Is this time different?

[Mpamaegbu]

I read a blogpost last week stating that Bitcoin chart isn't bearish.

I don't know from what angle the blogpost saw the bearishness of Bitcoin because from a higher timeframes – Weekly and Monthly, charts show it's bullish though there's a strong resistance around $107,740 and on the weekly close for last week there's a reversal candle which the present weekly candle is proving stubborn to obey.

Are institutions and Government demands on Bitcoin able to save the chart this time?

Do let me know your thoughts.

Hopefully, fundamentals from government and institutions will push price above to break that resistance up there. The only sad thing now is this ongoing war between Israel and Iran. Bitcoin will likely dump seriously once the US becomes actively involved in this war. That's my thought on it.

[Ethan_Crypto]

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Do let me know your thoughts.

That's why I'm less optimistic right now that Bitcoin will reach as high as $125,000 or even $120,000.
That double top formation could mean 2 things. We've already reached the peak of this bull run, or it's just a normal movement and we will see still new ATHs in the following weeks or months.

I looked at the chart, and I didn't see the same bearish divergence that we saw when it reached $109,000 last January. If there are divergences being formed then that's a big sign that the market might be reversing, but so far we haven't seen it yet, so still it is bullish. At the end of the day, it will all depends on how people read the charts. That double top formation might be bearish for some, but for some, that might not be.

As for the Government and those institutions out there, they aren't superheroes where they will save the world.

Interesting take! I will watch out for a bearish div like you mentioned and would use that to confirm

[YOSHIE]

Do let me know your thoughts.

You will never win, if the government has interfered in the crypto market, they do not side with the common people, that is not a fairy tale that almost happens in all countries/world.

For that, now you just focus on your destination, if you want to trade in the crypto market, choose spot trading, I think that method is better than you choose the margin or futures trading method.

Even though Bitcoin cannot control full control by the government, they can make the crypto market erratically, they can make them at will to get passive benefits.

[hero_the_bossman]

Do let me know your thoughts.

You will never win, if the government has interfered in the crypto market, they do not side with the common people, that is not a fairy tale that almost happens in all countries/world.

For that, now you just focus on your destination, if you want to trade in the crypto market, choose spot trading, I think that method is better than you choose the margin or futures trading method.

Even though Bitcoin cannot control full control by the government, they can make the crypto market erratically, they can make them at will to get passive benefits.

Profit is at hand, and it doesn't matter for them when to collect it - and how too

Smart money goes on its own, like a wave.

[BlackBoss_]

Hopefully, fundamentals from government and institutions will push price above to break that resistance up there. The only sad thing now is this ongoing war between Israel and Iran. Bitcoin will likely dump seriously once the US becomes actively involved in this war. That's my thought on it.

Market will be shocked but how long its effect will last, it's very uncertain now. If Iran collapse quickly like Hamas, Houthi and Hezbollah, market will recover quicly weeks later even with V-shaped recovery like how it reacted after WHO's announcement on Covid-19 pandemic in March 2020.

I don't hate Iranians but it seems their people are ready for another revolution that was triggered by Israel proactive attack days ago. The regime of Khamenei might collapse quickly like how Assad regimed did collapsed within a few days months ago. It can happen faster if the USA join this war against Iran and many signals that they are going to join this war very soon with ultimate goals is destroying nuclear facilities in Iran and at the same time support a revolution there.