Bitcoin Forum

It's looking like the bulls are back as we've seen with the more than the 30% rise in BTC's price just for the month of January alone.  But even with that high of a price increase, I still see some folks say that we're still not of the woods yet.  Surely there's some hope that we are out...  What do you guys think?

I didn't expect it to go up this high at 24k tbh.  I thought it was gonna go around 22k - 23k range, go back down to 20k then go side ways after that.

https://i.imgur.com/ruSAI5d.jpg

In terms of shaking and volatility we are not out of woods yet, and that doesn't mean we would be looking at lower bottom next. If we keep going up now, there will be a huge correction again and alts will hurt way more then btc from that. It can feel like a doomsday for sure. I genuinely hope we stay on these levels for a long time to make room for steady growth that can later turn to parabolic growth again, i wouldn't care, if it happens in 2 years or so. Right now going just too high seems like paper hands are about to be shaked off.

Answer to your question: i think we most likely are breaking 25k but i would prefer less volatility now.

Bitcoin got to over $24000 today, it is still possible that bitcoin will hit $25000 very soon, but the market can be very unpredictable and the bear time which may occur for a short time might have started, but I still have high hopes that bitcoin will soon get to $25000 which would be a resistant price.

Altcoins are more volatile, if bitcoin can get below $20000 again, it would be hard on altcoins, it would not be a surprise to see some altcoins to decrease more than half of their price now.

I voted for yes, we have seen the price almost touching $25,000 already, so it's just a matter of time before we can go to that level. Although we have some minor correction after going $24,000++ but that's how it has been throughout this bull run.

So I think this dump is just like that, a minor correction and then maybe in the second week of February, we will see a price increase to $25,000.

Let's see how it goes, everyone is very excited after last month's pump and I'm sure no one has anticipated that.

Bitcoin managed to break through $24k a few days ago so the market will recover again and even bitcoin could reach $25k this month. But we can't rush to expect the price to go straight back to $24k as I see the market situation will stay like this, up and down, over the next few days. Moreover, the market is currently on the weekend, which will usually trigger the market to experience a correction. And hopefully, if there is a correction, it will not bring the price down even further.

With the surprise rally in January, I thought it was a trap, but with what it showed in January, it was up almost 40%, and the rally lasted more than 3 weeks, so what I suspected was utterly wrong. Along with the positive news about the Fed starting to slow down rate hikes, I believe a bitcoin pump to $25k could happen this month, but to go further, I'm not sure. My prediction is bitcoin will hit 25k in February, but bitcoin will go up or adjust we need to observe more, I can't make predictions after that.

There is a high probability that I think bitcoin will reach $25,000 this month and right now the price of bitcoin has reached $24,000+ and to reach that price I am very optimistic that it will happen because it only takes 1k, but there is a possibility that it will come back down and a small correction will continue this month this.
actually it's not easy to predict the price of bitcoin because it can't be predicted and anything will happen because of some factors that can't be known in advance and make bitcoin prices fluctuate suddenly, and it seems that currently bitcoin holders tend to focus on the long term which I don't think there will be a sharp drop, and maybe there will only be a very slow increase makes them hesitate, but they hold it in because they realize that the long term is best.

This new month has proven to traders by increasing from $23,543 to $24,231, showed that bearish season will soon disappear for long term and short term traders to experience massive income from their investments. I don't think, the price of Bitcoin will decrease to $20,000 or $21,000 before it will increase higher because this year 2023 will be different from last year, which this is the right opportunity to buy Bitcoin as much you want so that you will be part of those that will celebrate soon. I believe the price will definitely hit $30,000 before the end of February for those that invested to start earning from their investments.

Just like the rest of you guys, I'm extremely bullish on bitcoin right now. The increase is no longer a bear trap, it's been more than a month now since we have this kind of upsurge in prices.

So probably our next biggest test will be $25k this month. We have reach $24k and higher already, so it's possible that $25k might be in the end of this month. And then obviously the next stop for this hype train in $30k for this quarter.

I think what spooked Bitcoin was the Silvergate bank prob by DOJ and the earnings for Apple, Amazon and Google. Meta had a huge day and Bitcoin failed to break to new highs and when the sell off started in the late trading session it didn’t look well for Bitcoin.

