So what do we think of thing continuous gradual rise of Bitcoin recently?

[thecodebear]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

But here we find ourselves with BTC holding $3700 and up for like 6+ weeks now I think and gradually increasing week after week with it now right at the top to the bottom range at just under $4200 and still continuing to steadily push on up from $4000 to $4100 to right now high $4100s.

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

[jossiel]

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

No one has crystal balls to tell you on what's exactly going to happen. No one knows if this is a trap and we're still bound to go back to the bottom and the price as per CMC, it's near to $4.2k.

If you are too worried about the conditions now, set yourself for some profits if you are not too confident with what you see right now. What happens today is in favor of most of the long term holders and those who bought at the bottom of around $3,100 - $3,200.

[buwaytress]

Same here. I did think that this week was going to be the first in the past few that we wouldn't release $4k so easily, but then we've just gone ahead and chugged past 4.4k so the new lows I'd been expecting for a while does seem quite difficult to attain for the bears.

The volumes are still unimpressive though. Add to that the all-time highs for utxos to provide a case for growing accumulation and we're seeing a reluctance to sell and patient buying rather than all-out exuberance. It's almost at the point where those who bought at bottom will be tempted to cashout an easy 50%, though.

[thecodebear]

Ha and just shortly after I ask this question Bitcoin finally breaks through and is at $4700 right now on Coinbase, ~$4600 on CMC!

[N0sferatu]

Ha and just shortly after I ask this question Bitcoin finally breaks through and is at $4700 right now on Coinbase, ~$4600 on CMC!

Even > 4600$ on Bitmex!

Really a nice spike today. Let's hope this will last and form a new support zone around 4500$. Since volume isn't that high, i am pretty confident BTC can achieve this.

[thecodebear]

this is either an epic bull trap or its the start of the next bull run! My guess is its the start of the bull run, even though I figured it wouldn't start for several more months. But we'll see! Even if it is the start of the bull run I'm sure it'll settle back down and yeah maybe come back to mid-4000s and slowly build up. But hey its crypto, anything could happen! 

[LeGaulois]

What's going on with Bitcoin this morning? Yesterday it was $4150 and this morning when I woke up with my coffee I see that the price is at $4,700. A few minutes later I refresh the page and it is almost $4,900. You want me to die or what?
Seriously speaking, what happened during the night?

[thecodebear]

What's going with Bitcoin this morning? Yesterday it was $4150 and this morning when I woke up with my coffee I see that the price is at $4,700. A few minutes later I refresh the page and it is almost $4,900. You want me to die or what?
Seriously speaking, what happened during the night?

What happened? Bull run just started. Thats what happened.

It just broke through resistance. Could be like what happened in October 2015 - broke through the resistance at top of the bottoming range and had a huge spike up signaling the start of the next long bull run.

It would going right up against the top of the bottom range its been in for 4.5 months the past few days and especially today. It finally broke through and went crazy.

[maydna]

The pumps are coming, and now, the price already reaches $5100

But unfortunately, the price was now getting down a bit at $4831 according to on Bitfinex, but I think the price could increase higher again. Yes, that happened during the night, and I sell some of my bits to take my profit hehe

The green candle still appears right now and continues and I, think there is an intense battle on the market as the price moving so fast now. Let see what will happen later, and I hope that it could increase more than $5000 again.

[hugeblack]

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

I expect this bump to continue up to reach $ 5000 in a few days but with a rapid collapse to below $ 4000 in case of bad news or negative factors.
This may be the first time in a long period that we have seen gains of 11% so we should not be too optimistic. Not much has changed to support this optimism.
Many platforms sell at $ 4500 so we are not expected to see a collapse for the day at least.

[figmentofmyass]

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

just compare the charts. they look totally different. we're only a short way into forming the bottom this time.

in october 2015, we broke out above resistances that formed 10 months/a year prior. this time, we're nowhere near that. we're still firmly below the $6k resistance we crashed from 4 months ago. yes we've made some baby steps like a weekly higher high, but we also did the same thing in q4 2014 before capitulating to new lows the following january.

people are getting bullish very quickly.....yet another sign the bottom isn't in. 2015 was nothing like that---everyone was so pessimistic.

[gabmen]

Well prior to pump a while ago, i'd say bitcoin pretty stable the past few weeks. And i think it's a good sign for things to come. I just don't expect a sustained pump though and corrections may be on their way but i'm feeling good about the movement of btc the past week.

