Overview of the Market

[GeorgeJohn]

For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.

We have to understand this concept, that whenever people think that bitcoin price will increase it's not the time the price goes up, so looking at the chart and conclude that price will come up any moment from now i think is not a real helping hands to detect when the price will come up, from my perspective I don't value assumptions any more, what i consider immensely is the market dominations or dominance, it's marketcap that decides the increment of bitcoin price via the level of demands and the level of supply, so from this scenario if the supplies is at higher advantage, i think it really affects the movement of bitcoin price.

[traderethereum]

For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.

This hour, bitcoin back to $33,400-$33,500, which is another correction and the price can get down below $33k if people panic.
If you check the trend daily, you will see the line seems to want to go down but if support can resist, the price will not go down for more.
Hourly and 30 minutes time frame does not give much info, but 15 minutes time frame shows the price want to increase.
However, that will be a prediction as the market is hard to predict accurately.

[Lorence.xD]

I'm not sure about the bull market's coming soon again. Because it doesn't seem like it to me. It seems like it will continue to get stuck between levels you indicated for a long time. By saying a long time, I mean that it could last even until the end of the summer. After that, things may start changing and we may start seeing bullish movements again.

I don't think that bull run was already over in my opinion, yes the prices did go down almost half of the ATH but I don't think that it's not that big of a drop. Hopefully though, we can see some big movement that might push bitcoin to a much higher point than the previous ATH and hopefully it will be by the end of the year.

[Ziskinberg]

For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.

I can't believe that the market would able to rebound after Bitcoin reach below $30k because I thought it could be the beginning of the bear market but very fortunate that it rise back and stay in the $32k-$35k price range. However, I was not confident that we could make another huge market rally like we experience early this year but nor to see we could be in deep once again.

As long as the market demand and supply keep on the current momentum, even FUDS couldn't affect the market.

[BrewMaster]

the range in which bitcoin goes up and down has been shrinking drastically over the past couple of days. it is not between $33k and $35k which is usually less than 5% and decreasing.
this is a good sign because over this same period there has been a ton of very large dumps and as we can see the price doesn't want to make any move whatsoever.
if things continue like this and the support holds we can expect a big rise next week.

[buwaytress]

I'm not sure about the bull market's coming soon again. Because it doesn't seem like it to me. It seems like it will continue to get stuck between levels you indicated for a long time. By saying a long time, I mean that it could last even until the end of the summer. After that, things may start changing and we may start seeing bullish movements again.

I don't think that bull run was already over in my opinion, yes the prices did go down almost half of the ATH but I don't think that it's not that big of a drop. Hopefully though, we can see some big movement that might push bitcoin to a much higher point than the previous ATH and hopefully it will be by the end of the year.

When you've experienced drawbacks of over 80% from peaks, then you just shrug off these levels as normal. Crazy to say in a "regular/typical" market perhaps, that 50% off the recent peak isn't a bear, but that's Bitcoin for you. Volatile is part and parcel of its definition, and we've all seen too often how 100% growth can happen very quickly, often without the need for reason, and often with the tiniest spark of momentum.

So it's still too early to say how things will turn out. Resistance repeatedly failed is bearish, but support repeatedly holding is equally bullish.

[Hippocrypto]

For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.

This is now establishing a strong pillars in preparation of second wave, before expected ATH comes. The hardships that we're facing nowadays isn't that worst if we compare it with previous bearish years. If there's a potential rebounds I am curious how it could take for us to wait, but in for the first attempt the market will have to struggle reaching towards $50k at first breakaway.

[Erdogan]

For the previous few days, Bitcoin has been stabilising between $31,000 and $40.000. The bulls are presently trying a rebound after the bears failed to keep the price below the range's support. The relative strength index's positive divergence suggests that bullish momentum is building.

Personally, I am very positive about the future of cryptocurrencies, but the coming weeks are very risky. Unfortunately, there are many negative situations that have emerged recently that may turn the current correction into a long-term bear market. Of course, I don't want that, but the incoming negative news from the world it can be possible.

[Fundamentals Of]

Bitcoin's price has been rising and falling within the $30,000 to $40,000 range for the past couple of months almost. That's a wide range but considering how Bitcoin has been creating large movements for the past months, the recent weeks are considerably stagnant. If we monitor the news and the FUD, it seems we're not lacking of catalysts that should have pushed the price up. Furthermore, the FUD has died down already. So I agree that we're currently building momentum. There's something bigger in store very soon.

[adaseb]

We all know that trading Bitcoin is safer than most alts. However keep in mind that the profits won’t be as high as say some low cap coin like Shiba.

Look at how much money people on Tiktok or Robinhood made trading Doge. I think most bought in the 5 cent range after it peaked at 9 cents after Elon’s tweets and right before it went to 72 cents before his SNL appearance. What is 72/5 about 14x of gains. If you bought BTC before it broke $20K you would of made about 3x in gains.

So there is a reason why many people buy these low cap alt coins because the profits are much larger.