Is Bitcoin Bullish At The Moment

[Tessnik]

As bitcoin price rise to  $42,954, which shows a bullish momentum as the market has hard a long time of correctional stage before breaking the $42k bench mark, just like I analysed last week am predicting a $45k bitcoin before the end of this week.

What are your takes on this?

[germsite]

As bitcoin price rise to  $42,954, which shows a bullish momentum as the market has hard a long time of correctional stage before breaking the $42k bench mark, just like I analysed last week am predicting a $45k bitcoin before the end of this week.

What are your takes on this?

I am just asking myself whether you have ever been into any kind of markets before. How many assets do you know about that went up by over 50% within the matter of weeks, and up by hundreds of percentage points within a matter of months, and up by thousands of percentage points within a matter of a couple of years?

Is Bitcoin bullish? Give it a guess maybe!

[jackg]

If bitcoin is following it's last trajectory, I think we'll be back to break through 60k quite soon (within a few months).

I think $44k was strong resistance on the way down and it'll probably be strong on the way up, but the longer we stay around here, the more potential we have to break through it.

I am just asking myself whether you have ever been into any kind of markets before. How many assets do you know about that went up by over 50% within the matter of weeks, and up by hundreds of percentage points within a matter of months, and up by thousands of percentage points within a matter of a couple of years?

Is Bitcoin bullish? Give it a guess maybe!

Yeah bitcoin is yet to close a month sold - below 50 - on the RSI via coinbase (since being listed back in 2013 at least)...

A lot of tech stocks have done like bitcoin and are still quite strong - at least stocks like amazon and Google.

[Kusman]

I think this is nothing different than a bull run. Bitcoin price is still climbing and it has reached $43.2k today. And the market is all green right now. It seems to me like this bull run or good rally will continue for a long time. Bitcoin price got stuck at $30k for a long time period and now it's time to witness a huge increase.

[Slow death]

for us to be optimistic it is necessary that in my opinion:

1 - the price can stay above $42400 (this support is strong)

2 - in case the price does not manage to stay above then the price must not fall below $41200 to $40800

3 - if the price goes above $45000 then it will easily be back to $60000 in the next few months

[Oasisman]

$45,000 is considered the strong resistance level. When Btc breaks through it, Btc might continue the upward momentum and have the chance to stay at $50,000 level.
Though I don't really consider Bitcoin entered the bearish market after the ATH decline because $30,000 is still high compared last year but absolutely low from the last ATH. So, I kinda something in between and I call it a little bullish.

 

[Viscore]

$45,000 is considered the strong resistance level. When Btc breaks through it, Btc might continue the upward momentum and have the chance to stay at $50,000 level.
Though I don't really consider Bitcoin entered the bearish market after the ATH decline because $30,000 is still high compared last year but absolutely low from the last ATH. So, I kinda something in between and I call it a little bullish.

 

Bitcoin is closely reaching to its strong resistance level at $45k with the current price of $42,599. I will call this a bullish one already since its never really fall into a real dump from the last few days. And looking with the good market condition, bitcoin will be heading into a more expensive price if positive news will come in the market and not just rumors that will only hype the coin. I think the market is easily affected with social media news and its one of the basis really why bitcoin will continue to be bullish.

[blockman]

Let's all assume that it's a yes but also don't be too caught with it and still think that it could be a trap. But basically with such pumps that we see, you'll have to wait until it validates that it's already bullish again. What we're seeing is the typical Bitcoin that we're having, the very usual moves that we get to see from bitcoin from time to time so there's nothing really new if we see bitcoin jump from $42k to $50k in an instant because that's how bitcoin really moves with its true nature and volatility.

[Hippocrypto]

As bitcoin price rise to  $42,954, which shows a bullish momentum as the market has hard a long time of correctional stage before breaking the $42k bench mark, just like I analysed last week am predicting a $45k bitcoin before the end of this week.

What are your takes on this?

Let's be cautious about this recent progression of btc price, there could be another saturation that's fearing to happen anytime within 24 hours. Hopefully on that $45k we will able to survive until it's not yet coming to reality. Many have said that it's the breaking point before bullish market will initiate. Meanwhile let's remain calm and continue to monitor every changes of crypto market.

