Bitcoin Forum

Ey guys, I need your help.  Here’s a chart of an alt I’m interested in buying but I’m not really sure if it’s starting to look bullish or if it’s down trend continues...  I mean with the whole market being in the red and all.

But just by looking at the chart, without bias, and just by optics or how it looks, is the chart bullish or bearish?

https://i.imgur.com/go4SQ8V.jpg

Edit:  I won’t tell you guys the name of the alt for now.  I’ll tell you later.

I am amature but for just learning purposes I will say something about it.

Downtrend is stopped, bottom forming took place. It could be in a upside channel, however to early. The last candel suggest that it could decrease towards the bottom (close) and then increase to try upside.

This looks like the reversed-BTC chart  :D

I would say that there are chances for a short-term up movement. Whether the downtrend can be stopped needs to be seen...

Next time you represent your chart in candle option mode. Charts are better understood and interpreted better when in candle sticks because many traders learn and understand candles more.

For the analysis, you maybe having some bear correction but it favours bull in the long time.

I see there will be a trend reversal. but it's not bullish, if you look at the chart as a whole the trend still shows bear. That's all I can say, I can't go into deeper analysis because it's just an incomplete chart.

No timestamp details then how can you find that the trend of this coin, if you are giving us weekly chart then this maybe the end of the dump but will fall more if BTC dumps further so don't just stick with one chart, keep all the sources you have before making a discussion.

Nope, it’s an altcoin.  But since you think it’s a flipped BTC chart then your analysis could be completely biased.


I was just looking for your opinion based on optics and your first impression.  I’m not looking for a complete and detailed analysis.  Lol.


It’s a daily chart.  And as said, I kept all info so everybody’s opinions stay as simple as possible and based on just by how it looks.  The thing I’m getting at here is making it not biased as possible.

So its like the coin is still in the side ways which can move in either way so its not actually possible to find the future movement for now but you know the coin so make research on other sources and also the price of BTC is decreasing so I will not prefer to invest now, you should wait then you may have an opportunity to find cheaper price in the next few days.

The downtrend has been preached and might turn into either sideways or uptrend. From what I see, the selling force has lost their power for many days. I would not enter any trade for such obscure charts. More information is needed to determine whether it is fully reversed to uptrend or not. Both buying and selling in this area is dangerous. If I have this chart, I will zoom closely in smaller timeframe to look for a selling/buying signs

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Is this bitcoin upside down chart?

^  No it’s not.  It’s an altcoin.  ;D  Do you guys think it’s looking more bullish today than a couple or so days ago when I made this thread.  You know...  cos it’s alt szn?

https://i.imgur.com/9cRWhLy.jpg

Hopefully, you are not just using price as a technical indicator.

Also, there are bullish, bearish, trading ranges.

Chart only tells story about trend if you have volume. Without the volume indicator, I can not say anything.

It can be the end phase of accumulation if volume is good, it will rally soon.
If volume is falling down to too low, to zero, it is a chart of dead coin. No bounce, no rally after all the falls.

It's likely to be bear
But I wanna know the time frame then we can fully explain the chart.
Now this is how it goes
For 5 minutes time frame, I m seeing riversal
30 minutes is consolidating
While in 1 hrs it will be on up trends. But in a week time frame will be in down trend but incompletion of 7days it will moved up causing retracement.

honestly this time it is very difficult to distinguish bullish and bearish,
the price of Bitcoin is in the support area and of course the price should go up, but watch the price go down,
I still hold the Bitcoin that I bought at a price of $ 45k, hopefully the price will not continue down

You can't tell if its a bullish or bearish unless if you use some indicators wherein can tell the right direction of the candles. I highly recommend to use SUPERTREND, WA, MACD and RSI to see if its over bought and over sold, actually there's more useful indicators that can really tell the specific direction of the growth wherein ts up to you if you want make research first.

A chart where we can't pinpoint any timeline or anything. In this case, any good trader would shake his head in disgust.
It is best if you provide more information so that we can discuss it further. Currently, Bitcoin's chart is very bad. As we know most altcoins move in the direction of Bitcoin so in this case, a price drop will occur.

That's a bearish chart and there's a sign of reversal so  the bull might get started if that altcoin able to break the resistance, this is just my speculation based on the candles alone, but in trading you have to put more indictors to compliment each other especially the volume of that altcoin, it can tells the whole possible trend, so don't forget to analyze those and use indicators.

With the market going downhill like this, I think any altcoin has the potential to break the trend to enter a short-term downside. The trend is strong and hard to resist. I recommend exiting your investment for safety or trying to find a better buy point. This week's drop has shaken up the crypto markets' struggles over the past several months.

