Bearish!

[exstasie]

Can we really say this is bearish now? Don't get me wrong I have seen the fall and I agree that was bad for the price but can we call it bearish right away? We just went down about 15% and we stayed there, didn't went down any more, at what point do we call a fall a bear or not? I personally wouldn't want to say that it was a bearish fall, I could say that it was a bad fall, even a correction but I wouldn't call it bear.

As far as I know, bearish market is a downtrend around 20%, so technically we are not as we didn't everything that price to go that low.

From top to bottom ($12,486 to $9,813 Coinbase) BTC fell 21.4%.

The weekly bearish engulfing is reminiscent of the September 2019 drop.......and also February 2020.

No, that doesn't mean the market is headed to the $3,000s again, but it certainly isn't bullish. I see more downward pressure on the horizon.

[matchi2011]

Crypto traders and holders  would view these recent market developments as just a normal occurence on crypto markets inherent volatility.

Nothing to worry about and there is no need to panic.

You'll lose your money if move according to the trend, it's always better
to observe and keep your your assets being safe.

Those who factors needs to analyze, whales are moving in the different directions
and trying to distract weak traders.
Always have a good plan and don't forget doing your own research and assessments
before dealing to this market.

[Yamifoud]

https://www.coindesk.com/price/bitcoin

The price still waving away from touching $9k, it keeps moving slowly back high again.
But anyway, it was not a thing to worried about even if we get back below $10k because the market will still remain healthy. We are not yet at the bearish season in order to think that we price will fall back down. Not this time and probably not this year.

[TravelMug]

The price still waving away from touching $9k, it keeps moving slowly back high again.
But anyway, it was not a thing to worried about even if we get back below $10k because the market will still remain healthy. We are not yet at the bearish season in order to think that we price will fall back down. Not this time and probably not this year.

Yes, at 5 digits? market is still healthy, but for some they wanted to see the price going parabolic, which is not possible specially in a very volatile market. I wouldn't say that we are in bearish, but there are more fear in the market, as it constantly fluctuates between $10k to $10,300.

Right now the market goes into another sea of red, I thought that we are recovered already. Hard for now to see where the price is going to be as if someone is dragging the price to just $10k price.

[maydna]

Right now the market goes into another sea of red, I thought that we are recovered already. Hard for now to see where the price is going to be as if someone is dragging the price to just $10k price.

We already recovered from $9,900 to $10k again. Now, the price seems stable at $10,200-$10,400, but there is a chance for the price to make a correction again this weekend, so we still need to be careful and prepare the money to buy more. The candle itself showing the red candle after yesterday saw the green candle came to the market, but the situations today are different from yesterday.

I hope that the price will be back to the high price in the next week. But the line of the chart still showing that we still go down for more, no wonder we don't know when the trend will go up.

[plr]

https://www.coindesk.com/price/bitcoin

The price still waving away from touching $9k, it keeps moving slowly back high again.
But anyway, it was not a thing to worried about even if we get back below $10k because the market will still remain healthy. We are not yet at the bearish season in order to think that we price will fall back down. Not this time and probably not this year.

We are fine and moving forward until the huge drop, we are caught by surprised by that sudden drop people are looking for an answer there are so many speculation, I've read the many speculation and they all seems legit or the real causes of the drop.

It seems the climb for another all time high is not going to be this easy because people are going to take easy investing lest they are caught on a big drop, unless they see this this as a big opportunity for future profit.

[pixie85]

Not really bearish if you want to know my thoughts. In the recent months it went from below 9000 dollars to a steady level of 11000. Even after correction to 10000 it's still bullish.

In a bearish scenario it goes up and crashes to a new low. For it to be called bearish we would have to start from 9, go to 11 and drop back to 8.

[btc_angela]

Not really bearish if you want to know my thoughts. In the recent months it went from below 9000 dollars to a steady level of 11000. Even after correction to 10000 it's still bullish.

Others say its bullish because the price goes down hard to even below $10k. But currently, we haven't seen bitcoin as volatile as this again. So we can't say we are bearish, at the same time, not bullish as well. Mad fluctuations.

In a bearish scenario it goes up and crashes to a new low. For it to be called bearish we would have to start from 9, go to 11 and drop back to 8.

