Btc:Could we expect a bigger push -up?

[Lasky366]

Btc: Could we expect a bigger push-up?


Let's get back in the game, like i said earlier this weekend i took a long, my entries we're 6 710, 6 660, 6 610 & 6 580.

But why am i bullish?

1. Breakout from the hold downtrend channel

It's not the first time that it happened, but i still expect a good reaction from bulls.

After breaking on the 3d timeframe we saw a drop around 6 610 which was the broken resistance now turned into a support.

2. Halving vs Disbelief

From what i saw the majority lost more than 50% of their account in the last drop from 10.5k to 3.8k, we can see that a lot quit or are sitting in Usdt at the moment.

With Halving coming in a month it's the perfect moment to start pre-pumping Bitcoin. Which doesn't mean moon yet, but at least to see a normal correction from the drop.

3. Still be careful

My current strategy is to stay in the long until 7 710 - 7 975 (0.618 fibs), from there i would expect another drop around 5 300 (0.236 fibs).

If we get there, i will close my longs and will switch about 50 - 75% of my Btc position in Usdt, i don't want to miss the start of the wave up so i will always keep some Bitcoin.

If you're not in yet, i will add more around 6 870 - 6 820.

Cheers!

[Mpamaegbu]

I share in your bullishness on Bitcoin and I guess it's the safer route to go, considering the happenstance globally. Besides, May is just around the corner and I anxiously await a fresh wave of reawakening in Bitcoin price because of Halving in May. We shall likely experience another round of the post August 2017 era that saw the first ever Bitcoin fork.

BTW, it seems the days of Bitcoin forks are now over?

[naomi-the-cat]

Halving is near and this is the only one reason why i still a bit optimistic about btc price

[pooya87]

halving on its own is only a short term hype that has never been able to cause a small price rise for a short amount of time before the correction hits. the real rise is always due to adoption and mainly occurs after the halving when the real effects of 50% smaller daily new coins is felt by the entire market accompanied by an increasing demand.
right now as the big manipulated dump is coming to a conclusion and the whales accumulation is near the end we are seeing price go back to above the intrinsic value and get out of the undervalued state. this could kick start the rally although the fear could still be a preventing force.

[Meowth05]

It seems that this push up will be unpredictable. The price went 7k last time and there is another plummet. This might be a temporary pump but I hope that I will earn a lot in the next days.

[Assface16678]

There is a lot of chance that the market price of the bitcoin will beat the previous market because of the bitcoin from the previous weeks are now rapidly increasing and today there are a lot of people starting to earn for more than one bitcoin on their wallet and this is quite good because they are now accepting the use of cryptocurrency on their places and also we are hearing a lot of news that the bitcoin transaction are one of the safest things to avoid getting spreading the rapidly pandemic virus and also we aim forward for more at the price of the bitcoin because it is now going up rapidly and becomes people choice.

[Reid]

Trying to be optimistic about it.

There are times when it gets scary. Like a $500 drop which sometimes pulls other traders who are in panic.
That means it could go way farther down if that happens.

So push the reality that halving is coming. It might be key for another pump. That is, if you are in a hurry or doing it short term.
But I still believe that the upcoming rise with the effects from the halving is not in this year.

[Botnake]

I always expect because it seems like the market has finally awaken now.
This is quite unexpected that bitcoin will rise amidst the world crisis, but we are seeing it here now, I was optimistic that bitcoin will still rise when it dump to $4100, I would not change that optimism now that bitcoin has recovered and it looks to breakout now..

the analysis you shared is good but everyone might have a different belief on what is happen now.

some still have a doubt while some are happy with what they are seeing and expect for further rise.

[tomahawk9]

It's looking like the dump is coming to an end as bears seem to be out of ammo, though it's too early to draw conclusions, it's been just a couple of days since this uptrend started.

