Bitcoin Forum

https://economictimes.indiatimes.com/markets/stocks/news/bitcoin-indicator-flashes-a-sell-signal-as-slump-accelerates/articleshow/69659003.cms (https://economictimes.indiatimes.com/markets/stocks/news/bitcoin-indicator-flashes-a-sell-signal-as-slump-accelerates/articleshow/69659003.cms)

As euphoria over cryptocurrencies deflates in the wake of Bitcoin’s biggest monthly surge in almost two years, technical indicators are showing there could be more pain ahead.

The GTI Vera Convergence-Divergence indicator, which detects positive and negative trends, flashed a sell signal for the first time since April, suggesting there could be further downside as Bitcoin halts its recent monster rally.

It seems like the ''bleeding'' has stopped for the moment and now the price is maintaining at $7700. Many people panicked and sold their bitcoin immediately after they saw how fast the price is going down and this could be either a good or a bad decision.Some people say it's going to continue the downward trend others think it will rebound back and reach $9000. Well have to wait and see which of this parts is right.

Wouldn't worry about it too much. I wouldn't rely too much on one particular signal as no one indicator is always right, but we certainly could be in for an extended downwards run with this recent dumping if we start to break supports again. Got a decent entry on a low-leverage long in this particular dump and I'm continuing to hold it with a somewhat loose stoploss as I personally think we'll start grinding back up again soon as the selling pressure has waned a bit since we bounced off $7400.

Yes and a good signal has returned, the market is green again and we can expect the price of BTC to jump up to $ 8k3 - 8k5 again. Anyway, the 2 rounds of price adjustment for the past few days are necessary. because the growth is good and stable especially when it has a correction from the market.
We will not want repeat history like 2017 and the whole market collapsed completely in 2018.

Don't listen if you are bullish or if you are holding bitcoin.
People can talk anything because they have the freedom, what matters is what you believe.

Let's see the market will dump, then let's accept that reality, but I don't think it won't recover.
Based on the past performance of bitcoin, it's been dump many times and bounce back strong then reaches a new high.

Past performance should not be the only basis to predict the future. I think that sounds cliche but that's the truth. Sure, we might see a repeat of chart or pattern, however, that's just that. If at one point governement on earth decided to ban Bitcoin and close any exchange, 0 price is possible. But of course, that's unlikely to happen.

Just be careful and take profits whenever you're able to.

It is true I wouldn't rely on a signal indicator because the market moves are unpredictable.
The crypto market is full of surprises so we couldn't really rely on those signal group or tools.
The only thing we could rely is on our own we make our own decision live with it no matter what .
We couldn't predict if the market would start to bounce soon or it would continue to move down.

A sell signal can be a reference to those day traders who are taking advantage of the price swings.

If you are a HODLER then don't mess to their analyst or simply ignored it, simple as that.

Day or short term traders have their own sets of references and those signals created by the chart lines are one of those. Since it's critical to play at daily price swings, they are looking at whatever references available that has great and well-detailed analysis so that they can create a strategy for their next execution.

Those signals do not reflect the entirety of what will happen to bitcoin. Most of the signals are just interpreted by analysts depending if he/she is positive/negative about the situations. That assessment is not absolute. As you can see, the market is still on the bullish mode, meaning investors and traders are still positive about the current situations despite the presence of few drops.

Strongly agree with the cessation of total bleeding, now trying to strengthen its value and maybe this is preparation for pumping back, I don't know what will happen in the future because this is beyond anyone's predictions, I am a little dislike of those who issued the statement after all that happened of course, whatever it is, it's all free to express its opinion, I'm sure at this time the price is trying to bounce back to normal.

🚨 🚨 60,294 #BTC (472,286,070 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/T8106Knl59

Maybe this is a preparation for another pump up to break the $10,000 level Im still believe Bitcoin will dominance again.
People are panicking after seeing a fast dump of Bitcoin but right now its stable to $7700 and waiting for another run.

This is the thing that other people as expected, a few days before some people regretted when bitcoin surged with almost 20% and now you also protest. Things like this are sought. Buy some for long periods. I'm sure this will only be for a while.

This is a way to get rid of poor psychological investors in this market and whales are looking to buy Bitcoin at a cheap price before there is a big price increase in the next few weeks. What I can be sure of is that Bitcoin will soon return to the $9000 price and we can make a bigger profit if there is great confidence in this market. Anyway, be careful and only use 70% of your assets to invest and spend 30% on an emergency because I can't be sure of the trend of this market.

