Is Bitcoin Looking Bullish now?

[TravelMug]

Did the OP published this prior the the twitter hack? If yes, then his pivot points should have at least move in the last 24 hours, as the price goes on a small dip after it. So with that, then the formation have shifted and obviously there are no bullish sign as the price was somewhat stuck again.

So we need to wait for another trend that will come out, maybe their will be an eventual run, but it will take a while. TA is good but it is not perfect.

[okala]

Bitcoin is not looking bullish. If you study some technical indicators you will understand that bitcoin is now more of a bearish trend. I think many big traders are taking break from the market in fear of what is going to happen next and the only thing happened in the market now are the activity of day traders.

[ololajulo]

There are signs that the price will be quiet most part of this year, Am also struggling to deal with it. The market is compared to the 2016, maybe a little pump towards the Q4 of this year, This present market is giving chances for altcoins to get attractive in the market, get other market adoption before it breaking of ATH will get whole market frenzy while bitcoin gradually drops in dominance over a period.

[Reatim]

Bitcoin is not looking bullish. If you study some technical indicators you will understand that bitcoin is now more of a bearish trend. I think many big traders are taking break from the market in fear of what is going to happen next and the only thing happened in the market now are the activity of day traders.

Seems like that is the situation now.and yeah Whales are just lurking around now to move those shitcoins to bag some money.
They know that the effect of the pandemic will stay more so why bother to invest in bitcoin that is not going good for a while?

What they are waiting is the sign that market is applicable again for investing things that may not happen this soon.

Hope fully in the coming 4th quarter there might be changes,lets hope and pray because it has been years when we last taste  the product of our investments here.

[posi]

There are signs that the price will be quiet most part of this year, Am also struggling to deal with it. The market is compared to the 2016, maybe a little pump towards the Q4 of this year, This present market is giving chances for altcoins to get attractive in the market, get other market adoption before it breaking of ATH will get whole market frenzy while bitcoin gradually drops in dominance over a period.

This year market cant be compare with the year 2016 market cause theres no pandemic issue then and the level of whales manipulation is not this strong. Besides, the last time i checked bullish market have already stated by now during the year 2016 but if you think the current market trend is giving chance to altcoin i will advise you not to go for long form of trading simply because the arbitrage are just looking for a means to make profit.

[Harlot]

The price of Bitcoin is going up but the volume is decreasing? That's not a bullish sign for Bitcoin but rather a clear sign of a weak breakout attempt. It's one of the most important technical indicators to see if the price rally we are seeing now is due to demamd or price manipulation which in this case is just showing the latter. Price going up like this wothout volume backing it up can also mean that only few are really interested to make a push for a breakout. Of course if we just look at the candles and trendlines it may look like Bitcoin is poised for another rally but sadly volume is not backing it up.

[bitgolden]

Market looks bullish since last April after the pandemic panic triggered the steep fall not through technical way but I am just talking about the sentiments of bitcoiners among halving and investors' alternate investment hunting. But, it seems we may need to be into the sustaining region before breaking the biggest psychological resistance level around $10,500. That seems as the resistance of year 2020; if it gets broken then we can easily have BTC prices into new ATH zones, more or less as entering into $11k zones, will get more institutional investors on board as that must be the enough sign to assume beginning of post-halving bullish/ beginning of four year cycle.

we need to wait for another trend that will come out, maybe their will be an eventual run, but it will take a while. TA is good but it is not perfect.

TA may be late in getting you the trend but it is purely up to us on how perfectly interpreting it rather than just "reading" it . Another bull run probably will be triggered by the vaccine related news or anything like that. Please watch the news instead of relying only on TA; it might help you to be more perfect.

[Kelvinid]

Well, it hopes but has not to expect it more.
We saw the trend is not really overwhelming, not even to surge high even seeing it at $9.5k and see its market volume, this is less possible for the market to turn into bullish but rather to keep it low. We are getting difficult this time, we can't move into this speculation that we surpass $10k if there is no huge increase in volume, it could be the same as what we saw in the past days.

I know Bullrun will come but it can't be of this year, I know we ain't be hopeless but the market speaks and that is the reality now.

[STT]

Its looking negative yet holding an upper range it can only be said to look slightly declining in its outlook.   I'll post up a chart in a bit but we have a series of highs each lower on each peak and some moving averages matching that action in a decline.



Though it might not look too severe, we have a similar decline even with daily bars over the last two months.   Yet its not exceeded the 9000 properly, try 8730 for a proper marker to any move down as that'd match 2019 action around this time also so when we lose that theres a proper chance of a move developing to bring price down to something along the spring lows, 200 day average shouldn't be that much of a stretch but I'd like to see it visit the 200 week average for a proper trade.   Upwards I dont especially speculate on its not given much indication of that and I think down prices have to be verified first.

[Dr.Osh]

what I'm thinking right now is, there won't be a bull market this month. it looks like we need to wait for the next month to see the pump. Well, I am still guessing, but seeing the state of bitcoin at the end of each month decreases, and the beginning of the month goes up, so I conclude that most likely the current price of bitcoin will be stable at the current price as last month. maybe August can be a start for a bull run.

[TheGreatPython]

what I'm thinking right now is, there won't be a bull market this month. it looks like we need to wait for the next month to see the pump.

