Bitcoin Forum

Bearish sentiment and panic selling? Can be there any better buy signal? ;) ;) ;)

Panic level is close to ATH from December 2018 when we actually had a bottom after which price pumped x4. I think its fake breaking out of a triangle and we will see Bart formation soon what will be a beginning of strong bullish move.

BTC/USD had a heavily bearish day this Tuesday. Following an unexplained flash crash in its hashrate, its price tumbled down heavily. BTC/USD dropped from $9,691.45 to 8,534.80 going below $9,000 for the first time since June 2019. The price has since recovered to $8,645. The hourly breakdown shows us that the price was trending horizontally for a while before it dropped from $9,465 to $8,403 within two hours. The daily confluence detector shows us that there are no visible resistance levels, so further growth is expected.

Any folks that starts to make the unsettled call because of the drop is making the wrong call there is no point in panicking the price are gaining weight already it's been an averagely OK year

I agree that it is an average year though but whether price is gaining weight currently since two days ago is doubtful. The fall since that two days have seen bitcoin back to $8,100.

That fall should be a point of jubilation for many people who have not invested, missed opportunity to invest at $8000 and even an opportunity for those who have already invested, because since is a window that has been opened to make more money for those that would take this price as an opportunity for new investment. After this dump, we may never see any dump that will give us this much gap again for investment, as this could actually be the lowest for now.

Everyone that buys at this amount now, will surely be a lucky person when the price of bitcoin recovers again, because I know that first, it is going back to its previous price of $10000, and from there, it is like that we touch that speculated $15k now after this correction, so I say that this price drop now is a good opportunity for people to buy.

When it was around $3000, everyone thought that the price could even fall to $1000, but soon the price was over $10000.

The analysis is our best help in predicting the price, but it is also possible to act differently from the graphs, as long as we continue to believe, we get what we want.

I think so, it is a good opportunity. Good opportunity for those who did not take risk before the last increase...

Haha yeah I remember that, when bitcoin fell to $3,000 a few months ago, everyone speculated that bitcoin would die and it would go down to $1000 again. Yesterday when bitcoin reached $13000 I'm sure people who thought bitcoin would return to $1000 would be sorry for missing a moment of cheap prices.

And now, sentiments like that are coming again, they are making a panic sell even though this is right time to buy. I do not understand the way these people think, they are too unstable to trade as if they are beginners who do not understand movement of the crypto market from time to time.

Anything can happen with BTC's price as I even expect it to fell within the $6k - $8k price range but this doesn't concerns me since I'm pretty much confident that its price will rebound very soon!

I guess no amount of FUD or negative news about BTC will influence my resolve and optimism particularly with cryptocurrencies. I suggest we should relax a little bit and devote our time to something else useful rather than spend our day regularly contemplating on its price volatility!.

Bearish sentiment acts more as lagging indicator than a leading indicator.

I was just going through the chart and saw that during April when BTC jumped as much as 80% in a few days, sentiments were highly bearish. After the jump, it went bullish. Same happened in August and right now the level is pretty much low from the ATH. Nothing to be scared of!
We need to watch the market for another week for coming to any conclusion. Sentiment index alone doesn't make any difference.