Short term trend of Bitcoin currently

[Assiduous]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

[kryptqnick]

Over the last 24 hours it seems that Bitcoin is recovering. But a 1-month trend is indeed bearish. It doesn't mean much, as the price is still high and it's still early for the anticipated bull market anyway. Honestly, I think Bitcoin is holding up really well, considering that Bitcoin is 60% or more below the ATH most of the time, it seems.

[Marvell1]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

What I'm more concerned about is those who are bearish and believe bitcoin will fall more in the short term, are they opening any short positions? Or are they just making these predictions just because bitcoin has been correcting over the past few months and think it will continue correcting? Their predictions are just like ours, they may be right or wrong, you don't need to trust too much in the predictions from those self-proclaimed experts.

To me, bitcoin is unpredictable and will become even more unpredictable in the short term. So ignore those predictions and do your own analysis, or hold on tight to your bitcoin and sell only when it hits your target. Don't care too much about other people's predictions because sometimes it will make you panic and make wrong decisions such as selling bitcoin at this time.

[Jawhead999]

Who cares with Josh?

It's always been like that people are prefer to invest their money if the market is bullish and they will hold their money in "stable currency" during bearish. That's why it's not surprising when DXY trends upward, Bitcoin trend goes opposites https://en.macromicro.me/charts/84646/BITCOIN-vs-US-DOLLAR-INDEX-DXY

This is not only in Bitcoin, but also in gold and S&P500.
https://en.macromicro.me/charts/34538/us-dollar-index-vs-sp-gsci-index-divided-by-sp500
https://en.macromicro.me/collections/45/mm-gold-price/592/us-usd-dollar-gold-price

[mk4]

These analysts with their "analyses" lmao.

Whatever the hell they say I just simply try to earn as much money as possible, and DCA them into BTC. That way I don't really care what BTC does in the short-mid term and I wouldn't be scared of drops and crashes because that simply means I can buy BTC cheaper.

*shrugs*

[BitGoba]

Bitcoin is quite predictable compared to fiat money. It has a clearly defined monetary policy and an inflation rate that halves every four years, eventually reaching 0%. Unlike Bitcoin, fiat money constantly depreciates and has ongoing inflation. You never know when more will be printed, causing even greater inflation or hyperinflation, where you could lose everything overnight.

[bluebit25]

IMO, ignore them because I'm not the type of person who cares about the short term. From the beginning, I always feel that shortterm speculation is like flipping a coin, it makes us confused or excited immediately.

The so-called analysts are just entertaining to me because they can't decide what I will do next, but I'm not sure because the shortterm view is also quite vague in theory according to the candlestick  hourly, day, week, month,...

However, with the trust in bitcoin, it is advisable to learn and gain trust to accumulate in a way that limits risk despite the volatility that occurs.

[MinoRaiola]

Bitcoin is quite predictable compared to fiat money. It has a clearly defined monetary policy and an inflation rate that halves every four years, eventually reaching 0%. Unlike Bitcoin, fiat money constantly depreciates and has ongoing inflation. You never know when more will be printed, causing even greater inflation or hyperinflation, where you could lose everything overnight.

This is true in the long term, but one must not forget that people have to believe in bitcoin. If acceptance increases, then your explanation will be correct. But if bitcoin is not interesting enough over time, then it may develop differently. But I believe that bitcoin will make it. The central banks keep printing new money and that increases inflation every year. And the countries and their high debts wont be able to do well in the long term either. The best example is maybe the USA, every year they increase the limit of possible debts. In germany many billions of new debts were made during corona and these are to be paid back in the next 30 years (if you believe the media). There are many more examples, but at some point this will no longer be possible.

The price of bitcoin is currently at the same level like more weeks, but I think it will soon start to rise again.

[mindrust]

I don't know how you came to this conclusion. To me it is only going sideways. I can't say if it is bearish or bullish at all. However, when btc goes sideways after making an ATH, it usually dips later on. Maybe you also observed the same behavior. If btc follows the same pattern again, then it means soon the price will go below $50k. This is all fortune telling though. BTC might do another ATH right from here in 2024 or 2025. It almost reached $100k last time... It will surely go above $100k during the next bull market.

[pooya87]

Bitcoin trend could have been referred to as bearish while it was dropping down from $70k (which is most of June). But it's been days since we saw a drop. For about 5 days we are seeing ups and downs which makes the current trend sideways (not bullish, not bearish). Basically after reaching $60k, the drops stopped because that is a strong buy support.

[GbitG]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

There is nothing wrong with short-term bearish trends because they tend to create buying opportunities for those who are willing to invest more in Bitcoin or other cryptocurrencies but didn't do it. After all, the prices were high, now when the market is in a short-term bearish trend, they can easily buy their favorite assets and then wait for the bull run to start.

What's happening in the market right now isn't unique, we have seen Bitcoin doing this a lot of times before going up. We shouldn't forget the time earlier last year after February when Bitcoin stayed stable around $30k for maybe 6 to 7 months and we didn't see much movement, but when it started moving, it went straight from $28k to $37k, and the rest is history.

