Bullish or Bearish?

[forestx]

The chart is bullish and might be for a few more months however lately with everything going on with DeFI, Doge, BSC Chain, TikTok kids turning $100 into $10 million. It really makes it seem we are near the end of the bull market, at least for non-bitcoin pairs. There is just way too many people making money these days.

Usually when you hear about bitcoin almost everyday in your daily life. Always some co-worker or some person on the street talking about it. It usually means we are near the top. Look at how high leverage the futures market is. We had a dip and over $10B was liquidated almost instantely and we still have an OI over >$20B.

Lots of money is still pouring in, tether prints in the Billions happening every few days here and there.

what ticktock kids and how do I get in on act
Obviously I know amount doge and did manage to earn on it but I am unaware of other such coins or how to hear about such things

[jaberwock]

If we compare with the situations the last year, this year bring a good time for bitcoin to have a bullish trend because the price can reach $40k-$60k, although the price now is struggling to break $50k-$51k. Now, the price can back to $50k, and hopefully, it gives a chance for bitcoin to increase and back to $55k. But we need to have patience because no guarantee to see the price can back to the higher price, so we need to be careful.

Yeah, we are still in bullish wave and markets is right now gathering power to go beyond $65k levels hence we were into this kind of pull back. Usually when upper side resistance are too strong then market will go back to make weak hands to get panic this way resistance levels will get weakened.

In my opinion, this correction is necessary one because market moves ups and downs it will create opportunities for all kind of people whereas having continuous bull only big players could avail all such opportunities. Basically markets reacts as per its basics but only speculators are getting panic unnecessarily.

[maydna]

~snip~

Yeah, we are still in bullish wave and markets is right now gathering power to go beyond $65k levels hence we were into this kind of pull back. Usually when upper side resistance are too strong then market will go back to make weak hands to get panic this way resistance levels will get weakened.

In my opinion, this correction is necessary one because market moves ups and downs it will create opportunities for all kind of people whereas having continuous bull only big players could avail all such opportunities. Basically markets reacts as per its basics but only speculators are getting panic unnecessarily.

The weak hands will be panic when they see the price going down fast, and they will prevent the big loss by selling their bitcoin before the price touch the lowest price. I don't know what is in their mind, but perhaps, they want to buy back Bitcoin at the lowest price by selling their bitcoin first, so they have the money to buy back more bitcoin.

Yes, I agree with you that correction is necessary because that can give many people who want to join in bitcoin to buy at a low price while the others can still hold or sell their bitcoin to buy back again at the lower price. But as long as we don't panic, we can handle every situation in the market.

[blckhawk]

For anyone who saw the chart that OP provided like me then I would say that perhaps it is about to enter the bear trend because of sliding down lines. Anyway, I believed the dip we are having now is just a deep correction, this would cause panic for weak hands of course but this will be an opportunity for others to take buy it back. This has already happened before and will surely happen again. It is just like Bitcoin was charging up for it to break its current ATH. There's nothing to worry about perhaps after a few days or weeks it will recover soon.

[blue_nexus15]

Personally I don't know if it will be bullish or bearish but this damn situation has been hurting me for the past week.  Trends are difficult to predict.  Countless friends of mine felt shy and confused about this situation.  They cut their losses and locked USDT in a safe.  Personally, I still can't stop, because the uniformity between the rhythms of the day makes me wonder and still hold!

[slapper]

It depends on many factors but as a trend trader, I will say it depends on the timeframe. For example, m15, m30, h1 show the same sight that bitcoin is in a sideway zone while h4 clearly demonstrates the downtrend of bitcoin. The situation is far worse in D1 chart because bitcoin is currently out of its zone. However, W1 seems quite confident in the uptrend although it seems that bitcoin is gonna reverse. Why? Because of the current strength of the trends.

