10% increased in the last 7 days, good indication that we might be in a sort of bullish phase. But I do believed that this is just very short run, but it's good to take advantage of the market and know how to make some money out of the spike in the alt coin market.

bitgov

sr. member

Activity: 1554

Merit: 260

Quote from: seleme on February 06, 2022, 04:42:09 PM

Oversold according to technical analysis, we can't ignore the other aspects of market analysis. Fundamental and sentimental analysis there for a reason, we have to check each part obviously before taking into consideration the final result that affects our trades or predictions. ADA SOL and other promising altcoins will gain back the market share lost in the bear session, we have to use the right timing and avoid the leverage for harvesting our profit in Bullrun. Institutional organizations take care of low market prices while new investors keep pushing their market analysis skills, just learn to swim with market trends.

In the cryptocurrency market, technical analysis does not work in the long term. However, in short moments, it can often be very accurate. Hopefully the calculations about oversold market will work out (which is happening right now, as long as it's not a bull trap), otherwise we'll have another very long bear market.

Scripture

full member

Activity: 1303

Merit: 128

Quote from: seleme on February 06, 2022, 04:42:09 PM

Oversold according to technical analysis, we can't ignore the other aspects of market analysis. Fundamental and sentimental analysis there for a reason, we have to check each part obviously before taking into consideration the final result that affects our trades or predictions. ADA SOL and other promising altcoins will gain back the market share lost in the bear session, we have to use the right timing and avoid the leverage for harvesting our profit in Bullrun. Institutional organizations take care of low market prices while new investors keep pushing their market analysis skills, just learn to swim with market trends.

This is the reason why the price starts to recover, we are oversold and the next trend for this is to stop selling and start buying, eventually the price will recover. There’s a lot of good altcoins now is already rising, SOL and ADA is a good coin to hold, I also see a great future of holding it. The market is getting better now, lucky to those who bought at the bottom price.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Oversold according to technical analysis, we can't ignore the other aspects of market analysis. Fundamental and sentimental analysis there for a reason, we have to check each part obviously before taking into consideration the final result that affects our trades or predictions. ADA SOL and other promising altcoins will gain back the market share lost in the bear session, we have to use the right timing and avoid the leverage for harvesting our profit in Bullrun. Institutional organizations take care of low market prices while new investors keep pushing their market analysis skills, just learn to swim with market trends.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: QueenVera on February 03, 2022, 11:54:49 AM

Quote from: andyou1234 on February 02, 2022, 12:06:12 PM

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

Those spike are not sign of bulls coming back instead they are just false breakout and it is unbelievable people are still fall for this market manipulation. Of you look at the price of the last bear market, Bitcoin is not oversold yet. Just a year ago Bitcoin was trading around $5000 an now trading above $30,000.

If we are been true to ourselves, the market has more correcting to do before we can begin a new cycle leading to the halving in 2024. Avoid altcoins at the moment as a dip from Bitcoin can send all the coins crashing and you would not want to be holding them when that happens

The difference now is that we have institutional investors, so it is unlikely that we are going to see the price crashing as much as it did in the past since they will protect their investment by buying more bitcoin, however while the growth we have seen during the last few days is welcome I agree with you that this does not imply that the bulls are back, and the price of bitcoin has high chances of remaining close to the current levels for a very long time.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: QueenVera on February 03, 2022, 11:54:49 AM

Quote from: andyou1234 on February 02, 2022, 12:06:12 PM

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

Those spike are not sign of bulls coming back instead they are just false breakout and it is unbelievable people are still fall for this market manipulation. Of you look at the price of the last bear market, Bitcoin is not oversold yet. Just a year ago Bitcoin was trading around $5000 an now trading above $30,000.

If we are been true to ourselves, the market has more correcting to do before we can begin a new cycle leading to the halving in 2024. Avoid altcoins at the moment as a dip from Bitcoin can send all the coins crashing and you would not want to be holding them when that happens

Yup, that's in the year 2020, we may never buy bitcoin at 5k$ again. I don't think it's likely we can comeback at 5k$.
This is a good correction before the next bitcoin cycle. Eliminate weak hands and non crypto believers who only want to earn profit.

