Bitcoin is bearish trend now.

[The Cryptovator]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

[1715533915]

1715533915

[1715533915]

1715533915

[1715533915]

1715533915

[1715533915]

1715533915

[vidivici]

I'm afraid the bitcoin price will not go up as high as last year, because there are a lot of factors that can cause bitcoin prices will not be high anymore. One of the factors is the popularity of Ethereum, ethereum is currently quite popular and the amount of transaction activity per day has beaten bitcoin.

[gabmen]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

I won't really say it's bearish. Probably we're still in between. The drop isn't something to be concerned about right now since we're pretty much seesawing around 8.5k. And bitcoin has been moving slowly this year as well.

[Pursuer]

I disagree. you can't call this any trend because it is not moving at all. what happened was that price fell below $9k in one big move and then nothing happened ever since that  day.
a bearish trend is when price is going down without much of a stop and it won't just happen in one or two days. in other words if price fell below $9k then went lower to reach $8k and then continue to drop below $8k and slowly decrease that would have been a bearish trend. do you see that happening? obviously not.

[exstasie]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

If bulls can break $9,000 and hold above on pullback, it'll look bullish. That's a major level from S/R perspective (in fact, it was my stop loss for that reason).

I disagree. you can't call this any trend because it is not moving at all. what happened was that price fell below $9k in one big move and then nothing happened ever since that  day.

Technically, we're still in a downtrend from the $20K high, at least in terms of Dow theory. We need to break the series of lower highs, so that means breaking above $10,000. I'm still partial to the $14,000-$16,000 bull trap idea. But I won't be convinced until we make a higher high.

[Denker]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

Of course we are still bearish. And to see a massive shift in sentiment, we need to break at least 12k in my opinion.
And no we won't be bullish if we cross 8900. Do you know how technical analysis works? Do you know what a trend reversal is and what is needed for that to happen? I recommend to study the basics again.
What could be seen as a bullish sign is that the sell offs are getting weaker and weaker with each wave (daily chart). Therefore it is possible that most of the weak hands are already out.

[peter0425]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

We are really not out of the woods yet. Although the price seems recovering from the last bottom of around $6K, and we hit almost $10K, the market drops again. So I don't know if we can trust those TA again, as it doesn't seems to be very applicable in this kind of market. So let's wait and see if we can get over the $8900 mark as you have predicted, or its going to be a repeat and the price goes below $8K. Because I doubt that even if we get to $10K, we can still see price goes down rapidly, I think for me if we go double the last bottom of $6500 and goes to $13K then chances are, the bullish sentiments is really over. For now its still waiting game for all of us.

[1Referee]

Consolidation isn't bearish. It's pointless to focus on what happens if we break this or that level, because it just isn't enough to break the $10,000 level, regardless of whatever empty TA theories people come up with. All this bull and bear talk is utter nonsense. Just let the market move in its own pace and we'll see what happens after that. Fact of the matter is that nothing justifies the market to jump over the $10,000 level right now, and the lowest range of Bitcoin's 'utility value' in my opinion is well under $8000 still.

It's purely a 50/50 shot right now in terms of seeing the market break out of its consolidation range. I personally wouldn't mind seeing the price hover around current levels for a few more months, but I don't think the action obsessed market can handle that. Either way, as long as we keep setting higher bottoms we are all fine, and thus far it definitely seems like we are progressing nicely in that field.

[harizen]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

Today's Open was $8,395.23
Today's High was $8,405.18
Today's Low was $8,260.78

Almost just an identical movement yesterday and on the other day with a within a small range. Just because we can't see such actions today we can now considered it as bearish trend. A bearish trend is a continous movement and yet this current movement we are seeing today is just like a roller coaster movement.

I suggest to just sit back and have a coffee somewhere while waiting for your target desired price.

[exstasie]

Consolidation isn't bearish.

From a TA perspective, it depends what the larger trend is. Sideways following a trend usually means continuation. Nothing is a sure thing; BTC in particular loves to break upward from "bearish" wedges and such. So don't get me wrong. But trading is about recognizing setups based on probability, less about crystal balls. Traders will always be wrong a lot of the time. It's all about managing the risk and letting your winners run when the trend is strong.

It's pointless to focus on what happens if we break this or that level, because it just isn't enough to break the $10,000 level, regardless of whatever empty TA theories people come up with. All this bull and bear talk is utter nonsense. Just let the market move in its own pace and we'll see what happens after that.

If it were all nonsense, traders couldn't make a living.

