March 9 2020, Start of Bearish Season

[Casdinyard]

Good day to all of you, I think my topic isn't that really appealing, though I hope we could still learn some lesson from it to stick with bitcoin and cryptocurrencies.

According to this article, the performance of bitcoin for the next months will not be appealing because of the factors such as COVID-19, and because of the 13000 Bitcoin lost from Plus Token Ponzi.

These factors are merely fundamental analyis why market price of bitcoin and cryptocurrency changes.

According to dailyfx.com, there is allot of patterns that shows that bearish season is about to come through the use of technical/market analysis of the graph of bitcoin.

April 2 - March 9, 2020

December 1 - March 9, 2020

Bitcoin couldn't break the 50 day moving average test that signifies that bitcoin's market price will continue to decline. There is also other signals that says that the non breaking of resistance of bitcoin's market is the reason why bitcoin remains to be declining.

On the other hand, any failure in closing below the low end of the zone signals bears reluctance. This could lead some of them to exit the market causing a rally towards the high end of the zone. Further close above that level could push the price even higher towards $9.579. Nevertheless, the weekly resistance level underscored on the chart should be kept in focus.

In reality, we don't have nothing to be feared of with today's market condition. If we hold many bitcoin, this is not the end and we're not lost yet. The bear season or bear market should serve as a way for us to invest more bitcoin and don't think about losing but to take it as opportunity. I can still remember, last year, the price of bitcoin dropped low to 3000 dollars. It increases in just a short time and that's how volatile bitcoin is. As long as we know that there is a reason for us to invest, we should always continue, what more today, when bitcoin halving is about to come. This will result to scarcity for miners and will force them to sell at higher price and market price increase holistically over time. I'm pretty sure that we could still have profit, that's why what we just need is to believe in Bitcoin, and take the bear season as a challenge to our patience.

[1713530221]

1713530221

[1713530221]

1713530221

[1713530221]

1713530221

[1713530221]

1713530221

[pooya87]

i don't know why some traders love to say that just because something happened it must continue on that direction! they do it for both rises and falls. just because price went up x% or dropped y% it doesn't mean it HAS TO continued rising or dropping.

what we have no is just a 3 day panic sell which is mainly because all other markets (stocks, oil,...) are crashing in most countries. whether we are going to see more panic sell or not is not something that could be predicted by looking at the charts because a panic sell is not a trend. it has nothing to do with moving average, resistance,...

[mahilchii]

Let's forget about it and think for the near future, everyone are aware it's very normal in crypto like pump and dumps are it's natural phenomena, not only crypto the entire market has crashed very badly from crude oil, stock market etc...

This doesn't mean BTC will not go up again, people are really scared of this drop and started to sell in panic. I am totally against with it, just wait for someday to bounce back rather than selling it for nothing.

[Jating]

Is that how accurate they are now in predicting  the start of the bearish trend? Lol.

As far as I know, when we have tested the five digits and then keep on retreating the following day, it only means that people are just waiting for a good price to sell their bitcoins. However, the worsening global and geo political situation really put a lot of dent on the price of traditional market and + the covid-19 scare. But still, we can't really predict the price movement, we could recover and bounce back in the next coming days when everything settles down.

[kentrolla]

I really don't have any idea in how these people are predicting the bear season. I understand the past weeks are very volatile and yesterday it was a real horror but normally this how the market works right, it is important to keep in mind that sellers are not sustaining the downward movements. I do not find any genuine reason to believe this is the beginning of bear trend, even if the price is going down.

[Yogee]

People are selling their bitcoins for fiat to buy toilet papers and other things. Once a cure is found and when the market recovers, you will read from the same source that bullrun is coming.

[thesmallgod]

It is hard to say such information you provided up there might not help crypto. There is not the first time the crypto time will befall. It has not even reached the all-time low rate. The issue is that ones the price of bitcoin increases, most people will always think that is how it will continue to grow, not factor in some specific drawbacks such as the effect of Ponzi scheme and the highly proclaimed coronavirus. Crypto will certainly recover. It is high time to buy more.

[garyrowe]

Good day to all of you, I think my topic isn't that really appealing, though I hope we could still learn some lesson from it to stick with bitcoin and cryptocurrencies.

According to this article, the performance of bitcoin for the next months will not be appealing because of the factors such as COVID-19, and because of the 13000 Bitcoin lost from Plus Token Ponzi.

These factors are merely fundamental analyis why market price of bitcoin and cryptocurrency changes.

According to dailyfx.com, there is allot of patterns that shows that bearish season is about to come through the use of technical/market analysis of the graph of bitcoin.

April 2 - March 9, 2020

December 1 - March 9, 2020

Bitcoin couldn't break the 50 day moving average test that signifies that bitcoin's market price will continue to decline. There is also other signals that says that the non breaking of resistance of bitcoin's market is the reason why bitcoin remains to be declining.

