Bitcoin Bulls Near Exhaustion, Investors Should Be Wary

[cryptosignal.rocks]

Smart buyers and traders do not stay away from the market or afraid, any smart trader who has studied the market should be fully conversant with corrections, and rather that getting scarred and shying away, they see it as an obligation, or would I say opportunity to add more of the coins to the wallet, in order to take more profit.

So traders should even be the one that this type of fluctuation will favor more, because they always get the opportunity to buy low, and then wait for the price to surge again to sell high which is how majority of people like me has been making our money on special occasions like this.

My trade setups for today

BTC/USD
14 Day RSI at 80% $11,321
14 Day RSI at 70% $9,190
Pivot Point 2nd Resistance $8,436
Pivot Point 1st Resistance $8,232
Biggest resistance 7 days $8,125
Take profit $8,081
Pivot Point 1st Support $7,677
Buy more $7,537
14 Day RSI at 50% $7,491
Biggest support 7 days $7,454
Pivot Point 2nd Support $7,327

Buy signal: When the first buy signal comes, buy only if you have sold earlier with a higher price and can make a profit. Otherwise let the price go down, wait until the "Change one hour" turns to positive, and the price has hit a buy wall.
Sell signal: When the first sell signal comes, sell only if you have bought earlier with a lower price and can make a profit. Otherwise let the price go up, wait until the "Change one hour" turns to negative, and the price has hit a sell wall.

[Oceat]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

some people continue to talk about halving and its effect on the increase in the price of bitcoin, but I don't see it happening now. right now I see a very significant change in Litecoin that is increasing very well, and some people associate it with halving

Halving will happen in 2020 and people should not expect too much in the market like it won't pull back because this is how an open market works. Things won't stay on top always, there should always some time that they have to go back down again.

Just think about it like this, if the bullish trend stays for more than a week then bearish will stay more than a week too. Don't just expect continuous growth in a strong volatility market.

[btc_angela]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

some people continue to talk about halving and its effect on the increase in the price of bitcoin, but I don't see it happening now. right now I see a very significant change in Litecoin that is increasing very well, and some people associate it with halving

Halving will happen in 2020 and people should not expect too much in the market like it won't pull back because this is how an open market works. Things won't stay on top always, there should always some time that they have to go back down again.

Just think about it like this, if the bullish trend stays for more than a week then bearish will stay more than a week too. Don't just expect continuous growth in a strong volatility market.

And just to add, halving will not make the price goes on a dramatic spike overnight. It take some time, probably another 4-6 months before we can finally say that it is really the catalyst. So it will be a continue battle, because there is bulls/bears fighting each other in this kind of market.

[FanEagle]

It is a difficult thing to ask from buyers to keep buying just to go up however it is also quite possible that maybe instead sellers will start to sell less?

Nobody considers that as an option but that is a way bitcoin could go up as well. I know the norm is people buying and that is why sellers are either actually selling or removing their orders but maybe this time buyers will not be buying that much but sellers will realize that there is a chance they could profit a lot from it and stop selling at the resistance levels and traders will take advantage of that?

You do not need to buy all orders until 20 thousand dollars to make bitcoin worth 20 thousand dollars, you just need ot make sure nobody sells under 20 thousand dollars and you have bitcoin at 20k without buying a single satoshi.

[jrrsparkles]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

some people continue to talk about halving and its effect on the increase in the price of bitcoin, but I don't see it happening now. right now I see a very significant change in Litecoin that is increasing very well, and some people associate it with halving

Halving will happen in 2020 and people should not expect too much in the market like it won't pull back because this is how an open market works. Things won't stay on top always, there should always some time that they have to go back down again.

Just think about it like this, if the bullish trend stays for more than a week then bearish will stay more than a week too. Don't just expect continuous growth in a strong volatility market.

And just to add, halving will not make the price goes on a dramatic spike overnight. It take some time, probably another 4-6 months before we can finally say that it is really the catalyst. So it will be a continue battle, because there is bulls/bears fighting each other in this kind of market.