Agree, why would we worry when the price is holding strong above $7000? Year-to-year we are still up and even the 30 to 70 days indicator are also good. Currently though we are in the sideways pattern, we haven't seen this graph for about two months now. But we can have a break out run, there could be indication as per TA to go on a downward trend, but we all know that this markets most of the time don't follow any TA. It will just go move in the opposite direction. All we can do right now is look at the current sentiments or even HODL for the time being, no need to panic sell.

What the "GTI Vera Convergence-Divergence Indicator" (lol, no idea what the hell is that) missing out is the fact that it was due to one big sale and not a market movement collectively done. Which most of these indicators are missing out. We are still bullish on the market except this one dude who sold and he is now gone so we are fine and we are doing great on a bull run.

We didn't even dropped further down than what he dropped us because of the panic sellers like we used to and we held our place. That is why I am sorry for the indicator but unfortunately it is wrong at this current stage, it doesn't have a sell signal looking situation and it will go up once again we rally up soon.

This is an undeniable fact and in fact a universal truth that Whales have been instrumental in pushing the market value of these crypto assets immensely and I feel that we are going to have the same scenario again which means that a hold of your crypto assets for a bit more longer would really be a reason for great profits in the next few weeks of maybe months.

May might be the biggest month that has held the highest increase in value of Bitcoin after the bear recovery of this year, I strongly believe that it will not be the last increase and that will not be the month to celebrate the highest increase for now.

There are still more of investment that will come in this remaining part of the year with more developments, more industries and more investors, I do not see any form of FUD news that may create massive panic sell, the sell we see now is not necessary but does happen because of people who has profit target, not everyone you see has ATH as target, while that is target of many of us who are still in the market, the correction will reverse and we will see new uptrend soon.

Indicators are not the "truth". Altcoins and cryptocurrencies have no a solid backtest like Forex, so market is still unpredictable.

OP, but it's actually flashing a buy signal. Don't believe me? Zoom out. Many a good men have made the mistake of day trading over and over instead of HODLING Bitcoin.

Obviously most of the signals are spam so still many peoples are not believe the trading signal. At the same time I saw the good signals also because those are expecting our money they will never satisfy. So better we will analyse and take our own decision is a good move.

I have made the same mistake. I thought I would do well selling a portion of my coins at lower than current levels to buy back and end up with more satoshis, but the price kept going up instead.

It made me realize that it's not worth it to sell and try to buy back 10-20% lower. If the price happens to tank in the coming weeks I'll happily buy back my coins and send them directly to my cold wallet. I learned my lesson.

As for the market's buy/sell signals, I don't think it has been much of a useful metric to follow. The market as irrational as it is has ignored technical indicators for quite a while now. Just buy and hodl.

Stability at $7500. I will take that but should not go below it. Or else, bad things might come again for the panic boys.

It is just a signal and could be a fake one too. It could also be a bait for newbies to start selling for them to buy at a lower price.
This kind of strategy aint new anymore. It happens mostly in altcoins but can also do with bitcoin although there will a little chance it could click.
The expensive price of bitcoin makes newbies in a place into where they cannot sell at rush thinking a price pump will happen anytime again.

It's really hard to rely solely on these signals. Things here in cryptocurrency are very unpredictable. Prices are very volatile wherejn prices go up and down without any warning. Of course we don't want to regret or get left behind. It is really a dilema. As of now, I think investors are still positive about the situations.

I second this. I have already lost too much money listening to "all indicators show sell/buy" and then the opposite became true. The market is still unpredictable, forecasts mean nothing in my opinion. So its way less stressful to just HODL, lean back and enjoy the ride.

We are quite used to those set of people already and we already know their plans, their plans are to create dump either because they want to invest or they cant’s just live with the future fact of seeing their friends jubilate in future at their investment.

The thing I have realized about sound Bitcoin community is that they are usually not shaken by things like this, even when the price dumps hard, they still see it as an opportunity to buy and you get many investors buying, so let the dump come, we are still here to trade at that value, and we will keep doing this till the bear is completely over.

Your words are quite contradicting, because when it comes to Whale and Holding, they are both enemies and in a market where we are sure that the pumps is as a result of whale’s manipulation is very risky to practice holding, and short term trade will just be the best in that situation.

It is only an organically pumped market that is very safe to continue holding because the intention of the investors are clear and would not be for the purpose of manipulation. If you invest in a coin knowing whales are pumping it, expect that there will surely be a great dumping, and if you are not fast to take profit when they pump, then your investment may crash along with their dump.