Well, IMO, buying is good. Bitcoin is quite cheap at this moment and most of trading activities in the past hours are around $50000, which means people are accumulating bitcoin at this point and stop bitcoin from falling even deeper. This is a good sign of bullish but does not totally exclude the another sell-off. IF I were you, I would buy 40% of my portfolio for bitcoin, using 1:4 leverage. 60% is for the worst case scenario

[LUCKMCFLY]

I think it will be Bullish, because although it has fallen almost 25%, it is expected to continue falling even more, at least to 35%, this fall is normal, natural according to Peter Brandt, but now PlanB says that this will not be the last Once it will reach an ATH in 2021, think that depending on how the movements of Bitcoin go, it can fall up to 50%, but the next bullish momentum will be decisive:

Should bitcoin be indeed halfway through its bull cycle now, then the asset could be heading towards the price targets of the stock-to-flow cross-asset model. Aside from looking at the “stock” as the size of existing BTC reserves (or stockpiles) and the flow – the annual supply of new bitcoins, the upgraded version of the model examines the different phases the asset has gone through since 2009.

Source: https://cryptopotato.com/this-was-not-the-top-of-bitcoins-2021-bull-run-according-to-planb/

There are many things for which PlanB is based on giving its forecast and does not give up the idea that Bitcoin can reach $ 288k.

[hatshepsut93]

Bitcoin's growth has slowed down in the past months, so MA-based indicators are turning bearish now. We are currently trading at levels of 99d MA, and the Pi Top indicators suggests that we have passed the top of this cycle. But maybe it's all just a stop on the long road to 6 figures, because this chart doesn't look the same as the previous endings of bull market - there was no huge upward candle followed by instant crash.

Everyone should keep in mind that there are no strong rules on this market, yesterday's patterns are not guaranteed to repeat today.

[Silberman]

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.

I think the same, it is surprising to me how quickly people forget about something that happened not so long ago, the 10k level was incredibly difficult to break and we were there for months until we made a clean break up, and it was not until the 50k level when we found a resistance, I think the same is happening here, we are going to remain close to the 50k level for months, some people will get discouraged because of this but this will help the whales to accumulate even more bitcoin and we will see a huge increase in the price close to the end of the year once they are satisfied with the amount of coins they have accumulated.

[DU18]

Personally I don't know if it will be bullish or bearish but this damn situation has been hurting me for the past week.  Trends are difficult to predict.  Countless friends of mine felt shy and confused about this situation.  They cut their losses and locked USDT in a safe.  Personally, I still can't stop, because the uniformity between the rhythms of the day makes me wonder and still hold!

In my opinion, the decline in the price of a number of crypto assets towards the end of April is a common thing and it is likely that the price decline will occur due to the policy taken by the president of the United States and I think the price decline that occurs due to issues like this will not last long and will return experienced a price increase, so we don't need to worry too much because so far a drastic decline like this happened when the Chinese government announced a ban on crypto assets in their country and a week later there was news that China started creating their own digital currency and consequently pushed the price of bitcoin and crypto others rose rapidly.

[karanggatak]

I think we are currently correcting because of the current fud, bitcoin this year has not yet reached its highest price peak, bad news will pass soon and good news will appear soon so bitcoin will be bullish again.
As investors, the most important thing is that we must have to be strong for HODL, because if you are able to HODL you will be rich    keep HODL everybody  

[sulendra12]

I would say we are still on bullish period.
My main concern is this kind of candlestick pattern, where it has 3 small green candlesticks consecutively.



If you are familiar with the common candlestick pattern, then you will see that kind of pattern in almost all of the pre-bullish event on market. But don't take this too seriously tho, the market probably would change unexpectedly during this season.

[franky1]

anyone can take a snippit of 1 day or 1 week and scream bear..
but sorry.. zoom out.
a true bear is not a day-week. its a 3month-12month thing

these daily/weekly dips are just corrections
dont think bull and bear when zooming in on 1day-1week. call it calve-cub market

[serjent05]

It is too early to say the Bitcoin market has turned bearish. If we look at the chart since January, all we can see is just a correction or what we called a higher low, which is natural during the bullish season.  The market needs to refresh/retrace once in a while in order to open a window for a newcomer to come in and then record a new higher high.

[Ararbermas]

For me in my view its still at the downtrend because there's always a false break out in the growth rate and seems gonna continue doing the same movement before this month end wherein as its showing like have no enough support to hold when it fluctuate.. This is very alarming actually. And for sure ppl will keep dumping if this situation becomes stagnant in my own opinion.