Sounds like an investor (vs. trader) mindset. Nothing wrong with that. But I've done well trading the TA over the years.

Either way, as long as we keep setting higher bottoms we are all fine, and thus far it definitely seems like we are progressing nicely in that field.

Let me introduce you to the symmetrical triangle. Higher lows, but lower highs, until the range breaks. I'm actually not betting on this, but it's good to keep in mind the different possibilities:

[1Referee]

@exstasie, I just knew that you would jump on it.

I like your neutral and fair counter reaction, and it does makes sense. If I wasn't out of sMerit I would have given you a few.

I'm not ruling out that traders can't make a profit out of the market based on that, and I am happy for you that you managed to successfully trade your way up with it, but those who do are part of a minority. It's the majority (those who don't actually manage to benefit) that keeps flooding the internet with all these analysis and projections not leading to anything. My earlier post was mostly directed towards that majority group.

[magneto]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

Imho, even if bitcoin crosses $8.9k, it wouln't convince me that we're in a bullish trend.

We have seen that the $10k level is extremely strong as resistance. That is probably not going to change as fact any time soon. It honestly depends when we cross that $8.9k level, if it's after months of consolidation, and bitcoin made its way up from a new bottom, then it could have a high likelihood of the start of the recovery towards the next bull market. However, if it's just a bounce from the $8k level, it's probably temporary.

But right now, bitcoin is quite bearish, or at least I don't see any major upward momentum that is going to come until nearing the end of this quarter of the year. We could go down to even test the $6k support, during this correction.

[bozo333]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

I don't know who said this price prediction because bitcoin future possibilities is still undetermined so no one judge the bitcoin hype. Last week this reach more than 9k USD but suddenly it was continuously down in the market. The main reason of price fluctuation is defined by supply and demand it will pump again so we must wait one more month.

[davis196]

I would call it a "silent" trend.It looks like all the "bulls" and "bears" are somewhere else and they are focused on pumping&dumping altcoins.The bitcoin market is sleeping,and nobody wants to awake the monster called "panic selling".The btc price crash will happen during the summer,so just HODL and wait for the perfect time to buy.

[Febo]

Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.

Since I am not  daytrader I personally dont question myself till what price Bitcoin will decrease, but until when. Only time is that makes me curious. Will bearish trend stop this year or will it stay till next year.   For sure it will not last till 2020. Probably in 2020 we will get new bubble.

[Theb]

Ever since Bitcoin rejected to go above 10,000$ in our recent attempt where we got high as 9,930$ we are on a bearish trend. Although for a quite some time during the late rally when we reached 9,400$ we are on a bullish trend but the bears are really stronger as of the moment. But with the recent bounce from 7,900$ we are seeing that Bulls are fighting to go and try to have a reversal also in the latest 4 hour chart you will see that there was a rejection on the MACD on Bitcoin having a bearish divergence crossover which is important to see who is in control of the situation.

[electronicash]

it could actually break out to bull trend after we seesaw who knows maybe finally a big news will come. there is just so much going these days its confusing for investors who are just relying on fundamental strategies by following crypto news. the tweets of the team who develops my fav coins are something that would help me decide whether to sell or not.

[fabiorem]

Its a multi-year bear market. It started in December 2017 and will last until May 2019.

[richardsNY]

Its a multi-year bear market. It started in December 2017 and will last until May 2019.

Yes, especially because you say so. 

I am not really into bearish talk, but the market is constantly moving within lower ranges, where each time it becomes more difficult to set lower highs. The failed $10,000 attempt while we were extremely close, once again points that out we might be hovering around current levels for a longer while. For now $8000 seems to be holding nicely, but without anything changing I can see an adjustment to $7500, where everything will repeat and potentially adjust to $7000 to hopefully find a new bottom. The main point of importance is that the general market isn't really interested in buying unless we fall back to $7000 and below. I can perfectly understand that because my buying target is below the $7000 level as well....

[el kaka22]

I'm afraid the bitcoin price will not go up as high as last year, because there are a lot of factors that can cause bitcoin prices will not be high anymore. One of the factors is the popularity of Ethereum, ethereum is currently quite popular and the amount of transaction activity per day has beaten bitcoin.

Well, nothing should be expected that much now and from the way things are in the market, the gospel through is that there is a huge mixed feeling. If you look at the weekly chart, it looks bullish, the daily chart is forming a higher low somehow until further notice, and the lower time frame, the market is filled with a lot of indecision. Nothing is actually certain and going way above $8900 still does not guarantee any bull sign as that is not even going to be a huge resistance to be more wary of anyway.