This is still healthy sign though, we are still in the 5 digits and that is what important right now. Support are still there and hope that it will stay about $10k and make a imminent positive break out again to $11k-$12k.

[LogitechMouse]

Is btc at its lowest right now or it will still fall near to $9k?

Probably yes?? Probably no. If only I know it with 100% accuracy then I maybe rich now.
My prediction though is I think there is a chance that it will go at around $9000 if it doesn't hold the $10,000 support.

Whales are locking heavily on $9k. What are ur views on it?

If it goes down then good because it gives us another opportunity to accumulate more.

[bbc.reporter]

It might take the S&P 500 to drop below 3000 before bitcoin can drop below $9000, I reckon. Tom Lee said so hehehe.

Compare their charts. They are very much at the highest degree of correlation this year.

Macro is favorable for #Bitcoin  but tough if equities selling off

Source https://twitter.com/fundstrat/status/1301724535268536320

[exstasie]

It might take the S&P 500 to drop below 3000 before bitcoin can drop below $9000, I reckon. Tom Lee said so hehehe.

Compare their charts. They are very much at the highest degree of correlation this year.

Macro is favorable for #Bitcoin  but tough if equities selling off

Source https://twitter.com/fundstrat/status/1301724535268536320

For once, I agree with Tom Lee.

This is a crucial spot. The S&P 500 is still hovering just above the 50-day MA and daily lower BB, and threatening to break below them:



Holding below those levels (for the first time since the April recovery) is going to trigger a big mid-term correction. That will hit BTC hard. The low 3,000s for the S&P 500 and low $9,000s for BTC are obvious support zones but I'm not sure that would be the end of it.

[STT]

Not a bad idea to reference sp500 as a general indicator, 3000 is still an elevated level and we cant really say the market overall is negative just for sell offs that dont build into a larger negative trend.     I'm waiting for BTC to either break above 50 day average or return to the 200 day, everything in between is either indecision or consolidation depending how you want to view it but generally we need to touch base before we move on especially.

[Emitdama]

I do not think bitcoin still remain bearish. When everything is so unexpected, nobody saw the drop coming and we are still not sure what is going on right now. Thankfully price stands for a while right now but "strong buy" is not really the right word I would use right now, I would probably say something more like "probable buy" or something .

That is a little bit more realistic, it is not at strong anything, it is at a mediocre level where I wouldn't be really shocked by people who are getting out because they fear price will go down, but I do understand buying more now because it looks like it might go up back to over 11k once again as well, both of those moves makes sense right now, which means it is not strong anything at the current stage.

[Slow death]

I do not think bitcoin still remain bearish. When everything is so unexpected, nobody saw the drop coming and we are still not sure what is going on right now. Thankfully price stands for a while right now but "strong buy" is not really the right word I would use right now, I would probably say something more like "probable buy" or something .

That is a little bit more realistic, it is not at strong anything, it is at a mediocre level where I wouldn't be really shocked by people who are getting out because they fear price will go down, but I do understand buying more now because it looks like it might go up back to over 11k once again as well, both of those moves makes sense right now, which means it is not strong anything at the current stage.

since January 2018 we have not seen a price higher than $14000 and in the last few months whenever the price reaches $12000 and it cannot increase more, it falls a lot and people are afraid of it and as a result whenever it reaches $10.000 to $12000 people start selling a lot and come back to buy at $8000 or more below, we have been in this cycle for many months now, that's why I have been saying that before we dream about $20,000 we first need to exceed $14000 and stay stable above $14000

[maydna]

I do not think bitcoin still remain bearish. When everything is so unexpected, nobody saw the drop coming and we are still not sure what is going on right now. Thankfully price stands for a while right now but "strong buy" is not really the right word I would use right now, I would probably say something more like "probable buy" or something .

That is a little bit more realistic, it is not at strong anything, it is at a mediocre level where I wouldn't be really shocked by people who are getting out because they fear price will go down, but I do understand buying more now because it looks like it might go up back to over 11k once again as well, both of those moves makes sense right now, which means it is not strong anything at the current stage.

since January 2018 we have not seen a price higher than $14000 and in the last few months whenever the price reaches $12000 and it cannot increase more, it falls a lot and people are afraid of it and as a result whenever it reaches $10.000 to $12000 people start selling a lot and come back to buy at $8000 or more below, we have been in this cycle for many months now, that's why I have been saying that before we dream about $20,000 we first need to exceed $14000 and stay stable above $14000

You are right @Slow death. Breaking $14,000 will need more support, but the difficulty is how bitcoin can break $11k-$13k first because this time, bitcoin down too deep. I still believe that bitcoin will get more power to break $10,500 (this is the first barrier that bitcoin needs to break), then $11k, and so on (which is not easy to break).