[Pursuer]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

the accumulation phases can never last a whole year and if they do that means the market is dead which bitcoin is far from it! it is actually growing bigger so it has to have short stable phases like that. and this started in 2018 when price entered the $3k range for the first time.
as it is evident by today's rise, we can see how unstable the market gets the more it is kept in one price level with force and manipulation. we end up seeing a big green candle shooting up to higher prices in an hour!

[arpon11]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

But here we find ourselves with BTC holding $3700 and up for like 6+ weeks now I think and gradually increasing week after week with it now right at the top to the bottom range at just under $4200 and still continuing to steadily push on up from $4000 to $4100 to right now high $4100s.

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

For now bitcoin is making good progress after some weeks of corrections in pricing.  It is truth that everything is possible and bitcoin can still fall to 3000 or grow back to $20,000 but we are hopeful that it is going to be more of the bullish trend than the bearish trend.  Traders are making good money from this up and down of the pricing and it is important that we also learned how to trade.  Some investors only focusing on one directions of prices.  I think the patience one are going to make good profits in some months or years to come.

[beerlover]

I will strongly advise that you start accumulating any coin you wish to accumulate now because it is still not too late, but if you are still waiting for any bottom price of bitcoin, I am sorry to break that bad news to you that bitcoin has already bottomed long ago and out, we may never witness $3k in bitcoin again for the rest of its life no matter the dump that may occur because whales are gradually losing their holds on Bitcoin, there is actually so many strong indications out there technically that this price we see will be the beginning of Bitcoin and many other crypto currency on their bull run.

[bitbunnny]

I have to say I'm not thrilled. This is a fast rise in short period of time. Not big rise, but still. And I prefere more slower growth over some period of time. Sudden pumps usually don't end up very well but let's wait and see how this will develope. Are we entered long term recovery process or just short term pump. But it's good time for day traders to accumulate some profit.

[exstasie]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

the accumulation phases can never last a whole year and if they do that means the market is dead which bitcoin is far from it!

Why do you say that? I don't think there's any way to gauge how long it should take, especially with an asset like Bitcoin where demand is mostly based on speculation about the future. There are no hard and fast rules, and we only have one past model to look at (2014) when it comes to long term bear markets.

As each year goes by, the market seems like it moves slower and slower, so I wouldn't be surprised to see a year long accumulation phase.

[Adriano2010]

Even if will dump again i don't think will go so low to 3000$, but i think will not drop and this month will continue grow and we can have a bull run this year if keeps growing and more people will buy.

[rizkyhiw]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

the accumulation phases can never last a whole year and if they do that means the market is dead which bitcoin is far from it!

Why do you say that? I don't think there's any way to gauge how long it should take, especially with an asset like Bitcoin where demand is mostly based on speculation about the future. There are no hard and fast rules, and we only have one past model to look at (2014) when it comes to long term bear markets.

As each year goes by, the market seems like it moves slower and slower, so I wouldn't be surprised to see a year long accumulation phase.

Don't worry, this can be called a stronger underline, indeed it will last and not show improvement anymore, but will continue after the market position is really very strong, I don't see this as a fast bull market but these are good fluctuations gradually without have to rush to pump further, don't be too scared because this might occur between increases and decreases, the name of the investment must be prepared with a decline but must be prepared to win after the market bulls really happen.

[adzino]

I have been fully expecting the bottom to last until at least late Summer, if not into the Fall.

But here we find ourselves with BTC holding $3700 and up for like 6+ weeks now I think and gradually increasing week after week with it now right at the top to the bottom range at just under $4200 and still continuing to steadily push on up from $4000 to $4100 to right now high $4100s.

Will it dump back to $3000s or are we gonna see it just keep gradually building steam or a big squeeze and watch it shoot way up, and if it does shoot up will that signal the start of the bull market like Oct 2015 or is it a trap and we've still got months of bottom to watch?

I was actually loving the slow and gradual rise of the price of bitcoin. The price was actually doing really good by being stable for few days and then rising out slowly. Was actually also preferable for traders to make some quick profit from the small volatile zones. The market seemed to be quite healthy. But, the current rise seems quite suspicious. All those sudden rise might cause a chaos soon. FOMO might also be playing a huge role on this weird price rise. Lets hope everything goes back to normal .