Bitcoin Forum

We have entered the second year of a Bear Market (https://www.trustnodes.com/2022/11/20/bitcoin-enters-the-second-year-of-bear). The market moment we're in has found its support at the peak of 2017's Bull market.

There are those who think that it can still go lower, but the majority agree we have reached a bottom as the selling pressure is losing momentum.


Theoretically, if Bitcoin is able to hold the support at the peak of 2017's bull run, we may see a reverse in the bearish momentum and the start of a new accumulation phase.

I say this phase has already begun. So, what do you guys have to say?

The falling pattern is very similar to 2018 falling pattern, just that it was unexpected that FTX customers fund misappropriation would be the cause of what we expected in November, but it happened and the price declined further, but just that bitcoin price did not fall much more, but many altcoins suffered significantly with most price fall. With what I think, the price of bitcoin has falled significantly from all-time-high, even if the price would declined further, it will not be significant which means it is advisable to buy now, or better just DCA. But to tell if the bear market is over, I do not know, but it is getting closer to bull time.

I'm not a big fan of chart patterns. It's because I believe Bitcoin reacts in real time. For example, if Elon accepts Bitcoin for Tesla again, the price will skyrocket. On the other hand, if major investors announce their intention to sell Bitcoin, we may see a massive drop as a result of Panic. So how Bitcoin reacts is dependent on various of attributes. So, instead of relying on chart patterns, consider the real-time situation. Because the market is so volatile right now, it's difficult to predict the button.

Totally agree. And I even add that the altcoin meltdown money is fleeing into Bitcoin as we speak. The capitulation of many altcoins is nothing new, it has happened several times before.

In fact, I believe that this happens because smart investors are on top of investing in the early stages of tokens\ altcoins launch and end up dumping their stash as soon as the coin hits an exchange. In the process, shitcoins get wrecked and the average joe believing in it gets smashed. The money gathered from the blow is then channelled in for the next blow while they channel part of it back to Bitcoin.

Ok so I am not really into trading but if this is right technical analysis then I just hope it is to be true. At least it will break the panic situations for the people around us and we can get back to the normal life. Lolz. For me bitcoin price do not matter as long as we can have it circulated for its current value.

Moreover, I am happy with the bearish market as we can keep buying more and more for time being. Anyways, halving is also coming next year and we can’t deny the fact that it’s gonna have severe affect as well.

Those that have been with the 2018 bear market and now experiencing to see the bear market. We're not that worried much because we're looking at the great turn around of the market for which the possible lowest at these times was the ATH on 2017.

I'd say that if this is going to continue for at least a year or two, we will definitely see a different bull run again by the time it comes again. And I'm sure that all of us are going to love it and those that experienced this as their first bear market, they'll for sure going to lock their profit if that time comes.

Buying at a cheaper price is always a good idea, and I believe we are already on this level where many able to buy at a cheaper price and some are so eager to get more. The market bear trend seems slowly becoming week, but due to the panic of negative news, bear tends to stay for a while. After the panic and fud, I believe the market will start to get its momentum going up, so preparing right now is really good.

I totally agree with your thinking, I think chart analysis to predict bitcoin price doesn't work. Bitcoin not only depends on supply and demand but bitcoin also depends on a lot of factors and sometimes most of it is manipulated or made in price by some influential actors in the market. Just a tweet from Elon or CZ the market will immediately react, chart analysis becomes useless. We can analyze charts, sharks can too and they are people with money, they can manipulate the price to their liking.

Sometimes I'm confused about which I do believe, relying on the chart and doing technical analysis or thinking about the fundamental result which reacts in a real-time.  We saw how Bitcoin price reacts when there's big news coming, from awareness to adoption which makes the Bitcoin price react and I think there's no such technical analysis that gives accurate predictions as of now.

There are a lot of theoretical speculations about which use of graphs and technical analysis, but in the end their advice is to do DCA way of investing in Bitcoin because it's the safest way of making profit and never sell when the price is drop.