On the other hand, any failure in closing below the low end of the zone signals bears reluctance. This could lead some of them to exit the market causing a rally towards the high end of the zone. Further close above that level could push the price even higher towards $9.579. Nevertheless, the weekly resistance level underscored on the chart should be kept in focus.

In reality, we don't have nothing to be feared of with today's market condition. If we hold many bitcoin, this is not the end and we're not lost yet. The bear season or bear market should serve as a way for us to invest more bitcoin and don't think about losing but to take it as opportunity. I can still remember, last year, the price of bitcoin dropped low to 3000 dollars. It increases in just a short time and that's how volatile bitcoin is. As long as we know that there is a reason for us to invest, we should always continue, what more today, when bitcoin halving is about to come. This will result to scarcity for miners and will force them to sell at higher price and market price increase holistically over time. I'm pretty sure that we could still have profit, that's why what we just need is to believe in Bitcoin, and take the bear season as a challenge to our patience.

All the time I have spent trading Bitcoin and other digital assets, I have learnt not to fully depend on these technical analysis as there points are always based on if this and if that. There has never been any bit of certainty in all their analysis and graphs they dish out to the crypto community. Why will I depend on analysis that is based on if this and if that. The current deep in the market is simply a correction of the steady rise in thee value of Bitcoin in the past few weeks. This deep in my own opinion is not tied to convid19, it is Whales cashing out at high prices causing many small holders to panic sell even at a loss while the whales buy the cheaper BTC. A reversal is about to happen.

[White Christmas]

I really don't have any idea in how these people are predicting the bear season. I understand the past weeks are very volatile and yesterday it was a real horror but normally this how the market works right, it is important to keep in mind that sellers are not sustaining the downward movements. I do not find any genuine reason to believe this is the beginning of bear trend, even if the price is going down.

Maybe they are predicting this kind of season or happenings based on the current graph of the market or the current situation of the market in which they are just reading it via graph or how the market runs in order for them to know what would be the next happenings in the market. This is kind of hard to study those things so there are only few people who are able to read and analyze the market.

[Gozie51]

i don't know why some traders love to say that just because something happened it must continue on that direction! they do it for both rises and falls. just because price went up x% or dropped y% it doesn't mean it HAS TO continued rising or dropping.

You are quite correct with this. Many analysis depend on saying this and that is sometimes not the way it happen. I remember in 2017 when price was going higher until in December, many people thought the trend would continue that way because they have either watched from their chart and all the technical indicators are all up, their notion continued to be uptrend. Many people bought in more and suddenly, price started crashing to the eyes of people. This caused huge lose to many people till date. We just have to be careful and not to sleep in the market because of what has been predicted.

[rodskee]

the resistance for 7-8k is still there so i don't see the bearish will continue?yeah we fail to reach $11k but at least we come so close last month and saying that March 9 is the start of bear market?lol we are falling since the last week of February so where is the logic about that?
no there are no consistency in this Bearish and may be broken just day after this,as we are already seeing same from last year and now we are still having same process.
what i am sure is in May we will be having a great growth and that is what important for the crypto Holders.

[Latviand]

Not as this early. People should stop fooling themselves, really. Many people are just making huge expectations , away from the reality. The market value is obviously falling at this moment. Slight recovery is not enough to say that bull run has already started. More likely, dumps should be more expected as the date of halving is getting near. And we should hope that after the halving, prices will start to increase. With that being said, investing as the market price is falling would be a good idea. No doubt that the bullish trend is just on its way, and is not happening at this very moment.

It is hard to say such information you provided up there might not help crypto. There is not the first time the crypto time will befall. It has not even reached the all-time low rate. The issue is that ones the price of bitcoin increases, most people will always think that is how it will continue to grow, not factor in some specific drawbacks such as the effect of Ponzi scheme and the highly proclaimed coronavirus. Crypto will certainly recover. It is high time to buy more.

Actually, on the graph provided by OP, it is obvious that there was just a slight upward movement. And if you would depply analyze the market behavior based on the information provided, it was dominated by decrease in its price. But that should not make us worried. It is more likely a part of the natural market volatility, and we should take advantage of what is currently happening, in particular with investing, since the price is still low, and could be lower.

[The Cryptovator]

More you will create panic more price will dump. There is two possible reason about current bear mode, one is effect of global economy, other one is whales accumulation for halving. Regarding chart, it's nothing to do with bitcoin price. If the bear predict come out from chart then it's wrong. Chart is useful traders to check previous price trends. We know very well about current economic conditions now, so little downtrend isn't a big issue, but on the other hand I think whales are buy for more accumulation. Eventually current bear outcome from both combinations in my opinion. But I don't believe its beginning of bear season.

[Wexnident]

Blah blah blah. Empty words at this eeeeeeee point tbh. TA's completely rely on what Bitcoin is moving at. Let's say Bitcoin suddenly drop 2 -3%, a lot of people will now suddenly start saying Bearish season is coming. Now let's say it moved up 2 - 3%, TA's be like, Bullish season near??? It just creates more empty panic, especially for those who don't know stuff about how the market works. They just rely on words of the masses, thereby putting the market in a situation where instead of having it stay at that price, it becomes bearish because of the fear implanted by others to the market.

