Bitcoin - a short pullback or a long-term bottom?

[Msile]

The recent rise in prices could also be due to the selling pressure decreasing due to tax season getting over. Also if we pump above $10k than we could very likely enter the bull cycle again and leave the bear phase behind us. Lets hope this isn't a bull trap and Bitcoin market is entering a bull period.

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[loicuagio1979]

Yes, Strong pullback obviously after a long bearish market. Bitcoin has broken its $8200 wall and seems like set to towards big stage. Still continued positives and right now up to $8500 position. Chance a bigger move up hence I'll keep my eye on this. Would love to hear big positive news in the meantime in order to see more action on price.

I have some good news for you to take into your consideration:
1. Saxo Bank has just published “quarterly outlook” which predicted a bull market starting in the middle of the second quarter
2. Pantera Capital- Blockchain released the first in a three-part research series on Bitcoin trading habits, and pointed out that 58% of the total Btc supply changed the owners in the past year. The market shall be moving to the fourth cycle of holding coins and to be ready for fresh price highs.
3. The Fundstrat Global Advisors cofounder, Mr Tom Lee, said a month ago that Btc has been oversold and kept predicting a $25,000 price by late 2018.

[Kprawn]

I think the $18,000+ ATH of last year was a freak show, because it was not anything like the peaks that we has seen in the

previous pumps. I doubt if we are going to see the same breakout as we saw in 2017. The gap between the lowest point and

the ATH of last year is just too big to recover in this year. The drop was just too big and too quick and a lot of people got

burnt.  

[loicuagio1979]

The $6k double bottom IMO has somewhat helped the traders fuel up and stock in as many bitcoins as they can in the mean time. After a series of bearish stints, starting from the Gox trustee crashing the market hard up to the tax day, right now it seems that the bulls are in power again (I hope). We clearly are poking the $8500 resistance level right now but still there are no signs of possible breakout from the said level, though there aren't any hints of any bearish movement in the market as well so we might be good.

Have you ever seen Great Wall in China? Don't worry guy, the $8500 resistance is just a barrier, not a wall. The Great Wall is $9.999,99 resistance. Traders and short-term investors shall take quick profit after buying at supported area. It's the psychological resistance also and, of course, btc shall need supporting news to persuasively overcome it.

[franky1]

blah blah blah

another topic of speculation all based on a daily movement of less than 10%

guys when will you learn. the price is never going to be a stable 0.03% rise a day..
it will never be a stable/guarantee double your investment in a year.
some people who are smart can double their income in weeks. and some emotional investors may lose... get used to it

it always going to go up and down
just enjoy you can make more then 1% a day if your smart enough

just stop caring, viewing, thinking about the ATH(all time high). all that matters is the low. and you will notice that the yearly low is on a increase since 2009
stop hoping for another one time spike. because when it actually happen 99% of people wont have fast enough fingers to take advantage of it and then when it corrects to a low. you just sat there waiting for the next ATH spike and hope your online fast enough.. (which most never are)

so just stop screaming "bitcoin is less than half the value of ATH".. instead say bitcoin is $2k higher than the LOW of 6 months ago

..
smart traders dont care about ATH
smart traders dont speculate years ahead
smart traders dont trade once a year hoping to double their funds. by having the luck of being online the exact second a ATH spike occurs
smart traders take their 1% a day and cumilatively it all adds up to a more secure profit

[Victorycoin]

I think it's still early to tell. according to Tone Vays we need to hang around the 8,000$ area for a week. and then see what happens, maybe after that we'll get some clear bullish signals. I am optimistic over all, but we need to be careful with times like this

He also said that we not only need to maintained $8000, but we need to test and overcome the next mental barrier that is around $8500-$8600. Currently we are still on track to hit on in the next couple of days if the trend continues.

After 5 months of heavy selling pressure, Bitcoin and altcoins have signaled to a bullish momentum pattern to buy. The recent low of roughly $6,500 comprised a 75% loss in value from last year’s highs of approximately $20,000. Currently, as with many other cryptocurrencies market, it finds as though the next move for BTC will likely be either more bullish momentum towards the 23.6% retracement area and even $10.000, or a declining pattern to retest the descending trendline that BTC recently overcame.