But it's not just in the cryptosphere where we saw a surge in prices but also financial markets around the globe are starting to rally after several weeks of red numbers and pessimism, although, I wonder how long this will last? And i'm mentioning the financial markets because, at the of the day, we (small time crypto users) are at the mercy of the big whales (not talking about you're regular wannabe btc investor, i'm talking about the big boys from Wall Street and whatnot) and they're at the mercy of whatever shitstorm pops up out of nowhere like a stock market crash, crude oil war, sudden btc crash or some big scam or crypto exchange hack. These big whales will nope the f*** out if something bad happens and this will trigger yet another dump in the market.

Nevertheless, considering that this rally in every market could incentivize the retail investors to start pouring some capital into the cryto ecosystem in the next few days or weeks, I think we could expect a pump very soon.

[mahilchii]

I am desperately waiting to see some pump before halving and I believe it possibly happen, BTC is going up slowly after a big dump before a month and again it's back to the pavilion.

But still we cannot justify things so soon, crypto is very volatile and unpredictable as normal. To me it looks like the bullish trend has started and ready for perform in any condition.lets hope it will go up again.

[BrewMaster]

i don't think the recent drop could be explained or analyzed by any kind of technical analysis which is why your "desceneding channel" although may seem reasonable doesn't make sense to me.
i believe TA without any kind of logical explanation is just lines on a picture and there is no logical explanation for the sharp drop from the $10k mark down to $3.8k in such a short period of time.

can be expect a bigger push up? right now it looks like we are back to 1-1.5 month ago at the beginning of the push up from $7k.

[ScamViruS]

The Bitcoin Market appears strong after a huge collapse. If you talk about the last market dump then there was only panic. There was no analysis work. Yes Bitcoin halving is coming which will give Bitcoin price a boost. But I think after bitcoin halving, the real bull market of bitcoin will start. We have to wait for that.

[TheGreatPython]

In my view, bitcoin almost defeated the corona virus panic bears. It seems we are slowly climbing up toward $8000 levels which must be the next physiological resistance levels. If breaking up $8k levels with huge volume and sustaining above it will lead to $10k levels in coming weeks.

If there would have been no corona pandemic and lockdown then probably we might have been into $12k levels by this times just due to FOMO on upcoming halving in late May month. But, anyhow after the drastic downfall, bitcoin markets once again proved its own strength and now I guess everyone may start adopting bitcoins at least as an emergency fund for unexpected economic slow down times.

[dunfida]

The Bitcoin Market appears strong after a huge collapse. If you talk about the last market dump then there was only panic. There was no analysis work. Yes Bitcoin halving is coming which will give Bitcoin price a boost. But I think after bitcoin halving, the real bull market of bitcoin will start. We have to wait for that.

Try to compare out on when bitcoins price shoot up which is on after the halving event or in short it do moves out on long term aspect than seeing its short term effect which most people do focus on.
About on expecting a bigger push then we should not think up this way as always because market wont be just like this as always. Of course we can expect bigger push up but we know that
nothing is guaranteed on a speculative market.What matters here is that you do know to make money no matter what market situation we are in.

[Heisenberg_Hunter]

People have been cautiously waiting for the halving event to come to an end and later on trying to pump up the prices to a newer 2020 high. But there weren't much of the global events playing against bitcoin prices for the past 2 events, but we have been hit hard due to the virus outbreak which is one of the primary reason many traders and investors are liquidating their bitcoin/stocks/precious metals to fiat money so that it might be useful during severe downtrends being caused to them.
Let us try to compare the events which were triggering the price rise for the past two times :

• The 2012 event was the first among such a event where the total coinbase rewards dumped from 50 to 25 where each coin was priced just $12. This halving could have triggered the miners and traders thought about the rarity of the coin in future and probably due to this we could have seen various buy movements.
• Considering the 2016 event, the 2017 price hike was driven due to the varied interest by Newbie investors towards alt market. There was FOMO all over the crypto space and people just thought that these scam coins might reach the prices of bitcoin at some point of time. But right at this moment we have been experiencing various problems all over the globe while bitcoin halves into two again.

