Bitcoin Forum

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

I can't compare the market to the previous years, and I'm neither going to look back instead of seeing the future. Why? Because I don't believe that history repeats itself.
It was so notifying that the market adoption increasing, the market demand continues to improve, and most likely, many had already known and use crypto this time. I ain't see that we are in the bear season because if we try to look at the market prices, they are still high and enough to be called bullish. 

yes, the bearish season will come sooner but I think it comes in a different way, and I never think it is the same as what happens before.

There are many resistance above $36k and volume is also low to make a reveral to bullish sentiment but when it goes below to $35k it quickly bounces in just a short amount of time. Market is very undecided since Elon's tweet about the environmental issue of bitcoin.  If we continue to breakdown, we could see $25k or even $20k soon. I don't know what type of people are selling these past few weeks that it dropped 50% quickly. Miners and institutions still accumulate and haven't sold yet so what really caused this sell-off bothers me.

The situation now is different and even if you found the "almost" same pattern in 2018, that can be different and hopefully, the bearish will not come. And if the bearish trend still comes, hopefully, that will not go down too deep because that can make a mass panic, especially if the price is down below $30k.

We can just prepare and wait for what will happen later, so I hope that even the price is down for a little, the price will increase back and break $36k. It seems the price can not break $36k-$37k.

I only saw what happened in history and followed the flow where bitcoin was bearish with very bad times but I also never compared it, it will happen again and obviously this will be different every year where bitcoin moves in a different way, well we'll see if the trend is bearish will continue to be sustainable because of FUD? obviously it's still confusing but i see the price is now pretty strong $36k and we can only redeem $40k to go on and on, but what can we see some people continue to destroy the bitcoin price I don't know what to think it's clear they want to buy low while this community remains high.

With the different dynamic of the current market compared to 2018 drop, these two category of investors are what would make the difference because they believe in the technology of blockchain but the little investors are those setting up sell orders because of fear. Usually, fear is what causes further drop in price. The price has been hanging at $35,000 and $36,000 but if further bear begins to happen, that will be because of fear for waiting for bull which isn't coming up as quick as expected. Again, Elon musk has caused more bear to the market with his tweet that caused great drop in price of bitcoin.

Alot of people here always make a comparison of bitcoin history when market struggling wherein they're always looking for an issue just to have a topic and to gain opinion from others even though despite they are not really sure about it as well.
No offence mate but it's hard to understand that bitcoin now had a good improvement since 2018 so how comes it will repeat history? Just imagine almost 3 years and it will repeat the history, even we say it's possible to happen why 2018? I'm wondering.

Look at the bigger picture with weekly candles. The bull trend will not be broken even if the price falls to $20,000. I am not calling for $20,000 but it is possible bottom of Bitcoin in this correction. Several months after May 2021, Bitcoin can make us surprised with its new all time high.

If history of 2018 repeats in 2021, Bitcoin can drop to $20,000.

It can be compared with 2013 bull run with double tops. I don't see similarity of 2017 bull run and 2021 bull run.

We do not have a lot of history to check whether these formation will give you the same results, in short the data available is not that great to plot these patters and make a conclusive study. I can very well tell that this time around there are a huge number of institutional investors who were pumping money for a long time and the market depends upon how they are going to view the market, if they are once again investing heavily then the market will rally if not if they plan on booking their profit then what you said will be true.

Take your own action basing up with your own analysis because not all people would really be following on someones calls even though analysis is really showing it because majority does know that there no such thing about precise prediction.

If you do look some patterns which would be the same on that 2018-2020 bearish market then do things on what you do seem right but of course
it wont really be precise no matter what.

Securing your position or selling out while its early before bearish market comes or would simply just be ignored.

Well, it's not just you that are worried, too early to see the bearish sign, but let's just be optimistic and hope that in the next quarter or two, the price will somewhat recover and hit a new all time high.