It is the second year of the bear market alright but, its hard to agree the market has reached its low just yet. Not so long ago, we established the low to have been reached at $17k and watched the market gradually rally up to $19k and $21k. The market continued to circle around there for a while, giving investors hope that, it might continue and then go up and in the event of a fall, the market would meet resistance at $17k but, it broke that and went lower.
It could still repeat and until a bull market begins to materialise, you never can say.

Mean while, you accumulate when you can and not make a season about it. What is most important is, trying not to sell unnecessarily.

Actors can still influence the market under any circumstances because they actually have control even though we can see this market is more inclined to decline and there is too much speculation about what they say about market manipulation, about this analysis chart pattern we cannot fully rely on us just comparing to some of the past history of this pattern where the market would break out of the bearish, but I think it's a little different for this year and going forward its more drama about them being able to scare the market and it's making everyone panic.
The accumulation phase is not completely out, we are still trapped in a pool of blood.

Long crypto winter for me until the Bitcoin block halving. Especially the year 2022 is coming to an end, and we expect the year 2024 will be the year of the Bitcoin block halving event.
So for me, during the year 2023, it's gonna be challenging for the entire market. Yes, accumulation for me is for this year, I believe, especially since we already fall below $20,000 and Bitcoin is having difficulty regaining this area, we are now in sideways.

We don’t know if it’s accumulation yet, we have been here for only a week. Accumulation is when there is basically no movement and people just quit crypto out of boredom, similar to early 2019 and most of 2015.

It seems we actually might chop around in this area. If we did it would be good because it seems like a decent bottom. However there is way too much macro risks right now to know for sure. Going to be a busy month.

I still believe that the bottom was reached months ago which means any lower price we've been seeing ever since then is making bitcoin extremely undervalued. If I wanted to be generous I'd say the bottom was $20k (bu I believe it is higher) so the current price is an unnatural level exactly like a couple of years ago when price entered $3k range and that too was extremely undervalued.

As for accumulation phase, right now it could happen at a discount. People who have fiat to dump, are enjoying this time since they can now buy more bitcoin with the same amount of money.

The reversal however is going to start only when the Western economical crash starts slowing down and the recession stops growing. Until then, each time another industry shuts down or fires its employees we will see its effects (even small ones) in bitcoin price.

BTC is probably going to 13K, then 9K and so on.

It doesn't look fine. Oh no, it doesn't. Losing the 16k area is like walking on thin ice. It may break at any moment and drown down to 10, 9k yeah, if not more, as panic may take over and we may return to 2017 prices...
Apparently thing are really not looking good :(

Here's (https://beincrypto.com/famous-analyst-make-it-or-break-it-time-for-bitcoin-btc/) something to take a peek about this matter.

I'm done buying Bitcoin and I won't do it again but wait for the recovery as my last option. I couldn't think really how huge the impact of the latest big issue of FTX has caused a huge market price markdown. This is the real bottom that most people are saying and they are right that the price may sink to $15k. But, I was still optimistic about the future recovery of the market to believe that it comes sooner.

I could still remember those days when Bitcoin had reached below $5k and still it recover and make another ATH recorder. That is why I still have my faith and to keep holding.

Well, as of today we lost that support and if we tend to go back at history just like what 2017-2018 did with -84% drop, then we'd be havind that $11k-$10k level. I'm not saying we will exactly hit these levels but fundamentally there are still a lot of factors to consider before we hit that capitulation wick.

Just want to say, it will be hard to say we bottomed already, a further below is what I'm expecting. Remember that winters in the bear market and we have still one month before the year close and last time in 2018, December was the month we hit its ATL.

But it has possibilities to happen so I guess we need to watch how the market goes if we want to take advantage the current drop that might happen since if we just ignore it then maybe we will just waste the good time bring up by this current bear market situation again.

So hard to tell we are really at the bottom since the price still slowly dumping so maybe we didn't see the worst yet so I guess we need to be cautious on what will happen on last month of this year since to see some snapshot that might happen next year.

Chart patterns do work but its best effect is on short term plans. Supply and demand still play out on chart pattern movement where we find major support and resistance area. It is just that chart pattern traders just need to pay more attention to fundamental news so the don't get cut up by sudden events that can shift the direction of the market or cause more drastic move in the current direction.

