Bullish outlook for BTC - will it last?

[dennisch123]

RSI at 62, major trend lines crossing soon around $7600, then a dip to $6500 and then moon?

That's what this article says: https://www.cryptonewsinc.com/a-bullish-start-of-september-for-bitcoin-will-it-last/

Agree or disagree?

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[EmmaBen]

Do not bother about a whether bullish trend will last. Leverage on making save profits in stata

[pooya87]

crossing soon around $7600, then a dip to $6500 and then moon?

i am not really good at TA because i don't like it but what you said doesn't make any sense to me at all!
you are basically expecting this slow and strong rise with a decent buy support to go to $7600 and the whole process would take a long time. then you expect it to have a huge drop, it is not just the size, the size of the drop is not that big it is huge because you are expecting a drop way below a major resistance at $7000!
if there is a bull run then there will be enough buy support to keep the price above $7k and if there is not, a drop back to $6500 is NOT going to be followed by "the moon"!

[johnokeefe09]

You should not think about this as the market is very much volatile. There is no surety of Bull Run or bearish run. Moreover this year is very much volatile and such prediction will not benefit you most. Think about investment opportunity and make investment.

[Kakmakr]

If rumours are true and there are some whale dumping 1000's of coins on major exchanges, then we are going to see a slight decrease in the price of bitcoins, until the market absorbed all those coins. 

I cannot understand why a whale will intentionally want to crash the price, by doing it in this way. I would have rather used OCT trading with more privacy and zero slippage, but I figure this person wants to intentionally hurt the price. 

It would be sad, if this was true. 

[Jannn]

The cryptocurrency market is f***ing pathetic. One piece of bad news sends it into a tail spin towards $0. Can you imagine if this news hit a fiat currency like the EUR or USD? There would be absolutely no change in valuation. Imagine if there were 3-4 of these bad news in a row? It would probably send Bitcoin down to $1,000, knocking 90% off the market capitalization. Can't wait to get out of this pathetic market.

[xbossJ]

Unfortunately what we have can't be readily described as a bulle run! Its quite sad that the market isn't yet finding its steam! shuffling between $6000  and $7000 is not something anyone would appreciate now! this is really affecting the altcoins and its not  funny with some of us! how can one recover loses incurred in such a bear market?? the pain is just increasing by the day and I hope we find a course to rejoice soon enough! From the constant short rises and falls its difficult to think of the bull run of last December! Quite sad. But  life will never seize to amaze us, the next trend my just be it

[7jaka7]

The cryptocurrency market is f***ing pathetic. One piece of bad news sends it into a tail spin towards $0. Can you imagine if this news hit a fiat currency like the EUR or USD? There would be absolutely no change in valuation. Imagine if there were 3-4 of these bad news in a row? It would probably send Bitcoin down to $1,000, knocking 90% off the market capitalization. Can't wait to get out of this pathetic market.

Isn't this perfect for traders? They earn with volatility.
And I highly doubt few bad news effect would sum up. The only one selling because of the news are those who are new in the market. I think I would only sell certain currency if a news about exploited blockchain would come out, or something like that - technical problem.
Anyway good luck with your exit and see ya in next bull run.

[Pursuer]

The cryptocurrency market is f***ing pathetic. One piece of bad news sends it into a tail spin towards $0. Can you imagine if this news hit a fiat currency like the EUR or USD? There would be absolutely no change in valuation. Imagine if there were 3-4 of these bad news in a row? It would probably send Bitcoin down to $1,000, knocking 90% off the market capitalization. Can't wait to get out of this pathetic market.

Isn't this perfect for traders? They earn with volatility.
And I highly doubt few bad news effect would sum up. The only one selling because of the news are those who are new in the market. I think I would only sell certain currency if a news about exploited blockchain would come out, or something like that - technical problem.
Anyway good luck with your exit and see ya in next bull run.

the bold part is wrong.
experienced traders and newbies both sell based on news. the difference is in the timing of them. the experienced trader sells when he sees a negative news and signs of a drop based on speculation and he sells when there still is time.
the newbie on the other hand sells based on panic and based on the fact that price has already fallen and he does it way too late when price is near the bottom.

and selling is not "exiting", selling is taking advantage of the opportunity (for the first group) and is losing money (for the second group). a speculator or a day trader increases his wealth this way and a newbie decreases it.

