[2018-12-26] Bulls Under Pressure After Bitcoin Price Retreats from $4K

[Lmaooo]

Bitcoin’s recent forays into price territory above $4,000 have been beaten back over the holiday, putting the bulls under pressure to regain momentum.

The cryptocurrency had peaked to around $4,140 on Dec. 21, then to over $4,200 on Dec. 24, but dropped sharply back to around $3,720 early yesterday. A small bullish bounce since has now subsided and, at press time, bitcoin is changing hands at $3,762, as per CoinDesk data.

The world’s largest cryptocurrency by market capitalization now looks to be consolidating under a lower low, potentially building momentum for another push above $4,000 should buy pressure persist above two key resistance levels.

CD | https://www.coindesk.com/bulls-under-pressure-after-bitcoin-price-retreats-from-4k

[rodskee]

that's is true and the price of bitcoin today's $3,861.84 USD source https://coinmarketcap.com/currencies/bitcoin/
Not too far for possible increase their price back at $4,200 USD on before end of the year same from christmas holiday bump

[Kemarit]

I wouldn't say that the bulls is under pressure here, remember we went from $3200-$4200 and then back to $3800 again. It's a slow pace but if you look closely, we're in the bulls territory right now. So it will still be in the waiting game, if investors dump then there's people who's going to pick up some cheap coins and if there's momentum, others will jump to probably push it above $4000 again.

[1Referee]

So it will still be in the waiting game, if investors dump then there's people who's going to pick up some cheap coins and if there's momentum, others will jump to probably push it above $4000 again.

It will definitely be a waiting game, especially if we're following what happened back in 2015 after hitting the bottom. We were stuck below $300 for such a long period of time, combined with a decent level of stability, that it actually frustrated a lot of people here. Back then people were speculating to see even lower lows, and the same applies to the current situation.

It's quite funny how everyone said that you shouldn't compare the previous correction with the current one, but it actually shows very similar patterns.

[Slow death]

The cryptocurrency had peaked to around $4,140 on Dec. 21, then to over $4,200 on Dec. 24, but dropped sharply back to around $3,720 early yesterday.

to add, shortly the price dropped to $ 4570 and the panic has begun and the news channels have already begun to post news like:

Bitcoin Price Watch: Crypto Businesses Suffer as Price Continues to Drop

I see that we will have a terrible end of the year.

[pixie85]

The cryptocurrency had peaked to around $4,140 on Dec. 21, then to over $4,200 on Dec. 24, but dropped sharply back to around $3,720 early yesterday.

to add, shortly the price dropped to $ 4570 and the panic has begun and the news channels have already begun to post news like:

Bitcoin Price Watch: Crypto Businesses Suffer as Price Continues to Drop

I see that we will have a terrible end of the year.

What panic? I don't see any panic. We are in a sideways trend. You are seeing a "sharp fall" and a "terrible end of the year" because you were already seeing bull market when we visited 4000 for a while. Try to see things for what they are instead of dreaming of a bounce back to 6000 right after a new low of 3000. We could be trading in the 3-5 thousand channel for the next 6 months. Patience!

[gentlemand]

Bulls haven't had any real momentum for over a year now. I presume most of them by now are off surfing until 2021 or rocking back and forth in their cardboard boxes in subway tunnels. This stuff needs to be allowed to play out in full. Anyone trying to buck it is basically setting their money and time on fire.

[milewilda]

Bulls haven't had any real momentum for over a year now. I presume most of them by now are off surfing until 2021 or rocking back and forth in their cardboard boxes in subway tunnels. This stuff needs to be allowed to play out in full. Anyone trying to buck it is basically setting their money and time on fire.

This is actually the hardest part of this kind of market on where we do keep guessing if its already a bull run or just an another trap.It can break anyones hopes anytime.We might even see
a bearish year of 2019 just like on what happen as of this year but who knows where those positive events on next year can be a good trigger.

[figmentofmyass]

Bulls haven't had any real momentum for over a year now. I presume most of them by now are off surfing until 2021 or rocking back and forth in their cardboard boxes in subway tunnels.

living off ramen noodle packets, moving back into mom's basement, etc

This stuff needs to be allowed to play out in full. Anyone trying to buck it is basically setting their money and time on fire.

that's why i don't catch knives in a bear market---the risk/reward just isn't there. but i will note one thing from my experience in 2015: after a seemingly endless grind downwards, it's easy to think it'll continue forever and so it becomes difficult to recognize when a reversal is happening. i don't think the bear is done but i suspect we're near the end of it.

[Kemarit]

So it will still be in the waiting game, if investors dump then there's people who's going to pick up some cheap coins and if there's momentum, others will jump to probably push it above $4000 again.

It will definitely be a waiting game, especially if we're following what happened back in 2015 after hitting the bottom. We were stuck below $300 for such a long period of time, combined with a decent level of stability, that it actually frustrated a lot of people here. Back then people were speculating to see even lower lows, and the same applies to the current situation.

It's quite funny how everyone said that you shouldn't compare the previous correction with the current one, but it actually shows very similar patterns.

I got lucky to get in 2015 at the tail end of the bear market and the start of the eventual rundown to $19,000 last year. But its a long journey lots of ups and down, sideways and patience. I guess the the data is still small to even compare and find the patterns. But we will see if the 2018-2020 will mimic its past.

[jeromix]

Yeah we have observed it also at coinmarketcap.com on its market price movement. 4k is still not yet a what we called bounce back dor bitcoin market price increase it could still even fall at its worst which is below 3k USD. This is a crucial times for bitcoin and hopefully it will.not.going to happen.

[Ennichell]

Yeah we have observed it also at coinmarketcap.com on its market price movement. 4k is still not yet a what we called bounce back dor bitcoin market price increase it could still even fall at its worst which is below 3k USD. This is a crucial times for bitcoin and hopefully it will.not.going to happen.

Who knows! I heard some whales wanted to drop the bitcoin price lower than 3k. Will see!