Bears still dominate the market, downtrend remains intact

[bobo012]

I don't think that the market is particularly dominated by bears or bulls right now, it seems to be that neither of them really have that much ammunition, there's low selling volume and low buying volume and that's why the price is relatively stable. It will be interesting to see how things unfold in the coming days and weeks, a stable period would probably be good to allow people to take stock and to dispel a lot of fear around the market.

Yes, It's right. The market is now stable. This is what has happened several times. Both buyers and sellers are waiting now to see the market in coming days or maybe coming months.
And I think uptrend and downtrend both are possible. We should wait untill whales decide or maybe an important positive or negative news affects the market.

I don't see this market as stable. It is anything but stable, it is a chop shop. Somebody is trying to rekt both shorts and longs, and is succeeding very well it seems. It may be overvalued or undervalued, but it is definitely manipulated hard right now

[1715077455]

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[cellard]

Still not a problem, start worrying when we cross this long term resistance line:

Until then, we are doing just fine and we are doing good as usual, not really a bear market, we just got out of hand with that massive 20k FOMO pump. Now it's time to accumulate as all the idiots get rekt, buy monthly, then come back in a year or two and you'll see how current prices are a bargain. Ideally, you want it to go under that line so idiots start thinking "Bitcoin is dead", which means Bitcoin is on a sale and it's the best possible scenario to accumulate.

So end of may price 7k , or less , start worrying ?

Yes, according to technical analysis, it would be around $7200, if that doesn't hold then we should fall, but remember that technical analysis isn't a science, it's just lines on a screen which others might or not follow.

A single tweet from a strong party could make the price moon and we would be above the resistance line again, shorts would get rekt in no time.

[Sir Cross]

Still not a problem, start worrying when we cross this long term resistance line:

Until then, we are doing just fine and we are doing good as usual, not really a bear market, we just got out of hand with that massive 20k FOMO pump. Now it's time to accumulate as all the idiots get rekt, buy monthly, then come back in a year or two and you'll see how current prices are a bargain. Ideally, you want it to go under that line so idiots start thinking "Bitcoin is dead", which means Bitcoin is on a sale and it's the best possible scenario to accumulate.

So end of may price 7k , or less , start worrying ?

Yes, according to technical analysis, it would be around $7200, if that doesn't hold then we should fall, but remember that technical analysis isn't a science, it's just lines on a screen which others might or not follow.

A single tweet from a strong party could make the price moon and we would be above the resistance line again, shorts would get rekt in no time.

There are many other factors that may play which technical analysis do not take account for. Whales have a tremendous influence over the price and when a dump is made, it could easily make the price drop. The price may go down to $7K but with other factors to consider such as when positive news would come out resulting to higher demand then the price may get even higher than that. With all these factors, a technical analysis may help us be prepared or make predictions but it is not the sole determination of price.

[Silberman]

Minor attacks initiated by bears continue emerging on hourly chart, the market is dominated by bears as we’ve seen no resistance from bulls so far.

Some investors believe bull market is near the corner, but it doesn’t make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.

Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.

But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.

Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.

Original by Kuang Ren, translated by AICoin Jami.

It is kind of obvious that the bears are ruling the market right now, every time there seems to be a slight recovery the bears begin to sell their coins and the price goes down this means there is not really a great support for a bull run in the short term and that we need to get used to the current prices of bitcoin for a long time because I do not think this is going to change in the short term.

[AICoin_Official]

Still not a problem, start worrying when we cross this long term resistance line:



Until then, we are doing just fine and we are doing good as usual, not really a bear market, we just got out of hand with that massive 20k FOMO pump. Now it's time to accumulate as all the idiots get rekt, buy monthly, then come back in a year or two and you'll see how current prices are a bargain. Ideally, you want it to go under that line so idiots start thinking "Bitcoin is dead", which means Bitcoin is on a sale and it's the best possible scenario to accumulate.

That's impresssive, thank you for your sharing.

[timerland]

Minor attacks initiated by bears continue emerging on hourly chart, the market is dominated by bears as we’ve seen no resistance from bulls so far.

Some investors believe bull market is near the corner, but it doesn’t make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.

Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.

But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.

Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.

Original by Kuang Ren, translated by AICoin Jami.

A good analysis in my opinion.

I don't think that we're going to really go up at this point. Now that we're under $8k, the resistance at $8k is extremely strong. The two attempts at breaking $9k were both unsuccessful, which is why we haven't actually broken out yet.

Most likely, we are going to go down to around $7k, stabilize there somewhat, and then see if support of $7k holds up. If that doesn't hold up and there are no major bullish outbreaks, then BTC could be going down and testing the $6k support which was the previous low. Either way, markets are extremely bearish at the moment and it shouldn't return to a bull market anytime soon, probably until May-June.

[Suslura]

I don't think that the market is particularly dominated by bears or bulls right now, it seems to be that neither of them really have that much ammunition, there's low selling volume and low buying volume and that's why the price is relatively stable. It will be interesting to see how things unfold in the coming days and weeks, a stable period would probably be good to allow people to take stock and to dispel a lot of fear around the market.

Yes, It's right. The market is now stable. This is what has happened several times. Both buyers and sellers are waiting now to see the market in coming days or maybe coming months.
And I think uptrend and downtrend both are possible. We should wait untill whales decide or maybe an important positive or negative news affects the market.

I don't see this market as stable. It is anything but stable, it is a chop shop. Somebody is trying to rekt both shorts and longs, and is succeeding very well it seems. It may be overvalued or undervalued, but it is definitely manipulated hard right now

The fact is that many users who save more of the crypto currency manipulate the market by throwing a certain number of coins into the market. I think that this trend will continue for a long time and it is impossible to predict the results.