[Fiatless]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

I wonder what is the qualification to become an analyst. It is common to see people who claim they are Bitcoin analysts give predictions without valid proof to back this forecast. Sometimes they are fortunate to predict correctly while in most cases it's just fake. I am not a trader, so I don't have any business monitoring short market movement. For me, price drop is an avenue to keep buying through DCA until it gets to my target. There is a general belief among most Bitcoiners that the price might get to $100k by the end of this year or early next year.

Bitcoin trend could have been referred to as bearish while it was dropping down from $70k (which is most of June). But it's been days since we saw a drop. For about 5 days we are seeing ups and downs which makes the current trend sideways (not bullish, not bearish). Basically after reaching $60k, the drops stopped because that is a strong buy support.

During the early days of my Bitcoin journey, I checked the price of Bitcoin daily. It was quite frightening to check it because I was scared of seeing the price go down. These days I don't care much about the daily price because I have a long-term plan.

[aylabadia05]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

It's always easy to speculate on current market conditions to try to convince fans or followers.
Bitcoin is different from the dollar or currencies like the dollar in my opinion that still don't really care what happens to the Bitcoin price market in the short term.
I admit that maybe people like Josh have good analytical skills, but to analyze Bitcoin like this, I don't really listen to it seriously.
$61,000 can become $80,000 or it can go back to $50,000. The point is, 1BTC=1BTC

[Obim34]

Funny enough with these predictions from different traders, the market has been revolving around bear, bull and consolidation state. I know a few days ago Bitcoin touched $59k and after a day or so, it increased touching $67k, each time the market makes a move I don't believe coming up with different postulations.

As an investor, we should spare our mind far away from certain analyst, our interest should be on how to earn to accumulate more instead of spending time analysing the market, we invest for long term and nothing should really matter on how Bitcoin acts within a short space.

[Fivestar4everMVP]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

I was actually discussing the current situation of the crypto market; and bitcoin in particular with a friend of mine who's also into crypto, and he was of the opinion that the current downturn in the price of bitcoin is actually a good thing, he said that the further down that the price of bitcoin goes, the higher it will pump in the coming bull season, I personally did not believe him, but he gave me some really convincing analysis which was really to hard not to believe to be honest, I cant go into details with the analysis here, but if every thing he said, and his prediction is to be true, then we all should expect the price of bitcoin to be back above $70k by the ending or August and or by the beginning of September, and from there; by October ending, we should be entering a full fledged bull run.

So, we all should hold our bags tight, if you have extra funds, wait and buy more bitcoin as prices drops further into the $55k, $50k range, may not get this low but it's a possibility right now.

[Emmanuelex]

We can't say when Bitcoin price will become bullish. There are so many predictions online, but none of them have seemed to be accurate , it's usually something else. Best thing to do in a situation like this is just to hodl till the market becomes bullish.

[Davidvictorson]

Analyst will analyze to create FUD for people who want to FOMO. I say "people who want to FOMO" because I think it is a choice and I think that there are people who actively go in search of what these analysts say. It is not those who have been in it long enough that would know that they need their own personal bitcoin strategy that is fool proof against what the analyst are analyzing. Simple - buy bitcoin, DCA and keep doing it as it suits you until you don't. You are not going to be perturbed by the markets movement does  you have stuck to your goals and plans.

[Hyphen(-)]

We can't say when Bitcoin price will become bullish. There are so many predictions online, but none of them have seemed to be accurate , it's usually something else. Best thing to do in a situation like this is just to hodl till the market becomes bullish.

Nobody cares about their prediction, the Josh he is referring to is just an analyst like any other person here, he might just be an influencer, which does not guarantee his say; although, we have seen how bearish the price has been a few days ago as the Bitcoin price came below $60k, but all these should not be a sign of a bear market according to him, it should be an advantage for people that are yet to invest before the price of Bitcoin takes another direction of no return.

[Asiska02]

Currently, Bitcoin's short-term trend remains bearish. It has yet to confirm any bullish trend reversal. Crypto analyst Josh said in his latest analysis that Bitcoin is still showing a short-term bearish signal. He also said Bitcoin has seen a repeat of past price movements.Analyst Josh checked the Bitcoin chart, he found that the DXY (U.S. Dollar Index) was trending higher, making higher lows and higher highs, indicating a bullish trend for the DXY. Since Bitcoin was around $67,000. When DXY trends upward, it usually means bearish momentum for Bitcoin and vice versa.

Bitcoin has been bearish and everyone knows that. It is very obvious that bitcoin is holding up strong and can be a great sign for a dependable asset to be invested in. Don’t get too confident with this analysts, they are mostly on the trading aspect of bitcoin and to earn well in their trade during periods like this before the market recovers back. If you’re on that trend, please discard yourself from it as a long term investor and holder. Bitcoin will be an asset that you’ll earn greatly from and not regret from the investment you’ve done in them. Do your research about it to avoid disturb or think that your bitcoin will be lost forever or won’t make anything of it.