We might chop around in this area for a couple more weeks before we go higher. I don’t think we topped yet. If we get crazy 20% daily gains then I can see us topping out soon like an echo bubble from April 2019 but hasn’t happened yet.

Pullback for Feb I think or at best sideways motion.    Lets measure progress by the 1st Feb move which was quite large.    If we maintain this much for a week or so it will resolve bullish but if we fail to hold then we go back to lower 20k and this is probably how Feb unfolds.
https://i.imgur.com/SQZrBRF.png

So far we maintain the 23324 level as lows and general action fits into that initial move with its slightly higher volume.   I think we do break this area and it will give us a direction and description of strength to judge better going forward.   Sideways consolidation I find positive but often not keep weekly or similar averages weighs down BTC some as speculators depart with their hot money.

The month of January has ushered in a new level of hope and anticipation for the cryptocurrency market flr the remaining part of the year 2023, as no one expected such a sharp price rise of 30%+ in the first month of the year alone and won't be surprised to see speculations that point to 25k+ price in this month lf February and the entire market conditions already point that that direction because presently,  Bitcoin is shining signs and in no time that price benchmarks will be reached since we are already climbing solely to between 23,900 to 24k Bitcoin price.
*if the present bitcoin price momentum persist,  we will see a newer high that could go beyond the speculated price of 25k and touch 28k in the month of February.
*But we must also be prepared for possible price reversal at any time.

Everyone seems to be very bullish this month, hehehe, I can't complain, we have a huge bull run in January that for sure, no one expected to be this big after the SBF fiasco last November. But investors have quickly gotten over with it and now going back to the market in full force. So yeah, I will also be very bullish and the next goal for us is to hit $25k-$28k for this month. It's just a question on can this be achieved again, two months of successive increased in a bear market?

Hard to be not bullish especially after looking that January monthly candle. That was the highest monthly close for Bitcoin since August last year. I'm leaning on the side that we're pretty safe now and it's one of the best times to start accumulating again. I don't think we will see new lows (below $15k), as most of the negative developments have already occurred, although we may see some fluctuations and a bit of volatility in the $20k range.

Again, it's always not a wise decision to go all-in or create a leveraged long position even now, but buying spot is very attractive at current market prices IMO.

January 2023 with 39% was the most impressive mover for bitcoin in the same period in 10 years.  The start of February also shows that the market is ready for the bitcoin wave to return and 24k4 looks like a difficult range to break in the first week of this month and 23k2 looks to be a reliable stop.  23k8 is the range to wait for a sideways move.  I think the market will need more momentum to go through 25k or it will move sideways and break 25k completely soon.  But it is clear that a rapid recovery increase will be more unlikely than January

I voted no. Not because I’m not currently bullish, but because we moved up a lot very quickly and I think we need time to correct or accumulate before another move up. I’ve been surprised by the market strength during this rally so a sustained move up wouldn’t shock me, but if I were a gambling man I’d be looking for a month of sideways action or maybe even a retest of $20K before we head up to the next stop at $30K.

I doubt that it's the reason for the spike in price, I remember the same case in 2018, when people are speculating that the Chinese Lunar New Year will have a impact (be positive/negative), but it has none to be honest.

For this month, I think the sentiments will continue to be positive, so I voted to remain bullish and going to reach as high as $25k.

Again, the bulls have control of the market unless there is some negative news again or black swan event this month that will negatively impacted the market.

I again think bitcoin will break through $25k and possibly hit $30k before a sharp correction after that. Even though bitcoin has rallied to $23k, the market still shows very weak buying power, people are still very wary of what's going on. So bitcoin needs to go up to $30k to attract people who are afraid of missing out and will rush to buy bitcoin, and then it will start to correct again, causing everyone to continue panicking.

I doubt about this. The price will still rallying if bulls is already in control with the current trend. We just barely print a green monthly after the good news about the inflation slowing down in the US but the inflation problem is still there and  might hammer down the price agin with just a high interest rate.

We need consistency and strong buying power to convince more trader to have confidence on buying Bitcoin. I think it will be safe that bulls is in control there is multiple monthly green candle printed on the chart instead of one.

I think 39% is high because the gain we have last month was only $6k and I think there are other years or months where BTC performs better than what we currently saw this year but this year is only getting started so let see if this year can truly be the best than the rest. The month of February starts great and currently there are no hard falls yet so we can't tell if this month will be like last month when the recovery is fast.

