Bitcoin Forum

https://i.ibb.co/WyF4pw7/Screenshot-20210405-130216-2.png (https://ibb.co/R0Pk4mt)

BTCUSD chat on a 4H time frame, are expecting a bullish trend or would this market still sell. Am at a junction where my MA is far from the market although its pointing towards the bearish market. I'm seriously contemplating weather to go long or short the market.

Going one time frame higher using the D1 time frame on my mt4 app the market is indicating a strong reversal going towards the bearish market although it's still testing my MA line but once it breaks out i should be expecting a bearish trend. Do u think this market will buy. Let's analyze this please

https://i.ibb.co/X4nKLvy/Screenshot-20210405-131059-2.png (https://ibb.co/LPTcR2Q)

There's a large formation I can see on the daily timeframe if you zoom out that produces a triangle/channel.

Generally it's putting more pressure on the top to breakout so the likelihood on normal markets is a breakdown past 54k at its conclusion.

However it also looks like the channel includes reaching 64-68k which would be a new ath and may add momentum to it.

For more certainty on a trade youre probably better off waiting for a break of one of those or trading a continuation. Considering we're still in a bull. Market the chance s of us going down far are quite low here (I don't see 44k anytime soon)..

not financial advice, just a few cents to scatter I also don't trade crypto markets often as they're a bit too erratic.

What kind of bulls are you expecting? this year has been a bullish year in bitcoin history. So we're still looking forward to $ 100,000. as the whales who had targeted bitcoin over $ 100,000 - $ 150,000 wanted.

The market is actually selling on both time frames I am only analyzing based on the chat I have at hand. It's reading bearish on two time frame. The year might be bullish for Bitcoin this year but is it wise to hold position now. Or should it be sold so as to re-enter the market when it starts buying again

Bitcoin finally made a bearish trend and from the analysis bitcoin is still going to sell for a couple of days. It's would be wise to sell now and buy back by next week. Bitcoiners could go back to their chat and make a better analysis so has to benefit from this bearish market move. With the expectations of a bullish reversal by next week

Dollar-cost averaging is the key here if you think the price might get some rebound the next week. I am still bullish with bitcoin and with the dollar-cost averaging strategy I know I can counterbalance the short term price actions.

There are still bullish fundamentals and news across the crypto space right now and I think it's not bad to rely on those too.

That's precisely what I was thinking. We are in a bullish trend.

There is also a little bit of sideways in bullish trends, like now, we are not going to get to $100k in a straight line.

Slight retreat in price today but there’s good support at $55,000. I think we will see a new ATH within 2 weeks. Resistance will only last so long, once we break $60,000 we moon. The trend is your friend, we are in a bull market.

Feels like it's been doing this for 2 or 3 weeks now? I'm not actually even really remembering anymore how long the weeks are in between, happy to see this kind of short amplitude even on a weekly timeframe. 55's a really powerful floor if that's the extent of the sells (and bears look super weary too by the thin orderbooks). Weekend will tell us more but without any volume anywhere, I'm not placing bets yet.

I do agree that these type of "corrections" usually mean something great for bitcoin, I do not know how long it will continue to drop but that will decide on what is going to happen later on. Remember last time we went down as much as nearly 50k and then came to 60k so that means not every drop means a crash but not every drop also means that it will skyrocket neither, last time we failed to go over 60k and this time we could fail that again who knows.

However if the fall is not that much and it will become bigger that means we are going to see a decent increase in the price later on, and that is why I think it is clear to me we are not going to end up with anything that would be terrible for bitcoin in the long run if the drop is not that big. However if the drop is too big, like under 53k that would mean maybe we will recover but not go over 60k again.

we are in a bull market whether you are looking at the short term zoomed in chart or long term couple of months visible charts. the only reason why we aren't seeing a big breakout yet is that there is a lot of panic sell and day traders who keep cashing out as soon as price reaches $60k to get their short term profit out effectively preventing the rise from growing as it should.

the good news is that as soon as $60k resistance breaks there will be a huge FOMO and price will reach $70k in no time. before you know it we are discussing whether $100k is going to be reached in 2 weeks or 4.

Are we not on the bull? At least we are bull on Bitcoin even not bull for all other altcoins. As soon as Bitcoin breaks the $40K support zone, then I can say we are on a bear trend. Otherwise just playing above $40K means still we are on Bitcoin bulls. Honestly, the current bull trend wasn't expected by most of the holders. But we have seen a great bull this year. To be honest I am not expecting more than it this year. It would be enough if Bitcoin stays above the $40K zone. If Bitcoin somehow shows stability for a few months then we might see bull into overall crypto markets including altcoins.

If someone has to sell, he should've sold when most of the alts are up because bitcoin is also up with them. The bearish trend that you're saying right now, is just a small dip that usually happens to bitcoin and the market itself.

