Bitcoin Forum

the last weekly candle was successfully pulled back above the support but now again on the verge to break the new S1. If it breaks then we may see downside towards S2 and S3.

In markets like stock market, commodity market and latest addition our crypto market always have the tendencies of price fluctuations.  The markets move in circles.  Some times it will be touching heights it is called bull trend.  On the other hand when prices fall it is called bear trend.  So the market prices always move upward or downwards.
There are two types of investors in the markets.  One are big investors generally who are the drivers of the markets.   Whenever they desire they will throw huge funds into the markets creating huge demand for the instruments and ultimately rise in prices.  Following them small investors will start buying even at higher rates too.  When the prices are at the peak,  big investors will stop investing and will start withdrawing / selling.  As a result the markets falls it will be called bear market. The big investors already sold their major investments to small investors at high rates which they bought at lower prices.  So they already earned a lot.
So presently market is being driven by bear trend.
Mostly small investor is the  loser. 

Not seen a hammer in weeks, cup and source is what I am seeing and I remember the old saying about "Let the trend be your friend" 
but what would I know after I was forced to sell out (Take profit) my so called weak hand when BTC was last at $18k and all I could
hear around here was "Buy on the dip-stick" ?

Greedy miners and fees hitting $55 is the elephant in the room and it's not going away, has a long memory and when the bear
see it then it will be running for cover to save it's life.

oh do view my posts, go back a few months just in case you're thinking that I just pulled this out my bum  :D

Obviously, the bears has been taking over control of the market in the last 90 days. I can see that we have double bottom as well so every major resistance have been broken so far so we don't know if we have reach the bottom or the month of April will signify a shift in the trend. Which such volatility we really don't know what's going to happen. Of course everyone here is positive that we can still bounce back, but if this is not the case then we should all be ready either to buy more or still hold and wait for a rally to at least more than $10K.

Its true that the price is pretty low and the situation is like this for some months. But price fall is nothing new in market. Occurred a few time earlier and got recovered successfully. This time some fake news, speculations along with ads ban and Government’s confusion regarding regulations played role, so the recovery is taking a bit longer time. Still, I believe the market is gonna bounce pretty soon.

It's okay that the bears are tearing up the market and everyone (including noobs) is noting it and getting afraid that crypto collapse is imminent. This sign is good. Now, we got to believe that cryptocurrency isn't a sham. It is subject to the forces of the market economics so that when the bulls eventually come to play noobs won't start screaming "bubble bubble" again.

They will scream, "Bubble Bubble" no matter what happens in the market, because they are clueless about how Bitcoin works. I am just worried that the majority of the market, now consist of mostly speculators and that the old strong hands will be pulled down into the cesspool of negativity.

It is so easy to get bogged down into this cesspool of newbie negativity, if you forget why you got into this technology in the first place. A lot of the old hands did not buy into this for the huge profits, but rather for what Bitcoin stands for, namely Financial Freedom.