I think it's not a big deal if the recovery will be slower this time but it was great actually because it gives us a window of opportunity to buy more coins. The OP should add an option for "I am not sure" because this is what I am feeling for now but this can change later once I saw more price movements.

25k is nothing interesting. 30k is the important level and most people will probably be aiming at 29k to see if the sell pressure starts.
I voted yes, although it doesn't have to happen. Bitcoin is on its way to higher price targets and retracing back to 20k won't change that. We are probably overdue for a small correction maybe to 21k before breaking over 25k, but we'll see. Not much in this market is organic and most moves are a result of news or squeezes.

It is quite realistic to expect continued growth in February-March. Lower inflation in America, approaching spring (every 2 years bitcoin steadily shows growth in spring - 2017,2019,2021), opening of China. although it cannot be excluded that the real growth of bitcoin - if there is one - can be postponed until April 2023...

You know, I didn't notice the resistance at $24k was hit already. Am really trying not to be about the chats these days but surprisingly, it didnt go up as expected.  Thought after the resistance at $24k was broken, price would plummet up but, its still struggling as we see it.
In all, we could say the bulls are getting stronger but, we are not going to have a bullrun just yet. Not with the sentiment that surrounds the bitcoin halving. Surely the halving is a tike for investors to rush into the market and with halving almost a year from now, investors are going to hold back. Besides, a lot of us like to beleive the bears are not done yet and the charts clearly shows that. They've been competitive with the market and that tells there story.

with High confidence ? it will mate .


we have a great run in january and still holding its position above 20k till this day , even hitting 24k yesterday so what will hinder the price taking that high?


maybe we will be having even 30k any time sooner?


actually I was hoping that the whole year will be the recovery from the great dumping of 2022 but whatever happens I am ready.

checking the votes? solely it is YES .

but we are dropping now? going back to 22k again and there are saying that it will be either correction or downing to 20k.

Actually, what we are seeing is somehow unexpected on my end. Unlike with next year wherein there's something being anticipated to create a huge wave for this industry, I did expect of a stagnant market price without any hopes for an instant recovery because I believe factors which pulled the market price down are still present. Such as with FTX incident wherein there are still people who are afraid to again engage with this industry in fear of such instance to happen again with exchangers.Perhaps there is a pause at this point but for sure things won't change that fast. I am currently worried wether to enter already or not because I cannot see any strong support with the increase.

It's okay to be optimistic about good opportunities in February, and that has led me to believe $25K will be tested. We've seen $25K tested during January, but failed so the correction occurred. But the good thing to hope for during February is that at least bitcoin can hold on to $22K as support if $25K fails.

For now I don't care about how this market fluctuates as I tend to think I'll buy more if the price gets back under $20K. Long term goals are what I'm looking right now, and of course accumulating them is option I'm considering.

Bitcoin is correcting, and I have seen some people get frustrated because they expect bitcoin to continue to rise without a correction. It seems that many investors are so eager to see the price of bitcoin increase so quickly that they forget that we are still in bear season, a drop in the price of bitcoin is entirely possible. Bitcoin is correcting, but I believe this bitcoin bull run is not over yet, so the bitcoin price will rise soon in the coming days.

Btc will be really strong in this February. I mean January ended with a positive note, so yes many have expected something big from February. If Bitcoins manages to break the resistance of 25k usd and come out of it in this month, then definitely Bitcoins will go for another bull run. Moreover this year it is predicted that Bitcoins will break the all time high price, still we need some hints at first to believe this. So let’s hope for the best and wait for the results.

This month, rather than a $20k drop in price, anticipate an increase in bitcoin prices. It will be challenging for bitcoin to drop in price to $20,000. The price will continue to fluctuate around $23,000–25,000. Although bitcoin price is currently at $23k below as of now.