It is possible to make comparison with the previous market movements and make predictions. We can't be sure that the market will have exact outcome as the past. On such a note, it is really hard to predict the low bottom. For users to take entry it is good to go with DCA. Rather than waiting for the low bottom investing at the ongoing market could help us to be on the safer side than missing opportunities with unexpected market reversal.

Not sure if this is already a botton or there will be another bottom, all I know is that Bitcoin will bounce back after it hits its low so holders shouldn't worry too much, and keep accumulating as much as they can because this low price is only a moment in price going back to $20,000 or more.

If you are actually looking to accumulate then you can't say that phase is out with these little pumps and now we are still at $15k so this is best price at this time for investors but few months back even $20k seems too low and good opportunity.So it all depends on time and those who want to invest in long term they will be in profit at $30k or above also so don't overthink about these chart pattern.

Maybe, the bright side I will keep accumulating Bitcoin regardless the price until Bitcoin price hit $50,000 again! It's pointless if you wait Bitcoin price to hit 13K, 9K or the exact price that you think the lowest that Bitcoin would hit, because you might not buy the bottom since you're only waiting!

Accumulating phase is still going, I wouldn't stop to accumulate Bitcoin since the price is really cheap. I've regret myself didn't bought Bitcoin at $3K when pandemic was happen and everyone are panic.

Well you pointed it out --there is no phase-out on bitcoin, considering it is good for now to accumulate while bitcoin is very cheap in the market. I have been confused before about what is buying through DCA but now I have learned what it is and it good to start using this strategy. Perhaps --many new investors of crypto did not know this while others a grabbing the opportunity to take advantage of the market condition, if you believed in bitcoin you did not hesitate to put your money as an investment.

Do not regret it, perhaps the market will give you such an opportunity again. We can continuously look at charts, on the basis of which we can make our assumptions about the further price movement, but in the end we understand that the market is irrational.

It can be true because there will always be bear cycles right after the bull cycle is finished but we are not sure if the same price are going to be achieved again but I think seeing that $3k drop is hard knowing that the adoption rate is also rising time after time and people are getting smarter day by the day. They won't repeat the same mistake that they did in the past which is selling when the market is in bad condition but they will only buy more coins.

We know what can happen when this was practiced. Right, no more further dumps are going to be recorded but only just a recovery and an increase. We need to move on, we buy at a not-so-low price and think about how high btc can go instead.

Yes it has started for sure. And it has started a lot before than this month i feel it started in June/ July only when market dumper towards under 30k. I feel this is going to last for 1 more year before we move towards a bullish phase. But at the same time I don't think we are at the final bottom i think after this accumulation phase we might have another final bottom which would act like a trampoline towards the new highs.

Well of course, i for one consider every phase as being fit for accumulation, it only depends on the kind of investor one is, if you are a long term investor that's not going to be scared when there is a correction phase or a big plunge, then accumulating whenever you want through DCA is good enough. Having said that, do not regret anything, it is what it is, if you didn't buy at a particular time, then you didn't, it is not coming back, and there would be quite a lot of opportunities to buy in the future, it is now up to you to take them, but from what i know many people complain of missed opportunities when one is staring them in the face and they are about to miss it, and complain about missing it later.

They just have to take this example that when people have been accumulating at the rate of $30k-$40k, we've told that it's the best time to buy because it's the lowest that we've seen at that time.
Now, we're also going to say the same thing and while those investors have bought at those prices, they have to look at that point that they're looking to bitcoin at its another lowest point of its price.
If people have been keen buying by x2-x3 from the current price, they should get themselves out and start buying when it's visible and low compared before.

I wrote earlier that it is necessary to wait for confirmation of the reversal, and not buy every time the price reaches the next support level. In this case, we cannot get the minimum purchase price, but we are guaranteed to buy when the market begins its bullish cycle. Currently, I also believe that the bear market is not over yet, but you can start buying coins using DCA.