[Botnake]

I can't look at your chart as I believe there is no bear season, the recent dump is just due to a big dump by the scam money plus token, this thing will be corrected and price will start climbing again, soon we will be back and people would think its bullish market once again.

That chart IMO is useless as long as there's a panic, but this panic is surely temporary.

[KrisAlex18]

Good day to all of you, I think my topic isn't that really appealing, though I hope we could still learn some lesson from it to stick with bitcoin and cryptocurrencies.

According to this article, the performance of bitcoin for the next months will not be appealing because of the factors such as COVID-19, and because of the 13000 Bitcoin lost from Plus Token Ponzi.

These factors are merely fundamental analyis why market price of bitcoin and cryptocurrency changes.

According to dailyfx.com, there is allot of patterns that shows that bearish season is about to come through the use of technical/market analysis of the graph of bitcoin.

April 2 - March 9, 2020

December 1 - March 9, 2020

Bitcoin couldn't break the 50 day moving average test that signifies that bitcoin's market price will continue to decline. There is also other signals that says that the non breaking of resistance of bitcoin's market is the reason why bitcoin remains to be declining.

On the other hand, any failure in closing below the low end of the zone signals bears reluctance. This could lead some of them to exit the market causing a rally towards the high end of the zone. Further close above that level could push the price even higher towards $9.579. Nevertheless, the weekly resistance level underscored on the chart should be kept in focus.

In reality, we don't have nothing to be feared of with today's market condition. If we hold many bitcoin, this is not the end and we're not lost yet. The bear season or bear market should serve as a way for us to invest more bitcoin and don't think about losing but to take it as opportunity. I can still remember, last year, the price of bitcoin dropped low to 3000 dollars. It increases in just a short time and that's how volatile bitcoin is. As long as we know that there is a reason for us to invest, we should always continue, what more today, when bitcoin halving is about to come. This will result to scarcity for miners and will force them to sell at higher price and market price increase holistically over time. I'm pretty sure that we could still have profit, that's why what we just need is to believe in Bitcoin, and take the bear season as a challenge to our patience.

Do not worry about it, pumping and dumping of bitcoin is a normal thing, do not panic if the bitcoin goes down as of this month because for sure it will goes high in someday, it changes each and everyday, every hour and every minute so you should expect that bitcoin may goes down. I think COVID-19 is one of the factor that makes the market falls, there are so many problems that we may face because of this virus, which is really bad for us, some traders panic on that things that is really on of the factor of dumping and pumping of the bitcoin, I hope that this virus would be cured and disappear as soon as possible, there are so many affected areas and people because of it. Classes are already suspend for how many weeks, there are workers or company workers who afraid of going out on their home just to go in the company. It really affects our economy.

[tomahawk9]

This is dumb and straight up FUD.
We've been in a downtrend for about a month, such time frame is too short to draw conclusions...Seriously though, there's no way someone can call this the start of a bear season. To support such claims you need a lot of data, and a month worth of data isn't enough for it.

Good day to all of you, I think my topic isn't that really appealing, though I hope we could still learn some lesson from it to stick with bitcoin and cryptocurrencies

The only thing that i learned from this was: 1) To keep ignoring random crypto "news" sites, 2) To keep ignoring random charts.

[Reid]

I don't know man.
I am done with all this crap from graphs created by anyone.
There will always be a dump at some point.
Some of the buyers just want to make profit. I hope they did.

It will happen anytime. We just don't know when. But, let us just think of the future here.
Can they still keep on doing that if they see no reactions in the market despite being a group selling a lot of bitcoin?

[Twentyonepaylots]

Let's forget about it and think for the near future, everyone are aware it's very normal in crypto like pump and dumps are it's natural phenomena, not only crypto the entire market has crashed very badly from crude oil, stock market etc...

This doesn't mean BTC will not go up again, people are really scared of this drop and started to sell in panic. I am totally against with it, just wait for someday to bounce back rather than selling it for nothing.

Yeah, It is all natural with the crypto market but what is bothering for most of the trader and investor is the awkward and backward movement of the price, Even me I didn't expect the price to go lower than $9K after it hit $10K last month. I guess this is where the people got their reason to panic sell out. I'd rather hold even after the halving, most probably the prices will go up in the late 2020. Something huge has rattled the market not only the crypto market.

[Yamifoud]

FOMO may start again ( I hope it won't), some traders and casual investors are now selling their coins, converted it to fiat. It somehow happens in the past and might happen again? And if there is an increase in the number who are in panic selling, it surely will trigger a huge fallback and start to bearish again. We are not in the hold with them and so expected that weak hands will start to do it.

The global market situation bringing into this and our worries might bring us as well into a worse decision and will think of selling. There is nothing we could help if they would like to make it, only we have to do now is to keep track of the market flows and prepare for the next drops...