Bullish or Bearish?

[tokeweed]

I’m not really sure where to start the thread but I guess the BTC specuation section is as good as any.  Anyway...  I really need your honest opinion guys..  Thanks.

[Dave1]

I still think that we are in a bullish phase, just unfortunate that there are a lot of negative news plus FUD in the last week that pulled the price to nearly $50k again. But since everything has settled down, this is another period of accumulation and or sideways tradings.

Definitely, the bears doesn't have the control of the market, the bulls might just be resting or at least the herd. I'm expecting that we can jump to $60k again.

[tokeweed]

^  I’m talking about the chart I posted.  I feel like it’s starting to come around and start going on an uptrend after going down for a couple of months or so.

And I’m not asking for a thorough analysis guys..  Just what you think when you look at the chart.  Thanks.

[FanEagle]

I’m not asking for a thorough analysis guys..  Just what you think when you look at the chart.

This chart is missing both price levels and time and more importantly time duration of each candle; overall by looking into the chart anyone will conclude it is a bearish trend.

Is this bitcoin chart? Lol finally I got doubts on that as well. (Just made sure, today is 20 days past for such try).

When the previous high price levels are yet to be broken, any short tern rise up cannot be considered as trend reversal so bitcoin is falling down from ATH of $62k along with few pull backs periodically.

[Becky666]

<snip>

And I’m not asking for a thorough analysis guys..  Just what you think when you look at the chart.  Thanks.

If truly this chart is that of current bitcoin price chart, then, we are into bearish mode for the now, the chart indicated a slipping downward movement after the last candle-stick or few. You also check the shoulder level of this chart for verification.

[JimboToronto]

I feel like it’s starting to come around and start going on an uptrend after going down for a couple of months or so.

What are you talking about?

Bitcoin has hit a new ATH every month this year.

There's no reason for that to stop now.

Start an uptrend?

[tokeweed]

^  I’m talking about the chart I showed.  And yes, it’s some sort of test just to see what you guys think.

I’m not asking for a thorough analysis guys..  Just what you think when you look at the chart.

This chart is missing both price levels and time and more importantly time duration of each candle; overall by looking into the chart anyone will conclude it is a bearish trend.

It’s a daily chart spanning around 6 months or so.  Just by the looks of it...  Does it look like the trend going down is starting to slow down a bit or do you think there’s more coming?  

I see 5 peeps voted that it’s bullish.  Post why guys.

[JimboToronto]

It’s a daily chart spanning around 6 months or so.

It's upside down (flipped vertically).

[pixie85]

^  I’m talking about the chart I showed.  And yes, it’s some sort of test just to see what you guys think.

What is that chart you showed? Lat 3 days hourly? Who cares about a day or two in an uptrend that takes months to unfold?



Do you know what this is? Do you think the chart is bullish or bearish in this picture?
You'll probably say bearish because every day the price is lower.

This is hourly chart showing April 6 to April 9, a few days before we reached new ATH.

[Mahanton]

Based up on that chart above then its really hard to tell if there would be some reversal.I dont know on what timeframe is this because when making out some
charting or indicators then i do always look for bias between timeframes where i can draw out my own indicators and make out proper analysis with that.
For now the price is hovering and playing around 55k or 56k and moving sideways after that sudden drop.Based on my observation that this is the
solid support that we do have now, for those who can take risk on buying out then this will be a good time to do so.

[justdimin]

I’m not really sure where to start the thread but I guess the BTC specuation section is as good as any.  Anyway...  I really need your honest opinion guys..  Thanks.

I do not look at these charts to say if I am bullish or bearish. You may think a bit short term and say that maybe it could be bearish, it is all about if you see it as a good chart to sell right now, however I do not care about short term. Look at what bitcoin represents and you will have a chance to actually end up with something that will matter, do you think that it will worth something in the near future? Or do you think it will not? Do you think it will worth a lot in 5 years? In 10 years? I believe in the long run it is going to worth so much more, it can easily x10 in ten years, that is what I am looking at.

In 10 years I can save hopefully another 20-30 thousand dollars, and if that money somehow does x5 as well, that will be a good base amount of money to retire, having 100-150k dollars to retire is a good amount of money for me and it will allow me to have fun rest of my life.