I believe that bitcoin and many blue-chips have completely bottomed out and have been confirmed both by hedge funds independently and technical analysis tools. What do you think?

Obviously we have (double) bottom at $6500 that's why we have some sort of recovery around $8+++.  So it this price is not sustainable then expect another pullback, however its seems that the bullish sentiment has started to build up so another critical week to see if the pattern will continue and sustainable and test $8++ levels.

First off, it is worth noting that prices in any financial market never continues indefinitely in any one direction, but continually reflect the net effect of the pressures of demand and supply. So for price to have made double bottom around the $6500, it's an indication that a strong support is forming at that level and a rally in view.    Should price bounce off that level again, it would likely be the ride we have been waiting for.

[djsugar]

After 5 months of heavy selling pressure, Bitcoin and altcoins have signaled to a bullish momentum pattern to buy. The recent low of roughly $6,500 comprised a 75% loss in value from last year’s highs of approximately $20,000. Currently, as with many other cryptocurrencies market, it finds as though the next move for BTC will likely be either more bullish momentum towards the 23.6% retracement area and even $10.000, or a declining pattern to retest the descending trendline that BTC recently overcame.

I believe that bitcoin and many blue-chips have completely bottomed out and have been confirmed both by hedge funds independently and technical analysis tools. What do you think?

I feel the next three four days are crucial with this respect. If we keep seeing this phenomenal rise in the price of Bitcoin, then we can expect it to at least reach till the 12,000$ mark if not 20,000$. I am very bullish on the whole and I had been waiting for this time anxiously.

Rest we all know how uncertain this market is. If price can increase by 23% in a day, it can also come down by 50% in the next day. So, I would be carefully optimistic right now.

[dioanna]

Bitcoin is getting ready for a decision at the resistance line that has rejected it multiple times.
it will rally to $9000 hopefully when it clear the $8600 resistance.
Hoping for more good news to come then we can confirm this big movement from bitcoin.

[Veterock]

Bitcoin is a standard, classic venture investment and nothing else. There are no other options here.

[loicuagio1979]

I think the $18,000+ ATH of last year was a freak show, because it was not anything like the peaks that we has seen in the

previous pumps. I doubt if we are going to see the same breakout as we saw in 2017. The gap between the lowest point and

the ATH of last year is just too big to recover in this year. The drop was just too big and too quick and a lot of people got

burnt.  

Well. it's too early to confirm anything at the meantime and it's useless to find some fundamental reasons to explain ourselves. I agree with you that the gap is too big to bridge it. However, it's better to look at the present and follow the whales. According to Turtlebc.com, the buying demand for bitcoin has reached the highest level since March 2017. You can view the data here: https://www.turtlebc.com/tools/buy_percentage?period=2years

[letua]

It is depends of bitcoin price movement in the market. Less of investors to avail bitcoin the result btc decrease. The more btc investors the result btc price increase. The short fullback and the long term in the bottom is depends on btc investors whichever the season.

[Coffee135]

It is depends of bitcoin price movement in the market. Less of investors to avail bitcoin the result btc decrease. The more btc investors the result btc price increase. The short fullback and the long term in the bottom is depends on btc investors whichever the season.

I disagree with you. The number of investors may not change but the price of bitcoin will decrease. There are whales that have a lot of coins. Periodically they sell their coins in large quantities. Small investors can not buy so many coins because of the lack of money. In this case, the price of bitcoin decreases and the number of investors remains the same.