I like this thread and that's proven if the TA is not even stronger than FA. that needs a few minutes for bitcoin price to go down caused by fear from the traders and miners to the bad news that came from China. I will not try to predict the current market consider it's totally unpredictable.
So many people have been sharing their TA these TA didn't even work.
Bitcoin is only following the news. That's the fundamental key of bitcoin.

At first glance, it looks like a new defi chart, falling wedge in rising wedge... very stiff before BTC breaks hard, I'm curious, it's quite similar to Theta at the original fault line.  The final anchor will be the bullish line.  There is no specific rsi , ma or it will continue to be affected by the break from BTC but it looks like it will make a new bottom.

Considering the current market trend, I think it would be best if we keep our money for buying on hold and find a good entrance on buying. If we would look at the chart generally, we can see that it is quite bullish but if we would try to analyze the market right now, we all know that it will soon turn to bearish. Bitcoin affects almost every altcoin and once it is the downtrend for bitcoin, it is much expected that altcoins will soon follow. Let us use the current bear market as an opportunity to buy since sooner or later, the market will recover once again and bitcoin might new ATHs.

Am definitely not an expert in reading charts, but just wanna state what this chart looks like to me .
I think this is a zig zag downtrend chart, shows the coin or alt is going down but pumps a bit and goes down more, a good trader who have taken out time to study this alt and its movement pattern is likely to make some good money trading/riding the wave, that is buying when the coin deeps and sell when it pumps, then wait for the deeper deep to buy more and sell when it pumps again.
Of course dont take me serious, am just stating what i think, am not a crypto trader neither do i have any experience in reading chart, am just an investor. 

^  Really?  This chart doesn’t look like it’s breaking out to you?  Cos it def looks like it’s breaking out to me.  And it’s kinda choppy but it looks like it’s also forming a standard cup and handle before another leg up.  What do you guys think?

If it breaks out its January highs, it could go straight to the moon!  :D

https://i.imgur.com/srhA2vb.jpg

For now doesn't look bullish neither bearish. Need to break last high to be bullish.

Next time if you will share a chart, it is much better to show also the timeframe. Another piece of advice is also to try looking at different timeframes, it may help you to analyze, not just in 1 timeframe especially if that timeframe is the low timeframe.

Btw for this chart, for me it is showing breakout, the resistance broke out and now that resistance is acting a support which is pretty good.

If you see potential in the project why not pick up a handful of it since the price maybe a lot cheaper than what it use to be few weeks back I presume,  maybe nobody can give the exact state of the chart you presented, if about to be bullish or still on down trend, but to me, I feel buying it while it is cheap now won't hurt your wallet much, even of it will dip, it won't be as severe as last few days, just imo, market is highly unpredictable, you never know how fast will be the reversal.

It is what tokenweed tried to hide in the unnamed chart. The inverted version of breakout is crash. The chart is the inverted chart of Bitcoin, if I am not missing anything.

Correct me if I am wrong tokenweed.

I agree with Great Arkansas that a full time frame is important. It help to decide that break out or crash is temporarily or a begin of a long trend, bull or bear market.

Bitcoin market can fall more but the bull trend will not be broken with price is hanging around $20,000. It is the important point of full time frame from Great Arkansas.

This pin bar chart clearly shows that its a downtrend .You didn't clear the time frame of the chart .However at the end of the chart i am watching a positive momentum and a good small bullish trend and i think it will continue .Its could be much clear if it is candlestick .However i just actually wanna know the coin name i can tell you much and more than .

This chart looks bullish. Now all altcoins are synchronized in one way or another with bitcoin and repeat its schedule. The topikstarter schedule is also no exception. The graph shows re-accumulation. This is a re-accumulation before going up, that is, before the pump. In my opinion, this is a good entry point. But, of course, the risks of the "black swan" must be taken into account.

It is bulllish, try to break out but if you think of it as an inverted of a real chart. The inverted trend of bullish is bearish. @tokenweed has never talked what is the asset in this chart and is it a real one or an inverted of a real one.

With bullish, you talked about risks from Black swan events and the invert of it will help the market breaks out from a bearish trend. In 2019, President Xi and his announcement in China help the market broke out.

If this chart is about Bitcoin, what is waiting for us?

Can you tell the name of the altcoin in that chart?
I think it could down for a while and break for the next hours. I guess that chart show monthly, so it could hard to analyze more. I hope there is another timeframe image that can give more information on where the coin will move. The chart looks bullish monthly, but we do not know how the coin will move weekly, daily, hourly, so that will be still hard to say that the coin is in the bullish trend.

