Bitcoin Bearish short term but Bullish long term

[Whaleagent]

https://whaleagent.club/bitcoin-4-hour-equilibrium-broke-bearish/



Bitcoin seems to be bearish in the short term but bulls still have the advantage in the long term with uptrends on the daily, weekly and monthly charts.

[exstasie]

Bitcoin seems to be bearish in the short term but bulls still have the advantage in the long term with uptrends on the daily, weekly and monthly charts.

It does appear that way. That was a pretty decisive dump below the last couple local lows. Basically, bulls need to retake $12,000 in order to regain control. Otherwise gravity should do its job and start squeezing all the top buyers from the past week.

I'm still looking at mid-September for a resumption of the monthly bull trend. Until then, the $8K-$11K range is still on the table.

[Herbert2020]

i don't think the terminology used here is correct at all.
a bearish trend happens in a much longer outlook that the one used here. you are too zoomed in and we can't call it bearish or bullish based on this short period. not to mention that you are looking only at the peak (hence the zoom) which makes the follow up somewhat of a retracement rather than being a bearish move.

if TA was like this, then anybody could choose any random peak and valley to draw lines that show any direction at any time!
but the reality is that you first need to choose the points correctly so that the lines you draw can be useful for making a speculation.

[buwaytress]

Bitcoin seems to be bearish in the short term but bulls still have the advantage in the long term with uptrends on the daily, weekly and monthly charts.

It does appear that way. That was a pretty decisive dump below the last couple local lows. Basically, bulls need to retake $12,000 in order to regain control. Otherwise gravity should do its job and start squeezing all the top buyers from the past week.

I'm still looking at mid-September for a resumption of the monthly bull trend. Until then, the $8K-$11K range is still on the table.

I would be surprised actually if anyone were surprised by the most recent dump. It's been the flavour of the month if not 2 months past, profit taking at those highs and low volume pumps to push past 12k artificially.

Definitely my money is on a few more sub 10ks if not 8k or lower like you say, and way past December. That's not juat me being pessimist, though, contrary I think that it'll be better for the long run.

[carter34]

From the chat, I think the bear has really gone away for the bull to resume technically. The last candle formed there is a good sign for a buy with combination of other TA.

[leowonderful]

I've got some bids set up at the $10ks and staggered lower as well in case the support under us at around $11k falls as well. We've had several wicks into this area so far but no closes under it on the 1H from what I can see, we're likely going under $11k if this fails. Could certainly bounce right back up under $12k and perhaps break through this time as well.

[YuginKadoya]

I would really like it that way than to see some big increase that will surely break down immediately just like what happened last time but I guess if the price would make a bearish movement for a couple of weeks perhaps it will accumulate a great momentum moving bullishly in the future, I guess we are seeing resistance from $10,000 USD back then $11,000 USD and now the price is trying to make it to $11,500 USD, This is a slow pace moving up and I am totally OK with this kind of movement because I really like a long term investment and trading and I am not used in short term one.

[BrewMaster]

you are basically predicting which way the sideways is going to go next and call it bearish. whenever we are in a similar situation like these days it becomes harder and harder to predict when the breakout happens because we get closer to it every day. lets not forget that we have been in this range for nearly 2 months now and during that time the range is getting tighter with higher lows. in other words we are just too close to that breakout which makes these days more bullish than bearish.

[The Sceptical Chymist]

i don't think the terminology used here is correct at all.

It's not--bitcoin right now is above $11k, and that's not bearish at all. 

I'm also not sure you can really tell if something is "bullish" in the long-term.  This all sounds like financial news media gobbledygook, doublespeak, and ultimately utterly meaningless.  OP probably has read too many news reports about the stock market and is trying to crowbar the terminology into the current bitcoin market.  Truth is that nobody knows what's going to happen with bitcoin even in the short-term.  Demand could easily dry up, even though I don't think it's going to. 

The last candle formed there is a good sign for a buy with combination of other TA.

I'll light a candle for your TA analysis, eh? 

[7788bitcoin]

I would be surprised actually if anyone were surprised by the most recent dump. It's been the flavour of the month if not 2 months past, profit taking at those highs and low volume pumps to push past 12k artificially.
Definitely my money is on a few more sub 10ks if not 8k or lower like you say, and way past December. That's not juat me being pessimist, though, contrary I think that it'll be better for the long run.

People are always surprised when the price of bitcoin goes down and it is being going on for a long time, even i consider it as an opportunity if the price goes down so that i could enter the market before the big rally, all of my expectations are considering that the price would rally and break another all time high valuation after halving like we saw in the past and hopefully we will see the same trend this time too.
I would't be surprised if the market is a bit bearish for the entire month.

[omonuyak]

It seem bitcoin need to go down a bit before next bull run. The buying pressure does diminish whenever bitcoin cross $12,000 for more than a week now. A fall to $10800 resistant turned support level might trigger that in the next few days. The volume and momentum indicators are showing indecision! the bear will get weaker when Bitcoin get below $11,000.

[Capt00]

It seem bitcoin need to go down a bit before next bull run. The buying pressure does diminish whenever bitcoin cross $12,000 for more than a week now. A fall to $10800 resistant turned support level might trigger that in the next few days. The volume and momentum indicators are showing indecision! the bear will get weaker when Bitcoin get below $11,000.