Yes, everything here is interesting because the market is fairly young and we will see a lot of similar patterns. But it doesn't mean it will hold true though. Again, we have a long way to go till the end of the year to gauge if we really in bear market or not.

If it were bearish then price should have fallen down below $30k by now instead of testing the bottom over an over again while setting higher lows and keep going back towards $40k testing the resistance again.

Also comparing this with 2018 is naive. 2018 was the product of a gigantic bubble that had to burst and lead to a very long bear market as the last step of the 4 year cycle. While this low price is just the product a large scale FUD campaign attacking bitcoin to push its price down despite the bull market.

Bitcoin did not go main stream in 2017 and 2018 but it did in 2020 and 2021. It will continue with this trend and naturally it will not stop.

FUD campaigns are used with bull market to give corrections opportunities to appear. People will have to familiarize with FUD campaign if they are Bitcoin investors. Lastly the four year cycle would be 2021 not 2020 and it has passed only half of 2021.

Bitcoin needs a wall of worry in order to climb the price. One thing we were missing was bears and it seems like we are now starting to collect a few of those. Once more people are bullish and putting in shorts we might be able to squeeze them and see a rocket to the moon. With countries accepting it now, $200K is really just a matter of time.

The history will repeat, but with a different scenario. The bear and the bull will always come back to the market, but the situation will be different than before. Perhaps, what you saw in 2018 can happen again this year or next year, but the difference is bitcoin price will not be at the same price.

Perhaps, the pattern will be almost the same, and you can think that the thing will happen again. But I am not sure if the following situation will be the same as before, we really don't know, but we can predict and speculate for that. If you are not sure, it is better not to enter the market and watch the price movement to know when you can enter the market later.

Don't worry. If you've been on the market and witnessed the 2018 bearish run, this time it's a better run that you shouldn't worry about. The 2018 bear market was totally low compare to what we have. There's only around 50% of the total drop from the last ATH that we've met unlike on 2018, it's more than that. And the price was too low compare today. We're already familiarize with the market but if you're long term, you don't have to worry with all of it.

Seems that the price has fallen to $32k right now. I was thinking that it was due to the news that DoJ has somewhat break or seized the bitcoin that has been paid to the Colonial Pipeline hackers that's why the sudden free fall again.

In any case, before this we are already in the bearish trend, but we don't need to panic or worry. Again, this might just be a big test for us, so just HODL, we are not losing any if we are not going to sell.

Something created panic selling on the market,and the lack of buyers caused the price to go down.
There aren't many bullish signals on the market lately,so every bearish signal creates insecurity and pressure,among the traders that have weak hands.It doesn't matter how insignificant the bearish signal is.
I don't believe that the news about the seized Bitcoins from the Colonial ransomware hackers created panic on the market,but it seems that this news have some impact over the Bitcoin price.

So if this is the 2018 run come early, then we can see another super rally in three years, which is 2024? Sounds like the cycle aligning closely to the halving for sure. Bring it on, laddies.


Or maybe just more people selling than buying, like a normal reason for a market to go down. If you weren't able to hoard at opportune prices, then your prayers have been answered.

We should all be pleased!

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.

Bull market isn't over if you looking the chart from this early year until now. We are still up more than 100% from that, but if you are taking the chart from ATH which was $64,xxx surely we already on bear market right now. Depends from you, you can sell your btc right now and wait until it reached the bottom or just HODL amd buy every dip as much as you can

It's not really a dump-ish pattern, more like just a correction period instead. Granted that a small dump here and there due to FUDS happening isn't unlikely, it isn't the main reason as to why the price went down from $50k. Besides, realistically speaking, the only thing supporting BTC up on $40-$50k above was the hype, the travel that it went from $10k or so to $40k in around 4,5 months. The correction was bound to happen sooner or later. It's like seeing something standing atop of a visibly feeble foundation, which, however, stands on a sturdy one. So if it falls it won't go down completely.

