Bearish movement on the way?

[PercT4b]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

[Yamifoud]

I can't compare the market to the previous years, and I'm neither going to look back instead of seeing the future. Why? Because I don't believe that history repeats itself.
It was so notifying that the market adoption increasing, the market demand continues to improve, and most likely, many had already known and use crypto this time. I ain't see that we are in the bear season because if we try to look at the market prices, they are still high and enough to be called bullish. 

yes, the bearish season will come sooner but I think it comes in a different way, and I never think it is the same as what happens before.

[xSkylarx]

There are many resistance above $36k and volume is also low to make a reveral to bullish sentiment but when it goes below to $35k it quickly bounces in just a short amount of time. Market is very undecided since Elon's tweet about the environmental issue of bitcoin.  If we continue to breakdown, we could see $25k or even $20k soon. I don't know what type of people are selling these past few weeks that it dropped 50% quickly. Miners and institutions still accumulate and haven't sold yet so what really caused this sell-off bothers me.

[michellee]

The situation now is different and even if you found the "almost" same pattern in 2018, that can be different and hopefully, the bearish will not come. And if the bearish trend still comes, hopefully, that will not go down too deep because that can make a mass panic, especially if the price is down below $30k.

We can just prepare and wait for what will happen later, so I hope that even the price is down for a little, the price will increase back and break $36k. It seems the price can not break $36k-$37k.

[Furious 7]

I only saw what happened in history and followed the flow where bitcoin was bearish with very bad times but I also never compared it, it will happen again and obviously this will be different every year where bitcoin moves in a different way, well we'll see if the trend is bearish will continue to be sustainable because of FUD? obviously it's still confusing but i see the price is now pretty strong $36k and we can only redeem $40k to go on and on, but what can we see some people continue to destroy the bitcoin price I don't know what to think it's clear they want to buy low while this community remains high.

[palle11]

Miners and institutions still accumulate and haven't sold yet so what really caused this sell-off bothers me.

With the different dynamic of the current market compared to 2018 drop, these two category of investors are what would make the difference because they believe in the technology of blockchain but the little investors are those setting up sell orders because of fear. Usually, fear is what causes further drop in price. The price has been hanging at $35,000 and $36,000 but if further bear begins to happen, that will be because of fear for waiting for bull which isn't coming up as quick as expected. Again, Elon musk has caused more bear to the market with his tweet that caused great drop in price of bitcoin.

[Ararbermas]

Alot of people here always make a comparison of bitcoin history when market struggling wherein they're always looking for an issue just to have a topic and to gain opinion from others even though despite they are not really sure about it as well.
No offence mate but it's hard to understand that bitcoin now had a good improvement since 2018 so how comes it will repeat history? Just imagine almost 3 years and it will repeat the history, even we say it's possible to happen why 2018? I'm wondering.

[MusaMohamed]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Look at the bigger picture with weekly candles. The bull trend will not be broken even if the price falls to $20,000. I am not calling for $20,000 but it is possible bottom of Bitcoin in this correction. Several months after May 2021, Bitcoin can make us surprised with its new all time high.

If history of 2018 repeats in 2021, Bitcoin can drop to $20,000.

Alot of people here always make a comparison of bitcoin history when market struggling wherein they're always looking for an issue just to have a topic and to gain opinion from others even though despite they are not really sure about it as well.
No offence mate but it's hard to understand that bitcoin now had a good improvement since 2018 so how comes it will repeat history? Just imagine almost 3 years and it will repeat the history, even we say it's possible to happen why 2018? I'm wondering.

It can be compared with 2013 bull run with double tops. I don't see similarity of 2017 bull run and 2021 bull run.

[SaShiRaJaVu]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

We do not have a lot of history to check whether these formation will give you the same results, in short the data available is not that great to plot these patters and make a conclusive study. I can very well tell that this time around there are a huge number of institutional investors who were pumping money for a long time and the market depends upon how they are going to view the market, if they are once again investing heavily then the market will rally if not if they plan on booking their profit then what you said will be true.

[Hamphser]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Take your own action basing up with your own analysis because not all people would really be following on someones calls even though analysis is really showing it because majority does know that there no such thing about precise prediction.

If you do look some patterns which would be the same on that 2018-2020 bearish market then do things on what you do seem right but of course
it wont really be precise no matter what.

Securing your position or selling out while its early before bearish market comes or would simply just be ignored.