We can't expect that it will turn back into $4k before it finally is in the bull run. TA's is not really accurate and even we look into the chart last year, we can see its difference. We can't think that nor to have a high percentage of getting it high back then as it did last 2017. The current price looks good and feels that the market still healthy, it is enough to be comfortable with the market performance even not showing bull run this year.

[livingfree]

A fall to $10800 resistant turned support level might trigger that in the next few days. The volume and momentum indicators are showing indecision! the bear will get weaker when Bitcoin get below $11,000.

And now it just turned under $11,000 again. Back to $10,985.



Time to start buying again, accumulate more guys we have plenty of time left. I think this will drop more within the next few hours.

[bitgolden]

That is what I believe also, this correction might have been for so long, and it feels like everyone is confused about the next target, even if the next target ends up going downward, all I know is that bitcoin has a very high chance right now of starting its bull run at any time because we are already in uptrend and I don’t think that there is anything that will really make the market to crash right now below imagination.

This current bears are just the ones mainly doing shorts which is really dragging us back, but I know that sooner or later, the bulls will fully take over the market and the bears will have very little chance of taking over the market again until bitcoin reaches another new ATH, now is when people should deem fit to just be gathering rather than selling.

[leowonderful]

Last few hours have been pretty continuous dumping, Bitmex funding rate is currently at 0.0295% and predicted to go to 0.044% interestingly even though price has been going down- probably from people longing into this. Dump has temporarily stopped near the $10.9K level, though it does seem like there's still some room to go down still. RSI's hit the teens on the hourly and sitting right above 30 on the 4H, MACD seems like it'll flip red on the daily soon. Monitoring this closely, but still keeping my bids up.

[BitHodler]

This current bears are just the ones mainly doing shorts which is really dragging us back, but I know that sooner or later, the bulls will fully take over the market and the bears will have very little chance of taking over the market again until bitcoin reaches another new ATH, now is when people should deem fit to just be gathering rather than selling.

You don't have to be a bear to short an asset. Most of the shorts are from unbiased traders just following what the charts present them. Today they can be short, but tomorrow they might shift to a long position.

The more rational traders don't focus on much other than the very short term, and the short term has been in favor of a more bearish outlook, while the mid to long term is still bullish overall.

I do however agree that accumulation is a smart choice. If you only allocate a small percentage of your investment account to each entry point, you should be able to buy the market down for a long time would it keep sinking.

[1Referee]

I would't be surprised if the market is a bit bearish for the entire month.

Bearish perhaps on the very low time frames, but not if you zoom out and look at the bigger picture.

We're forming a very large bullish pennant as we speak, and if it ends up breaking in the direction of the current trend, which is up, we'll blast through this year's high and potentially stress the all time high. If we add that the block halving is inching closer and closer, it adds to the probability of this pennant to break out to the up side.

But you have to look at the bearish side too, and this is admittedly very ugly in case of a break out to the down side. If this plays out I personally aim at a bottom somewhere between $7000-$8000 but don't rule out a sub $7000 wick. Great opportunity for those who look to buy lower though.

[Herbert2020]

A fall to $10800 resistant turned support level might trigger that in the next few days. The volume and momentum indicators are showing indecision! the bear will get weaker when Bitcoin get below $11,000.

And now it just turned under $11,000 again. Back to $10,985.

Time to start buying again, accumulate more guys we have plenty of time left. I think this will drop more within the next few hours.

that still doesn't make the movements bearish though. and as you said it yourself it is time for accumulation in other words if you consider this time to be an accumulation phase (which i also agree with by the way) then you are saying that we are in a bull market.
and so far that has been the case with all the similar patterns on the charts. we see these sideways moves for a long time which indicate accumulation, there are some concerning drops during that time which leads some people into believing it is bearish (bear trappped^TM) and then the big rise occurs surprising everyone who weren't planning ahead during the accumulation.

[The Cryptovator]

Its been long time that bitcoin playing around $9K to $13K. We haven't face huge dump during that period and most likely bull mode is more stronger than bear. Because on last small bear we did not seen bitcoin below $9K but we seen above $12K on last small bull run. That's why I can say bull is stronger. Still I believe bitcoin isn't  bear mode currently.

[guoyu78]

Its been long time that bitcoin playing around $9K to $13K. We haven't face huge dump during that period and most likely bull mode is more stronger than bear. Because on last small bear we did not seen bitcoin below $9K but we seen above $12K on last small bull run. That's why I can say bull is stronger. Still I believe bitcoin isn't  bear mode currently.

The bulls are taking it slow and steady and I think the way they are playing it is really a very healthy one for investors, there has not been major dumping because the movement has been gradually and not that sudden continuous increase that usually make people doubt the movement, at least with this one, the market is being pumped a little, stopped and people get use to that current pump.

The weaker ones becomes eliminated before other bulls proceed, as we pause sometimes and some withdraws their investment, it reduces the rate at which we could have major dump in future and I think this is what has really curtailed the pump for a while now, before any major dumping could occur now, that would be after the next bull run.