If that so, prepare for the other lower price. You can buy many bitcoin this time so you need to make sure you are ready with your wanting price and place it right now before the price is down. Maybe you can set a much lower price to buy bitcoin and do not buy at once because we do not know how deep the price will down.
I am sure there will be a time for the price to recover, which can happen this year or next year.

I don't want to buy bitcoin. Bitcoin is dead.

Gold.  Physical gold only, stored under your personal control, backed by lead and lead projection devices.

Merited for relentlessness.

One day later....
This is why predictions should be made without involving numbers..
It might go down and it might go up, at least with this you have a 50/50 chance of getting it right when you're doing it with 36,35,34,32,21 you might get it wrong twenty times in a single phrase.  ;D


It went down from 64k less than two months ago, and it's now less than half of that, if this is a "correction" I wonder what's a dump pattern in your view? Sub 100?


No, it's not that alone. That news would not make any waves in the bitcoin community now it would matter to investors, the problem is that the momentum was lost when Musk decided to crap on it and the other is that the momentum itself was half created by Tesla, no matter what deniers want to say, the moment of the announcement we jumped 10k in a single day from 36k. We're back below those levels and everyone is cautious, everyone is waiting for something, hell, even the mempool is empty, like a true bearish hibernation scenario when we need something really solid to rock the markets again. We only need a spark but, everything misfires at the moment.

For now there is a value down, it does not mean that it is going to fall much more than $ 20k, but it is seen that many are entering Short:

https://i.imgur.com/cHDpj4b.png

Source: https://cointelegraph.com/news/bitcoin-will-dip-to-25k-if-this-trader-s-20-crypto-crash-forecast-comes-true (https://cointelegraph.com/news/bitcoin-will-dip-to-25k-if-this-trader-s-20-crypto-crash-forecast-comes-true)

For now it is a clearly bearish feeling, but you have to see that investors may be waiting for the ideal time to buy in the DIP, the lowest the price more buy the Hodlers, I think this correction is strong, but recovery at any time It can occur.

Everyone is afraid of an upcoming dump, and here I am excited about it! I mean I do have some money in crypto obviously and when the price goes down I am sad about it, but I know that I will be able to buy cheaper and when it goes up I will be richer. That is the only thing I care about, making more money and I already cashed out the amount I need to survive living, that is the important part because you should never put money you need in crypto or in any other investment, but when you do not have any type of problem with the money in the crypto world, you do not have to withdraw it and all?

In that case drops are good because it can never go up forever, it has to go up but then down however it will then go up again, so we had the up, we got lucky, I sold a few, then I will buy some more at bottom and then sell at the top, this is how you make a profit.

Yes, lightning never strikes back in the same place.
It could be different this year.
I do believe Bitcoin already gained too much and it wouldn't hurt so much even if a bear market happens again. Although I don't really like the idea.
The sooner the value of it getting stronger the better. Bitcoin dominance should stay at its place and cannot be overtaken by any coins or the balance will be tilted.
I think it's just resting because even with all the FUD's that had been spread it doesn't let go of $30k.

The price had bottomed at $30K+ thrice an indication that the bears couldn't break the support at that zone however that does not mark the end of the bearish run. There is no clear signal of the bulls taking over the market, we can continue to buy at dip while Traders can scalp the market to earn some profits, I hope the bearish sentiment end now because the market had experienced a turbulence period which like a survival of the fittest.

We have recovered from that near $20'ish, the price seems to be bouncing to $36k and a huge gain at 13% or more in a day. This might not be a clear signal that the bulls are back, but at least we know that at anytime, the market can spike again. I can't remember the last time we have this kind of increase in a day, so it's a indication that at least the bears are not in full cruise control.

The price to watch is $40k, this is the big wall in front of us. If this is broken, I would say that the bulls is likely have control of the market again, so let's see.

