BTC Sentiment Poll for Feb

[StreakW]

I think the market is bullish again. Since the second week of February, market movements have shown that bitcoin is starting to climb up to where the bitcoin price in the past week has managed to break through the resistance level in the range of $44k. if buying action continues to increase, then it is not impossible that bitcoin will push a significant price increase to print new ATH.

$48k might be a good gauge to see if we are bullish or not. I'm still not sold on the movement, $48k-$50k for me because we may be safe for now from the bears. Yes, it's good to see that we have broken $40k barrier and went as high as $44k-$45, but the price seems to be not building momentum on this price range. Of course who doesn't want a new all time high, but it's better to take it slowly an get to $50k first.

I think the current increase in bitcoin prices shows that bitcoin is back in a bullish trend. going forward the price of bitcoin continues to strengthen slowly. Moreover, the current increase in bitcoin prices is driven by some positive sentiments that have occurred in the last few weeks. One of the positive news is that India has decided to adopt crypto and consider it a legal asset in the country. Therefore, I believe that this year we will see more and more new ATH.

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[tokeweed]

^  Dunno...  I mean I was hopeful but as the month passed, it’s more looking like it’s done.  BTC did a strong bounce from 33k and hit local top at 44.5k - 45k twice then down again.  There’s a small bounce right now but that also looks like it’s losing momentum.  There’s just not enough new money coming in anymore.  It’s obv not the same conditions we had as last year.  But we’ll see..  I could be wrong.

Locking the thread in a couple of days.

[rodskee]

I stopped expecting anything when market moves like this so I voted for "Dont Know" because this is the safest answer i guess.

In January i already stop pointing my mind into something high nor even in something good because i accept that fact that what 2021 brings is more than what i asked for years so this year after the Hype? will surely brings falling market.

I'm hoping that Bitcoin will stabilize in 33-42k range and will stay within it for the entirety of 2022 and will start slowly rising in the late 2023, preparing for the 2024 halvening. This would make the most sense in the context of bull-bear cycles tied to halvenings.

So, my answer is "dead cat bounce", but I have hopes that $30k will be defended in this bear market.

You shouldn't ask just for this month because with this kind of situation people are very difficult to explain.

It is not explanation is what needed here but our stand to what we believe will happen this month .

[Kemarit]

^  Dunno...  I mean I was hopeful but as the month passed, it’s more looking like it’s done.  BTC did a strong bounce from 33k and hit local top at 44.5k - 45k twice then down again.  There’s a small bounce right now but that also looks like it’s losing momentum.  There’s just not enough new money coming in anymore.  It’s obv not the same conditions we had as last year.  But we’ll see..  I could be wrong.

Locking the thread in a couple of days.

Yeah, and it shows that February is not really a strong month for Bitcoin... again. We have a good bounce to $45,000 attempted to break that barrier twice but to no avail.

And as we end this month, we might be in the same position as we enter it, going $35,000 now. Seems another set of sellers are on the move. Not sure what the reason again, we have top to $38k yesterday but now it's an avalanche of selling again. Might be taking profits and then there are panic sellers.

[tokeweed]

^  I think we got our answer a few hours ago.  Lots or traders got spooked by Russia’s military movement near the borders of Ukraine then the next day Russia went for it causing the market to sell down some more.  Sucks...  But it seems to look fine atm.  There were short sellers that seemed to cover their positions minutes after US the session started.  I guess they thought US stocks were going to nuke after gapping down at open.  But no, it’s clawing its way back up.

But we’re not out of the woods yet.  Level to watch is around 32.9k.  If that breaks, watch July 2021 lows.  Just IMHO.