Due to recent twitter based heist and its bad consequences on image of cryptocurrencies? I guess that will not last for another 2 weeks of times as we are already having the pandemic thing to get deviated. I do see slow economy could be the another probable reason to back your point.

the state of bitcoin at the end of each month decreases, and the beginning of the month goes up, so I conclude that most likely the current price of bitcoin will be stable at the current price as last month. maybe August can be a start for a bull run.

2017's August was still in my fresh memories. Segwit was activated and followed by that the massive bull run was triggered. For some reasons, we are having same kind of market conditions right now and this sideways market may get launched into upper side in coming weeks. If that happens then that would be the another confirmation for what people do keep on saying "history repeats itself". I am as well saying each month starts positive for bitcoin markets but after than heavy dumps spoil all our hopes .

[sunsilk]

what I'm thinking right now is, there won't be a bull market this month. it looks like we need to wait for the next month to see the pump.

It's very early to expect the bull market within this month or even for the next month or two. There won't be any bull market I guess and we have to calm our horses and just wait until there's a sign for it.

Well, I am still guessing, but seeing the state of bitcoin at the end of each month decreases, and the beginning of the month goes up, so I conclude that most likely the current price of bitcoin will be stable at the current price as last month. maybe August can be a start for a bull run.

Yeah seems it's like what is happening. It was stable for the past week and I think we can go for more of it. It's just a stable and calm week and even might be at the end of this month, not that much action so there's no tense.

[AjithBtc]

The market was supposed to be bullish by now, but for some reason the growth hasn't took place as predicted. The recent twitter issue is adds up a reason for the market being stable without much of growth. In reality the growth that's been affected due to the pandemic is carried forward. Maybe some market push can be expected by the next month, but for a perfect bull trend it takes time. Possibly it can happen by 2021.

[coolcoinz]

The market was supposed to be bullish by now, but for some reason the growth hasn't took place as predicted. The recent twitter issue is adds up a reason for the market being stable without much of growth. In reality the growth that's been affected due to the pandemic is carried forward. Maybe some market push can be expected by the next month, but for a perfect bull trend it takes time. Possibly it can happen by 2021.

Most of you seem to think that the price has to keep going up for the market to be bullish but you're still not looking at the big picture.
First of all, Bitcoin has never gone up just like that right after the halving. Instead, it kept relatively steady for months before it took off and the time between the halving and the peak of the bull market was greater each time. You also have to consider the coins coming to the market each day, increasing the supply. The fact that despite the pandemic and miners selling we are still holding steady at 9k makes it bullish.

[Coin_trader]

Technical Analysis Over BTC

Previously BTC did not break the Resistance Zone around 9.325$, which led to the decline and denied our long setup. Now we have an Ascending Channel at 1H and BTC is retesting the Pivot Point. If there is a confirmed breakout of this point will look for a long position. Also consider an option with a retest of the Lower Boundary before we go upward.

Overall locally BTC has a bullish priority as an Ascending Channel, the priority will stay that while we keep inside of this formation.

Maybe you should try to plot line for the descending pattern too. BTC still didn't broke that descending line since it start to rally up to 10k back and forth to 9k.  Your ascending line is in contrary to MACD and the daily volume record. If you connect the Decending & Ascending line, that will be the boundary for the deciding factor of the trend. I'm hopeful that BTC price will follow your prediction because I'm a fellow holder too but my guts telling me that it will fall again below 9k$ based on the weak buying power of BTC right now.

[buwaytress]

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.

you see, this is the problem with TA that has always turned me away from it. we draw all these lines on the charts and make a lot of analysis but in the end we keep seeing that there is no way of coming up with a prediction of how the market is going to work based on TA.
for instance here, there is nothing special about $9020 or even $9000 for that matter. price did reach $9020 and a little lower in some other exchanges but it didn't go any lower. it simply bounced back up to $9100+. shorting based on that meant losses (at least for the past 12 hours).

Yeah, and even when people try to remove emotions from the equation (which causes us to see lines and patterns that we want to see, rather than the ones that are obvious), it's still the market doing its own random, inevitably ruining logic. Machine learning and AI algos have been put to the test, crowd intelligence models trialed by blockchain and non-blockchain firms. They all eventually show the same results, at least after a while. Can't game the market in the end.

[Zemomtum]

I don't Bitcoin is looking bullish at the moment, It might go down below what is drawn above before we see any significant major movement uoward.

[Cherylstar86]

As per graphical analysis, I can't see good signs that we're going to experience any bull run this year. The previous attempts has no significant factors that will create more demands to attract buyers to buy a lot of assets. There's still a normal trend that we will experience, slight downfalls and minor increase.

[KnightElite]

Actually there is no sign of bullishness in the chart right now, as you can see the price is consolidating inside the support and resistance range but the longer the consolidation the better, I think will take a lot of weeks or even months before we see if the price will continue to go up or it will breakdown in its current support. We should now have a plan especially if we want to buy bitcoins.

[michellee]

As per graphical analysis, I can't see good signs that we're going to experience any bull run this year. The previous attempts has no significant factors that will create more demands to attract buyers to buy a lot of assets. There's still a normal trend that we will experience, slight downfalls and minor increase.

Maybe we will wait for a long time for the bull run, which might not happen this year. But we never know when the bull run comes. We already see bitcoin price moves up and down until now, and it could happen for more if the market is not increasing. But we need to have a positive mind that the bull run will come soon, and we need to have more patience.