That is basically what the previous situation was like as well. Back in the day we broke over our ath and reached 20k, but we dropped to like 3k levels, which means it was around 2x of the previous ath, our previous ATH was 20k, and now we are under 40k but we are doing fine, over 30k, so it is "about" the same. You do not drop under previous ATH after you reach to a new ATH, that is how the bitcoin bull runs have been like for the past 7 years or so and I believe it will continue to be the same.

I hate to create these type of patterns I just made because I think bitcoin does whatever bitcoin wants and there is no pattern but when you look closely you will see that even if not patterns there is a good amount of hope and agreement in people that causes these type of things. Like maybe we will reach 200k or so next run and be over 100k even when we fall type of things.

Well, yesterday's dump has completely recovered. Today BTC pumping hard and made a high of $36,700 and is now back where we were 2 days ago, so lets see if BTC can hold and turn these levels into support.

---

Wait, let me guess. Science and math?

Precisely

The possibility cannot be discarded, even if I do not think we are in a bear market yet if I am wrong then it is obvious that an even further reduction in the price of bitcoin may follow, however I think that what it is happening is that the whales are slowly accumulating coins and they are in no hurry to make the price to go up in value and they may even let it go even lower than the current levels just so they can get even more coins for their fiat.

Would you like to put money on it? It would be my pleasure to bet with you. ;D

Bullish market is good one for the investors.Because they can get the profit from it.They may lose huge money from the old trading.It may happened by the bearish market movement.The traders should not think huge and lose the profit earning chances.Bearish and bullish market will happen simultaneously.Don't worry at the good times.

what you say may be true but some may not say it's good, because it just depends on the situation someone has experienced in the past, so it can't be taken and beaten all the same.

right now we are experiencing bearish and that is a common thing in crypto, bullish or bearish is something that will be experienced and it just depends on how we prepare with good analysis so that big losses do not occur.

but the market is still good especially when viewed from bitcoin which is quite stable during this month and he is starting to prepare for an increase and it does take time because it will go down and up, in time there will be a jump that bitcoin makes to continue to increase until the end of this year.

is this the bearish that you are talking about?

https://coinmarketcap.com/

I don't think we can call this as Bearish mate after more than a week of your post.

Triangular ? you should share the graph here for formal checking .

because i believe that you are only Fudding here lol.

exactly that is the bottom and now climbing back to the top so there is no bearish coming.

A good analyst predicted that when Bitcoin doesn't above $30k before July 1, 2021, then Bitcoin will have a long beark market until it reached $14k. BUT if Bitcoin is above $30k before July 1. Then we have a wonderful long bullrun for Bitcoin!

I think the most important barrier is $40k, our attempts have been rejected, specially around $42k, this is the price that most speculators are looking at, because it we broke that then we will be on a bull run cycle again.

But as I have said, we are not breaking any of this mental barrier, but I do believed that we are going to maintain above $30k this July. If there is no support at $40k, then we have enough at $30k-$35k for now.

$40K is not that important what is important is the $42-$43K area. Reason why because a few months back $42K was our old ATH and later on when we broke it and then started to dip, we went to $43K, and when we broke down last month and hit $30K we bounced all the way to $42K and got rejected again.

People are bearish now according to the funding rates so I am assuming we will get a huge squeeze if we break $42-43K. However the markets lately have no volume, so I don't think we will break ATH until at the very least Fall or Winter of 2021. You can tell just by looking at the low fees for bitcoin and ethereum transactions.

We have been seeing higher lows but the uptrend is not yet that strong to break the resistance. The last low was with a lot of sell pressure but a very small drop at $38095. If price goes above $40k again the next 48 hours the upward triangle could be completed and the breakout will become more plausible.
In any case there is still not even a single indication of a bear market as before and we are either going sideways some more or turn into bull market real fast.

Anything can happen as the market is really volatile, everything depends from how the acceptance will proceed.