Agreed,halving doesn't make the prices goes up instantly it will take time lke atleast one year to gt effeced on the market.But we did faced the spike a lot earlier so we are having a small bull run upfrong that halving as well so there might be a correction will occur when we are nearing to the halvening stage.

[damberg]

More than one week after your post, there are again signs of weakness in bull pressure. Upwards momentum is slowing, volumes get thiner on significant price levels - it seems than we will be crawling around $8,000 for some time.

[Barbut]

More than one week after your post, there are again signs of weakness in bull pressure. Upwards momentum is slowing, volumes get thiner on significant price levels - it seems than we will be crawling around $8,000 for some time.

And what is problem with that? Like price didnt make a nice progress until now, but for some people there is no word "enough". Always more, always higher, always some pressures, some stupid weakness..
I think that most of the people dont even know what this words means. This headline bulls near exhaustion is very stupid thing to say, what that actually means? How can they get exhausted in the first place? And for the investors, who invested 6 months ago can sleep nice now with profit, who was thinking to much and wait dip made a huge mistake, learn from that.

[guoyu78]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

some people continue to talk about halving and its effect on the increase in the price of bitcoin, but I don't see it happening now. right now I see a very significant change in Litecoin that is increasing very well, and some people associate it with halving

Halving will happen in 2020 and people should not expect too much in the market like it won't pull back because this is how an open market works. Things won't stay on top always, there should always some time that they have to go back down again.

Just think about it like this, if the bullish trend stays for more than a week then bearish will stay more than a week too. Don't just expect continuous growth in a strong volatility market.

And just to add, halving will not make the price goes on a dramatic spike overnight. It take some time, probably another 4-6 months before we can finally say that it is really the catalyst. So it will be a continue battle, because there is bulls/bears fighting each other in this kind of market.

Until now, so many Bitcoin analyst and holder still cannot specifically say what makes the price of Bitcoin surges high abnormally, we understand the normal proper increase we do see, because once we have demand of Bitcoin, the effect of it should normally be an increase in the value, but when there is a drastic increase, it causes confusion and many people tries to attribute it to lots of things based on their own personal opinion and believes.

I have been hearing what halving is expected to contribute to the surge of Bitcoin, but still cannot understand how it will affect it exactly, we just have to wait and see.

[vixcious]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

Such analyzes have become false with the crypto market. The assumptions given are quite reasonable but in fact go against that analysis. The price of BTC has increased to nearly $ 8200 and this proves that it is anything that can happen. The power of bull run is great and the candles will not create the story.

[bitgolden]

More than one week after your post, there are again signs of weakness in bull pressure. Upwards momentum is slowing, volumes get thiner on significant price levels - it seems than we will be crawling around $8,000 for some time.

This is normal in the market, we cannot always get constant increase and even if Bitcoin settles down on this price for the rest of the year, it is still a very big progress and a great achievement for the year compared to where we are coming from after the last bear market.

We still have very active investors that are keeping the value of Bitcoin in uptrend and as against investors being exhausted, they are not, what we just lack a little bit are new investor or new crypto adopter which we don’t expect to grow suddenly. Rome was not built in a day, and adopter are coming in with time, the number will keep increasing and has they gradually increases, the price of Bitcoin will gradually increase too.

[CryptoPowerL]

Today I read an article that at the moment the investor's greed index is at its peak. This index is not used as a technical analysis tool, but it is determined by several factors. It is possible that the market will soon become bearish, I do not exclude this. But I want to believe that this will not happen

[Slow death]

Your thoughts guys?

June 03, 2019

Price: $8500

Today ( June 17, 2019 )

Price: $9191

as you can see, the price has increased, so I do not take these analyzes and price forecasts seriously, because most of the time they are wrong

[el kaka22]

I think people are looking at the wrong direction right now, buyers are getting tired and sellers are always there because there are miners and panic sellers and traders and many others who are selling. However you are looking at "how we can go up" right now which is the wrong question to ask at this moment, the real question is "why should we go down" and that is the reason why it will be going up soon not down.