[loicuagio1979]

blah blah blah

another topic of speculation all based on a daily movement of less than 10%

guys when will you learn. the price is never going to be a stable 0.03% rise a day..
it will never be a stable/guarantee double your investment in a year.
some people who are smart can double their income in weeks. and some emotional investors may lose... get used to it

it always going to go up and down
just enjoy you can make more then 1% a day if your smart enough

just stop caring, viewing, thinking about the ATH(all time high). all that matters is the low. and you will notice that the yearly low is on a increase since 2009
stop hoping for another one time spike. because when it actually happen 99% of people wont have fast enough fingers to take advantage of it and then when it corrects to a low. you just sat there waiting for the next ATH spike and hope your online fast enough.. (which most never are)

so just stop screaming "bitcoin is less than half the value of ATH".. instead say bitcoin is $2k higher than the LOW of 6 months ago

..
smart traders dont care about ATH
smart traders dont speculate years ahead
smart traders dont trade once a year hoping to double their funds. by having the luck of being online the exact second a ATH spike occurs
smart traders take their 1% a day and cumilatively it all adds up to a more secure profit

I generally agree with your opinion. As you said above, you are a smart trader, aren't you? So, if you don't mind, I would like to ask you some questions:
1. How long have you traded btc or some altcoins? Did you buy btc at $3.500 and NEO at $18 like me and took profit at $10k?
2. Have you ever used bots, software or something like that to trade or trading with your fingers and brain only? If you guy are confident enough to be a smart trader, can you leave here/ share us some analysis of btc price in the near future: fundamental and technical ones for us to view?

Thank you in advance!

[scrototeabaggins]

The crypto money market is having a difficult time and in a market that will overcome these difficulties their position will be very different in the investors who can be counted as early as us. I think, bull season has not yet begun, but it might be approaching.

[CuDoCuDau]

After 5 months of heavy selling pressure, Bitcoin and altcoins have signaled to a bullish momentum pattern to buy. The recent low of roughly $6,500 comprised a 75% loss in value from last year’s highs of approximately $20,000. Currently, as with many other cryptocurrencies market, it finds as though the next move for BTC will likely be either more bullish momentum towards the 23.6% retracement area and even $10.000, or a declining pattern to retest the descending trendline that BTC recently overcame.

I believe that bitcoin and many blue-chips have completely bottomed out and have been confirmed both by hedge funds independently and technical analysis tools. What do you think?

Bitcoin will comback. I belevie it

[loicuagio1979]

The crypto money market is having a difficult time and in a market that will overcome these difficulties their position will be very different in the investors who can be counted as early as us. I think, bull season has not yet begun, but it might be approaching.

Dear mate,

For your doubts, a probable explanation is that these frequent suspicions are the results of too long dumping of bitcoin. Although the recent soar of bitcoin and crytocurrencies did not erase traders’ fear, these results should be taken into our consideration. Ensuring appropriate rise, supporting news for Bitcoin, to some extent, should be a priority for the time to come.
If you still do not believe the price of bitcoin has been on the upswing, feel free to visit my thread: https://bitcointalk.org/index.php?topic=3198593.0

Best regards

[Pursuer]

Although the recent soar of bitcoin and crytocurrencies did not erase traders’ fear, these results should be taken into our consideration.

unreasonable fear is not something that a true trader has. the fear that you are talking about is what the newbies have who think they are trading but in reality they are gambling.

a true trader has uncertainty and he always has it, it ever goes away. at times like the bottom when price was still around $6800 and was struggling or even when it jumped to $7900-$8000 things were still uncertain but since the ~$8000 held on pretty nicely and also because it went higher afterwards that uncertainty is no longer an issue. the rise is here now.
we may not yet be in a big ass bull market but the bear market is for sure over.

[imapessimist]

I think this is a temporary rise and it will fall back again because the volume is very low.  Why would people buy at nearly 9k when the price a week or two ago was 6k. 

[Palmerson]

I think this is a temporary rise and it will fall back again because the volume is very low.  Why would people buy at nearly 9k when the price a week or two ago was 6k. 

I have read such reviews many times. It's not funny anymore. You can further dream about the price of 6K dollars. Six months from now, you'll regret it. The price will be 30K dollars. Many users still regret that they did not buy it in 2011-2016. With this mindset, you need to leave the bitcoin community. Earn Fiat. There is always stable inflation.

[imapessimist]

I was not meaning to be funny.  It's only what I think.  And it's really dangerous to think that the only way is up so lots of folk rush in like last time and lose their money.