We are on the halfway now with that prediction and so far Bitcoin still standing above 30K, there's up and down at the moment, Still

possible to dump down or also very possible to pump if more news will come up and bring the bull momentum a strong support.
Still needs a huge amount of patience and trust while waiting for our investment.

and again the market doesn't seem to be able to break past $42k again but it's rather obvious since going to $40K the market already trying so hard so for it to go below $40K again is to be expected

but i'm fine if the market just doing sideways around $30K above as long as it doesn't go below $30K, I'm anticipating for the next bullrun to start from around $30k then we can hit $100k. im gonna go all in and if the market dumped, then I guess another hard hodl round.

As long as the price of bitcoin stays 30k level mate there are no chance that bearish market can be established .
but once the value return down to 20,000 and below then this will change the views and may consider to be the lowest and the bear is really under taking over.
but until that time comes bearish movement is just a FUD to tackle.

Amen to this.. If you are going to check Bitcoin from the 6Months timeline, you will see the bitcoin is in crucial decision making path either bull or bear. If Bitcoin price close below 30k before July 1, we are going to crash to 19k. If not we will have a happy and long bull market for 2021 and 2022.

Bitcoin price is still above $30000, and I don't think it's bearish yet, I don't know if it's on its way,
but if according to Bitcoin price analysis if it's above $30000 it will remain safe from bearish and bullishness will continue,
how will the market reaction later we have to stay watch it

Yeah, several attempts and yet we still fail, not blaming the investors though, but it is more on those speculators, who are going to sell just to make instant profit from $40k-$37k.

Strong support along the $30k mark, I do hope it will hold, we are now sub $40k again and the movement is quite on the sideways. Another negative news might sway it to $35k or even lower. We are not safe from $30k, although as I have said, there is support but we can't never really tell.

I think that for now the movement of BTC is being bullish, I see very far that for now it is bearish, in this sense the BTC has a considerable volume and it can be said that the bulls are making a great effort so that the price recovers. faster, for ender if the bulls make the price rise a lot, it will cause many emotions in people making them buy and buy for those who entered "short", close them and the rally is stronger, since the FUD has dropped , and the bears have taken good profit.

https://i.imgur.com/9MRdbVZ.png
tradingview.com

Seeing it at 4h the outlook is realent good, you can see that it can give a good bullish surprise, if the whales are activated to give a bullish movement, we could see BTC at levels of $ 50k- $ 60k giving a great recovery.

Yes, I think the bulls is trying to get back the market from speculators and those who short BTC right now. Saw the price dip as low as $34k if I'm not mistaken, but in the last couple of hours, it seems that there are buy orders pushing it to $36, and that is on a weekend. Usually I observed that on Sundays volumes are just so-so, but today as you have said, we have considerable volume so that's a big surprised. It could be an indication that bulls are still there, just need a little push to get back to at least $38k.

I can't really predict the movements of Bitcoin price. It is open for surprises every time. When the price started going down, I started thinking like that was it and we were completely in the bear market. The price went down to 33.4k dollars in the last 24 hours. But suddenly, it started rising again and reached nearly 36k. Now it feels like the bull market is still alive.

Bitcoin just hit 40,000$ and crashed again. That is the new resistance level bitcoin must break to exit the bear market. Once this happens the market should flow like it was doing before the clown Elon Musk launched his unfortunate tweet worldwide. With so many positive adoption news like the ones from El Salvador and Paraguay it's a pitty bitcoin continues so bearish.
Maybe investors are fearful because such news are only speculation for now and will only have a real impact when the legislative houses pass the projects to executive's sanction.

Usually on weekend there wont be much of a volume and if you think the volume was well above than normal circumstance then we can see how the market will react in the next 48 hours. I am not expecting a huge push right now and i am expecting the next couple of months to be silent and then we might see a rally by Q4 and that is my expectations  ;D.

I find it normal when the price moves up and down from $30k to $40k and the $40k should be the strong resistance but no one can break it yet unless there's a new institutional investors put a great deal to invest millions of dollars to Bitcoin. One of the reason why we aren't still in the bear market is people learned to hodl instead of dumping straight to cover up their losses.

