Overall trend remains bearish, your thoughts?

[dothebeats]

And the whole climb to $11k was yet another bait, and most of us instantly believed that we're recovering. Also, add to that fact that the recent news about the Gox trustee selling chunks of bitcoins in exchanges, the supposed Binance hack and loads of negative press = bears overpowering the bulls. Wouldn't want to go full bullish a week ago and my thoughts were right; luckily I haven't bought anything @ $11k as it seems tobl be strange that the price pushes up rapidly without any real incentive from the market.

[1714770268]

1714770268

[pixie85]

I am somewhat bearish because of the MT.Gox news but that is only one side of the story. There are 10+ other sides which you must consider and if the market can absorb all that dumping off BTC that alone should be a bullish signal. Combine all factors and you have some bullish some bearish, wouldn't be surprised if we ranged for another couple of months.

The fundamentals haven't changed because some idiot lawyer decided to sell Mt.gox coins on an exchange instead of auctioning them. It's still the same Bitcoin and it will go back up once the coins are sold and the gox dust finally settles. I think it's great that the price is so high despite all the rumors and FUD.

[pooya87]

as far as my knowledge goes, a bear market is where the prices are dropping at least for the most part so it is best to sell instead of buying.
but when looking at bitcoin charts, ever since the bottom was reached thanks to the massive dump at $5900ish we are seeing downs AND ups at the same time which you may call sideways. price goes above $10k then falls below it to go back above it again. rinse and repeat.

[timerland]

a low was formed at $9,400 with expanding volumes and a lower shadow yesterday. Today, BTC starts a minor rally without breaking below the low, indicating that price receives effective support around that price, short-lived as it is, we can still draw a conclusion that momentum from bears is weakening. In terms of volumes and momentum, however, bulls keep silent, making me believe that a minor bounce seems more reasonable. After reaching to MA 5, price will keep dipping as the overall trend remains bearish.

Original by Kuang Ren, translated and posted by AICoin Jami.

Check the full version here:https://www.aicoin.net.cn/article/16384.html

We're only seeing a reaction from the market due to the articles that came out about Binance/SEC/etc.

It's not bearish. It's just a panic dump.

We actually haven't seen prices move down too much each time one of these dumps happen. In fact, the floor at which the prices rebound at is actually getting higher and higher which means that we are indeed in consolidation mode.

Once we see the $10k floor hold up to a panic dump, that's when we'll see a major rally up to $14-15k. But this year shouldn't be overly bullish either.

[gabmen]

I am somewhat bearish because of the MT.Gox news but that is only one side of the story. There are 10+ other sides which you must consider and if the market can absorb all that dumping off BTC that alone should be a bullish signal. Combine all factors and you have some bullish some bearish, wouldn't be surprised if we ranged for another couple of months.

The fundamentals haven't changed because some idiot lawyer decided to sell Mt.gox coins on an exchange instead of auctioning them. It's still the same Bitcoin and it will go back up once the coins are sold and the gox dust finally settles. I think it's great that the price is so high despite all the rumors and FUD.

Amd its rising. The fear of further sell off was tamed when its official that they can't do that until september so pretty much we'll see accumulation again for btc. 10k has been broken already amd market is looking quite good so let's just wait and see.