I think a lot of new people have come out of crypto, this is a good sign to be ready

lixer

hero member

Activity: 2688

Merit: 588

Quote from: ?? on ??

Quote from: andyou1234 on February 02, 2022, 12:06:12 PM

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

It would be great if the Bear market could end soon this month because there are many people who are waiting for the price increase of all the coins that are already in the market even though things that involve speculation are still happening today.

Like they always say patience is the best quality to have in cryptos if you want to succeed. I am not hating you or anybody but why you guys cant seem to wait? Why you want the bear market to end as much as possible ? jut because you want to sell your coins? But, why not have more patience. Sure it is not easy but hard things are always rewarding.

Rewarding because when you hodl your coins a little longer, you are qualified for more all time high's. All time highs do not come often so do not miss the chance. On the other hand, there are people that have not entered yet or people that are not done yet buying for some reasons and I think they are also wishing that the bear can last a little longer.

QueenVera

hero member

Activity: 1106

Merit: 570

Quote from: andyou1234 on February 02, 2022, 12:06:12 PM

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

Those spike are not sign of bulls coming back instead they are just false breakout and it is unbelievable people are still fall for this market manipulation. Of you look at the price of the last bear market, Bitcoin is not oversold yet. Just a year ago Bitcoin was trading around $5000 an now trading above $30,000.

If we are been true to ourselves, the market has more correcting to do before we can begin a new cycle leading to the halving in 2024. Avoid altcoins at the moment as a dip from Bitcoin can send all the coins crashing and you would not want to be holding them when that happens

redwine49

full member

Activity: 1078

Merit: 111

Quote from: ethereumhunter on February 03, 2022, 12:05:12 AM

Quote from: redwine49 on February 02, 2022, 09:36:58 AM

Quote from: ethereumhunter on February 02, 2022, 12:17:16 AM

Quote from: redwine49 on February 01, 2022, 09:04:17 PM

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

Yes, it is a small correction but the down is nearly half the last highest price. It is a bear trend, but it still makes us survive and the market has moved well so far. But we should calm down in any situation, no matter if the market is in a bear or bull market, because that is our way to use every moment for our advantage. If people believe that this moment is the bear market, they should buy back more bitcoin because the price reaches the low price level and hold it for some time. Or they can also have the opportunity to buy low and sell high so we can continue to profit from the current situation. That is how we should act based on the situations.

Base on the chart i'm not sure if this is a bear trend. We are still in a position in may and july last year and manage to reach new all time high.
Maybe they should buy like you said so we can survive and turn this market into nightmare if bitcoin price can't hold 30k $ price level.

Even if the price is down to $30k, we need to survive and not easily sell our bitcoin if we are not in urgent situations. But we can buy more if somehow, the price is down until that lower price because we may not see that price again in the future. This day bitcoin still goes down and back to $36k and I am not sure if it will bounce up so soon. Maybe we need to calm down for a moment and leave the market because the fluctuation is becoming high.

Of course unless we want to speculate whether we can buy back below the price.
I think the market will be healthier if shitcoin is eliminated from the crypto economy which in fact there are still many of them here.

Quote from: rodskee on February 03, 2022, 12:40:53 AM

So best to Invest now and take this advantage , because if the price starts to climb high then you will regret this actions.

That's right, there are many different things between speculation and investment.
Based on time
Speculation means short term profit
Investment means long term profit
However it depends on each person which one they want to choose, you can't force people to do what they don't want

rodskee

full member

Activity: 2520

Merit: 204

Quote from: Xinarae* on February 03, 2022, 12:10:30 AM

You have to wait patiently to see the right stage of the market no one can guarantee when the market will not be stable.

if you really understand Crypto then you must understand that this will never fill stabling because this is a volatile market and price will move here and there, in which will prove how we must be aware of the situation.

Quote

The price of currencies goes up but goes down if you research the market well and keep the right currency you will make a profit.

that is Buying and selling meaning the riskiest crypto investing.

Quote

Even if the market is down now the bull run will come if you make a long term investment you will see the highest level of the market.

So best to Invest now and take this advantage , because if the price starts to climb high then you will regret this actions.