[tbterryboy]

<snip>

And I’m not asking for a thorough analysis guys..  Just what you think when you look at the chart.  Thanks.

If truly this chart is that of current bitcoin price chart, then, we are into bearish mode for the now, the chart indicated a slipping downward movement after the last candle-stick or few. You also check the shoulder level of this chart for verification.

Bearish? Already? I mean not already is it bearish, because for me it is not bearish at all. I just mean, did really a 10% drop made you think that it is already bearish? Don't you think bitcoin and altcoins should drop significantly more in order to call it bearish? I would say at least a 50% fall is required for me to call it bearish, obviously I will call it along the way as well but it needs to be keep dropping to that place without too much break in between.

Right now it looks like it has taken a loooong break and we do not know if it will go up or down from here, if you are not sure if it can go up from here, that means it is not bearish. We can call it "not bullish" and that would be perfect for it, but honestly it is not alright to call it bearish just yet to me.

[DeathAngel]

We’ve been cooling off for a significant period now, I think a big move up is coming soon. We had an ATH at $64,000, we dumped hard but found support. We are in a consolidation phase, a breakout is coming soon.

[samcrypto]

It’s a daily chart spanning around 6 months or so.

It's upside down (flipped vertically).

That’s a sideways trend since we stabilize at the range of $50k to $60k which the next trend is still undefined. We have to break the resistance or support level on confirm the trend but as I can see right now, bearish are winning and it might confirm soon.

Its good to analyze the price trend of Bitcoin so you can know what to do next, use the indicators to satisfy your chart analysis and do the necessary move that you have to do, either to buy or to sell, that’s your call.

[Ridwan Fauzi]

Falling wedge pattern, right? Usually if the chart make a falling wedge pattern the signal that will get is the increasing price movement.

More than that, the last candle stick that will be formed will be green and it is enough to believe that the price will goes up. That is just technical analyst, you may need to compare with the fundamental factor.

[magneto]

Right now I'm still incredibly bullish.

The fundamentals are still all there. People are just panicking at the moment because of a short run dump. Nothing that we haven't seen before.

Institutional players are going to provide a stabilising effect given that they are not as prone to the mood swings due to sentiment shifts. Firms like TSLA, MSTR etc. aren't just going to all of a sudden cull their holdings by a significant amount - to do that would be shooting themselves in the foot, as the news of their sell-off would likely inspire a bearish reaction that would depreciate their own holdings.

[Baofeng]

Of course, if you look at the chart then we can say that it bearish already, it's going down obviously. But the chart doesn't represent the whole though, it might be the 4 hour chart so it's not accurately depicting how bullish we are since January.

ATH every month, followed by a month dip of 20% or more due to several factors, like the bitcoin future expirations.

[arwin100]

We are still in a bullish trend, and Bitcoin will recovery as soon as possible, some people misunderstanding about bullish, they think the price always pumping, but in the fact in a bullish trend, dumping will happen too

If you see Bitcoin dump, don't worry about it, just buy it and hold, we are still in April and December or January Bitcoin will in at peak price, if the scenario repeated

Not at the moment since we are keep dumping so it tells that we are in bearish trend right now maybe we can see a little recovery but still the price is sliding down. But who knows maybe in next month we can see the recovery phase of bitcoin and the bull hit again in the market.

The prediction to reach certain price still there so we assume that we cannoy see those huge dumps the same as before.

[TravelMug]

^  I’m talking about the chart I posted.  I feel like it’s starting to come around and start going on an uptrend after going down for a couple of months or so.

You cannot just post a chart and ask people around if it is bearish or bullish because obviously patterns changes. So if that chart? looks bearish because of the falling wedges, but if you are going to take a closer look it might change to very bullish for all we know.

So I will echo the sentiments of most posters, I will definitely remain bullish despite some dip that we have seen recently.

[pooya87]

is the chart bullish or bearish?

This chart is nothing because it has no time-frame and no values on it. It doesn't even have a title indicating what asset this chart belongs to, we are assuming this is bitcoin since this is bitcoin speculation board.
You can't decide if the market is bullish or bearish based on this zoomed in chart!

It’s a daily chart spanning around 6 months or so.

THIS is the daily chart spanning around 6 months or so not the one you posted, and THIS is bullish, and a very healthy one at that too: