Is bitcoin bearish or bullish

[BrewMaster]

it is beginning to enter the bullish mode.

the only reason why it is taking some time (about 2 months) is because the market just finished the recovery phase by getting out of an artificially low price of $3000 that was only achieved through manipulation of the market.

as the trend changes slowly, the expectations also change and the weak hands are flushed out of the market so the rise can begin by getting rid of those who sell and slow it down.

[LUCKMCFLY]

I think that Bullish trend is the same, in my personal analysis following Wyckoff's theory, I conclude that we are starting the bullish trend stage, of course we have to wait, corrections can be made, but it is starting and the process is framed.

And if we take into account some events such as economic problems in some nations such as Venezuela and Argentina, especially Argentina that can freely trade with Bitcoin, this attracts new market participants, which increases demand and as demand increases, the purchases and the price goes up and if we add the BAKKT, there are many reasons for the analysis to be argued.

[ophyrim]

In the last 24 hours bitcoin have gain some amount of increase in it price, as at this time bitcoin is sitting at $10,349 and slowly gaining momentum to reach $11,000. With this slow and staggering price movement do you think bitcoin will reach $100,000 in the next few years as predicted by some analysts.
What is you take on this and also follow the link below to see the views of other investors and they stand.
https://zycrypto.com/bitcoin-is-medium-term-bearish-and-wont-see-100000-in-the-next-few-years-analyst/

What are you talking about. 11k is a short term (few days) target and  100k is a long term target (few years). There is no relation between them neither for timing nor for the price.

[BitHodler]

it is beginning to enter the bullish mode.

the only reason why it is taking some time (about 2 months) is because the market just finished the recovery phase by getting out of an artificially low price of $3000 that was only achieved through manipulation of the market.

If you look at the bigger picture, the bull mode has already started. It's perfectly normal that we have a phase of consolidation after a mad increase all the way to the $14k mark, that's not healthy growth. It resembles greed.

People here think that a two month consolidation phase is long, but that's an absolute joke when you compare consolidation in traditional markets. People here are too greedy and think it's normal to go up by 400%. It's not.

There is also a bearish case where the bull run what we have seen is a bull run within a longer term bear market. Perfectly possible but less likely. I think that we'll take out the $20k high next year after healthy weak hand capitulation selloff.

[SirLancelot]

These are not corrections. Corrections happen when you go up really fast and sometimes drop and than continue to go up. We have been around the same prices for too long to call these corrections anymore. We are neither in a bull nor a bear run right now, we are in a stagnant market where price is changing between 9-11k for the past couple months and that is not bad because at least we have established these prices to ourselves, we are not longer afraid of the 3-4k prices because we know we are not dropping down that much anytime soon, maybe even ever again.

Hence, I highly doubt that these moves are bull moves that happen to have corrections between them, corrections only happen once in a while which doesn't stop the bull just slows it down, we have been here for months, its not a slowing down at this point, its stopping.

[darewaller]

This has always been the way that bitcoin grows, it is just once in a while that bitcoin makes a high surge without expectation, so  you might see bitcoin slow right now, but before you wake up tomorrow, you might have seen it multiplied.

Another reason why I think bitcoin has not been able to cross over to some value that is higher is because many traders are always pulling the value back anytime it wants to gain a very high momentum because of their gains that they are removing often once they get any profit which we can’t stop them from doing because that is what they work for. This may be how bitcoin will gradually gain its momentum till further notice when the bull run that will make it shoot to that $100k you are expecting comes, maybe in 10 years’ time.

[davinchi]

There was a ton of money to be made from this increase plus we are forgetting that there was a lot of money who have been waiting to sell their coins for a long time as well, people who bought during the fall from 20 thousand to 3 thousand, they have been keeping those coins on their wallets or exchanges for over a year now. So when the price went up the people who wanted to take out profit (it was close to 4x at its peak difference) and people who have been waiting to sell their bags all rushed and sold their coins, eventually that resulted with price not going up and than price going down.

I think we got rid of them, right now its a big war between buyers who are generally traders and bulls and sellers who are miners and traders (traders trade for both sides obviously) and whoever ends up winning will be the direction we will go.

[Theb]

Neither, while we are experiencing a short-term rally at the moment it doesn't mean a reversal happened from where we are now Bitcoin is still down 21% from its recent high which is around 13,845$. We are in fact is still in a consolidating stage which is better compared to when we are consolidating in the 3k to 4k level. Also if you look at the price increases we are having now you will see that the trading volume is lagging behind meaning the buyers are not supporting the current price increase now, I don't expect this rally to continue for far longer not unless it picks up pace with a sudden rise in volume.

[gantez]

When I remember the speed in 2017, I just don't know what to say because it wasn't expected yet speculated. So at the moment speculation is a market sentiment where people predict based on what view or analysis they have. I respect the view too.

[1Referee]

Also if you look at the price increases we are having now you will see that the trading volume is lagging behind meaning the buyers are not supporting the current price increase now, I don't expect this rally to continue for far longer not unless it picks up pace with a sudden rise in volume.

The volume is lagging behind because the range within the price can bounce up and down has shrunken a lot from when we peaked two months ago. It's stuck in what appears to be a massive decending triangle that will break up or down before the end of this month. When the range tightens, the volatility by default decreases, and thus the volumes too. Perfectly normal.

The volume will come back when we finally get to break out of this decending triangle. It will either be a very brutal crash or a super sweet pump. Measured move is ~$4000 up or down if nothing stops it in the process. If we break down, who knows how long it will take before we get to retest this year's high. Make sure you're ready to buy low with a heavy bag of fiat just in case.

[exstasie]

The volume will come back when we finally get to break out of this decending triangle. It will either be a very brutal crash or a super sweet pump. Measured move is ~$4000 up or down if nothing stops it in the process. If we break down, who knows how long it will take before we get to retest this year's high. Make sure you're ready to buy low with a heavy bag of fiat just in case.

What is that measured move based on? Are you saying if $9K breaks we'll see prices near $5,000!? I have a hard time believing that.

A typical AB=CD using percentage moves would target the $7,500 area at most. Even that would be hard to achieve at this point, considering the 20-week MA is now above $9,000:

[Slow death]

In the last 24 hours bitcoin have gain some amount of increase in it price, as at this time bitcoin is sitting at $10,349 and slowly gaining momentum to reach $11,000.

The price has risen but has failed to exceed $10800, so far it has stabilized at $10500, but the key question is:

Will the price increase much over the next few weeks? will BAKKT have a good influence on price? we'll see this after the 26th of this month

With this slow and staggering price movement do you think bitcoin will reach $100,000 in the next few years as predicted by some analysts.
What is you take on this and also follow the link below to see the views of other investors and they stand.
https://zycrypto.com/bitcoin-is-medium-term-bearish-and-wont-see-100000-in-the-next-few-years-analyst/

I don't understand why some people will be obsessed with this $100,000 price? honestly I don't believe we see this $100,000 price in less than 4 years

[STT]

10k is nothing because the figure is different in every currency, I believe the Japanese have 1 million already.   We dont spend our days thinking about it though.
    If we flip on our ultra bearish welding googles to consider the extremes and its always possible sure but last case of such a thing is early 2018 when we passed the 20 week average by 4000 before recovering.   I watch an options trader who covers these bands of probability to price movements, there has to be a kind of mood to run straight over the normal kerbs that channels price normally.   Usually theres a big run up for such things to occur.   I dont see it right now, its quite calm but if we get some upset then sure.
   A reasonable band to price fall right now is about 1000 and then we need move the needle to break support working previously.

[crzy]

When I remember the speed in 2017, I just don't know what to say because it wasn't expected yet speculated. So at the moment speculation is a market sentiment where people predict based on what view or analysis they have. I respect the view too.

A different trend of price this year but good thing is that, we are able to pump from the bottom and the price is still recovering. We are on the sideways trend since bearish was done already and maybe waiting for the bull run again.

[sana54210]

Right now, it is looking a bit more bullish. Sellers trying to drop the price as much as they can and they do bring it under 10k but no matter what they do we end up with over 10k because people want to see bitcoin price going up and can't deal with low prices anymore.

We had a whole year of low prices and people are sick and tired of it, they are willing to spend some money to see it go up, do not think of people who are like going to their regular jobs and coming back and spending it on bitcoin, think of whales who got in at high prices and now they are lowering their entry average by also increasing the price, those whales had enough of this low price and now that they see it can go above 10k, they are feeling why not going above 20k once again as well.

[Questat]

With the current trend we have, I don't see any market play by now and even whales do some price manipulation as what they did before. We are entering the BER months already and as the expected price will going up as it happens in previous years. However, I've never thought and I never put conclusions that it keeps moving high just like we experience last 2017. The bull run may possible to be with us again will have a big difference from what we've experienced before.

[Hamphser]

With the current trend we have, I don't see any market play by now and even whales do some price manipulation as what they did before. We are entering the BER months already and as the expected price will going up as it happens in previous years. However, I've never thought and I never put conclusions that it keeps moving high just like we experience last 2017. The bull run may possible to be with us again will have a big difference from what we've experienced before.

This time the bull run may not be the same as what happen in last 2017 bull run but i think there might be a slight changes when will be the final bull run to happen. We will just have to wait for more time to pass since the bitcoin halving is getting near, we could expect already a massive rally during that time.

[dark08]

With the current trend we have, I don't see any market play by now and even whales do some price manipulation as what they did before. We are entering the BER months already and as the expected price will going up as it happens in previous years. However, I've never thought and I never put conclusions that it keeps moving high just like we experience last 2017. The bull run may possible to be with us again will have a big difference from what we've experienced before.

This time the bull run may not be the same as what happen in last 2017 bull run but i think there might be a slight changes when will be the final bull run to happen. We will just have to wait for more time to pass since the bitcoin halving is getting near, we could expect already a massive rally during that time.

Bitcoin dominance in the market but like what you said this bull run is not the same in 2017 but the good thing that I see in this current bull run its pump slowly but surely as what people expected this ber month a huge pump up but who knows what will happen to the market just stay tune and carefully whatch bitcoin price action.

[tukagero]

Maybe this is the start of bull run ,cause i saw the latest  news and posted on different social media sites that bakkt is now accepting bitcoin deposits,.this is what were waiting for.

[Reid]

Bitcoin is a struggle. The struggle of a bull with a bear. Eternal struggle.

The struggle for me is how can I buy again with the expensive price.
Before I could get a lot of it with just my monthly salary. Now, it is a problem to even buy just a single of it.

I do think it is moving forward, it is still a bull run. $1k will the bearish price for me.
Yeah, please dont stop the FUD for me to have a chance to buy again at a cheaper price.