This accumulation phase might be the biggest one we've got so far, because I do think we still have a bit more leg down side to go from here which will extend till 2023, looking at the Fundamentals of Bitcoin right now no changes yet, The Fed is still raising interest rate and rolling off its balancsheet and the market is taking a hit , Therefore we need to see the fundamental holders of Bitcoin to start getting stronger and stronger again , that will be the start of a new bull market from my perspective.

Agree with you, Bitcoin price growth will not be the same as in 2017, I think Bitcoin will move again in a new way. At the moment, many people are (Bitcoin)saying that you will have time until March 2023 to organize everything. If you want, you can save Bitcoin by following several steps. Although there are several steps to follow and you need to decide how you will build your savings, following a few steps will definitely increase your savings.

I would guess that it was not a "bad" advice at the time, and the fact is that accumulation is something you do constantly, which means that you could have bought at 30-40k but then bought at 20-30k and now at 16k and keep doing that. It means the idea is not to just find the bottom and buy many there, the idea is to buy as many as you can when you have some money to invest, and do it instantly so that you have more bitcoins.

As long as you keep doing that, eventually you will be in a huge profit and that will be great for you. I am not saying it is going to hurt you or help you, but it will definitely allow you to make a profit in the very long run.

I agree, investing at the current stage is obviously amazing, but if you got in at 68k then investing at 40k wasn't bad either, and investing at 30k wasn't that bad at all. I mean that's not even a %50 loss, which means a simple x2 would make you profit right away and in the crypto world x2 is nothing, it could be done within a day. I know we haven't seen that in a while and people already forgot it, but the last bull run was about x15, just try to imagine what would be if we had x15 right now from this price, about 240k dollars per bitcoin. I am not saying this will be what the next bull is, but that's viable and quite possible at the same time.

This is the reason it's best we DCA when buying Bitcoin instead of putting all our money in at one buy. Those who had bought when Bitcoin when it was trading at $20k would be regretting now because they would had gotten a better deal buying at the price it's trading at now. I don't think the accumulating stage is out as well.
We still have opportunity to DCA at this price and if it falls further then we buy more. Also a long term target should be $69k as that was Bitcoin previous all time high. Selling it at a price lower than the previous all time high is the sellers lost as Bitcoin is going to be trading above that immediately the bull market starts.
Anyone buying Bitcoin now should be looking at taking profit in 2025 as by then the Bitcoin halving would had been completed in 2024 and the price will be pumping due to not enough Bitcoin been available for the demand Bitcoin will be having as more adoption comes to the industry.

It could be that this phase has started but I'm still not sure because bitcoin's movement is not too significant and tends to be in a sideways direction. Maybe the selling pressure is over and the investors have been doing DCA for a while and now is the time for the bulls to come back into the market. But will that make the price immediately jump to a higher price? I don't think it is certain because there is still a possibility that the bitcoin price will drop to a low price again. But whatever it is, I'm still trying to follow the bitcoin price journey and whatever happens, I'm ready ;D

I had "predicted" that Bitcoin was capable of crashing down to $15,000 levels a few weeks ago. We're not that far off the mark. Honestly, I believe that we've reached the bottom; even if we haven't, I doubt that it'll lose too much value from now on. As others have already mentioned, this bear market does look quite similar to 2018's bearish period. I didn't survive the whole bear market in 2018, but both periods share a few similarities. We're now slowly entering the second year of the bear market, which, in my opinion, is bound to last at least one or even two more years.

Accumulating Bitcoin now is essential and way more affordable than it was a few months ago, especially after it plummeted below $20,000. Let's see who survives without selling until the bullish period.

I see it from the point of view that we are in a re-accumulation operation and that we must know how to interpret it, for me the price of Bitcoin will always be upwards, but according to the fundamentals of this world they have caused the price to fall, it is something normal, if there are rumors of wars and if there are attacks from one country to another it is obvious that investors will panic and stop buying and selling, it is normal, despite the fact that many market processes are given by bots and by elements of technology achieved, the owners of money are human, and nothing else for that, the fact of feeling emotions and panic makes the market move.