Only weak-hands can dump straight to the market without thinking the other possibilities on how to recover such losses then complain after they have lost several dollars for their investment.

The resistance is strong enough to prevent all sorts of negative speculations, but if history repeats itself then it's way too early because year 2021 hasn't yet ended. We may go a long ways to see more fluctuating markets of btc, and though there's fear of bear market that's always a normal emotions for now. We will overcome all those battle that we're facing if we're able to survive.

Show us a detailed explanation or even a picture of the graphs.
I don't really understand what you mean by 'similar triangular formation'.
You may view it wrong, or just panic because of seeing a decline in Bitcoin price currently.
If you describe it in a more detail and with a graph picture, we can see it together whether you are right or wrong.

Note that history doesn't always repeat.
We may have a different scheme on the current bullrun season.

I don't think there's a repeat itself that will happen, we saw right now there's resistance after another dump since yesterday, the price could remain at the $30k range in the market, and that range will play longer.

I read more about adoptions and the country's legalization lately but it has not an effect on the market I think.

I'm still being positive about my prediction and I don't think a bearish trend will come and the price goes beyond $30k.  I saw a lot of good news outside and this fundamental analysis might have also an effect on the market.

Right now we have basically a head and shoulders on the daily/weekly with the neckline being ~$29-$30K and shoulders being $42K with $64K as the head. Currently many traders are going to be trading this area of interest.

Most likely if we break $29K strong and don't close as a wick, then most likely we will see $25K perhaps even $20K later on. If we break the $42K with strength then we can easily go to $50K and most likely there will be strong resistance at $48K and $56K because that is where most the volume was traded and many people are holding the bag at those levels. Most likely out of fear they will want break-even there.

What worries you? because your holding might lose value in fiat? if you felt like then better sell it now or else you'll cry sooner .

but keep in mind that the amount of crypto never change in your possession .

Is it really comparable ? or you are just starting to panic that's why you keep looking about what happen in 2018 and what will happen after 3 years?

Bitcoin is at 35k$ and i see the market is full of red means most of the coins are dropping at price so I believe that maybe bearish market is on the way. We need to always look at the market because there are still a posibility that the market will turn into bullish again I believe that the market will be change to bullish again before the year end.

I think $30,000 to $40,000 is a dead price for Bitcoin, where if we break the resistance line we will return to the bull line and will continue to the $43,000 price. whereas if it flips below $30,000, then we should be prepared to secure the coin's stability in the long term. because FUD recently undermined the price stability of Bitcoin in the market.

I don't what makes this market correction happens for a few days. Bitcoin continues to move down at $32k-$33k level, I thought it recovers back shortly but it looks like someone is pushing it down? In fact, if we hear about Bitcoin's legalization in some countries, I supposed to think that it lifts the market back high again. However, it becomes unfortunate and feels no impact on the market price.
Or this the result of China's ban crypto mining industry in their country, which might close to possibility and the reason for this huge decline.

Simply people taking profit and there isn't enough hype to cover the difference. 40K price will happen again, and if there is no hype that means it will drop to these levels again too, what happens is that there are people who buy from these prices, then price reaches 40k and stay there for a while and because it is not going any higher than people end up selling it and that causes the price go down.

What we need is when we reach the 40k price there should be some hype to make the price go up, that way we would end up with something profitable, I do not know what could make it happen but when we are 40k and some amazing news breaks out and suddenly everyone buys could make it go up, aside from that the only thing that could make bitcoin stay there would be some equal force to all the sellers, as long as it doesn't go beyond 40k with some hype, it will not stay there, it will always drop.

We are close at the bearish end.It's the time to hold.Don't get panic and sell at the less price.Many pump will come in future.Even we will find the pump at the bullish market.For all that,you need a patience till the end.Patience play a vital role in the price of bitcoin and all the crypto trading.Traders will get good profit at the good market.