Am extremely confident that the price of bitcoin will fluctuate between $23k and $25 in the first and second weeks of the month. Perhaps towards the end of February, bitcoin will surpass $25,000. For me, it is speculative pricing cos nobody actually knows what will be the end price of bitcoin this month

I voted today, I need the first week to judge in any meaningful way the quality of price action likely to proceed throughout Feb and I believe we will not break past 25k and hold that level.   Range bound at best and imo very possible for us to trade down to 20k to trackback and reconfirm our prior breakout type movement.  Reconfirmation of prior positive price break is common enough and also often a positive after the confirmation is found to be solid and worthy to build on.
  Basically what happens is the speculators take profits and are forced to in some cases as they had borrowed money to trade BTC during this time, quite normal for us to cycle and take further time.

voted for yes, but also wanted to see it flow 25k first before other opinion to be made , what I mean is while I trust bitcoin to hit 25k and may stay at this point but the thing for me is would this be happening this February ? or in the coming months? if that can be answered or happen at least then yes this is one of the most or best answer to be taken.

We're probably still not out of the woods yet. There are some who are seeing the price to revisit $20,000 soon even after a very strong month of January which others see as a signal of the bulls coming. While $20,000 is possible, I guess February has generally been a good month. I read it somewhere. The month usually sums up with a growth. If that's the case, we might hit $25,000 or even beyond that when we leave February behind. $20,000, not this time.

I'm one of those who don't expect Bitcoin to hit and stay at a $25k mark. As I've noticed, the price action went back and forth touching 24k and it could go back down to 20k.
Nothing much in February, but Btc price was really good lately since we left January.
What's more interesting to see is the price action in the coming months before the next Bitcoin block halving occur.

For this month I would expect a slight increase in the price, which would be the most likely looking at the February history, but no major increases. Stay in the 20-30k range but with a slight upward trend. That is if there is no extremely positive or negative news that could push the price in one direction or another.

The good thing is that each day that passes is getting closer to the next halving.

You're right with the quick moves. Each time I see such I always expect a correction too. We've often be told that price behaves like kids on errands; it doesn't head straight to the target but will often branch off before getting there. Price Action doesn't move on a straight line upward or downward. However, looking at the monthly close, I won't be shorting Bitcoin for whatever reason. I will rather stay on the sides whenever I think I spot a dip than trigger it.

I hope @OP can add one more option, which is undecided because I'm still undecided about whether BTC will break out and stay above 25k USD this month (Feb) or the situation will be like this or it will go just up to $24k.

Maybe we have to wait until the middle of this month to be able to predict where the bitcoin price will move. But the bitcoin price journey is very interesting to follow and wait for because the bitcoin price always surprises us.

I tend to say that the price of bitcoin will still be sideways as before and there may not be a significant increase or decrease. But we all want the bitcoin price to break $25k this month.

Senstiment is way to positive, which brings resistance to a further short term rally

Those who still feel frustrated with the current correctional condition are people who don't have the mental strength to face every situation that exists. And actually people like that are not very suitable to continue to be in the market because they will often experience frustration at everything that doesn't go according to their wishes.

People who are easily frustrated with a condition will definitely panic more easily too, and make the atmosphere around them chaotic. Actually you also don't need to care so much about them because that kind of person is not very good to be around you either. Because he can get frustrated with just a small correction, try to imagine if the correction is much bigger than now.

Interesting result of the poll shows how bullish people are. This I believe shows the significance of the $20k resistance that was broken because for all we've seen the fantastic momentum that broke that resistance more than 20 days ago died and despite a couple of attempts $25k (which should have been broken already) remains a strong resistance for no reason!

For my view I have always sees it to be a bull trapped though I never expected it to be this high as then I was thinking it could only gets to 23k or possibly to 24k before dropping back to 18k and then to 29k. But as we can see no one can actually predicts the bitcoin price with all 100 percent assurance rather of a possibility statement.

All we could do is compare the chart from the past and we can predict where it would land it's best price. I'm in the same thoughts on this market that seems like a bull trap yet it's not, perhaps there's something is going on in the market though the resistance to break that $24k is quite strong. Maybe there's a lot of selling order that's why it can't past that $24k resistance, perhaps we should just wait a little longer to see what's going on with the market.

Whenever there are some small scale or percentage increase on  the market then im not really that letting myself get to believe that we are already on a bull run.It is really hard to determine honestly on whats the

current condition of the market on just basing up with those increase and decrease.We do able to know when it already happened and there's no way that you could able to know it ahead.

