Most dangerous Bitcoin monthly closing candle

[JohnBitCo]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

[jackg]

Looking at the last bull market we had 5 successive greens, followed by a red, followed by 3 bigger greens.

I think we could even go slightly red as long as we don't encroach on around half of the previous candle then we can still keep going up from here.

[exstasie]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season.

Use logarithmic scale, not linear. This monthly wick isn't actually that big.

The closest comparison I can find is November 2015. After that monthly candle, the market went sideways for a few months before busting out to the upside again. I suppose that's possible here too.

[Hippocrypto]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

This is more than what we expect from history of 2017, and as far as previous bullrun initiated several altcoins also pump higher that time. Unlike these days, I've only noticed bitcoin Bitcoin surged that enormous price ever of its history, and definitely 2020 is the perfect time of a bull season. Hopefully we will soon experience those predicted value, and I think $50k is possible once gradual increase remains consistent.

[Febo]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

January 2021 candle is about May 2017 candle. That far we are in a bull run. Now you figure out hoe many greens and reds we will have in next half year.  We should have one or two red maybe already next month or maybe even 3 months from now. Then few more greens and bear market.

[error08]

That might a bear trap, just wait for a few days then it will exceed $40k again, this possibility doesn’t hinder the market from testing the support levels.
The last surge from $31k to $38k may be caused by Elon musk after add #bitcoin hashtag on his official Twitter profile, and then the market rejects further upside then corrected to $34k. This retracement indicates the gains may occur in a short time and bullish market sentiment will push the price to climb up.

[magneto]

Bull market is nowhere near over.

If you look at historical trends, the bull market usually lasts around 1-2 years in the year following halving. We have just recently gotten out of an extended bear market, which would suggest that the bullish sentiment would at least continue until the end of the year if historical trends hold up.

Also, if you look at the level of institutional holdings at this moment, it certainly suggests that fundamentals have improved substantially which reduces the amount of market volatility, but also stretches out rallies.

[jjdub7]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

Who believes in candles when we are talking about crypto and speculations?! The last candle, precisely the one shown in the graph, results from Elon Musk's tweet bio and FOMO buyers. Now the price is back to the levels before the tweet.

[haroldtee]

I honestly do not think the bull season has ended yet, I feel we are just starting. A lot has changed since 2018 when the long downtrend started with so many real life use cases, more acceptance even by Financial institutions blah blah. All these things will speak volume! We may have a retrace within the year, but I feel we still have a long way to go to the moon. I wouldn't be surprised if bitcoin market cap hit trillions this year. For all I care anyway, Bitcoin remains in a long term uptrend. One thing for sure is that bull markets don't just last for a month on Bitcoin in the short term.

[LogitechMouse]

Its hard to predict where will Bitcoin is heading in the next month and its obvious that the bulls are still in control of the market.

Even though we have seen a drop in the past weeks from ~$40,000 to ~$33,000 today, I think that it is just normal for a market to make a correction to shake things up. I would be happy if Bitcoin will surge upwards in the next month though but I'm still ready for the worst situation that might happen .

[JohnBitCo]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

Who believes in candles when we are talking about crypto and speculations?! The last candle, precisely the one shown in the graph, results from Elon Musk's tweet bio and FOMO buyers. Now the price is back to the levels before the tweet.

This is a monthly chart and not a daily chart which shows the candle of pump due to elon musk. Although crypto is highly volatile, most of the time the price moves according to the candle sticks pattern. I am still worried about the monthly closing today.

[btc_angela]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

Who believes in candles when we are talking about crypto and speculations?! The last candle, precisely the one shown in the graph, results from Elon Musk's tweet bio and FOMO buyers. Now the price is back to the levels before the tweet.

This is a monthly chart and not a daily chart which shows the candle of pump due to elon musk. Although crypto is highly volatile, most of the time the price moves according to the candle sticks pattern. I am still worried about the monthly closing today.

We will see though, but I'm not going to compare it to 2017 big candle formation though. we are still in the upside and I would say bullish if we close the month in a red candle. What we are seeing might create a new candle formation not relative to past historical logs. The pump from Elon Musk was unexpected and we haven't seen this kind of pump in bitcoin's history that's why the candle suddenly goes up.

