Bitcoin Uptrend Broken

[Wysi]

This was expected as there needs to be a some sort of manipulation which needs to take place before halving in order for the whales to reinvest into Bitcoin and that's what is happening now but altcoin are worst hit as coins like TRX has faced approximately upto 25% dip, upcoming few weeks will be very crucial in deciding the next quarter of crypto market.

[palle11]

In the coming weeks, we should expect more steady climb to $12,000. The price have been steady and now this drop is for a little shake up and correction before a further bull run.

[criza]

I was surprised about the sudden dump on the price of Bitcoin because, I thought the start of the year claims the Bullish run in the value of Bitcoin altroughout the month of January- first weeks of February setting new high records for the year 2020. I wonder why there is a sudden fall in the price of it, maybe it is because, investors or users are selling early before the upcoming halving event.

[Latviand]

We are really seeing a slight downtrend upon the short term increase which happened recently. But I won't take it as something disappointing but another opportunity to invest while the market price is still low. Many people are anticipating for the huge increase in its price once halving occured and it might be the main thing which would make its market value bullish again to reach another all time high.

In the coming weeks, we should expect more steady climb to $12,000. The price have been steady and now this drop is for a little shake up and correction before a further bull run.

Hard to tell still whether it would be able to get pass $11,000 mark given that it have only achieved the $10k mark this year. The price could more likely stabilized at the $9,000 point before halving occur. And if it would fall for more, do not hesitate to invest because huge profit is on its way once true bullish run occur.

[ScamViruS]

The market has moved upward since the beginning of 2020. Everyone knew this would be the correction. We have all seen that as the market pump unexpectedly then we see a correction. This is the behavior of the market. After this correction, we will see a larger market going upwards. This correction has made me interested in buying more Bitcoin.

[bitbunnny]

I don't want to sound as a pesimist but that was expected. It wasn't realistic to expect that the price rise will continue without any interruptions. Some corrections were expected.
However, we have to say that in.general we had some positive trend from the begininig of this year that is visible on the market. And current correction also doesn't mean that the upwards trend will not continue again.

[Viscore]

Well it seems like the downtrend is already over.

For bitcoin rising consistently, it needs to be corrected, so far this year, this is the biggest correction we are witnessing now but it's okay since bitcoin had already have some significant rise in the first week, and I am pretty sure it will not end up to be bearish since the halving is still far away.

bitcoin needs to bounce back strong, and then the uptrend will again resume.

[Smitty Werben Man Jensen]

I think this bullish trend has not been tampered with, there is still hope, in Time Frame 3 hours, 4 hours and 1 day is still very Bulish for Bitcoin you do not have to worry, buy Bitcoin at the price now and sell at $9900 be the target first, and install SL at $9500 , if missed then we will see support in Time frame 4 hours there in $9300, I use the EMA 200

[Baoo]

Actually, the dump was expected and necessary in my opinion, it is true that this correction is still continued and It may last to few days or one week I would guess. Fortunately, Bitcoin's price is still in 9K during the period. Believe me, this is just the calm before the storm, it may be a good chance to buy some  crypto with a good potentials  in this little crisis like, Cardano, BCH, Bitcoin sv, Litecoin, EOS of the course the king Bitcoin. Good things always take a lot of time, be patient.

[Saint-loup]

I don't want to sound as a pesimist but that was expected. It wasn't realistic to expect that the price rise will continue without any interruptions. Some corrections were expected.
However, we have to say that in.general we had some positive trend from the begininig of this year that is visible on the market. And current correction also doesn't mean that the upwards trend will not continue again.

I agree with you except for the second part of your post, I don't see any reason for Bitcoin to grow till the moon now and many investors think the same IMO, so they take profits before it's too late. Only permabulls never take their profits and I don't think they're driving the market for this moment.

[Stedsm]

We have already been talking about these things in a different thread where one of the worst predictions has been made by Tone Vays

I also thought that BTC, if risen like a star - will become a shooting star too as it has shown in each leg (as described in my comment in the link - check chart by exstasie). I believe this to be the final leg where we will probably see the cheapest BTC (for now) and then it'll finally explode to the new ATH levels (nobody knows where but possibly me - $25k) and then come back to $18250. I don't see any reason why I'd call it an uptrend broken as it was just a small, needed correction for us and it has already been recovered.

