Bitcoin Forum

The market is going to form a strong trend reversal signal. If the daily candle is closed at the current levels of below, the market will start forming a new swing high. This swing high will be higher than the previous one but RSI and MACD will make new "highs" lower than the previous ones. The price will diverge with the indicators and it will give us a bearish divergence. This is a strong trend reversal pattern which sometimes leads to a new trend in the opposite direction, sometimes it leads to a correction or sideways movements.

I don't think that we will get a new bearish trend , but the bearish divergence gives the additional signal supporting the correction movement from the current levels or 6000.00 resistance zone if the market tries to move higher.

For confirmation the bearish divergence it will be good if the price breaks the local uptrend line. For the confirmation further downward movement, the price will need to break 5000.00 support level .
If we talk about the long term market movement, it stays bullish .

If we check what happened right after the previous golden cross in 2015, there is a huge chance we will see short-term strong decline before going back on bull track.

It is important to remember that even if it is a sign of a bullish trend we still doesn't know how long would this trend last. 2017 won't happen again and with a high chance Bitcoin will not be growing during the whole year just as it has been falling before. It may easily grow back to 10$k and than fall back to 3$k.
The smaller periods are probably not interested to people that are not speculating on BTC.

I agree, but it's hard to predict when and how far that pullback will go. Plus, the chart on this golden cross is a bit more bullish than previous golden crosses. Long term, the golden cross is highly bullish for BTC.

if indeed there is a pullback. I don't think it will reach its lowest point. if it matches my prediction, it will not be lower than 4800. after there will be a reversal. but don't be too happy, even though the graph shows bulls, but it might fall.

i think you are way too late, bitcoin has already formed that strong reversal signal a while ago and the reversal has even started. we are currently 77.5% above the time when the reversal started and about 30% above the price when the "strong" reversal occurred. which is the story of the past couple of months.

You shouldn't care too much about the current and very short term price as new halving will take place in 2020.

Before each of previous halvings price increased significantly.

Yes, the next halving is about a year from now, which is right around the corner. In the short run there could be some selling pressure, but the upward momentum will pick up probably in the latter half of this year. It will be risky to stay short as we approach the halving.

a swing high definitely looks close. i thought the selloff attempt from yesterday might have been it, but it hardly moved after the initial dump. so maybe we'll muster another try up. if we do, it's another great opportunity to take some profit and sell for the correction. i'm pretty confident we'll see much lower prices (low $4ks or high $3ks at least) over the next couple months.

That sounds good to me.

The only thing that makes me somewhat question a strong downward movement is that Tether printed another 300 million units yesterday, which doesn't happen for nothing. They'll either be used to short the crap out of Bitcoin, or buy up whatever sellers will be dumping in their buy orders. In less than a month 800 million units were created, that's some crazy shit.

A retest of the 200wma $3600-$3700 isn't out of the question and would also be a healthy move. Back in 2015 we also found support at that moving average, and that more than once.

Bitcoin currently trading between $5.5 to $5.4K , last hourly candle end with red candle but current candle looking green (Noticed from Binance). I am expecting another pull back before new bounce. The pull back might be $5.3K zone or below. But there is no any indication that bitcoin would go below $5K. So we can expect another strong uptrend within couple of days. Growth of bitcoin looking healthy overall.

this will definitely not be a very good thing, people want to see price increases because this creates more confidence ... even if these price increases are small increases. But price declines only generate panic and drive people away from the crypto world. I remember when the price was $ 3100, many people said that the price would fall to 1000 $ and some people I know were already giving up buying bitcoin in fear that the price would fall to  $1000 and then to  $1 and bitcoin would die.

I think its possible that we might have a one more drop a bit below these prices before we test out the 6000 levels, its quite possible we can do it without going down but going down allows us to buy from lower which makes it even better to go up. Covering the steps that we came here and making sure drops are not as harsh is a way of securing the fall after a failed attempt.

Not that I think it will be a failed attempt but even if it does those little drops back and launching forward makes sure we are still strictly on 5+ thousand dollar levels. I think the 6 thousand levels are not as strong as the 4200 we just passed couple weeks ago but its still going to be a challenge, we have already spent a lot of money coming all the way here so our ammo will be less than before.

Initially, I usually box everyone that predict the downfall of the value of bitcoin to $3k trend, but it came to a point where I see it as what will really be an opportunity for me, then I begging to think that the $3k value might be the major breakout point we have been waiting for, because I can vow that the FOMO around that value will be too much that the price of bitcoin will rapidly grow to $10,000 from the number of buys then.

It is just a sad thing that it isn’t going to happen again, there is nothing I have seen or will see that will ever force the price of bitcoin down again, so let us not be deceived by our predictions, bitcoin is already on the lane to the moon and very soon, the run will happen fast.

I wonder what'll happen now that the NY AG just sued Bitfinex and Tether, alleging fraud. New York is fairly impotent compared to the federal government so this isn't a BTC-e situation.....yet. But it's obviously giving the market some jitters.

It looks like we're seeing a significant premium develop between Bitfinex and the rest of the market now as customers flee the exchange. $5,416 vs. $5,183 as of this moment. I always wonder how this kind of situation will pan out, since a fear-based exodus from Bitfinex/Tether fiat can drive the crypto markets up rather than down.