Don't put fear on yourself because there's law that stipulate that whatever that goes up most surely go down, what i believe is that cryptocurrency and especially bitcoin still have long way to go, the price of Bitcoin falling daily doesn't mean that Bitcoin will not go up again, despite that the experience we had in bitcoin price now is different from the other years experience of Bitcoin decrement, but it's obvious that price Bitcoin shall accelerate to a good point.

Selling pressure was losing its momentum when we touched 16k USD but the sideways trading continued meaning a buy/sell correction was going on and to cause the reversal of the pattern more buying pressure was needed at that point. Eventually 17k was reached and price is hovering around that range. I do expect the reversal to happen now and gradually the price will go up.

Though the year end is upcoming and we can always expect another bear run because some cashing out occurs during this phase every year, let us hope for the best and not rely completely on previous patterns.

Expect the unexpected in this market and be ready with both fiat and crypto at hand to buy/sell respectively for maximum outcome if you are trading in this month.

With this type of market, it is hard to rely on previous pattern as the situation is different from previous years.
Just consider the adoption, I believe more people are into this market today if we compare it in the last couple of years.
So we can say that the demand may be different today. However, we can't determine what it can possibly do to the market.
The change is still hard to quantify when it comes to its influence in the market. We are still speculating about what may happen next.
Accumulation is always here, depending on what you want to hold and when you want to dispose it.
Just take for example, the price of btc today is still good to accumulate if you do believe that in the next coming years, it will recover its price.

I don't think he is fearful but he sounds confident so maybe he wants to buy more coins by the time BTC hit those values. That law you are saying there is true but that was mainly used outside while in cryptos we have a different law here and that is the law of supply and demand.

There are no obvious signs yet that tells that BTC price will accelerate to a good point but what most of us sees right now is stability and sometimes a decline. If I were to choose if which direction btc will go I think I will choose downwards. I may only change this view towards BTC once we successfully moved on to a brand new year. We only have a few days left, so it's now more easier to accept things that there are no good things that will happen this year.

When the price of Bitcoin wants to go up, if you are a adequate trade that knows how to interpret the chart of cryptocurrency, you will definitely know when the price of Bitcoin is about to accelerate, so from my own observation in cryptocurrency i do notice when the price of Bitcoin is going up and also going down, it's based on people understanding of the price.

I think there is still more time for people who would like to invest and join the market considering that the results of FTX collapse haven't ended yet whereas more companies and exchanges are declaring their pankruptcy. Apart from this, we recently read some rumors about investigating Binance for money laundering suspicion, these news confirm that the war between exchanges haven't settled which might lead the market for further depreciation.

More threats coming since Binance is under attacked by DOJ. This could really get worse if its not just going to end up to just billion dollar fine.

CZ being summoned could be possible while FTX is just OK. Great job for SBF spending millions to pay the government.

Price could still drop below 15k and the onles who could accumulate despite all these have the advantage to make millions.

Binance is awash with money laundering news. At Binance, Iran based companies are raising $1 billion worth of funds using the Binance crypto platform and the US prosecutor's office is detecting this. The US thinks that its sanctions against Iran have been breached but this is not certain. If the investigation by the US gets deeper and the Binance stock market is sanctioned, the whole ecosystem will be deeply hurt but this does not mean that the ecosystem will never recover. Maybe before every bull the groundwork for the big decline has started.

I would never consider it as a serious threat.

There always something to investigate for DOJ and they have that power to do so as there is no single company really clean doing their business and that's DOJ job. Things could be really in another dark days in the next few weeks but this sentiment won't change the crypto market as a whole , unlike the ftx scandal ... this DOJ looking to charge binance for potential crimes ... they need some spotlight + a tip maybe from cz.

We keep moving up and let's accumulate!

In the past halving comes far ahead of the market bottom, especially bitcoin bottom and pricing would have started to help miners encourage miner while they break even. Accumulation has begun and many institution have been very busy loading their bags

We dont know on how these news or fundamentals could able to bring out some negative or would really be just simply be ignored.We've been through lots of news lately but still the price do make a good hold
on 15-16k price point which is something that we could say that this might be a good support.

Speaking about accumulation then of course into those people who do have the funds or money will really be having the advantage and to those who dont have the capacity will really be
needing to be wise on making entry point and maximize profitability as much as possible.