[Hypnosis00]

As bitcoin price rise to  $42,954, which shows a bullish momentum as the market has hard a long time of correctional stage before breaking the $42k bench mark, just like I analysed last week am predicting a $45k bitcoin before the end of this week.

What are your takes on this?

Just to felt it and it rising slowly after all. This will be the effect after the Amazon fake news, I was truly amazed at the situation but this will not buy me out to think that ATH is possible but to think about the bull trap.

Well, $45k is close at reach but if we are talking for another ATH, I don't think so.
Now, I could really be saying that we can't tell history repeats itself, thinking what happens in 2018 after the 2017 Bullrun. It is far different and maybe it is because of the adoption and the number of users and investors are also increasing. 

[ninabobo]

Bitcoin had been down for long now, and has break out from the low prices it was for over two months, this clearly shows bitcoin is bullish and will keep pushing, it crossed the death cross and showed a bearish season incoming but that never happened after it's price started pushing upwards, so there is every possibility that bitcoin is bullish and will continue it's bullish trend, lets just watch how the coming days will be like.

[yhiaali3]

Yes all indications are that the trend is now bullish for bitcoin, the 40k$ resistance was very difficult and since bitcoin was able to finally break through it and touch 43k$ so I think it will continue on its way to the top but of course this will take several months and there will be a lot of corrections during this time, I It is believed that Bitcoin will break the previous peak and cross 65K before the end of the year.
I think it is a huge achievement for Bitcoin with a lot of pressure and negative news Bitcoin has managed to overcome all of this and is now on its way to a new high.

[dothebeats]

Definitely bullish in the current term. I don't see any potential slowdowns save for one really bad news that could send people panicking in fear of an immediate crash (bans, anyone?). Moreover, volumes across exchanges are also increasing, signifying that more market activity is to be expected, and that traders are already done with their 2-month long slumber. Then again, one can never be sure with the movements of crypto, especially bitcoin that has undergone similar patterns in the past.

[Rigon]

Currently we can see that the price of Bitcoin has increased a lot. Currently Bitcoin Price 43193$. However, many are speculating that Bitcoin will return to its previous position.However, the way the price of Bitcoin is rising will soon be within 50 thousand dollars.

[tranthidung]

Bitcoin is bullish and is heading back towards the trajectory of Stock-to-Flow model. Furthermore, it is highly repeating the 2013 fractal, with double tops.

• Stock to Flow model
• Compare Bull market (2013, 2017 and 2021)
• Golden ratio
• Mania phase

[John Jefferson]

With the emergence of more and more scalability solutions, a larger age of encrypted games is coming. Obviously this is a good momentum, and he is on his way to a breakthrough.

I can't think of the resistance of Bitcoin from 43,000 USD to 50,000 USD for the time being. If there are other things I haven't noticed, please let me know

[Nunoluck]

I think we are very close to bullish market. It will be better if we take a good position now. Actually I am ready for the next bull run. I already spread my fund to bitcoin and other cryptocurrencies such as TRX, DASH, QTUM, ETH and etc. Although there is some spare money to use, just in case if btc price fall to 25k but I think the probability is not so big. Atleast 75% of my fund for investment is already used. Most of my investment is in form of BTC. I think bullish market will happen atleast in October or November so I think we are about to start it now

[iTradeChips]

I really want to assume that the Bitcoin is really at a bullish period right now. But also we need to be very careful as well and not be able to make false judgments and we might be able to go into a trap. With these kinds of pumps and price increases, we have to be safe and sure and the way to do that is really is to wait. What we are looking at right now is a typical reaction of Bitcoin and being a normal reaction, we just have to wait and see hopefully before the year end we would be able to get a good price increase.

[GreatArkansas]

Let's not too be comfortable now.
Try to zoom out the chart and use a higher time frame, mid-term to long-term basis.
I am more bullish for midterm to long term for Bitcoin, if Bitcoin will not close below $40,000 on the last day of this Month, $50k - $60k is easy, high possibility to see a new all-time-high next month or two.

[James Watson]

I think traders in the market are optimistic about the upward trend. Is it about to usher in 60,000 US dollars soon?

The market is optimistic. I don’t know if there is any rational thinking in this high market sentiment. When will this upward cycle be adjusted? This is what I worry about.

It is also possible that I have lost my optimistic attitude in recent transactions, and I think I should observe for a while.