With a greater recession coming into picture due to the negative outcome of the outbreak, many of the traders and merchants might start accepting the global currency in their markets. Adoption will further rise the price but reaching ATH of $20k+ is a commendable thought to be honest.

[Stedsm]

I exactly thought the way you did, but these are weekly charts and each timeframe defines a new story every moment we see them. To my understanding, this scenario looks like it'll recover slowly and will catch up some speed where some huge greens can also be painted by market makers by pulling the orders higher and higher. $8648 looks an important point to be broken above, and $9000 then after. But I'd rather expect BTC to remain sideways near $7550 and just get a Doji on the charts.

[BlackFor3st]

Btc: Could we expect a bigger push-up?


Let's get back in the game, like i said earlier this weekend i took a long, my entries we're 6 710, 6 660, 6 610 & 6 580.

But why am i bullish?

1. Breakout from the hold downtrend channel

It's not the first time that it happened, but i still expect a good reaction from bulls.

After breaking on the 3d timeframe we saw a drop around 6 610 which was the broken resistance now turned into a support.

2. Halving vs Disbelief

From what i saw the majority lost more than 50% of their account in the last drop from 10.5k to 3.8k, we can see that a lot quit or are sitting in Usdt at the moment.

With Halving coming in a month it's the perfect moment to start pre-pumping Bitcoin. Which doesn't mean moon yet, but at least to see a normal correction from the drop.

3. Still be careful

My current strategy is to stay in the long until 7 710 - 7 975 (0.618 fibs), from there i would expect another drop around 5 300 (0.236 fibs).

If we get there, i will close my longs and will switch about 50 - 75% of my Btc position in Usdt, i don't want to miss the start of the wave up so i will always keep some Bitcoin.

If you're not in yet, i will add more around 6 870 - 6 820.

Cheers!

Btc is currently sitting at 7166 with negative 1.75% change in 24 hours, the price graph of the top 3 currency base on coinmarketcap are almost the same if you are going to check. A bigger push up will be expected if the big investors will start it because small investors can't do it by their own not only if their are countless small investors who will push the bitcoin price.

If the price will likely to hit to within your strategy 7.7k-7.9k, I cannot say that it will take that long to break the 8k especially that the halving is very near.

[Findingnemo]

I didn't expect that much faster recovery to crypto market because still there is no betterment on Pandemic and stocks are not doing great and the whole world is in the fear of recession but the cryptos are going harder and stronger while proving that we should have to move to the new kind of investment/payment after this pandemic.

Possibly the prices will keep going more if it falls under the radar of every investors.

[rodskee]

I think i have seen that Thread you are talking sometime around and i remember that i did Bashed you if i am not mistaken  .
But it seems that you are correct so this time i will wait for that 7,700-7,900 to sell off because if the price will going
 bellow 5k again then this is my chance to at least be ready before the Effect of Halving happens this year an at
last i can make good profit after a long time of waiting.
just Please Update this thread from time to time of what is the situation and the next step.i am not also a fan of
predictions but at some point there is really happening by chance or luck?i dont know but it is happening.

[Lanatsa]

I didn't expect that much faster recovery to crypto market because still there is no betterment on Pandemic and stocks are not doing great and the whole world is in the fear of recession but the cryptos are going harder and stronger while proving that we should have to move to the new kind of investment/payment after this pandemic.

Possibly the prices will keep going more if it falls under the radar of every investors.

That signifies that no specific events that would dictate on what would be the price of btc or entire crypto market because it can move out unexpectedly even myself didnt expect that it would recover so early yet we know that we do still see that the world is still affected with the pandemic and other sectors are still on reds talking on traditional markets but crypto is starting to recover.

We can expect an increasing price because market cant really have a dumping situation forever- there would always be a recovery but no one cant precisely predict on what would happen.