There's no way that we could be able to point out and this is why it is really hard to make out decisions basing up on hunches or doesnt really have any basis or analysis.
This is where people do really differ when it comes to their price approach.

most of us did think in the beginning because we sees no reason for the said pump but as the time progress and runs? yes now we can see strong hold for 20k and above that shows us to stay positive and possible increase in holding.
this also add trust for other holder to start buying now as they have waited for long from the dump of 2022.
lets see how it will turn if we broke that 25k resistance this early February .

Although the result of this poll is not conclusive as to whether or not Bitcoin will indeed hit $25,000 within this month, it seems many believe that $25,000 will be hit. I also have a good feeling that $25,000 is not too high to reach within the month. After all, that's just less than $2,000 away. If we consider that the price has already reached $24,000 days ago, it is very possible that $25,000 could also be conquered. Although the possibility that all of this is a bull trap is always there. After all the halving is still scheduled next year.

But a bull trap shouldn't last this long otherwise it will lose its trap-ness! After all the trend reversal started a month ago and price has had a nice solid rise from $16k to above $20k and stayed there ever since.

I don't know if there's a strict time frame for a possible bull trap to lose its "trap-ness" but the quick rise only happened just a few weeks ago. For a couple of months, the price was not even $18,000. All of a sudden, it leaped beyond $20,000. Yes, it stayed there ever since, but "ever since" is just from mid-January. We are still within the first half of February, so I think the quick rise possibly a bull trap is still valid. Everything is still short-term from that point. Although I hope I'm wrong.

I think there are reasons with it. What about the decline in interest rates, the bitcoin exposure on national television, and the upcoming Bitcoin halving? I am not sure if I forgot something but there might be more than this.

So, what happened isn't just a bull trap therefore people must not be scared from accumulating more Bitcoins because the price won't collapse hard after it but there might be some small correction that can come along the way which is normal and felt every after new increases. We still have more time to break that $25k resistance this month and if ever it's a success then I expect more strong increases can take place.

I see some says it's 45 days? Anyhow, I will also tend to agree that it's not a bull trap but a genuine run up to $20,000 and higher, it even goes as high as $24,000 at one point.

But now it seems that the price is going on another correction phase, so no $25,000 for us. Although it's too early, we barely entering the 2nd week of this month and maybe at the end we might see $25,000 and so this is no longer a bull trap.

I think BTC at anything above 20k USD is bull territory after hitting the lows of 16k imho.  But if it goes down below 20k but holds 16k then I think it's another great time to buy.  If it fails to hold 16k, jfc help us as 10k - 12k would be in the cards.  Let's hope none of that sht happens.

Anyway the poll has 22 votes for yes and 3 votes for no.  Looks like sentiment has changed 180 degrees from the last couple of months prior to January.  Still three weeks til the end of the month.  BTC could still end up in the green.

Personally I think breaking $25K this month could be a bit early, especially if most people are expecting it to happen already. I think March is more realistic, though wouldn't rule out breaking above $25K in the next week or two. I think it depends more so if current prices or $21K level will hold as support, if not then it will likely take price longer to consolidate if $20K (accumulation) levels are re-visited.

Yeah, I think it's very quick if we are going to hit $25k by this month. I might be leaning towards next month as well, thinking that the buyers are going to be exhausted with all the effort pushing to $24k++ and then the price goes down again.

Right now we are below $22k, a good support, not sure what happen, but for sure $20k will be biggest support if ever we re-visited this price this month. The only negative news that I see is the closing of LBC, but not sure if this is main reason for the price to go down again.

That is why it is not a bull trap to begin with. It is bull, not a trap and there will always be some people who are not entirely sure about what is going to happen and they have seen a bear period for nearly 1.5 years which is why they do not have any type of belief that we would go into bull, maybe ever again.

So, when they see a bull starting, they are not entirely sure and that is true that these small increases are not as bullish as it was in 2020, which means that we are not going to suddenly be 10x or anything, this is more like even in best chances we will be 2x and that is still a great thing and it's still a bull but people need to relax and just realize increases can be called bull without being feared.

Not really that shocking that there are really indeed people who do just really make out some claims without even try to realize that the market cant really be just having a single path or movement which it would really be that impossible that it would really be just continuing on going up without having any retracement or pullbacks and on the time that people would be seeing some decline even on <10% movement then they are
really that trying out to claim that it was a bull trap which is really that a very wrong idea to have. Sentiments for this February does really seem like to be quiet and there's no fundamentals
around which could trigger out some possible huge significant movement but its not still that assured.