We cant really determine if the accumulation phase is out or still on doing.Price hadnt move out yet that much.

You can if you look at the big picture and for long term hodlers that is important.

Logically the all time high should be shifted upwards then. More the reason to accumulate at the lower price. We have to be ready with fiat and bitcoin but our objective would be to accumulate more.

During times of positive news more and more positive news come in leading to a bull-rage. That is the time of euphoria coming in, people come to learn of bitcoin at these time but this is the wrong time to buy. Patience is what is tested at this stage.

We will remain optimistic with the data presented and this cycle will change. There's always room for low price, so it's still a good idea to weigh the risks. I myself have really focused on sticking to my initial idea of ​​investing by buying on dips and DCA, so when we get out of this phase the profits will be made.

If Q1 is still bearish or maybe sideways, then Q2 2023 is expected to be able to bring some recovery. We are currently on the slope after two mountains on the daily chart, but the next ascent is getting closer. Optimistic about this.

https://i.imgur.com/HD57hTI.png

We're still in accumulation. Q2 2023 will be better I guess.

A month after this thread is being created, we can say that we are still in the accumulation phase.

Although some green lights happened just recently, we can't say that it's now the start of the expectation of a bull run. What's the next thing to do? Just to accumulate as much as we can as we don't know if something like this, on the price level like this, will still happen in the future after a bull run.

These might be a different 4Q to anyone as they used on seeing a rocketing price during this month.

Green bars appeared but immediately red bars also appeared and led us to have another round of opportunities to accumulate more. I read some experts opinion which read like we are going to have around $30k level by the times of Christmas. So, keep making use of all available dips right now will transform our life for sure.

This last quarter of this year may act like a launchpad for upcoming bullish to sideways market of 2023. So, even for short term planners, the remaining weeks of this year might show lots of opportunities.

I don't know what will happen next year because this bearish or sideways situation will still occur in Q1 and make the price decline deeper. Maybe making a short term plan will provide a solution for us to decide so we won't be affected by what will happen in the market. And maybe the last weeks of this year will make the market fluctuate more so we can feel the surprises we never expected. We can only be prepared for everything that will happen and remember to prepare fiat to buy bitcoins.

Yes, there are occasions when predictions do not come true as expected because of unexpected events that arise despite our analysis and historical research. Since history tends to repeat itself, especially in the cryptocurrency market, this could actually be the end of the bear market. However, this time around, a lot has changed, and this has greatly affected the cryptocurrency market. The events surrounding the Luna and FTX exchange may have discouraged some investors and caused some to panic and continue selling their Bitcoin holdings. As for me, I don't think the price of Bitcoin will rise sharply just because of the word "halving block" but rather when there is a lot of demand in the cryptocurrency sector. Nobody knows where the Bitcoin price will be leading us t0,Will the price of Bitcoin will going up or coming down to 10k dollar who knows?

I personally think that the accumulation phase is not yet over and we still have some time left for it to be over.
I guess 6 more months we will be out of the accumulation zone including the breaking of this zone and retesting the support.
May be after that we can enter into a bull market. But we never know what the market has to bring for us.

Yeah, we cannot do anything about the market conditions which is the reason why we need to follow DCA. Keep buying regardless of where bitcoin market is trading will help anyone to get better returns over the times. Some people do stop investing with bitcoins when they do find prices are trading higher than their expected prices (in bullish trend) but in my opinion, we should keep sticking with original plans and same applies even in bearish market as well.

So, unlike OP pointed out, the current bearish market alone not a accumulation phase but we should keep buying from here after until a new ATH in 2025. Then we may take a break in 2026 which might be another bearish trend like 2018 and 2022.

I don’t understand exactly what kind of major support everyone is expecting? Afaik 19K to 20k is the peak of 2017 bullrun while current price is way below than that level.  I believe 10K is the strongest support because it’s a round number and the typical psychological analysis when finding strong support since the known one is already broken.

Bitcoin cycle has a 4 years cycle while the recent bullrun was just ended this year. Base on previous data, we might experience again long crypto winter that is longer than 6 months like what you are suggesting.