The future is actually in the warm of time and that is,I think technically we can just predict and it is good we wait until we see the confirmation of those signal in reality.  I think bitcoin do not honor most of the resistance and support level and as such there is a need we start to look at the price actions indicators instead of langing indicators that some of us do used to analyzed the market. 

you have to start having realistic expectations out of the market and the "signals" that you are looking for if you want to actually see any signal before it is already too late. so far a couple of months ago we reached the absolute bottom where all the manipulation and dumps could not break it any lower anymore and from then we have seen a 78% price rise and that is your realistic "string trend reversal signal" which has shown itself and those who are experienced in the market have seen it and have been buying bitcoin more and more specially when we have a dip (correction) like today.

And for now we have not been able to ascertain the actual market trends because the movement is still in a normal state with a slight increase and also a slight decline and not too hasty with it that we still need analysis or by waiting for an extraordinary movement, investment must continue by utilizing very cheap prices and on the verge of being good for the future, don't worry about setbacks and I also don't see a deep decline, stay calm to enjoy each process.

if it was so easy to figure out the market trends in their early stages, specially when we are talking about a trend reversal, then everyone would have been successful in trading and were making millions per day!
the problem is if you wait for that "strong" trend reversal signal that leaves no doubt that we are on the rise, then by that time it is already too late to make an entry.
for example take a look at what happened in the past couple of months. we saw the reversal after failing to break below $3k and have been "reversing" and rising ever since but those who waited have already missed on nearly 70% rise.

Right, but as what we have seen, the market seems not bother by this all NY AG Bifinex and Tether drama as the price seems to recovered beautifully, form $5100-$5300 currently.

So yes, investors have matured, no listening to any FUD anymore and are willing to spend their cash to buy bitcoin as this point and HODL for the next bitcoin block halving.

Well the actual movement of bitcoin right now is in a state of recovering but I am not seeing a bullish run, for now, I am seeing that if we breach the $5500 resistance we may see $6000 USD mark by the first week of May if this continues to surface to recovering But obviously the price of bitcoin is in less volatility now, So right now I think that the market is not ready for another bull run just yet, And in my opinion, I really think that this is still a decent price than nothing.

Agree with you.Current support is on 4950$ then 4750$
Residence is on 5240 $ and 5318 $ if bitcoin will break 5318 $ then we will have  attack on yearly ATH
Good to watch price gap between Bitfinex and other exchanges .If gap will rise that it will mean Bitfinex is losing liquidity
It can be few nervous days caused by fud and lowering price attempt

April has been an extremely generous month for people. Not much was required for people to make profit, but the market won't continue to be this generous. The market looks overbought and due for a sub $5000 dip.

Don't forget that before the pump to $5000 people were largely bearish and still speculating about how sub $3000 prices were realistic. Some were even speculating about the price to reach $1300 or even below $1000.

People were overly bearish in March, a pump we got. People right now are overly bullish, and a dump we got, and I believe there is more room to the downside, so don't assume that it's over and we go back up.

Well even if the price drop a bit i think the price will grow, and this is not a signal that the price will go more down, but i think the price drop because bitfinex problem, and i think we can have over 10000$ price for 1 bitcoin this year.

Let's wait for the further changes which may occur few days after we've seen price to drop slightly. Maybe we experience some glitches of ups and downs, but it was all part of the process of corrections. Just enjoy the show and don't worry even though this was so intense, because someday brighter trend is going to happen once everything has been put into the right position.

at all times there is always a lot of people who are claiming that they expect very low prices such was the case with $1300 and $1000 but that doesn't mean they actually expect it to happen or speculate it. and it certainly doesn't mean people are bearish.
what we had prior to the breakout over $4200 was "uncertainty" where people didn't know which direction bitcoin price is going to go.
with that said, i don't see any room for any drop anymore. the dropping days are over. at this point there is only small corrections after each rise and the rises themselves. the only case that might cause a drop is if something bad happens like the recent Bitfinex drama, otherwise there is no reason for drops.

The crypto market is behavioral one. The price fluctuates according to the behavior of public at large. If price moves from $4000 to $5000, it shows public at large believed that Bitcoin should valued more. There is nothing like over bearish or over bullish. The current market price shows the price that all crypto users agreed upon based on their belief at current particular point of time. However, this belief could be shaken or strengthen based on News and circumstances. If it strengthens then price will rise and vice-versa. That's why I believe crypto market fluctuates primarily owing to Crypto Updates and Circumstances and it's almost impossible to predict future until it really happens.

Bitfinex issues never give a huge impact on the market price, it is just an isolated problem which we don't need to have a big deal.
We face price declines since before and that is actually the market behaves.
As do expert says that crypto market will recover soon and we don't actually know when. Hopefully as what the market shows these days might be able to continue for the coming months.

We saw a little setback in the market because of the controversy of stablecoins, but I think we are soon going to see a moon in price again and this time it would be coming in full force, though we might not see bitcoin get to $6000 for now until some few months later, my best guess is at the fourth quarter of the month, so let's just keep watching and hope for the best in the crypto space, because a lot of persons are now creating FUD news.