I voted yes on the poll when this thread was created, however, there are very concerning reports that SEC comissioner Gary might become more aggressive in enforcement of regulations on exchanges, Defi projects and banks that are cooperating in the cryptospace to put them under the control of the government. The fear this might create on investors might cause bitcoin and all of the cryptospace to another big dump again.

https://i.postimg.cc/ht6vT7qM/A8-AAF0-FF-1-BA5-489-C-A024-6606-DB12140-C.jpg

SCOOP:@GaryGensler
 is embarking on a "midnight massacre" in an attempt to bring all of #crypto under his control. In the coming weeks, the @SECGov, @NYDFS and the @USOCC will be bringing a myriad of enforcement actions against exchanges, banks and entities that mint tokens in an attempt to label the majority of them as securities. I'm told Gensler's strategy is to bring as many enforcement actions as possible while the 118th Congress is still getting its bearings.

Source https://mobile.twitter.com/eleanorterrett/status/1623796900586573826?s=12&t=Y8PGZiPJkfD7x2wbVVy53g



I reckon they have began on Coinbase and Kraken already.

Yeah tho I wouldn't have said the same thing a week ago tbh.  But now it's looking like it's having a bit more resistance at the upper 23k range.  Could it be just a correction?  Maybe...  But what we prolly need right now is for BTC to go back down around 20k and let those people in the side lines join the ride and push the price up again and hopefully get it over 25k.

Anyway, US session is starting in an hour or so and it looks like it's going to be red judging from the SPX futures.  Let's see how crypto reacts when it starts. 

Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.

But does past economic performance really still have an effect on BTC and the altcoin market?  I feel like after FTX's demise, the crypto market showed that it had nothing more give in terms of sell downs and went down not by much if we compare it with the Luna fiasco.  If the market really had more sell downs to give I think it would've went down to 12k?  Dunno...  But it sure looks like there aren't much sellers at the 16k - 20k range.

A lot of you guys would prolly welcome another sell down to 16k just so you could pick more up. 

The LUNA and FTX story was crushing, but it's all links in the same chain. As well as several bankruptcies of large funds that were linked to it. No one knows, maybe something like this could happen again. Like the bankruptcy of Grayscale Investments or something like that, which could bring another shock to the market. Anyway, I don't exclude that there could be a continuing story with bankruptcies.

Pretty much everyone said yes when this thread was created but for the past few days the things are not going in the way we expected and there seems a reversal of trend and let's hope its just a short term atleast will not break 20K resistance,

Do we have any other big news that caused the price to crash when its constantly growing for a while?

yep it does look like there are no bears going to sell as such price anymore after it wont 24k last week. but the greed index in crypto market this week is not encouraging. its still in neutral 49 https://www.cointree.com/learn/crypto-fear-and-greed-index/
i guess it also convince investors that we are really no yet out of the woods.

while dow, s&r is already in the greed 70 https://edition.cnn.com/markets/fear-and-greed

Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.


Yeah, the index hasn't been as important to me as tech stocks index, not that I trade, it's just to me now a better indicator of what to expect in Bitcoin at least until the global economy calms down.

Yeah but just saying, there could come a point when the market runs out of sellers and some people still holding their bags start going 'fck it, I'm holding all my sht to zero' aka stop caring about the news and all the economc data they churn out.

Anyway, I've been doing these sentiment threads for a while now, I wonder how the BTC turned out on the month vs user sentiment...  Will check it out if I'm in the mood.  ;)  I feel like we're more in tuned with the market than most folks.

That'll never happen, at least, not for too long but yeah of course, I completely buy into the theory of temporary seller exhaustion. Call it what you want, weak hands all gone, I call it purging of the speculators.

That said, if all we have left are bagholders who aren't using or spending, it's also not good for Bitcoin's long-term health. So in that sense, every seller creates a transaction, so I kind of see them as vital for transactional "health" haha.

Cool if you put sentiment out and forum regs chime in. I want to know if it's a good idea to sell some BTC now to buy back in at a... 25% dip? I never done it and don't play the game but I wonder if, instead of doing that, freeze my DCA for a while to wait for the dip and lump in all in? Don't ask me why I'm suddenly feeling like this heh.