I wouldn't say it's bullish neither bearish, looks sideways to me and since we don't have timeframe in the chart I wouldn't say downtrend reversal confirmed. Looks more like an accumulation phase, needs more volume (which we also couldn't see from this chart). There is no upper channel forming yet. I would wait for trend reversal confirmation before blindly jump in that coin.

There's a slight bearish market in this chart from previous days, but looking unto the latest chart update recently I see a positive signs that we're going to experience another price outbreak.
Unexpected times will fall upon every week, and definitely we should be more careful in every actions that we made. Day trading isn't certain for now, so we must be careful now because one day market will be back to green again.

That’s a bear chart but we are on a different situation now, we have to break the resistance to reverse the trend. We’ve reached $40k again with Bitcoin and that’s a good sign of market reversal, we just have to wait and stay above this level. The market is very volatile that anything can happen, always look at the chart and use this as your guide in buying and selling.

I at first also assumed it might be bitcoin reversed however when we hit $42K ATH and we came close to retesting this area, in the chart below it didn't come close to the pivot so I knew it wasn't bitcoin.

The chart is basically short term bullish but long term bearish. It had a long downtrend and its time for some upside. It had a failed low and it also breached the prior pivot high and made a new higher high as it bounced.

So most likely it'll go a little higher however it'll eventually run into some resistance and probably start to head back down. If it goes back down it'll probably resume this trend and break to newer and newer lows.

No doubt. we may break the long downtrend but there are some big sell pressure. To me market sentiment looks good, but it's not confirm bullish or bearish clearly. There might be possible dip is coming, those missed out Sunday dip you still have chance to buy. I'm loading up and rest keep my money on hold as I'm sure the price movement not over yet. Let's hope for the best.

So has it been revealed which coin the chart was from? Maybe OP could reveal it now more than 1 month after the original posting. The suspense is killing me ;)

I think, looking at the chart, the downtrend seems to have stopped, and an uptrend will soon occur. however, depending on the conditions. if there is negative news from the token, the price will be dumped again. however, from the chart that I saw, the price might go up again. Well, I'm just speculating based on the chart, and it looks like it.

I quite agree with your opinion and we can also see for ourselves that little by little it goes up,
I don't know if in the near future an uptrend will occur or if the downtrend will continue,
We need to follow the progress so we know what will happen in the future

Unfortunately I have to agree to a point. short term bullish because of some corrections and of course you-know-who giving some stupid hope to speculators, but the medium term of months does look like it could drop below again if 45k isn't met this month.

Long-term is still bullish though I'd say, but this is talking about next couple of years. I can't see below 30k as new support otherwise prepare for worse.

Does it look like it’s in a down trend?  Here’s an updated one with the time scale shown below.  I’m not really sure what you see but it really looks to me like it broke out from the bottom and it’s now looking like it’s retesting if the resistance has become support.  Dunno...  A lot of you seem to be the better traders around here so you tell me...

https://i.imgur.com/wl6faQ7.jpeg

I think it looks more like a good correction, after which there will be strength for the main growth. When it comes to trends, trends usually need to be viewed over a long period of time, and this chart may just be part of a bull market. But if we consider this graph in the short term, then there was probably a fall and now it has stopped and large players are making purchases.

There is a little downtrend after the value of bitcoin bounced back at $40k though we can't say it still bullish because there is no significant sign that make the market going crazy nor bearish since the movement goes up and down playing around $30-40K. Let us follow the trend what will happen  in the next few weeks.

It would be a side way time for the whole market. I am not waiting for any big rally too soon. Bad news are out every day and the market can not recover with bad news. Stay calm and wait for good news, daily good news, not one good news in one day among dozen days of bad news.

Corrections in bull market will be healthy but the issue is people don't know what type of market is right now. Some think it is a healthy correction in a bull market, some think it is a start of a bear market and the bull market already ended. Who is right, only time can say.

If you are not sure about the market but don't want to lose money, sell all and get out of it. You won't get more money but at least you won't lose anything if the market is really bearish.

The market is bad and people believe it is in a down trend. The failure to break above $42,000 make people think more of a bear market. Altcoins are looking at Bitcoin and when Bitcoin is red, most of the market is bleeding.

it looks like a chart like this, it can be seen that there will be a bearish that is quite terrible the decline indicates that the bears market can happen faster I really wonder why everything can be affected and prices are difficult to predict when the Chinese state throws a tantrum in a way that this negative issue really makes altcoins even worse reading the charts and any kind of analysis doesn't mean the market has crashed right now the market is indeed in a very bad time to buy altcoins.

With what China is doing, it is indirectly very influential on current conditions in the market,
seeing conditions like this of course it will take a long time to see the market can bounce back,
the most important thing right now is to just keep up with the developments

What about now guys?  Is this looking bullish or bearish?  This alt is really starting to look bullish imho.  It could be another great spot for another break out.

