Topic: Which way will it go? Which trend will it follow? - page 2. (Read 718 times)
we had a nice upward momentum for about 2 months that brought bitcoin up more than 150% but it slowed down. not that it has not disappeared or stopped entirely. it just slowed down for a while with the correction of that huge rise because although it was coming out of the big manipulated dump but still the rise was huge. so the way we go is going to be the same upward movement as before only with a small delay. as you can see today we are witnessing another example of that strong movement.
It is obviously going up. The main reason for bitcoin to go up right now is that there are more people who believe bitcoin will go up, its a paradox I know but that is how bitcoin works. The more people think bitcoin will go up the more bitcoin goes up, its all in our heads and the more we buy because of the potential profit, the more we profit as well. It is a weird system and totally unheard of anywhere else in the world but its still our system so I love it.
Normally, in any other economy like the fiat has with banks they do whatever they want, they don't care if something is falling they can still profit from it and they literally bet on stuff that is going down to go up like crazy people and when they are wrong they get payments from governments to fix their own problems.
Normally, in any other economy like the fiat has with banks they do whatever they want, they don't care if something is falling they can still profit from it and they literally bet on stuff that is going down to go up like crazy people and when they are wrong they get payments from governments to fix their own problems.
Currently eyeing a potential rising wedge on the 4H, but I'm still leaning bullish for the short to mid-term.
Bitcoin loves to break up from bearish (rising) wedges. The same way it often bucks bearish head-and-shoulder setups. With today's daily candle, bulls are retaking the 20-day MA with authority. I'm pretty sure we're heading back to retest $9,100 and beyond.
Currently eyeing a potential rising wedge on the 4H, but I'm still leaning bullish for the short to mid-term.
Seems like we've broken out upwards pretty violently from the rising wedge I just drew a few hours ago. Things still look good for the bulls, we wicked just a bit short of $8700 on Bitmex from what I can see. There is still some more potential upside to this movement IMO. Still holding the long I entered from a few hours ago, might go into the sidelines after I exit. Trying not to FOMO too hard at the moment more than anything.
Currently eyeing a potential rising wedge on the 4H, but I'm still leaning bullish for the short to mid-term. Dips are once again being bought up pretty readily and the 4H MMAR also shows we're currently in an uptrend. Looking good so far, closed out an old long and reopened a new one in the $8300s with a somewhat tight stop behind it. We may be revisiting the high $8000s in the next few days.
The upper side looks a lot more promising right now. 3 days ago bitcoin was about 7900ish or so than 2 days ago it was about 8100ish and than yesterday it was around 8180 or whatever and today it is above 8400, if it is above 8300 tomorrow then I am definitely going to believe that bitcoin is going up, when it is moving small by small like this it means that the buyers are buying more bitcoins at these prices than the sellers are willing to sell at these prices which makes it go up and shows that seller side is weaker than the buyer side.
However, it can change a lot with one big hype, if someone sells bitcoins and creates panic than sellers can surpass buyers however if we have a rally and buy bitcoin a lot than the buyers are already stronger which will result with bitcoin going over 10k easily.
However, it can change a lot with one big hype, if someone sells bitcoins and creates panic than sellers can surpass buyers however if we have a rally and buy bitcoin a lot than the buyers are already stronger which will result with bitcoin going over 10k easily.
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The market is moving towards upward direction no doubt and it may take a little longer for the market to return back to around $7,500. I wonder why some people who don't good Knowledge of technical analysis are just making comments that it will go on a decline trend.
I guess that the price won't back to $7,500 in the next day because I see the sign to increase is there. You can see the image below, and I think it will rise more and break $8,500. That is what I see on poloniex but I don't check what is going on in binance and bittrex.
But that will turn to go down of the trend if there is a bad news release in out there and it pushes bitcoin price to go down and make another correction of the price.
It was obvious that after the sharp increase in the market cap and especially in Bitcoin's price we are going to face a Bear June.
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
Nothing is obvious. I expected bear May or April, but it did not happened.
Either thing happens is all right. It cant go just up or just down. But to expect if one year March had this that then all other March had same is silly. Bitcoin cycle is 4 years long. Halving is approximately every 4 years and that is one Bitcoin cycle that then keep repeating itself. Right now we are around end of 2015.
It's not an easy to predict the price.
The upper trend will continue to rise.
I have remembered the craze when btc was 20k USD.
Hope this time it will too rise into the same price.
At this point of time btc is 8k usd.
This will surely continue to rise.
The upper trend will continue to rise.