[Saint-loup]

We have already been talking about these things in a different thread where one of the worst predictions has been made by Tone Vays

I also thought that BTC, if risen like a star - will become a shooting star too as it has shown in each leg (as described in my comment in the link - check chart by exstasie). I believe this to be the final leg where we will probably see the cheapest BTC (for now) and then it'll finally explode to the new ATH levels (nobody knows where but possibly me - $25k) and then come back to $18250. I don't see any reason why I'd call it an uptrend broken as it was just a small, needed correction for us and it has already been recovered.

25k$ when? This year? It's a +150% growth as for now, why would bitcoin grow like that in the coming months while it is mostly flat since the beginning of 2018? I don't understand what it has positively changed for 2 years?

[GreatArkansas]

On the receng drop below $10,000. It was a pullback for me and Bitcoin just get those peopl who didn't able to buy before going above $12,000.
This stochastic rsi indicator is helpful to me, as I saw it yesterday and that's the time I was able to load more Bitcoins on my bags. And now we are again back at above $10,000. During uptrend of Bitcoin, lot of bears will get rekt for sure.

[palle11]

From the chat, I believe it is a correction time that we are seeing now and it is likely going to be shocking the way price will kick of.
This might be another good time for hodling.

[STT]

Its always a good time for hodl but the question is over what time period.    Of course this is the speculation or more active trading part of the forum or thats how I view it.   Ideally I want to sell the high, buy the low and overall be net involved in BTC but to capture both points is ideal as it allows me to increase the amount held per dollar.
    Uptrend broken is how I view it currently also but the dramatic fall is not occurring really, I see sharp sells but its not following through which means net difference of very little.   Hard to say its negative when it goes nowhere and many will speculate upwards not down while we wait for it to resolve.   



Looking for resistance here, roughly there is 3 peaks there.   To be bearish we dont make a higher peak and thats just short term but I keep trying to track its progress on multi time frames.  It is losing the Sunday gains now.

[imstillthebest]

From the chat, I believe it is a correction time that we are seeing now and it is likely going to be shocking the way price will kick of.
This might be another good time for hodling.

indeed its a correction no doubt  . that always happen after every recovery   . this isnt shocking anymore and its not also shocking to see the price sky rockets again because right now people start to accumulate more coins again  . they buy not because the value drop a bit but because they are aware that there are still upcoming events  that will up the price  .  this time is not a good time for hodling but its a good time for buying  but what are we gonna do once we are done buying  ? still hodling anyways 

[thisnewcoin]

The downtrend was expected for me and I am still thinking Bitcoin will come to under 9K USD anytime! Because the market needs correction! The growth happened in a couple of days, it seems the market is being stable at a good price, but for a big jump, the market needs to come down and correction it. I think after the halving when all hype will be gone, we may see a major dump!

[justdimin]

I guess when the price goes above 30%, it is kind of expected that there will be a correction, there are just way too many people who bought under these prices or around these prices and have been holding for a long time so I kind of understand why they would want to get rid of their bitcoins and sell for a while to finally take a breather.

Not everyone has too much patients or even have money to keep their coins forever, so it is understandable that some people will eventually sell but the people with deeper pockets will just watch them sell to market prices and drop the bitcoin price in total and buy cheaper when that stops, that way they are making a lot more profit.

It is basically the thousands of years old saying of "money attracts money" and you just make more profit if you can afford it.

[whyrqa]

I guess when the price goes above 30%, it is kind of expected that there will be a correction, there are just way too many people who bought under these prices or around these prices and have been holding for a long time so I kind of understand why they would want to get rid of their bitcoins and sell for a while to finally take a breather.

Not everyone has too much patients or even have money to keep their coins forever, so it is understandable that some people will eventually sell but the people with deeper pockets will just watch them sell to market prices and drop the bitcoin price in total and buy cheaper when that stops, that way they are making a lot more profit.

It is basically the thousands of years old saying of "money attracts money" and you just make more profit if you can afford it.

I very much hope that the cryptocurrency market will not suffer from those users who crave profit and when they wait for Bitcoin to grow to a certain price level, which can trigger an active sale.  I really would not want to observe such a situation.  Nevertheless, I have Great Expectations for a halving in May 2020, which by all indications should bring a bullish trend to the cryptocurrency market.