...  It’s just creeping up higher and higher week after week.

https://i.imgur.com/89mga06.jpg

^ I agree with you. Again, still plenty of time to plan, recover from the dip, and earn profits. So, better wait for your assets to recover from the dip, likely it's already starting. Problem is some people are extremely worried, just don't panic. Don't take my word for it. Do your research first.

Check it out.  It’s looking more beautiful by the day.  Would you guys buy into this now or wait for a correction?  It looks like iit’s ready for a break out followed by a big move going up.

Just keep it simple and use optics.  What do your eyes see?

https://i.imgur.com/UUy8t9O.jpg

Bullish but it is trying to break out but the volume is bad, smaller than previous failed break outs. So it will fail this time.

If reversing the chart, it means that coin will bounce back very strong.

What chart do you want to discuss? This chart or a reversed chart?

if the market is correcting, then of course it is very difficult for us to predict whether the chart is in a bull run or bear run, but I believe as long as the market is still experiencing a correction, then of course almost 80% of cryptocurrency will definitely experience a bear run too, but if you really want to invest in these altcoin, then now is the right time, because the market is still experiencing a correction, so if the market starts to grow again and there is a bull run, then of course you will get a lot of profit from investing at this time, because we never know when the market will start to recover (could be in the near future or even in a long time), so it's better for you to buy these altcoin now than you are late.

It is clear that the price has found its support, but at the same time it cannot break through the resistance. But my opinion is that the further movement of the coin will depend on the movement of BTC. This coin will move in the direction in which the price of bitcoin will move.

Not sure what time frame this chart represents to get a directional bias but based on what I can I see using ICT trading

this a bullish market as there was a break of structure on the upside...which means price will retrace a bit to the downwards to find the demand order block and will reach for the stars(go upwards).

Bitcoin chart today is still sideways. With prices between 30k to 36k. But bitcoin support at 30k is quite strong, this is a good opportunity for those who want to buy. Because when touching the support is usually the price will rebound towards the resistance.

Looking at the charts it seems that the price of bitcoin will increase a lot so there is a golden opportunity to hold bitcoin. Prices are expected to rise later this year prices are down now but wait this resistance will break and go up.

we have good support from good news that said Bank America will allow customer open futures trade. maybe it could drive bitcoin price in next few weeks or months ,moreover this news release in bottom price. Hopefull we will see hype anymore to bitcoin and altcoin market so it is be good opportunity to earn profits.

I prefer to wait for a while, maybe until this weekend because bitcoin price now seems does not moves anywhere. If the price is still going down, that will be a good time to buy bitcoin. The trend is at the bear trend, but the price may be like this as we saw before. The price movement is still unpredictable, but maybe it will still go down until $30k so we need to be careful and analyze deeper to find the next signal.

price still look sideways in limited range, maybe it need new trigger for drive bitcoin price. At this moment news in market doesn't enough to drive market , investors prefer wait and see to see how market will moved. Maybe most of them waiting lower price to buy with huge amount. Personally i am analize bitcoin price will soar first to 40-42k level before test the bottom again.

Most of the altcoin are now down because it is affected by the falling of the price of bitcoin. Bitcoin now drop down to 31k$ at price so there is also a possibility that the altcoin on price chart may drop down. But there are also so many altcoin that continue to rise even if the bitcoin fall so I think we just need to wait for the next update hoping that bitcoin will rise back soon.

Chart is bearish all in all because major support was broken, though, the falling wedge breakout may show some recovery but if BTC doesn't remain stable or falls more, then I guess your coin will also continue its downtrend and as this is a steep fall, I believe it's better to stay away from such coins as they might continue to fall further due to the overall market trend being bearish.

We are all waiting for the price to go down to buy back bitcoin at a low price. The price is still up and down until now and it makes us feel difficult to determine when to trade. When we can buy bitcoin at a low price, we can buy it with a huge amount of money and if we can hold it until the price increase so high, our profit will be bigger. But to make a big profit will need patience and not all of us can do that.

But how about now?  I mean by now it should be pretty obvious that the down trend has already been invalidated.  And it’s starting to trend back up.

The volume is kinda low and declining but it’s still probably accumulating before another leg up.

https://i.imgur.com/vxNx5tR.jpg

Im not sure, its on a kind of strong resistance, if volume low its will turn bearish, but if volume high and can surpass the resistance it could be bullish.

It might be accumulation phase, when i saw the market in red for continuous days i expected the market to go down further but still the Bitcoin market is holding up above $30k even though the altcoin market took a huge dive as some of the coin had a correction of above 15% and if you are holding the top coins in the market there is nothing to worry but for new investors who invested listening to the hype might have burned themselves.