Xinarae*

sr. member

Activity: 1414

Merit: 326

You have to wait patiently to see the right stage of the market no one can guarantee when the market will not be stable. The price of currencies goes up but goes down if you research the market well and keep the right currency you will make a profit. Even if the market is down now the bull run will come if you make a long term investment you will see the highest level of the market.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: redwine49 on February 02, 2022, 09:36:58 AM

Quote from: ethereumhunter on February 02, 2022, 12:17:16 AM

Quote from: redwine49 on February 01, 2022, 09:04:17 PM

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

Yes, it is a small correction but the down is nearly half the last highest price. It is a bear trend, but it still makes us survive and the market has moved well so far. But we should calm down in any situation, no matter if the market is in a bear or bull market, because that is our way to use every moment for our advantage. If people believe that this moment is the bear market, they should buy back more bitcoin because the price reaches the low price level and hold it for some time. Or they can also have the opportunity to buy low and sell high so we can continue to profit from the current situation. That is how we should act based on the situations.

Base on the chart i'm not sure if this is a bear trend. We are still in a position in may and july last year and manage to reach new all time high.
Maybe they should buy like you said so we can survive and turn this market into nightmare if bitcoin price can't hold 30k $ price level.

Even if the price is down to $30k, we need to survive and not easily sell our bitcoin if we are not in urgent situations. But we can buy more if somehow, the price is down until that lower price because we may not see that price again in the future. This day bitcoin still goes down and back to $36k and I am not sure if it will bounce up so soon. Maybe we need to calm down for a moment and leave the market because the fluctuation is becoming high.

senyorito123

hero member

Activity: 1764

Merit: 505

#SWGT PRE-SALE IS LIVE

Quote from: andyou1234 on February 02, 2022, 12:06:12 PM

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

Maybe it will return at a most surprising time, but as we all hope that it will soon beat what the bear had been through are we that brave to withstand? We couldn't have an assurance to survive in the long run. So while we're still have the motivation to continue, don't shorten your patience this time; ultimate test should be experienced by everybody.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: crwth on February 02, 2022, 12:33:13 AM

Since it's oversold, I think it's a great way to buy more from it. I think it's best to approach it incrementally with you max budget per trade so that you can be safe with your investments and it will be okay with you if the value decreases for a moment but as long as you keep on being consistent on buying the coin that you want, I think it's going to be a good thing in the long run.

This is the right move but how many people are going to have the guts to do so when the market is not showing any signs that it will skyrocket soon? This kind of move requires someone that is complete convinced about what he is doing and to not be afraid in the case we see yet another correction, and while the requisites to do something like this seem to be on the low side the number of people that can actually do something like this is very low.

andyou1234

full member

Activity: 1025

Merit: 100

PredX - AI-Powered Prediction Market

indeed the market seems to have reached oversold levels, but even so the market is still unpredictable and no one knows when there will be massive increases and decreases. but if you look at the market movements that have occurred in the last few days, it is very likely that crypto will return to the bullrun track, and is a sign that the bear market is coming to an end.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: ethereumhunter on February 02, 2022, 12:17:16 AM

Quote from: redwine49 on February 01, 2022, 09:04:17 PM

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

Yes, it is a small correction but the down is nearly half the last highest price. It is a bear trend, but it still makes us survive and the market has moved well so far. But we should calm down in any situation, no matter if the market is in a bear or bull market, because that is our way to use every moment for our advantage. If people believe that this moment is the bear market, they should buy back more bitcoin because the price reaches the low price level and hold it for some time. Or they can also have the opportunity to buy low and sell high so we can continue to profit from the current situation. That is how we should act based on the situations.

Base on the chart i'm not sure if this is a bear trend. We are still in a position in may and july last year and manage to reach new all time high.
Maybe they should buy like you said so we can survive and turn this market into nightmare if bitcoin price can't hold 30k $ price level.

Quote from: crwth on February 02, 2022, 12:33:13 AM

Since it's oversold, I think it's a great way to buy more from it. I think it's best to approach it incrementally with you max budget per trade so that you can be safe with your investments and it will be okay with you if the value decreases for a moment but as long as you keep on being consistent on buying the coin that you want, I think it's going to be a good thing in the long run.