But it's a good time to buy and I agree with that. Not that much of a correction for those who wants to buy but there's a discount already for those who wants to buy it to add basically more on their own ports.

Why are you using a 4 hour chart when we are talking about a bullish reversal? Hourly charts and shorter are used in trading and short time frame reversals. On the other hand while you are using the daily chart it really lacks the information needed to analyze if there is a bearish reversal I don't know what MA you have used but it isn't enough to analyze anything as MA doesn't really hold up without analyzing other indicators such as the volume and MACD which works very well with MA analysis.

Bitcoin has started this year with a hint of a big bull market. We’ve all already seen how powerful Bitcoin has performed. It remains to be seen how Bitcoin will perform in the coming days of this year.

Because now the situation of Corona virus is getting worse in the world again, if Corona's effect affects the economic market again, it remains to be seen how the bitcoin bull will deal with it.

Dont try to attach things up like Corona virus when it comes to this market because you cant really precisely tell that it could really give out effects or influence overall.

For now im not really that much off confident on heading into those peaks.I believe that this current level is considered to be peak.Of course its just my opinion because
we do have different impressions towards the market.

The good thing we are looking now is that the price isnt really crashing that hard even though there are small corrections but its just been part of a healthy market.

How does the corona affect the bull market trend? Maybe it does a little but it doesn't mean it contribute the whole market remember we go thru the halving state + adoption became wider so lets not assume all things happen due to that incident. I know you will point that because corona the people force to stay at home and find bitcoin but it really doesn't make sense since not all people into the bitcoin right now.

In the article referenced by cointelegraph, they say that in a possible bullish scenario, bitcoin can reach a price of up to $ 79,566K, and if it is very low what it can reach at the moment in a possible resistance at $43k.

https://i.imgur.com/Uq8Jxui.png


Source: https://cointelegraph.com/news/price-analysis-4-7-btc-eth-bnb-xrp-ada-dot-uni-ltc-link-theta (https://cointelegraph.com/news/price-analysis-4-7-btc-eth-bnb-xrp-ada-dot-uni-ltc-link-theta)

Of course, this can be invalidated if institutional investment comes in that can cause a big bull run, it could even reach more than $ 79k.

Though Btc lost almost 5% in the last 7days, but it's guaranteed that this will become a bearish trend, and yeah It's good to short your Btc while the chances to bounce back next week or the coming days are still high, and this has been going on since the bullrun began.
I'm not quite sure whether it's still good to sell currently at $56,000, because it seems that the price action are set to make a reversal.
Nevertheless, that's a good analysis of yours.

If you're thinking whether to go short or long think about your current position.

People who have a lot of coins bought ling before this ATH should take some profit. It's going to make them feel more confident, safer, ready for a possible fall and give them available money to buy the dip.

If you're one of those who still don't have any coins you should buy. Having none means missing possible gains if we go up. Always open yourself to both possibilities and have something to do when price goes up or down. I honestly think that every person in the world should spend at least 1% of their savings on bitcoin.

Since we are in a bull market you have better chance of going long. Don't go against the trend, wait for a confirmed reversal. 

I don't really think so, because the market was so unpredictable for now and there could be a possible bearish that might be happening. Lets always monitor the progress of the price right now, maybe there's a quick crash that we can't notice and our decision possibly gone wrong unexpectedly.

Bitcoin price is failed to pass $60.000 and now in the daily time frame that will be indicated to lead the bearish market come. More than that, in the daily time frame as well we have seen the candlestick patter has been showed a triple top pattern which is indicated as well to the bearish market.

This is why in a few weeks ago I'm not entry to the market. I'm waiting for the price passed at least $60.000 first on the daily time frame and then I will choose long entry for the target $100.000. But, seem like the price movement will meet a correction first before to take some long entry at the lower price.  

Nothing is sure but seeing how the market shows such an impressive demand for several months and keep on the $50k line, it neither we don't see a huge pump again, that I was already contented enough. Those corrections had shown are just a normal market change, it comes back and forth, dump, and pumps again.

But Thinking for another bullish pump, that was not impossible, that really it comes if it is given a chance. That simply we really don't know and not sure about it, everything is in a big surprise just like how it did this time.

Actually, we are already in Bullish tren, if compare with 4-5 months ago, so if you join at that time, you already can sell it and earn big profits, so bullish already happens,  the difference and the main question "your target". For me, my target still not reached so I will keep holding it and be patience

Bearish market might be happening all throughout this month if btc price would gradually decrease from it's current value. I would advise that we need to prepare our additional funds to buy during the dip, because when bullish trend will be reversed towards bear market it's a big opportunity. Most traders who is eager to catch that big drop is currently waiting for that and FUD is now starting to come out and I think they're depending with it.