The market has always been unpredictable and surprising at the same time but for me, it's still a good chance for everyone to accumulate good coins, especially those who still took time to save so they will have funds for investment. The bearish season might still take time since there are still lots of economic occurences that affect it but if we'll accumulate during this season, we'll have good preparation when the bull season approaches.

In the current bearish market environment, there are more opportunities for us to buy bitcoins using DCA to control the use of money in purchasing orders. This will help us invest in bitcoin when the price is low and we can stop after the price reaches a certain price so we only have to wait for the price to reach the highest price we want.

We must be observant of market conditions to find out when to buy bitcoins. With the market still in a downturn, this is the perfect time to buy and hold more bitcoins so don't waste time now.

You'll be thinking it was a great opportunity but can't take the higher risk as well especially if you have no experience in a situation like this. The dump can't be all the time a good indication of accumulation, many people just wait for some recovery before investing. That is why I don't encourage people to invest more but also to listen to the market sentiment and feel the trend. Checking the market progress seems to be needed this time.

But of course, if you are just about to hold long-term and have extra money, this will be a good time.

Whatever the people will say it's still a speculation but if ever $10k is the final bottom then how long does this market has to suffer from the bearish trend? It's quite too deep if you'd ask me about that price but considering that Bitcoin's bottom before the bull run last time was at $3k, so it's possible that $10k would be the strongest support.

It's been over 6 months now and the market isn't having a plan to move up yet then it's also possible that this bearish trend will continue next year until it hits the bottom. We don't actually know what is the bottom but I hope you are right that it would stick to the $10k as a support.

To OP: Accumulation phase isn't out yet when the market is just like this.

Many people do not believe in the charts ot technical analysis in Bitcoin. They believe that the fundamental analysis drives everything that happens in the market.
They may be very correct about it but I want to let them understand that whatever happens in the fundamental is being replicated in the technical. So the chart might be slow to pick what happens im the fundamental but what the chart helps us to do more is to trace what has happened before (history) and the tendency of it to repeat. So both of the fundamental and technical analysis are important in Bitcoin.

As for what the topic starter is saying I am not an expert in reading chat but I do know that we are in the bottom but $16000 might not be the lowest . My expectation is at worst get the 10000 dollars which may also not happen but this is truly the period where everyone should be accumulating

This has a point. What we see and experienced right now are the effects of real time events, and not because the pattern has its own ups and down. Just like if a bigger country starts to accept and legalized bitcoin, surely it has an effect to bitcoin price. So if there are positive events happening that will create an impact to bitcoin, then as much as possible we can expect that bitcoin will certainly on the rise again.

Bitcoin can go to aby price it feels like want to be at this particular point in time, i know quite well that if the price of Bitcoin fall this year to the crash point, definitely it will accelerate to another point, which i believe that the price will definitely increase above, because it's very obvious that the price of Bitcoin is not stagnant and since the origin it has been following the method of going up and going down. So i believe that it's something that will increase any time, so let us not have bias mind or negativity concerning the Bitcoin price regulations, because it will discourage us.

Then we can say that those people who believe that manipulation makes the market prices turn up and down are wrong. But yes, it was to see how the adoption strongly affects the market sentiment and so these FUDs.

More adoption = more demand and leads to a price increase.
More FUDs = more panic selling causing huge price reductions.

It looks like it is holding and in fact we can check that the price is holding right on a support zone which we can sayis where the accummulation is being done. BTC is still trading in the support zone. So, as long as it holds the this zone we should see it go up. Now, if it breaks below the support area ($16.5k) we can see it further down. More picture will clear after the weekly close.

Now its playing around 16500-17000+ which it is really something that hard to determine whether we would really be going down or have already some change of trend.It is really hard to determine considering that

these moving sideways kind of thingy is really hard to point out which way it would go.Accumulation phase is indeed might happening as of this moment and its really good to see that the price do able to held off

with this strong support in between 15-16k which despite of the bad sentiments and news in the market then this isnt something that do drops hard into the floor
which it does indicate that there is really that demand.

I agree that holding is the best thing to do now if you already had fill your bag already but for those who haven't yet, accumulation seems to be a good position as well.