Just started buying some top altcoin. Only a small amount, just in case if bitcoin still hold this critical level.

Quote from: ?? on ??

it dropped to 34K in the previous week, if someone figured it's oversold, they've already bought and profit more already today. i felt like i have lost an opportunity last week. i couldn't say if it will go up continuously or will it still go $34k again. indicators are still unsure though. analysis of other traders agrees that 34k is the bottom, the other says its not. one thing is for sure. stablecoin.

Stablecoin? What do you want to tell us?

electronicash

legendary

Activity: 3178

Merit: 1054

Quote from: ?? on ??

Yes, crypto has gone very low and so have the other markets. There is a possibility of correction very soon because it fell quickly. It is a good time I think if somebody wants to buy crypto.

it dropped to 34K in the previous week, if someone figured it's oversold, they've already bought and profit more already today. i felt like i have lost an opportunity last week. i couldn't say if it will go up continuously or will it still go $34k again. indicators are still unsure though. analysis of other traders agrees that 34k is the bottom, the other says its not. one thing is for sure. stablecoin.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

Since it's oversold, I think it's a great way to buy more from it. I think it's best to approach it incrementally with you max budget per trade so that you can be safe with your investments and it will be okay with you if the value decreases for a moment but as long as you keep on being consistent on buying the coin that you want, I think it's going to be a good thing in the long run.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: redwine49 on February 01, 2022, 09:04:17 PM

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

Yes, it is a small correction but the down is nearly half the last highest price. It is a bear trend, but it still makes us survive and the market has moved well so far. But we should calm down in any situation, no matter if the market is in a bear or bull market, because that is our way to use every moment for our advantage. If people believe that this moment is the bear market, they should buy back more bitcoin because the price reaches the low price level and hold it for some time. Or they can also have the opportunity to buy low and sell high so we can continue to profit from the current situation. That is how we should act based on the situations.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: TinaK on January 30, 2022, 04:43:28 PM

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

Based on your comments, it should be a bear trend not a "bull trend"

Quote from: Silberman on January 30, 2022, 05:30:46 PM

Quote from: bittraffic on January 28, 2022, 12:13:34 PM

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It is going to be interesting to see what happens with those regulations, after all the US is already over-regulating bitcoin and now they want to increase the regulations? It seems they think they can kill the interest in bitcoin by forcing people to go through a lot of trouble in order to use and hold bitcoin, but this is not the case, people are simply going to ignore whatever the government says if the regulations are too strict and it is impossible to comply with them.

Actually they just want to spy on us. About how much money you have, where they come from and how you can get that money.
In the end how much do you have to pay your taxes?
Cheesy

Quote from: aruldaroy on January 30, 2022, 09:25:37 PM

Trust me bitcoin will not go down again
Bitcoin will quickly reverse direction.
Because judging from the crypto winter has arrived,
with bitcoin's weakness nearly 40% from its all-time high of $69,000.
Because there are some analysts also say that the correction in the crypto market is predicted to be likely to end as soon as possible in early February.

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

YinShuiSiYuan

hero member

Activity: 1680

Merit: 505

The assessment that the market is oversold comes from technical analysis, which has no long-term use in the cryptocurrency market. I agree that some psychological behaviors coincide with the patterns of technical analysis in the short term, but when it comes to the current situation on the cryptocurrency market, I am sure that none of the predictions will come true. Unless it's done the day, or two before.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: LUCKMCFLY on January 31, 2022, 02:05:21 AM

Quote from: bittraffic on January 26, 2022, 06:44:31 PM

Quote from: AakZaki on January 26, 2022, 12:53:29 PM

Quote from: Upgrade00 on January 25, 2022, 12:37:34 PM

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

And it totally messed up the S2F model, Lol, predicting $100k that didn't happened in December. Nevertheless, there is still high hopes that the price could go and reach 6 digits.

However, I don't think it's possible this year or the next couple of years. We are already in a bear market, so most likely the price will have a hard time to bounce back. And on the opposite, we are talking about hitting all time lows again, somewhere in the vicinity of $20k.