Look at the price and look at the hype around bitcoin once again after one and a half years, we haven't had this type of hype for a long time since the last all time high and there is absolutely no reason to go back down. That is why I think the worst case scenario we will be staying at this price whereas we will be going up in the best case scenario, there is no way bitcoin will fall after all of this.

[yvesp110]

I think people are looking at the wrong direction right now, buyers are getting tired and sellers are always there because there are miners and panic sellers and traders and many others who are selling. However you are looking at "how we can go up" right now which is the wrong question to ask at this moment, the real question is "why should we go down" and that is the reason why it will be going up soon not down.

Look at the price and look at the hype around bitcoin once again after one and a half years, we haven't had this type of hype for a long time since the last all time high and there is absolutely no reason to go back down. That is why I think the worst case scenario we will be staying at this price whereas we will be going up in the best case scenario, there is no way bitcoin will fall after all of this.

You are right about the market ups and downs. There is no doubt in the fact that it does makes you feel down as well. But for an optimist, there could be signs of profits when a pessimist would just sell low. We still have reasons to invest in crypto and particularly in Bitcoin because we are going to have the Bitcoin halving in months to come and in addition to that, there could be sudden surge in the value as well.

[Thanasis]

No one knows when it will end or when it will begin,its all in the game and just react to what we are getting.The bullish trend keep continues and seems like will be able to break $10K at the next swing range.Anyone feels that $10,000 will be broken in near future? Or the strong resistance will keep the price at this phase.

[Jating]

No one knows when it will end or when it will begin,its all in the game and just react to what we are getting.The bullish trend keep continues and seems like will be able to break $10K at the next swing range.Anyone feels that $10,000 will be broken in near future? Or the strong resistance will keep the price at this phase.

Hard to say, right now I'm seeing like -2% in bitcoin price.

It means that there are sellers @$9000 range, might be a mental barrier for them. So it might take some time before we can finally break the $10k barriers. Of course, we wanted to see it get broken this month, but I'm more willing to wait and be patience.

We all know that the price shifts in momentum though, so I'm still positive that in the next coming months, that 5 digit price would be breach.

[Ridwan Fauzi]

Today I read an article that at the moment the investor's greed index is at its peak. This index is not used as a technical analysis tool, but it is determined by several factors. It is possible that the market will soon become bearish, I do not exclude this. But I want to believe that this will not happen

Don't use an article is a benchmark for you to predict the market movement. You have to use many articles if you do that, I mean if there is some articles that stated the same thing then you have to believe to these information. Against the market movement it's indeed everything will be happened there is no impossible but once again it depend on the information itself. Each investor will do the same thing if they read the several article who stated the same thing. I'll ignore the bearish market will come again at this time, seems like the market cryptocurrency has health again.

[rez303]

Nothing is certain in the crypto market. Better yet, if we see a sudden increase or decrease in the market, we should run ahead to avoid the whale trap. I have not had any profits on BTC or ETH in the past 2 months because I feel this growth will be risky.
We should also set ourselves a margin of safety to avoid having losses of more than 50% - 60%.

[ufaiz50]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

Bubbles bubbles bubbles, price vs kijun analysis using oversold/overbought conditions. Regardless of crypto fluctuations, we must be careful at all times because trend analysis and candles are not completely 100% correct in very fluctuating cryptocurrency and sensitive to information and news.

[bettercrypto]

It's almost a year before the next halving occur. This is what others are really waiting for. Take this correction as an ooportunity to accumulate some decent bitcoin at cheaper price. If you will base on the historic price it's normal for some correction after a bull-market. History repeats it self.

Because of bitcoin halving, the price of bitcoin gradually moving up. A lot of speculation that are saying bitcoin will fall and becomes exhausted. However, there is a great support level at 7k dollars. Definitely, it would become hard for the price to go back specially, if there is no bad news for bitcoin.