[Yaunfitda]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

Well, it's not just you that are worried, too early to see the bearish sign, but let's just be optimistic and hope that in the next quarter or two, the price will somewhat recover and hit a new all time high.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Yes, everything here is interesting because the market is fairly young and we will see a lot of similar patterns. But it doesn't mean it will hold true though. Again, we have a long way to go till the end of the year to gauge if we really in bear market or not.

[pooya87]

If it were bearish then price should have fallen down below $30k by now instead of testing the bottom over an over again while setting higher lows and keep going back towards $40k testing the resistance again.

Also comparing this with 2018 is naive. 2018 was the product of a gigantic bubble that had to burst and lead to a very long bear market as the last step of the 4 year cycle. While this low price is just the product a large scale FUD campaign attacking bitcoin to push its price down despite the bull market.

[MusaMohamed]

If it were bearish then price should have fallen down below $30k by now instead of testing the bottom over an over again while setting higher lows and keep going back towards $40k testing the resistance again.

Also comparing this with 2018 is naive. 2018 was the product of a gigantic bubble that had to burst and lead to a very long bear market as the last step of the 4 year cycle. While this low price is just the product a large scale FUD campaign attacking bitcoin to push its price down despite the bull market.

Bitcoin did not go main stream in 2017 and 2018 but it did in 2020 and 2021. It will continue with this trend and naturally it will not stop.

FUD campaigns are used with bull market to give corrections opportunities to appear. People will have to familiarize with FUD campaign if they are Bitcoin investors. Lastly the four year cycle would be 2021 not 2020 and it has passed only half of 2021.

[OgNasty]

Bitcoin needs a wall of worry in order to climb the price. One thing we were missing was bears and it seems like we are now starting to collect a few of those. Once more people are bullish and putting in shorts we might be able to squeeze them and see a rocket to the moon. With countries accepting it now, $200K is really just a matter of time.

[maydna]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

The history will repeat, but with a different scenario. The bear and the bull will always come back to the market, but the situation will be different than before. Perhaps, what you saw in 2018 can happen again this year or next year, but the difference is bitcoin price will not be at the same price.

Perhaps, the pattern will be almost the same, and you can think that the thing will happen again. But I am not sure if the following situation will be the same as before, we really don't know, but we can predict and speculate for that. If you are not sure, it is better not to enter the market and watch the price movement to know when you can enter the market later.

[passwordnow]

Quite evident that BTC chart plots a flag pattern after a strong dump, not really a bullish signal and this worries me a little bit.

P.S: I took a look at the 2018 run, I've noticed that a very similar triangular formation was been plotted, followed by another bearish movement; I know that history doesn't necessarily repeats itself on this market, but I still found this interesting

Don't worry. If you've been on the market and witnessed the 2018 bearish run, this time it's a better run that you shouldn't worry about. The 2018 bear market was totally low compare to what we have. There's only around 50% of the total drop from the last ATH that we've met unlike on 2018, it's more than that. And the price was too low compare today. We're already familiarize with the market but if you're long term, you don't have to worry with all of it.

[btc_angela]

Seems that the price has fallen to $32k right now. I was thinking that it was due to the news that DoJ has somewhat break or seized the bitcoin that has been paid to the Colonial Pipeline hackers that's why the sudden free fall again.

In any case, before this we are already in the bearish trend, but we don't need to panic or worry. Again, this might just be a big test for us, so just HODL, we are not losing any if we are not going to sell.

[davis196]

Something created panic selling on the market,and the lack of buyers caused the price to go down.
There aren't many bullish signals on the market lately,so every bearish signal creates insecurity and pressure,among the traders that have weak hands.It doesn't matter how insignificant the bearish signal is.
I don't believe that the news about the seized Bitcoins from the Colonial ransomware hackers created panic on the market,but it seems that this news have some impact over the Bitcoin price.

[buwaytress]

So if this is the 2018 run come early, then we can see another super rally in three years, which is 2024? Sounds like the cycle aligning closely to the halving for sure. Bring it on, laddies.

Something created panic selling on the market,and the lack of buyers caused the price to go down.

Or maybe just more people selling than buying, like a normal reason for a market to go down. If you weren't able to hoard at opportune prices, then your prayers have been answered.

We should all be pleased!

[proudhon]

We've literally been in the bearish movement for weeks. The bull market is over, and there will never be a recovery. This is THE bear market.