At this time wait for it to reset back to the 50 day average before considering a wider bullish move.   Its far below weekly and 2 day averages for the moment, Dollar index has a slight descent on that so its quite possible it turns around in this area and worth consideration but that effect might lag and so we fall first.

Exactly, i mean as long as we saw the bitcoin market price lies between the numbers of $50,000 and up but sad to say this time it is hard to reach $60,000 still a good thing to consider because $50k was still considered a good market value. So the market of cryptocurrency really do unpredictable but in my opinion the market value of bitcoin was still in bullish trend  but hopefully itcould attain new ath this month.

Technicals are good but only up to some level; you cannot 100% depending on it for opening your new trades. Because, market sentiment is something independent from technical analysis like when more number of investors are joining into buying side, then any technical analysis will become invalid. Basically we are into bull run and it would be much safer if you keep buying at dips and planning for long-term holding rather than trying catching short-term trends.

I'm not much familiar with any of technical analysis but I'm able to make good profits out of long-term holding and making use of my excess money for buying at dips. Basically I am always belonging to bull side of bitcoin and will go to sleep mode if bearish trend is witnessed.

Bitcoin is buying againMarket has reversed expecting a major breakout before the end of the day. What a smile on the faces of Bitcoin traders.

In this picture, it looks like that the line is being respected as of now and it is becoming a short term support.
I don't know the Moving Average that you are using in your chart though.

I did a quick plot on the BTC chart on a daily basis and it looks like it went down to the 20 MA for a day but immediately recovered the next day but the MACD is going down showing signs of weakness. Are we expecting a bullish trend now? Since we are in a bull run for months already, I expect that it will test again its previous ATH at near $60,000.

https://i.ibb.co/jywSVRj/IMG-20210414-WA0000.jpg (https://ibb.co/sK1Z5HX)

Knowing how to spot and draw good support and resistance levels is important if you want to be a trader. Relying solely on fundamentals wouldn't do you much good. From the chart, you can see the different price levels bitcoin has hit. Bitcoin has risen significantly although the market is unpredictable, I dare say the bull run is not yet over.

If you go for different technical analysis then each tool/strategy will give slightly different support and resistance levels. This is the simple reason why at each and every price levels some people are buying and some others are selling with their respective expectations. Knowing fundamentals alone will help you if you are an investor; you must need to be an expert in technical analysis if you want to be a profitable trader.

Yeah, bull run is not yet concluded but I wonder how people are trying to predict the sentiment of whales/institutions. Because, there are confirmed sources which explained how we reached in the zones of $60k which may not get disturbed in near future as the trend will persist when other institutions decide to copy.

There is no doubt that we must expert technical analysis in order to become successful traders. Fortunately now it's not too difficult to learn
to analyze the market, because there are so many platforms that provide learning about how to analyze the market properly. So if someone
has not mastered technical analysis, it is possible that the person is lazy to learn. If we look at the price of Bitcoin, which has continued to rise
in recent days, it is like the bullish trend has continued. This is likely triggered by the many institutions buying Bitcoin.

Bullish trend? I don't think if it really needs to have another ATH.
Maybe we could able to see this once again if we all not selling this time. Holding is a big help to keep the momentum still the same( at high) or it grows more. But as usual, panic sellers and weak hands investors will surely take this chance to sell their cryptos. So, we can't be expecting that the price will keep on the top, price corrections may usually happen as well.

There is no science behind drawing support & resistance levels.  Each supply and demand trader draws them differently.  Some use the wicks, some only bodys.  Some require major moves and take slighter moves into consideration as well.  Some require min. 2 touches some say if the move was major enough, one touch is sufficient.

As every market participant has different motivations or conclusions from what he sees or expects: that's why markets move.

It's just normal to earn some profit during this bullish trend and I don't think weak hands people are enough to make the market drop for a while. It's currently testing new price since it broke $64k resistance level and I don't think it will go straight to bearish just for that slight pump for a while.

Price would get in once the market starts to keep rising for a week but the market is yet in almost a stable state since last week. There's a possibility that Bitcoin would break another ATH soon but for now this price is just a testing so I expect a bullish trend soon.

Yeah bitcoin market was stable last week but we are into definite bull trend right now. Usually before every bull market, bitcoin markets do stay stable for some time which could be assumed like it is getting power to leap or technically sustaining phase. Practically when bitcoin market is staying stable, investors will get more confident to buy more and currently we are seeing institutional funds are heavily contributing on this bull run and definitely they might have bought some big amount of bitcoins right now so we are seeing new ATH.

Big investors are known for nullifying the technical analysis and this is what exactly happening right now with the bitcoin markets; as per OP bitcoin was about to enter into bearish mode but we are seeing strong bull run again.

Any pullback to a support level is an opportunity to buy the precious coin at a discount. When the price falls below these levels, it becomes an attractive buy opportunity. And that is exactly what is happening with bitcoin right now.