Cryptock

hero member

Activity: 1792

Merit: 507

Quote from: LUCKMCFLY on January 31, 2022, 02:05:21 AM

Quote from: bittraffic on January 26, 2022, 06:44:31 PM

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

Of course, any scenario is possible. Remembering what happened in 2018, a drop in price to $20k would not be a big surprise to me. However, we must realize that Bitcoin's popularity has grown enormously in the last 2 years. This means that there are many more hodlers on the market today than there were 3 years ago. I think that if the price continues to drope, it will be rather slightly. I expect, like you, a strong and sharp upward boom in prices.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: bittraffic on January 26, 2022, 06:44:31 PM

Quote from: AakZaki on January 26, 2022, 12:53:29 PM

Quote from: Upgrade00 on January 25, 2022, 12:37:34 PM

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

bitgov

sr. member

Activity: 1554

Merit: 260

Given today's RSI indicator, it looks like the cryptocurrency market is oversold. However, the RSI indicator can be wrong and even change, so in fact, with such large fluctuations in price, it tells us nothing. In my opinion, the trend should return to positive, but in fact anything can happen.

aruldaroy

full member

Activity: 686

Merit: 100

Quote from: TinaK on January 30, 2022, 04:43:28 PM

Quote from: Porfirii on January 30, 2022, 03:27:07 PM

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

Trust me bitcoin will not go down again
Bitcoin will quickly reverse direction.
Because judging from the crypto winter has arrived,
with bitcoin's weakness nearly 40% from its all-time high of $69,000.
Because there are some analysts also say that the correction in the crypto market is predicted to be likely to end as soon as possible in early February.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: bittraffic on January 28, 2022, 12:13:34 PM

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It is going to be interesting to see what happens with those regulations, after all the US is already over-regulating bitcoin and now they want to increase the regulations? It seems they think they can kill the interest in bitcoin by forcing people to go through a lot of trouble in order to use and hold bitcoin, but this is not the case, people are simply going to ignore whatever the government says if the regulations are too strict and it is impossible to comply with them.

TinaK

hero member

Activity: 1106

Merit: 527

Quote from: Porfirii on January 30, 2022, 03:27:07 PM

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

crzy

full member

Activity: 2128

Merit: 180

Quote from: Porfirii on January 30, 2022, 03:27:07 PM

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

Recovery will start to begin if the OP is correct about oversold we already saw some small pump though many say its a bull trap, but we stay longer on that level so maybe its not a trap at all. We’ve been hoping for the price to recover again, Next month will be a crucial month let’s wait and see to confirm this analysis.

Porfirii

legendary

Activity: 1932

Merit: 2354

The Alliance Of Bitcointalk Translators - ENG>SPA

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: sana54210 on January 28, 2022, 12:00:53 PM

You could split your investments? If you have some money, even if as little as $100, then you can put 3 orders in to make sure that you do not miss out on the future profit chances. One at right now, buy 50% of it right now, then the other two is at 38k and 34k, that way if it goes down then you DCA your entry point, if it goes up then you do not miss making more profit. That is the method I could think right now, but I am sure that there must be some smarter people out there who can figure out a better method. I just wanted to say that you do not have to just "either buy right now or wait until it drops more", that can't be the only two options, there must be some more.

If we talk about buy orders with $100, you can split many parts with small order buy. For example, you can create an order buy for $10 (for testing the market). If the market goes down by 10%, you can buy back with $20-$30 and wait. If the market goes up by 10%, you can sell it or still buy.

But I bet not many people want to sell their coins when the price is up for 10% instead of buying back at that price. If you sell your coin at the 10% up price, the price can go down and make another correction so that you can buy back again with your first order.