Honestly, after seeing the trend, I have no confidence that the price of Bitcoin will be rallying high surpassing $20k this month. Many had believed that December is a good month in crypto but I say now seems to fail such speculation as I can see that the price will remain in its current range of $16k - $18k.
 

What op gave to us is like predicting, and in this scenario you don't have come in conclusion that it's a true or not. So i stand to say that anything concerning cryptocurrency increment can come up at any point in time, and it's not what someone can depend on, so i believe that cryptocurrency when you expect it to rise it might rise and it might not, so nobody is hundred percent sure of it's analysis concerning Bitcoin increment and Bitcoin decrement.

There was when I was thinking that the bear phase will quickly pass away but I have realised that we will dine with the bear market for a very long time. You don't have to panic, just keep DCA-ing at your pace. There is a  whole lot 16months to DCA before expecting huge profits

2017/18 bear market was something terrible and unbearable this year 2022 market has broken the record to be worst bear market rising from $68k down to $15k which is about 72 percent lost for those who investing at the ATH. From my view bear might have ended by now but i believe it was because of the recent turbulence caused by Luna and FTX which raise lot of dust / sentiment in the market.

If you observe it closely too you will discover that the real time situations are somehow inadvertently captured in the charts earlier before they happen. That's what signals leading indicators of pivot points and trendlines do. Sometimes such unannounced "real life" movements are captured in spikes and false buys or sells. That's when you find a solid buy position suddenly turns sell but doesn't linger on the sell for long before it goes back to buy. For me, charts are like compass to navigate the murky speculative water which is the major characteristic of this industry. I like looking at charts.

Those real-time spikes also trigger dumps because they easily can be seen as false pumps for short-term traders.

I think I will also be accumulating slowly this time DCAing while many speculators are already thinking we are at the bottom already base on the indicators they use. They just can't tell when we can see spikes that can increment up to 5% in a week. 

Trading is at a slow state due to the holiday season. BTC is still trading below the $17k level. we can look at this in two positive perspectives:

1-If BTC is able to hold and got through the middle line of the bearish flag then we may see a pump up to the $18k-$18.5k level.
2- If the price starts moving down from here, it may test the $16k level again, and if it holds there, then we see an upside movement up to $18k from there.

If any of these propositions becomes true, then we may consider an accumulation phase for sure.

With more expected scandals next to FTX, I can say that the market will be more dumping and will provide more opportunities especially for newly investors to enter the market. Seems that the more centralized exchanges are going to collapse, the market will be more attractive for greater accumulation of potential coins. So everything that is happening today are not seen in the chart or patterns, but all are real life events that brought massive changes in the market.

It is not 72% lost but 75+% lost from its ATH. Check again CMC or Coingecko, mate.  ;)
NO, there is no way that the bearish season ends now or ends in the near future. You can see that BTC price is below $17k, it is even very hard to increase to $17k- $18k. How can BTC recover very soon with this condition? By the way, if we consider the 4 year cycle, we just begin 2nd year bearish season in the next year (2023). So, in theory, we still have 1 year more for the bearish season.

Luna and FTX crashes are just the factors that drive the price drop further. Actually, it is not very surprising during this bearish season.

Well, in part, what I have always done in my personal analysis is that we are in a phase of re-accumulation, of course I am saying this based on the Wyckoff method, which I have always been guided to do my corresponding analysis, this is One way to do it, for example, it works for me to apply the Wyckoff method in Accumulation, re-accumulation, Distribution phase and redistribution phase, when we are in a trend, whether it is a bullish or bearish trend, I apply other things, such as Elliot waves and I really see them with a higher success rate, so these are some of my tricks to be able to study the market.

Those who experienced the bear market in 2018 and are currently suffering it. We're not overly concerned because of the market's impressive turnaround, for which the current low may have been the ATH in 2017.
By the time it comes around again, I'd think we will undoubtedly see a different bull run if this trend continues for at least a year or two. And I have no doubt that we will all enjoy it, and those who experienced this as their first bear market will undoubtedly lock in their gains when the time comes.