I have remembered the craze when btc was 20k USD.
Hope this time it will too rise into the same price.
At this point of time btc is 8k usd.
This will surely continue to rise.
the two primary possibilities i'm looking at:
-retracement to mid-$8000s (dead cat bounce) then another leg down to $6500-$7000.
-slowly grind upwards until bears start to panic buy. new highs make for an easy push to $10k. above $8750 or so and things should get pretty frothy again.
needless to say, i'm expecting the $8500-$8700 area to be a real battleground. i'm leaning towards the second scenario but a lot of traders i respect are bearish. i'm on the sidelines right now, no open trades.
-retracement to mid-$8000s (dead cat bounce) then another leg down to $6500-$7000.
-slowly grind upwards until bears start to panic buy. new highs make for an easy push to $10k. above $8750 or so and things should get pretty frothy again.
needless to say, i'm expecting the $8500-$8700 area to be a real battleground. i'm leaning towards the second scenario but a lot of traders i respect are bearish. i'm on the sidelines right now, no open trades.
I thought the price would stagnate around $8,000. But apparently, for the last few days, it's been slowly making its way up. With a few waves of high and low, which some people like to call volatility.
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me.
At the same time, I know very well that a certain crash is possible (as always)
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me.
At the same time, I know very well that a certain crash is possible (as always) As always.
On my own view Id like to see another calm wave just like 4 months ago, if I am not mistaken .
Somehow I thought it will stay that way but now here we go again. 8k might be the stagnant price so it would be better go until 9k then fall slowly until back to 8k then play there as its new bottom.
It will take away all my fears for a great fall if that happen. I always want it slow and never that jumpy movements.
The market is moving towards upward direction no doubt and it may take a little longer for the market to return back to around $7,500. I wonder why some people who don't good Knowledge of technical analysis are just making comments that it will go on a decline trend.
I thought the price would stagnate around $8,000. But apparently, for the last few days, it's been slowly making its way up. With a few waves of high and low, which some people like to call volatility.
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me. At the same time, I know very well that a certain crash is possible (as always)
As always.! Crash is an inevitable thing and even I do thought on that recent correction of price which do lead down to 7600 would continue.Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me.
At the same time, I know very well that a certain crash is possible (as always) Basing on the image it do forms descending wedge which most likely it break out upwards on technical aspects but as we all know that this market
do really have always that kind of surprise.
I have the feeling that bitcoin price tends to decrease in the summer barely each year then tends to rise especially in November/December. It is not a rule but maybe we will experience a little drop/correction in July/August?
December has proven to be a month where it's better to short/sell Bitcoin and wait a couple of months to buy back lower.
The thing with people expecting a correction is that they think it has to be 30-40% to finally have it be confirmed. It could still be that the price will correct with these numbers, but that might also be well above $10,000 and then bottom out somewhere around $7000-$8000. It's impossible to figure out when this correction will take place.
It feels much better just looking at the price action without having a specific bias. If it goes up I'll benefit and if it goes down I'll benefit too.
I thought the price would stagnate around $8,000. But apparently, for the last few days, it's been slowly making its way up. With a few waves of high and low, which some people like to call volatility.
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me. At the same time, I know very well that a certain crash is possible (as always)
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me.
At the same time, I know very well that a certain crash is possible (as always) 
It was obvious that after the sharp increase in the market cap and especially in Bitcoin's price we are going to face a Bear June.
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
Nothing is obvious. I expected bear May or April, but it did not happened.
The move can happen in any direction, and from the market indication that is posted few days back we've experienced a small down trend and has further experienced a uptrend reaching above $8000. This way the market move is truly unpredictable, at times the trend followed gets away from the market direction.
It was obvious that after the sharp increase in the market cap and especially in Bitcoin's price we are going to face a Bear June.
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
Nothing is obvious. I expected bear May or April, but it did not happened.
It was obvious that after the sharp increase in the market cap and especially in Bitcoin's price we are going to face a Bear June.
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).
If we break the lower bound, then the most probable target is the mid-$6,000s. I’ve noticed this opinion is very common in the Tradingview chat. Sentiment is very bearish there. That could indicate retail traders are net short and about to be squeezed.
Short squeeze it is! Waking up to a $400 green dildo on the hourly chart sure makes for a beautiful morning.
I suspect LTC will lead the way once again, and its upcoming halving should flip the market bullish at any moment.
Yep LTC is already making new highs again, even as Bitcoin consolidates $1,000 below its last high. Such a strong chart! As long as it remains this bullish, its a good sign for the overall crypto market.
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