[buwaytress]

And see how things just quickly fall apart after one day, as usual without rhyme nor reason. Already see a news article about some AI bot supposedly predicting this crash before it happened but we're all back to square one, or square zero or whatever, with no better idea about where we're headed. Was it the Goldman Sachs exchange being dropped? Was it the dormant 110k BTC wallet that suddenly struck panic? Whales taking a dump?

If you haven't realised that the bull might not be here for a long time yet, now's the time to let that sink in.

the bold part is wrong.
experienced traders and newbies both sell based on news. the difference is in the timing of them. the experienced trader sells when he sees a negative news and signs of a drop based on speculation and he sells when there still is time.
the newbie on the other hand sells based on panic and based on the fact that price has already fallen and he does it way too late when price is near the bottom.

and selling is not "exiting", selling is taking advantage of the opportunity (for the first group) and is losing money (for the second group). a speculator or a day trader increases his wealth this way and a newbie decreases it.

The channels I'm following that got this right set their shorts on 7300, but even they didn't foresee the drop to 6200, with TP around 6900. No news could have preempted this slide, if anything sentiment was largely bullish across the board.

Seems a bit like luck to me, but yeah definitely not the newbies only doing the selling.

[funchiestz]

These bottom theories are not over. It's been 10% more lost today. I hope this is really the last loss.

[Ebeano]

No one can say.
Butcoin is highly  volatile  and so unpredictable.

[glaccief]

Instead of this, it will be better if we make better investment plans and good strategy in order to invest them. Also predicting for a bull run or if the market is still bearish is tough call because the market is so volatile.

[Ezenwanyi]

It can only last if investors/traders maintain a certain level of positivity.
But it won't be for long.... considering the high volatility nature of bitcoin.

[Golftech]

Another whale dive, the bullish trends got burned by this or those whales who always kill the market, people who know how to take advantage of their
big capital are really doing it well, just by few news and everything got burned into square one again, now we are seeing a downtrend which seems to
continue a little more, we need some good analysis and patience to hold on.

[cuongskymtpcute]

No one can predict what will happen to the coin market. As it is in the panic period to eliminate the garbage coin not worth going. And maybe the following days will be better  . Have a good day.

[Pursuer]

The channels I'm following that got this right set their shorts on 7300, but even they didn't foresee the drop to 6200, with TP around 6900. No news could have preempted this slide, if anything sentiment was largely bullish across the board.

Seems a bit like luck to me, but yeah definitely not the newbies only doing the selling.

it is rarely about predicting a certain trend in the market, specially in short term and when it comes to bitcoin. it is about reacting to the market as fast as possible. for instance yesterday's drama with Goldman Sachs and  the altcoin dump that was mainly centered on ETH and that article talking about its doom which even made Vitalik make a comment on it, was a big ass sign saying there is going to be a big ass drop.
the whole point is how different people react to that kind of sign. it became obvious around the time when price was about $7000-$6900 a sell then would have been a good idea.

similarly the 111kBTC had the potential to become similar but the market did not react to it. part of speculation is speculating that drop but also waiting to see if you were right about it or not.

[Broure]

There is no absolute answer regarding this. In this market you can just predict or assume but there is no certainty regarding this. At the same time the market is very much volatile this year and so you should not rely on such prediction.

[ubercool]

The channels I'm following that got this right set their shorts on 7300, but even they didn't foresee the drop to 6200, with TP around 6900. No news could have preempted this slide, if anything sentiment was largely bullish across the board.

Seems a bit like luck to me, but yeah definitely not the newbies only doing the selling.

it is rarely about predicting a certain trend in the market, specially in short term and when it comes to bitcoin. it is about reacting to the market as fast as possible. for instance yesterday's drama with Goldman Sachs and  the altcoin dump that was mainly centered on ETH and that article talking about its doom which even made Vitalik make a comment on it, was a big ass sign saying there is going to be a big ass drop.
the whole point is how different people react to that kind of sign. it became obvious around the time when price was about $7000-$6900 a sell then would have been a good idea.

similarly the 111kBTC had the potential to become similar but the market did not react to it. part of speculation is speculating that drop but also waiting to see if you were right about it or not.

I was also thinking about the 111kBTC and Had put shorts at 7.3k

I was just lucky I guess but the market is highly volatile so should wait for the time.

[Planeparke]

The value has dropped significantly I'm the past few hours.
And the current bear trend seems to be getting worst.