Bitcoin Market Analysis (Price Action).

[el kaka22]

What charts do not tell you that this drop was caused by someone selling over 200 million dollars in bitcoin and the market had to buy that out which dropped the price insanely fast. That wasn't on the chart, you can't predict that.

How could you foresee someone selling over 200 million dollars in bitcoin to market prices when you look at a chart ? Impossible to assume and that is why bitcoin is never done via charts, you can't predict what will happen looking at the charts and draw some lines on it.

Bitcoin is something that is done via just regular old whales doing whatever they want and getting what they want back from it. Dude managed to sell so much coins but also after the price dropped he managed to get back almost the same amount of bitcoins for far cheaper as well, all proven via blockchain watching and the price is lower however he has a ton of dollars with the same amount of bitcoins thanks to this move, that's it.

[Faysal Fahad]

Hello Community; till now Buyers controlling this support zone! Very soon (maybe) we are going to see impulsive bullish candles! (for more details, just follow my previous chart)

[JeffBrad12]

Hello Community; till now Buyers controlling this support zone! Very soon (maybe) we are going to see impulsive bullish candles! (for more details, just follow my previous chart)

Bitcoin has already surpassed 8k resistance point again and it looks like we will see another reversal trend from the bearish to the bullish.
I just try to put 8.9k as the next resistance point to the bullish trend of bitcoin.

Good news is needed to make bitcoin can break 9k rate in the future.

[pooya87]

Bitcoin has already surpassed 8k resistance point again and it looks like we will see another reversal trend from the bearish to the bullish.
I just try to put 8.9k as the next resistance point to the bullish trend of bitcoin.

Good news is needed to make bitcoin can break 9k rate in the future.

bitcoin has not been bearish ever since price went above $4000 although may users insist on staying bearish themselves and go against the tide. other than that we are only seeing a very simply correction here which has nothing to do with being bearish.
as for $9k, i don't think we need any kind of news at all. we are headed that way and it will be broken with time.

[omonuyak]

Bitcoin has already surpassed 8k resistance point again and it looks like we will see another reversal trend from the bearish to the bullish.
I just try to put 8.9k as the next resistance point to the bullish trend of bitcoin.

Good news is needed to make bitcoin can break 9k rate in the future.

bitcoin has not been bearish ever since price went above $4000 although may users insist on staying bearish themselves and go against the tide. other than that we are only seeing a very simply correction here which has nothing to do with being bearish.
as for $9k, i don't think we need any kind of news at all. we are headed that way and it will be broken with time.

Because of the way some people come into cryptocurrencies trading, they always thinking that when the market is bullish, it should be going up continuously without a little corrections along the line and when that is happening we would began to see comments on how the bullish trend has ended, the market is bearish now and so Fort and so on. People need to know that corrections most take place on both bearish and bullish market.

[BitHodler]

People need to know that corrections most take place on both bearish and bullish market.

Exactly. Most people unfortunately do not understand this and continue to see corrections as a negative event. Instead of buying the dips they wait for a massive pump and then buy the top. Makes sense, right? 

I sold a bit too early and would love to be presented an opportunity to buy them back. I'm better off just doing what I'm good at instead of trading, which is being a firm hodler.

All indicators that used to make sense no longer do, which reminds me of the 2017 bull run where people were wrong calling top at every $500-$1000 increase. Hodlers were the real winners while many traders sucked balls.

[Kemarit]

Bitcoin has already surpassed 8k resistance point again and it looks like we will see another reversal trend from the bearish to the bullish.
I just try to put 8.9k as the next resistance point to the bullish trend of bitcoin.

Good news is needed to make bitcoin can break 9k rate in the future.

bitcoin has not been bearish ever since price went above $4000 although may users insist on staying bearish themselves and go against the tide. other than that we are only seeing a very simply correction here which has nothing to do with being bearish.
as for $9k, i don't think we need any kind of news at all. we are headed that way and it will be broken with time.

I think it was around February when we see that we are slowly getting into the bullish zone already. But still most of the crypto 'experts' says that we are still in the bearish cycle and then that April surge was the final push to get out of it and now we are hovering above $8+++ now. Although I thought that we will see some pullback, but I was proving wrong again. As for that 5 digits, let the market run on it's normal course, if there is a positive news then good. However, it's inevitable sooner or later the market will breach the $9000-$10000, even without any news at all.

[pooya87]

Bitcoin has already surpassed 8k resistance point again and it looks like we will see another reversal trend from the bearish to the bullish.
I just try to put 8.9k as the next resistance point to the bullish trend of bitcoin.

Good news is needed to make bitcoin can break 9k rate in the future.

bitcoin has not been bearish ever since price went above $4000 although may users insist on staying bearish themselves and go against the tide. other than that we are only seeing a very simply correction here which has nothing to do with being bearish.
as for $9k, i don't think we need any kind of news at all. we are headed that way and it will be broken with time.

I think it was around February when we see that we are slowly getting into the bullish zone already. But still most of the crypto 'experts' says that we are still in the bearish cycle and then that April surge was the final push to get out of it and now we are hovering above $8+++ now. Although I thought that we will see some pullback, but I was proving wrong again. As for that 5 digits, let the market run on it's normal course, if there is a positive news then good. However, it's inevitable sooner or later the market will breach the $9000-$10000, even without any news at all.

we had a rather nice pull back though. as i said in the other topic (expecting drop to $6000) a correction is a must whenever we see a big rise like this but a correction is very different from a crash so we should really try to figure the differences out. for instance a drop down to $7500 was the correction and that kept the market and the rise healthy anything lower than that would have been unhealthy in the other direction! the same way we consider a big rise a bubble, we should also consider a big drop another type of bubble and both are equally unhealthy and unstable.

my point is that you weren't wrong about the pull back, you were only wrong about the size of it.

[exstasie]

Shorts are mooning along with the price. On Bitfinex, they've risen 30% from the low a week ago. This is a good sign for continued upward pressure.

Price is moving very freely at the moment. All those big red candles from late May to early June? Above this $8,700-$8,800 zone, those candles represent trapped sellers. More gas in the tank. Bullish.

[BitHodler]

Shorts are mooning along with the price. On Bitfinex, they've risen 30% from the low a week ago. This is a good sign for continued upward pressure.

Do you think the current setup might trigger a massive short squeeze? We haven't had one of these in a long time--all we have had so far were mini short squeezes due to the relatively neutral short/long ratio.

I still think that the psychological $10k mark will result in a brutal selloff the moment we're about to test it for the first time. Going from 4 figure to 5 figure prices is such an important difference psychologically that I expect fierce resistance.

The only thing I find a bit doubtful is that the volumes are heavily lagging behind despite the rush up we have gone through in the last couple of days. People are either waiting for a big move or it's largely thin bot activity we see happen.

[figmentofmyass]

I still think that the psychological $10k mark will result in a brutal selloff the moment we're about to test it for the first time. Going from 4 figure to 5 figure prices is such an important difference psychologically that I expect fierce resistance.

that seems intuitive, but it's also probably what everyone is expecting. just like the $6k "resistance" everyone expected, it might go like a hot knife through warm butter.

part of me thinks that bears blew their wad on the $8000s. this bear trap lasted for weeks, and we're only $800 from $10k. i think there's too much pent up buying pressure to reverse there now. higher!