Yes, there must be more strategies you can do, which depends on yourself. That is just a small example and I am sure they will figure out which strategies will work for them by practicing.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: bittraffic on January 28, 2022, 12:13:34 PM

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It's almost the end of the month, the monthly bitcoin candle not yet close. Traders still have time which side they want to ride, the bull or the bear.
The bull are trying to get above 45k $ mark and if we close at 45k $ by the end of this month, it will be fantastic.
And the bear want to take us down to 30k $. If we close above 37,5k $ in this month, their next target is to reach 30k $ in february

molsewid

hero member

Activity: 2170

Merit: 530

Quote from: bittraffic on January 28, 2022, 12:13:34 PM

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

Thanks for sharing this news bud, I am not aware about this though yeah it may sound like a fud later but who knows right this is a good news to be honest. But maybe you can provide some news link here so probably we can read it and see it through our own eyes so we may assess the legitimacy of the news. But yeah, for sure I'll do the same thing too if this kind of news didn't make any price movement of bitcoin improve then I'll start buying back also.

bittraffic

hero member

Activity: 3038

Merit: 617

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: michellee on January 28, 2022, 09:28:47 AM

I think you should wait for a while as the red candle is coming again to the market and there is no need to buy in a rush. Maybe you can analyze for more to check if the price will go down for deep or stay at the current price level. If the next analysis shows the pattern to go down for more, you can prepare your funds at the exchange to start buying but you can create many buy orders. Hopefully, we can buy at a low price in the next correction to make a profit in the next pump market.

You could split your investments? If you have some money, even if as little as $100, then you can put 3 orders in to make sure that you do not miss out on the future profit chances. One at right now, buy 50% of it right now, then the other two is at 38k and 34k, that way if it goes down then you DCA your entry point, if it goes up then you do not miss making more profit. That is the method I could think right now, but I am sure that there must be some smarter people out there who can figure out a better method. I just wanted to say that you do not have to just "either buy right now or wait until it drops more", that can't be the only two options, there must be some more.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: usekevin on January 28, 2022, 05:36:03 AM

Quote from: asyakashi on January 26, 2022, 02:05:32 AM

When oversold it will usually come back down but up to do a bullish test but I don't think there is a strong wall if the RSI says oversold. Maybe we should wait for bitcoin to go down even more?

The market is crashed for now.The best time to inverse your money is now. When the price back to normal as like old 40k dollars.You get decent profit from it.Holding is essential one in trading business.Some people inverse less amount of dollars in the dump and earn huge from it. The price of bitcoin plays a huge role.The pump market is the best time to inverse for the short run and dump is best time for long run profit.

I think you should wait for a while as the red candle is coming again to the market and there is no need to buy in a rush. Maybe you can analyze for more to check if the price will go down for deep or stay at the current price level. If the next analysis shows the pattern to go down for more, you can prepare your funds at the exchange to start buying but you can create many buy orders. Hopefully, we can buy at a low price in the next correction to make a profit in the next pump market.

redwine49

full member

Activity: 1078

Merit: 111

Quote from: mk4 on January 25, 2022, 11:48:06 AM

P.S. if you want a trader's technical perspective, you should've posted this on the Trading Discussion section instead lol.

I agree. if we want to keep more discussion about the price

Quote from: franky1 on January 25, 2022, 06:22:27 AM

the crypto market has not lost any capitalisation..
the market caps are not a measure of fiat reserves held to back any asset. its just a multiplication of a current price.

2 people can easily affect this.
heck i can make an altcoin of 1trillion coins and sell just 1 coin for $1 and create $1trillion market cap.

no one cares about market cap numbers. they are meaningless.

..
there is no 'over sold' because again it has nothing to do with accumulated sales that meet some big number of sells. its just a single price multiplied.

so chill out and relax, there was no loss, there was no over selling.
the market cap stat is not a stat of value. its a empty stat of multiplication

right now there are traders that only need to buy/sell 0.01btc ($350) and can cause a shift the price by $3 which thrn multiplies the math to shift the market cap of bitcoin by $57million

yep someone can affect bitcoins market cap by $57million by only spending $350

I am not saying you are wrong in this.
But actually I care about marketcap numbers to calculate my own risk when I want to decide to buy/sell cryptocurrency.
Not because 1 trillion coins worth 1$ each coin/token, it will be 1 trillion$ in reserve. The price will drop as every coin is sold out.
I know what you said but that doesn't mean they are meaningless.
Like you said "it's multiplication". If someone wants to lower the bitcoin price by 50%, they don't have to own&sell 50% of bitcoins in circulation.
Therefore the risk of losing will be greater because of multiples.

usekevin

hero member

Activity: 2324

Merit: 562

DGbet.fun - Crypto Sportsbook

Quote from: asyakashi on January 26, 2022, 02:05:32 AM

When oversold it will usually come back down but up to do a bullish test but I don't think there is a strong wall if the RSI says oversold. Maybe we should wait for bitcoin to go down even more?

