Is This Chart Bullish or Bearish?

[sapnu]

Considering the current market trend, I think it would be best if we keep our money for buying on hold and find a good entrance on buying. If we would look at the chart generally, we can see that it is quite bullish but if we would try to analyze the market right now, we all know that it will soon turn to bearish. Bitcoin affects almost every altcoin and once it is the downtrend for bitcoin, it is much expected that altcoins will soon follow. Let us use the current bear market as an opportunity to buy since sooner or later, the market will recover once again and bitcoin might new ATHs.

[Fivestar4everMVP]

Am definitely not an expert in reading charts, but just wanna state what this chart looks like to me .
I think this is a zig zag downtrend chart, shows the coin or alt is going down but pumps a bit and goes down more, a good trader who have taken out time to study this alt and its movement pattern is likely to make some good money trading/riding the wave, that is buying when the coin deeps and sell when it pumps, then wait for the deeper deep to buy more and sell when it pumps again.
Of course dont take me serious, am just stating what i think, am not a crypto trader neither do i have any experience in reading chart, am just an investor. 

[tokeweed]

^  Really?  This chart doesn’t look like it’s breaking out to you?  Cos it def looks like it’s breaking out to me.  And it’s kinda choppy but it looks like it’s also forming a standard cup and handle before another leg up.  What do you guys think?

If it breaks out its January highs, it could go straight to the moon! 

[Impostume]

For now doesn't look bullish neither bearish. Need to break last high to be bullish.

[GreatArkansas]

^  Really?  This chart doesn’t look like it’s breaking out to you?  Cos it def looks like it’s breaking out to me.  And it’s kinda choppy but it looks like it’s also forming a standard cup and handle before another leg up.  What do you guys think?
If it breaks out its January highs, it could go straight to the moon! 
https://i.imgur.com/srhA2vb.jpg

Next time if you will share a chart, it is much better to show also the timeframe. Another piece of advice is also to try looking at different timeframes, it may help you to analyze, not just in 1 timeframe especially if that timeframe is the low timeframe.

Btw for this chart, for me it is showing breakout, the resistance broke out and now that resistance is acting a support which is pretty good.

[Bitstar_coin]

If you see potential in the project why not pick up a handful of it since the price maybe a lot cheaper than what it use to be few weeks back I presume,  maybe nobody can give the exact state of the chart you presented, if about to be bullish or still on down trend, but to me, I feel buying it while it is cheap now won't hurt your wallet much, even of it will dip, it won't be as severe as last few days, just imo, market is highly unpredictable, you never know how fast will be the reversal.

[hd49728]

Next time if you will share a chart, it is much better to show also the timeframe. Another piece of advice is also to try looking at different timeframes, it may help you to analyze, not just in 1 timeframe especially if that timeframe is the low timeframe.

Btw for this chart, for me it is showing breakout, the resistance broke out and now that resistance is acting a support which is pretty good.

It is what tokenweed tried to hide in the unnamed chart. The inverted version of breakout is crash. The chart is the inverted chart of Bitcoin, if I am not missing anything.

Correct me if I am wrong tokenweed.

I agree with Great Arkansas that a full time frame is important. It help to decide that break out or crash is temporarily or a begin of a long trend, bull or bear market.

Bitcoin market can fall more but the bull trend will not be broken with price is hanging around $20,000. It is the important point of full time frame from Great Arkansas.

[sarmrakib]

Ey guys, I need your help.  Here’s a chart of an alt I’m interested in buying but I’m not really sure if it’s starting to look bullish or if it’s down trend continues...  I mean with the whole market being in the red and all.

But just by looking at the chart, without bias, and just by optics or how it looks, is the chart bullish or bearish?



Edit:  I won’t tell you guys the name of the alt for now.  I’ll tell you later.

This pin bar chart clearly shows that its a downtrend .You didn't clear the time frame of the chart .However at the end of the chart i am watching a positive momentum and a good small bullish trend and i think it will continue .Its could be much clear if it is candlestick .However i just actually wanna know the coin name i can tell you much and more than .

[Julien_Olynpic]

This chart looks bullish. Now all altcoins are synchronized in one way or another with bitcoin and repeat its schedule. The topikstarter schedule is also no exception. The graph shows re-accumulation. This is a re-accumulation before going up, that is, before the pump. In my opinion, this is a good entry point. But, of course, the risks of the "black swan" must be taken into account.

[hd49728]

This chart looks bullish. Now all altcoins are synchronized in one way or another with bitcoin and repeat its schedule. The topikstarter schedule is also no exception. The graph shows re-accumulation. This is a re-accumulation before going up, that is, before the pump. In my opinion, this is a good entry point. But, of course, the risks of the "black swan" must be taken into account.

It is bulllish, try to break out but if you think of it as an inverted of a real chart. The inverted trend of bullish is bearish. @tokenweed has never talked what is the asset in this chart and is it a real one or an inverted of a real one.