[michellee]

I guess the bull market will still continue because bitcoin does not reach the highest price, although $41k is the highest price and the new ATH on this year. Bitcoin price can increase more than the price now and back to $41k soon, and we still have more time to wait for the price to start the rally. But it is not easy to predict when the bitcoin price will get another rally since we do not have the right signal about the time. So we can only wait and accumulating more bitcoin, so when the time comes, we are ready to sell bitcoin at a high price.

[JohnBitCo]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

Who believes in candles when we are talking about crypto and speculations?! The last candle, precisely the one shown in the graph, results from Elon Musk's tweet bio and FOMO buyers. Now the price is back to the levels before the tweet.

This is a monthly chart and not a daily chart which shows the candle of pump due to elon musk. Although crypto is highly volatile, most of the time the price moves according to the candle sticks pattern. I am still worried about the monthly closing today.

We will see though, but I'm not going to compare it to 2017 big candle formation though. we are still in the upside and I would say bullish if we close the month in a red candle. What we are seeing might create a new candle formation not relative to past historical logs. The pump from Elon Musk was unexpected and we haven't seen this kind of pump in bitcoin's history that's why the candle suddenly goes up.

I am not sure why its difficult to understand. The elon mask pumped bitcoin to only 38,000$ but in the month of January we hit 42,000$ (without any elon mask influence) and now back to 33,000$. This big monthly wick is a bearish sign ( i hope i am wrong and we stay in bull market always).

[Lucius]

I am not sure why its difficult to understand. The elon mask pumped bitcoin to only 38,000$ but in the month of January we hit 42,000$ (without any elon mask influence) and now back to 33,000$. This big monthly wick is a bearish sign ( i hope i am wrong and we stay in bull market always).

You (like many others) look at only one small piece of the puzzle, and completely omit the bigger picture. EM is completely irrelevant in this story, it’s a pure coincidence and nothing more - but if people want reasons for every price change, they’re very easy to find.

The current price is a reflection of supply and demand, and those biggest investors like Grayscale stopped investing late last year, while at the moment they are buying significantly less than before. When and if large investors re-engage in the purchase of BTC, prices will surely rise again - and until then we should be satisfied that we have a stable + $30k.

Your hopes for the bull market always are completely unrealistic - there is nothing that only achieves growth without occasional adjustments.

[UnDerDoG81]

November/December 2021 is the time for a huge bullrun. Up until then many bumps and dumps will happen, probably with ATHs and scary lows.

[wxa7115]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

At the end all possibilities are still on the table, while the monthly candle could mean the end of the bull run there is always the possibility the market consolidates during the next months and then we have a strong close on the last two quarters of this year.

I will admit however that as of right now it seems more likely to see a decrease in the price than an upward movement but everything will depend on how the market behaves during the next months, if the price can remain above 30k then we will be in a great position for a renewed bull market.

[hatshepsut93]

The chart already looks bearish, and the institutional buyers understand that too, so if they will stop buying, the $30k support will easily get broken, as institutions will hope to buy Bitcoin at much lower levels, like at $20k and below.

There's no rule that says that Bitcoin's bull markets need to last 1-2 years after the halvenings, and since everyone is so aware of this pattern, the pattern stops working.

[Casdinyard]

But the fact that there's no onsistency in this market, already breaks the assumption that this day will be the last day of the 'bull', simply because the same thing happened on the previous ATH. I do understand the idea. People are just anxious of what happened before wherein many expectations were made back then but the opposite happened. And to mention, bearish market lasted for more than a year which even made some investors to quit this industry just to cut their losses. Those who stayed despite of their losses before have surely redeemed and probably have earned profit on the recent ATH. And this is also the new idea on both bullish and bearish market.

[KTChampions]

Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick    But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?

I would not attach much importance to these "repetitions of history" - if it worked, the market would be completely (or at least 90%) predictable. In fact, no analysis of history (let the fans of technical analysis forgive me) does not provide any knowledge about the future.