The market is crashed for now.The best time to inverse your money is now. When the price back to normal as like old 40k dollars.You get decent profit from it.Holding is essential one in trading business.Some people inverse less amount of dollars in the dump and earn huge from it. The price of bitcoin plays a huge role.The pump market is the best time to inverse for the short run and dump is best time for long run profit.

coolcoinz

legendary

Activity: 2814

Merit: 1192

I'd just like to add for people who rely on the RSI that it's a strength index. This means that a company that is going bankrupt will have low RSI, showing that it's oversold, but the process is going to continue until the stock disappears from exchanges and is no longer traded. In other words, a dying asset will also be oversold.

I'm not trying to discourage you, simply playing a devil's advocate, but don't forget that indexes and indicators are not going to tell you what to do. The fact that Bitcoin has never done this or that doesn't mean it won't.

bittraffic

hero member

Activity: 3038

Merit: 617

Quote from: AakZaki on January 26, 2022, 12:53:29 PM

Quote from: Upgrade00 on January 25, 2022, 12:37:34 PM

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

Quote from: Upgrade00 on January 25, 2022, 12:37:34 PM

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

asyakashi

sr. member

Activity: 1918

Merit: 256

Just.bet - Decentralized On-chain Casino

When oversold it will usually come back down but up to do a bullish test but I don't think there is a strong wall if the RSI says oversold. Maybe we should wait for bitcoin to go down even more?

dimonstration

hero member

Activity: 2716

Merit: 698

Dimon69

Quote from: 7deadlyBTCIN on January 26, 2022, 01:50:34 AM

Stop deceiving yourselves, this market corrections is a necessity no matter what your indicator is telling you, both oversold levels and greed&fear index are useless, pls just accept things the way they are this bull season have lasted for way too long

I don't why you come up on this aggressive comment but he just simply interpret what indicators are showing. RSI is know for its effectiveness since this indicator introduced since it just measure the ratio of sell to buy power. He is right that the market is already oversold according to RSI indicators which I agree. Indicators is just a tool to determine the pulse of price action in trading so I guess the content of this thread still has a value. Don't take it personally its just a reading from indicators.

7deadlyBTCIN

member

Activity: 120

Merit: 15

Stop deceiving yourselves, this market corrections is a necessity no matter what your indicator is telling you, both oversold levels and greed&fear index are useless, pls just accept things the way they are this bull season have lasted for way too long

magneto

hero member

Activity: 1666

Merit: 753

These indicators mean pretty much nothing.

This correction is absolutely normal and you cannot say that it is manipulation or artificial. Prices were propped up by low interest rates and an irrational exuberance, and now people are paying the price. The correction was imminent.

This draw-down isn't even close to the scale that we have witnessed in previous bear markets, so I would actually expect a bit more dumps to come our way before a pump.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Oversold or not. I believe its not only the TA we shoukd be concern of. Some of the fundamental aspect affects the market a lot. Also some heavy thoughts by some big names influence the whole market like some coutnry annoucned a very positive news. Regardless were on the negative pattern, it could turn the way around on that. Precisely this is very a broad event but honestly I feel like a bounce would happened anytime soon.

takngantuk

full member

Activity: 1024

Merit: 100

oversold? yes we are currently in this situation. whether it will end, judging from the current chart which is green, maybe many think this situation is over. but I think it's not that easy to conclude. there are many possibilities such as bulltrap, fakesignal or others that can describe the current situation. and if that happens, oversold may continue to occur until the market finds the lowest bottom point later.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Quote from: Bushdark on January 25, 2022, 05:36:50 AM

NFrom a technical perspective, it’s important to note that the Relative Strength Index (RSI), which is commonly used to gauge the magnitude of recent price changes to evaluate market conditions, is down to the oversold area.