BTC makes new low for Feb today but also is now challenging the 48hr moving average.   With the low in the region of 21k it could be we have a local bottom and challenge the momentum downwards till the end of month however this remains to be seen. 22.3k is about the cap for this move on initial buying alone, it has to build above and confirm 22.5k or higher not to fail like most bearish trend rallys do.
  Last Thurs was a bigger down day both price and volume and thats the measure to meet for beating the inertia accumulated downwards.  Outside of that we are moving in a range (https://i.imgur.com/SqT4xYC.png) set since that down day, fighting action downwards but with no success upwards to date.  Presume we repeat until we actually doing something new, this isnt quite it yet.

We have seen the price moves to $21,800 but then, no push so yeah, it's has been a challenge in the last 48 hours and it seems the bears take control of the market this February.

Although price is still just above $21k, we may never know what the bears can do on this price.

And with that, it will be hard a close pursuit to $22k at the end of the month.

I mean a point when there are less sellers than buyers...  Meaning sell downs happen less and buy ups happen more.  I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point.  If so then BTC could be range bound from 16k to around 23k - 24k range...  Like sellers  only start to come out at 23k - 24k.  Dunno but seems like we aleeady hit bottom.  I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'.  I usually just buy the momentum and go with it.  Lol.  Leaves some money at the table.

How a month starts is very important,  in the end there are too many people who think that it will be a big deal and break out and that will be the thing they will base their investments on.

However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.

Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.

However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.

Which, if you're right, means they're just about to pop up then with today's surge looking to retake lost ground above 23k.

Buying bottoms? Not really my thing, as it means setting aside cash for that...

I actually never sold any tops, but have been able to benefit slightly from bottoms thanks to DCA, I'm usually less concerned about that as Bitcoin spends a lot of time near the floor... my hope is I actually call the next top as I'm not getting any younger!

But still, the bull run has really happened since the beginning of this year. Bitcoin is up 50%, so now the other coins are going up as well. I think that the growth will continue, because yesterday there was negative news about inflation in the USA, but bitcoin reacted to it with growth. I think that's a good sign.

So far it has been a decent month, but not really doing as well as we hoped neither. It is still above 20k after half of it is gone, in fact since its 28 days, we are beyond half of it already and that is why I believe that it is going to be a troublesome situation. I think it is going to be something that will hurt a lot of people if it goes down even more, but usually that means it will go up. I know you may think "but it went down before" but people made so much profit before that, right now everyone is in minus and they are all looking for a way to make a profit from this as soon as they can.

I agree that breaking over 24k is likely, it is looking even more likely everyday, but we should still be careful about it, do not put all of your eggs in one basket, make sure that you are invest in safely and not taking useless risk, it would be bad for you in the long run.

I know it is not going to be such an easy task to handle, but that doesn't mean that we should be able to do it, it is something we should be careful but also hopeful about because we know that it is going to be possible for bitcoin to go up, not only possible but basically the likely situation for sure. We just need to arrange our portfolio in a way that any drop wouldn't hurt us too bad, but any increase would benefit us.

And just like that, we did break $24k today, not sure what is the reason for this huge 8% spike in just 24 hours, but for sure there is a positive news behind this break out run again.

So we might say it's easy task for us to break it because it just took less than 24 hours.

But the big question is that whether we can maintain this pace, or will there be another correction. If we can sustain this run, then definitely $25k is there for us this month.

At the beginning, I was also didn't expect Bitcoin will go up to 24000+ after seeing the bearish market movement of the past year. I also thought it could go into another new dip market after touching around 22k-23k. But today after proving my guess  wrong, Bitcoin touched 24300. So the current signs seem to be that Bitcoin may go to 25k or around 25k or even above this month.
Even then I would say to still watch the market, as Bitcoin re-entered the down market after touching 28k last year. But for long term investment I think the road is still open.

I was not really optimistic but seem to believe that Bitcoin price will never reach $25k  or it becomes stable to $23k. However, was convinced that it stays above $20k this month.

The current momentum is not enough to move the market high. Even though we've done the scam issue with FTX and the war in Ukraine and Russia, the buying volume is still low to move the market price increase fast. However, the situation will indicate to something more positive this year, and that is what we wanted to happen.