With bullish, you talked about risks from Black swan events and the invert of it will help the market breaks out from a bearish trend. In 2019, President Xi and his announcement in China help the market broke out.

If this chart is about Bitcoin, what is waiting for us?

[michellee]

Can you tell the name of the altcoin in that chart?
I think it could down for a while and break for the next hours. I guess that chart show monthly, so it could hard to analyze more. I hope there is another timeframe image that can give more information on where the coin will move. The chart looks bullish monthly, but we do not know how the coin will move weekly, daily, hourly, so that will be still hard to say that the coin is in the bullish trend.

[ingiltere]

I wouldn't say it's bullish neither bearish, looks sideways to me and since we don't have timeframe in the chart I wouldn't say downtrend reversal confirmed. Looks more like an accumulation phase, needs more volume (which we also couldn't see from this chart). There is no upper channel forming yet. I would wait for trend reversal confirmation before blindly jump in that coin.

[Cherylstar86]

There's a slight bearish market in this chart from previous days, but looking unto the latest chart update recently I see a positive signs that we're going to experience another price outbreak.
Unexpected times will fall upon every week, and definitely we should be more careful in every actions that we made. Day trading isn't certain for now, so we must be careful now because one day market will be back to green again.

[Johnyz]

There's a slight bearish market in this chart from previous days, but looking unto the latest chart update recently I see a positive signs that we're going to experience another price outbreak.
Unexpected times will fall upon every week, and definitely we should be more careful in every actions that we made. Day trading isn't certain for now, so we must be careful now because one day market will be back to green again.

That’s a bear chart but we are on a different situation now, we have to break the resistance to reverse the trend. We’ve reached $40k again with Bitcoin and that’s a good sign of market reversal, we just have to wait and stay above this level. The market is very volatile that anything can happen, always look at the chart and use this as your guide in buying and selling.

[adaseb]

I at first also assumed it might be bitcoin reversed however when we hit $42K ATH and we came close to retesting this area, in the chart below it didn't come close to the pivot so I knew it wasn't bitcoin.

The chart is basically short term bullish but long term bearish. It had a long downtrend and its time for some upside. It had a failed low and it also breached the prior pivot high and made a new higher high as it bounced.

So most likely it'll go a little higher however it'll eventually run into some resistance and probably start to head back down. If it goes back down it'll probably resume this trend and break to newer and newer lows.

[onecall123]

I wouldn't say it's bullish neither bearish, looks sideways to me and since we don't have timeframe in the chart I wouldn't say downtrend reversal confirmed. Looks more like an accumulation phase, needs more volume (which we also couldn't see from this chart). There is no upper channel forming yet. I would wait for trend reversal confirmation before blindly jump in that coin.

No doubt. we may break the long downtrend but there are some big sell pressure. To me market sentiment looks good, but it's not confirm bullish or bearish clearly. There might be possible dip is coming, those missed out Sunday dip you still have chance to buy. I'm loading up and rest keep my money on hold as I'm sure the price movement not over yet. Let's hope for the best.

[coco23]

So has it been revealed which coin the chart was from? Maybe OP could reveal it now more than 1 month after the original posting. The suspense is killing me

[ancafe]

I think, looking at the chart, the downtrend seems to have stopped, and an uptrend will soon occur. however, depending on the conditions. if there is negative news from the token, the price will be dumped again. however, from the chart that I saw, the price might go up again. Well, I'm just speculating based on the chart, and it looks like it.

[globalpain]

I think, looking at the chart, the downtrend seems to have stopped, and an uptrend will soon occur. however, depending on the conditions. if there is negative news from the token, the price will be dumped again. however, from the chart that I saw, the price might go up again. Well, I'm just speculating based on the chart, and it looks like it.

I quite agree with your opinion and we can also see for ourselves that little by little it goes up,
I don't know if in the near future an uptrend will occur or if the downtrend will continue,
We need to follow the progress so we know what will happen in the future

[slaman29]

I at first also assumed it might be bitcoin reversed however when we hit $42K ATH and we came close to retesting this area, in the chart below it didn't come close to the pivot so I knew it wasn't bitcoin.

The chart is basically short term bullish but long term bearish. It had a long downtrend and its time for some upside. It had a failed low and it also breached the prior pivot high and made a new higher high as it bounced.

So most likely it'll go a little higher however it'll eventually run into some resistance and probably start to head back down. If it goes back down it'll probably resume this trend and break to newer and newer lows.

Unfortunately I have to agree to a point. short term bullish because of some corrections and of course you-know-who giving some stupid hope to speculators, but the medium term of months does look like it could drop below again if 45k isn't met this month.

Long-term is still bullish though I'd say, but this is talking about next couple of years. I can't see below 30k as new support otherwise prepare for worse.