Indicators don't predict the future well enough to base your trades and expectations on them alone. If this is the bear market and it will play out like the previous ones, then the market didn't reach the bottom yet, and bulls won't return until the next halving. But since the current ATH is only 3.5 times higher than the top of the previous cycle, maybe there's good chance that the old pattern has been broken, so anything is possible right now.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

This kind of posts will only increase panic selling and fear, I know the market has been bearish but not oversold and we only come across these sort of post after the market is dumped or goes through correction phase and why don't we have these before any major pump or dump? Ups and downs has been a part of crypto market and we should get used to it instead of panic selling or buying in FOMO.

Ararbermas

sr. member

Activity: 2016

Merit: 283

If you're just basing in RSI indicator of course it is and i wouldn't be surprised why because for me in my personal opinion it's already over sold mate since this downtrend broke thus resistance above. Just imagine from approximately 60k and down around 37k seems almost half. Lol and probably there's more support levels if weak hands keep dumping despite of the current situation of the market wherein it will be a totally over sold market.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

Quote from: Bushdark on January 25, 2022, 05:36:50 AM

What do you think about the market currently?

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

bittraffic

hero member

Activity: 3038

Merit: 617

Frank tells.a good point about market cap because anyone can just set a buy/sell order price in the market.

As for oversold, It depend on which TF you looknat the market, one trader could just say its RSI tells oversold in 4hour chart but its not on daily chart. Its not as if you cant buy today, its still good to do so if you are a trader and knows when to keep buying and selling but for long term investors, they will not zoom in to look at the market but zoom out to weekly/monthly TF to identify when to buy with the future uptrend in mind.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

On being oversold: I mean, we literally had weeks and weeks of red, with a somewhat-faster-than-usual drop of almost 50% without a blow-off top. But regardless, bitcoin being oversold doesn't automatically mean it can't get oversold further; though we're probably due for a relief bounce to a certain point.

P.S. if you want a trader's technical perspective, you should've posted this on the Trading Discussion section instead lol.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

If we're as oversold as we were back in March 2020, I think that says something pretty good about where we're at right now.

The price back then was $3k, now we're at $30k, sure oversold/the rsi might not mean much on its own but it's interesting to see where bitcoins come in 2 years. It's had fairly stable highs too which means there's probably still a lot of confidence in it (even during drops).

franky1

legendary

Activity: 4410

Merit: 4766

the crypto market has not lost any capitalisation..
the market caps are not a measure of fiat reserves held to back any asset. its just a multiplication of a current price.

2 people can easily affect this.
heck i can make an altcoin of 1trillion coins and sell just 1 coin for $1 and create $1trillion market cap.

no one cares about market cap numbers. they are meaningless.

..
there is no 'over sold' because again it has nothing to do with accumulated sales that meet some big number of sells. its just a single price multiplied.

so chill out and relax, there was no loss, there was no over selling.
the market cap stat is not a stat of value. its a empty stat of multiplication

right now there are traders that only need to buy/sell 0.01btc ($350) and can cause a shift the price by $3 which thrn multiplies the math to shift the market cap of bitcoin by $57million

yep someone can affect bitcoins market cap by $57million by only spending $350

Bushdark

sr. member

Activity: 1008

Merit: 262

Vave.com - Crypto Casino

The cryptocurrency market lost over $400 billion worth of its capitalization in the past few days alone. The total market cap currently sits below $1.7 trillion. This came as most of the coins are down tremendously in the past week. Ethereum is down 27.7%, BNB is down 27.8%, ADA is down 17.6, SOL is down 36.2%, and so forth. Bitcoin’s price is currently sitting around $35K and has lost almost 20% in the same time frame.

NFrom a technical perspective, it’s important to note that the Relative Strength Index (RSI), which is commonly used to gauge the magnitude of recent price changes to evaluate market conditions, is down to the oversold area. An interesting thing to consider is the fact that the RSI hasn’t been so oversold since the COVID crash that took place back in March 2020.
Speaking of market sentiment, it appears that we’re in a state of extreme fear, according to the popular Fear and Greed Index.
What do you think about the market currently?

https://cryptopotato.com/bitcoins-rsi-is-now-at-the-most-oversold-level-since-the-march-2020-covid-crash/

Topic: The market is at the most oversold level (Read 517 times)