Breaking $20k will be a matter of time for bitcoin to break, and even the price is not hit that price this year, we still have more chances to see it's happening next year. Can we wait for that time and have more patience to pass every day to see bitcoin go up and down? I guess that it is not easy to see that.

[ololajulo]

I am doing more research to educate myself in this market, this is not a bear market but we will see regular correction after few pumps. Also the bitcoin dominance is expected to reduce in the bull market, so we might need the education on what to watch and how we study to market movement. For long term traders, the size of profit will be different with the same amount of investment, strategy should be different and risk should be educated. For expected trillion market in next 18 months; we also expect the space to produce many millionaires and billionaires.

[Jating]

Not a bad idea to reference sp500 as a general indicator, 3000 is still an elevated level and we cant really say the market overall is negative just for sell offs that dont build into a larger negative trend.     I'm waiting for BTC to either break above 50 day average or return to the 200 day, everything in between is either indecision or consolidation depending how you want to view it but generally we need to touch base before we move on especially.

I think it's more of a consolidation, we have seen similar patterns in the past, specially in 2019. So we're like indecisive with no imminent break out in either direction. I can't remember, but this is like August 2018 as well, wherein we went on another consolidation phase, two months I think, but I could be wrong.

Well it will remain bearish to me though, unless we break some resistance on the $10600 level or even more to say that we have shifted to a bullish trend. So if we remain on the $10k-$10,300, this is an indication that we are bearish short term.

[carlisle1]

Is btc at its lowest right now or it will still fall near to $9k?
Whales are locking heavily on $9k. What are ur views on it?

I have a Crystal ball and i can see the future price of Bitcoin LOL ,but this is limited for those who really investing in Bitcoin but not for those people that asking and seeking answer but did not even Put any amount to invest in crypto.

if you are a true supporter of Bitcoin or even invested in this then fur sure there are no question like this that will be created by a Holder.

[RealMalatesta]

Tom Lee keeps making up stuff for bitcoin prices that are totally irrelevant, dude once said bitcoin will be 15k when it was 6k (not recently, quite a while ago) and it literally turned away from 14kish levels, just didn't touch 15k and started to go back down and reached 7k by the end of the year.

I can't believe how wrong he can be at sometimes, dude is so wrong that if he told me right now that bitcoin will go to 11k I would sell my coins. I really do not believe him and trust his predictions that much, if he said it would stay around these levels or go anything around 11k-12k I would sell. Obviously he will keep saying that bitcoin will be insanely high, that is who he is, even on the worst days of bitcoin he looks at it and sees buy opportunity which is actually quite nice but not a person to follow suggestions.

[btc_angela]

Tom Lee keeps making up stuff for bitcoin prices that are totally irrelevant, dude once said bitcoin will be 15k when it was 6k (not recently, quite a while ago) and it literally turned away from 14kish levels, just didn't touch 15k and started to go back down and reached 7k by the end of the year.

You have to understand where Tom Lee is coming, he is a managing partner at Fundstrat, so he really needs to give this exorbitant claims, to keep his client. His not only giving crypto bold predictions, but stock as well.

I can't believe how wrong he can be at sometimes, dude is so wrong that if he told me right now that bitcoin will go to 11k I would sell my coins. I really do not believe him and trust his predictions that much, if he said it would stay around these levels or go anything around 11k-12k I would sell. Obviously he will keep saying that bitcoin will be insanely high, that is who he is, even on the worst days of bitcoin he looks at it and sees buy opportunity which is actually quite nice but not a person to follow suggestions.

Of course we shouldn't trust anyone with their prediction, perhaps it could be a good guide for everyone because this guy has a extensive years of experience but it doesn't mean he will be correct. In August he predicted that stocks will have a monstrous rally, but I'm not sure if it happen or not.