Yes, I also voted within $25,000. I expect the market to hold Bitcoin in the $25,000 range very soon, perhaps as early as today. The market is currently standing at $24308. Maybe it doesn't take much longer to reach $25,000. Wait and let our target be met.

The year 2022 was the bloody year of Bitcoin. After this bloody year in 2023, Bitcoin created new excitement in the market. I am very happy to see the new condition of the market. Because my investment is now on the way to recovery. So I am mentally very good here because the market is good.

Huge possibilities are there for $25k to be printed on the charts considering how bravely btc fought the kraken crackdown and even after a strong dollar where EUR and GBP are getting weaker, btc made its move towards breaking the recent highs and entering a fresh bullish phase again. With all the shit that happened, the kraken crackdown and Paxos ordered not to issue BUSD, and localbitcoins shut down their services, btc holding above $24k is its charm that's creating a difference this time.

Wow this is one hell of a move in like just one day.  Its held the line, reacted massively upwards and has to be taken as very bullish for the rest of this month.   We have maintained at the top of the range for the price action since year start where as I had thought we'd have to pull back far more in either time or price to resolve sellers in the order books

https://i.imgur.com/9b20nU8.png

The next bundle of volume would be at 30k area.   We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.

Yeah, i wasnt expecting that and now the price is trying to break that 25k resistance.If ever this would be having that breakout then we would be seeing 30k soon but im not really that making
myself getting that too hyped.I was honestly expecting for some dump considering that CPI report but it seems that it had been rejected but instead it do make out some
good increase in 24h% which i wasnt expecting and for sure the entire community doesnt really be able to see that coming.

No...  If I'm right it all goes back down to 16k - 18k:  buyers come out then it goes back up to 23k - 24k:  sellers come out.  So BTC ending up being range bound for a time until the buyers get their fill at the bottom of the range and the sellers run out and will prolly end up buying too at some point.  Dunno..  But all these guys blindly saying to buy the dip are right for now.

And I still think all the stuff that's going on in the world will still have an effect crypto.  And it's all not looking good rn.

My latest "realistic fantasy" scenario is like this: I save as much fiat as I can this year (by converting a little more BTC than usual each week/month) and hopefully, after 10 months I can set aside as a reverse DCA, maybe $6k (it's the best I can do, about $500 a month)... and then by then, or soon after, we see that super dip.

If you're right at 16k (I'm thinking $14?) then that gets me almost ~0.4 BTC, something difficult for me to get anyway.

If we're wrong, and BTC goes back to say $30k, I'm buying it all anyway and get only 0.2 BTC.

It's not even much but as I said, I'm willing to try this, because if worst case scenario happens (I also believe the bad stuff going on around us has yet to really bear in) and we even see sub 10k, I would be very well positioned. And I've never been in that position =)

^  For that, I think looking for some alt to buy for a fraction of the 6k you're planning on getting BTC could give you better results and could give you the proceeds to buy even more BTC.  There's a risk but seeing the whole market right now, it feels like it isn't going to sell down really deep.

I'm really just doing it for the lulz and risking a couple hundred bucks but check out the 'looking for the next great 1000x' thread in the alt section.  :D :D :D  I know it's a joke but doge themed coins and coins with dog logos could make their investors a lot of dough again.  And DOGE to 1 USD isn't going to be a meme anymore at the coming bull market...  It really could happen now...  Not to mention Elon Musk who could just sneeze the word 'DOGE' and everybody starts buying.

So February has come to a close. This is one the most neutral doji candles I've seen in a long-time at +0.02%. Slightly longer bearish wick than bullish, but overall very much a "standard doji".

https://s3.tradingview.com/snapshots/g/G0FeIsg9.png

I guess the bullish sign is that Bitcoin held onto the +40% increase from January, despite many expecting price to pull-back further already. The bearish sign would be the second consecutive rejection from the 50 Month MA @ $23.6K as well as failure to close above July high of $23.3K, though yet to see bears follow through. For now I think it more likely signals continuation to the upside rather than a trend reversal.

Officially this is otherwise the smallest loss/gain candle recorded on Bitcoin monthly chart. Last time there was a doji similar to this was January 2017 or otherwise March 2012, prior to further upside.

^  A good post to end the thread.  Locking it now...