Bitcoin is getting more bearish, what is the trigger?

[ultrloa]

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I think that what we are seeing is the result of the new strain of the virus that has been found at South Africa, people are very nervous about it as we do not know what will be the potential of this new strain that many think is the most dangerous to date, so the markets are going down as a result of this, and since now bitcoin has institutional investors which are also invested in the stock market then we see some correlation forming between bitcoin and the stock markets, causing bitcoin to go down in value for the time being.

Some think about that and that cause trouble for some people here but in my opinion that scattering of new strain is just temporary only but unfortunately it triggers the bear market condition that's why people need to be careful and if they cannot take the current danger what brought by the bearish market I think its good for them to relax and convert on a stable coin for a while.

[freedomgo]

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

I think that what we are seeing is the result of the new strain of the virus that has been found at South Africa, people are very nervous about it as we do not know what will be the potential of this new strain that many think is the most dangerous to date, so the markets are going down as a result of this, and since now bitcoin has institutional investors which are also invested in the stock market then we see some correlation forming between bitcoin and the stock markets, causing bitcoin to go down in value for the time being.

Some think about that and that cause trouble for some people here but in my opinion that scattering of new strain is just temporary only but unfortunately it triggers the bear market condition that's why people need to be careful and if they cannot take the current danger what brought by the bearish market I think its good for them to relax and convert on a stable coin for a while.

I guess it will be better if we will still observe the market how far its price will go than take the risk and trade which losing is very possible this time. I also see this new covid variant may trigger the current correction and might continue into a bearish season once bitcoin will not recover. If this is the case, then we should not miss the opportunity these days to buy cheaper but potential coins as we are not really sure if the market will recover this year, or maybe by next year. But no worries for long term holders as we always have long stretch of patience to keep waiting for the right timing to sell.

[uneng]

Aside from technical analysis then it isnt really bad to consider fundamentals too.
Whats the trigger? For sure this one.
$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall
Source: Link

I do really expect something like this that anytime could happen on which this market is really highly reactive to news or fundamentals
which it could really fucked up those TA's.

So, Federal Reserve stops or decreases the stimulus they were offering by buying bonds to increase market liquidity during the pandemic, and instead of doing that, they can use the money now to raise the basic interest rates in the country, what makes fiat fixed income investments more profitable and interesting in the USA, incentivizing investors to cashout their funds from crypto market and inject it in the american traditional economy.

Not only crypto market loses, but many other emerging countries' markets can also lose this way. Well, I just hope it's a temporary movement from investors and as soon as they see how fiat economy is messed up, the increasement in interest rates may not look so bright to their eyes anymore. So bitcoin will be still an alternative to that, like it has been during the whole pandemic.

[STT]

Just momentum and reversal of speculation is enough to do this, nothing much but people forgot we can roll backwards as well as forwards.   There are some clues in the wider market like dollar strength and general market risk off but its only slight and caused a larger move in a speculative asset such as Bitcoin.

[Kemarit]

Just momentum and reversal of speculation is enough to do this, nothing much but people forgot we can roll backwards as well as forwards.   There are some clues in the wider market like dollar strength and general market risk off but its only slight and caused a larger move in a speculative asset such as Bitcoin.

Yeah, the very definition of how volatile bitcoin market is, and how it is affected by what is going around globally regardless of what event it is, i.e. covid-19 new variant, or Fed news.

Right now though, we have a good bounce, going to $49,000 after a precarious $47,000 and keeps on counting. At least now the bleeding has stop, but we shall see if the can get back to $50,000 at least and have a good momentum Monday.

[adaseb]

Last night was a number of factors. One being that many people kept opening up leveraged positions in the $50K areas, and it led to a cascading dominos type of liquidation deal.

Another was that it was extreme thin liquidity being on early Saturday. How often are there big moves during that time? Almost never.

Third was probably some stock market traders took huge losses earlier in the week and closed their crypto positions also to stop the bleed.

[michellee]

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

Indeed. Only carefully can we know when we can start buying bitcoin or wait for more to see the chance. Or, if you have skills, you can try with hit and run strategy and not chase the big profit because the situation does not come to you.

This situation is good to buy and hold temporary and that is why we do not buy bitcoin in a big amount to prevent another downtrend. If the price is still going down, you can use more money to buy bitcoin to accumulate bitcoin at many low prices, which you can sell when the price starts to increase. I think that will be good for you as you can take profit from the lowest price by selling at a high price and so on.

[Chato1977]

I don't care if this triggered by anything , Bitcoin will return to what the momentum recently .

Buy bitcoin guys this is our chance to take more Bitcoin.

Buy and Hold.

Let's take this opportunity guys , Please ..

[bots1]

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

its sad that when i wake up this morning , a Bad scenario takes my eyes and that is the very Bearish market like now.

I did not manage to take profit and now will force myself to Keep long term holding as the Bear trap seemingly taking place.

Be careful to everyone , looks like Whales are playing the cards again.

I was also surprised when the price of Bitcoin suddenly plunged to $47k yesterday. I even lost when BTC fell. Because other altcoins are also falling, including the coins I hold. Therefore, conditions like this force us to endure while waiting for the bitcoin price to rebound in order to take profit.

[sana54210]

In the current bearish bitcoin price condition, we should be able to wait until a reversal point appears. Well, that's when you start buying again. However, even though the bitcoin price is currently falling, it doesn't mean it's a wise move if we put all our money to invest there.

Why though? I mean what makes you doubt yourself when it comes to this subject? If we know that bitcoin will have a reversal and we are going to end up making a profit, then why not trust that it would make a good profit in the end? I personally believe that it would be silly not to invest into bitcoin just as it is down right now.

If you wait for it to go up it is already going up a bit, we have seen lower than 48k but seen above 48k after the crash, which is not a lot I know, we were over 65k just a month ago so I understand the hesitation. However, the hesitation should come from people who do not think bitcoin could recover or not, if you are aware that it will recover and be better, then why are you doubting buying bitcoin now?

[EdenHazard]

Aside from technical analysis then it isnt really bad to consider fundamentals too.
Whats the trigger? For sure this one.
$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall
Source: Link

I do really expect something like this that anytime could happen on which this market is really highly reactive to news or fundamentals
which it could really fucked up those TA's.

Weird that ethereum seems remain strong despite other crypto fallin apart down to 30% , the fed will always doing the same thing to try to regulate cryptocurrency platform in order to protect its user / citizen and this time some people got the FUD.
the fear is there and at once they are planning on spending some on christmas & new year holiday so yeah just figure it out what fundamentals matches the situation.

[palle11]

I don't care if this triggered by anything , Bitcoin will return to what the momentum recently .

The price will bounce back but when is the question. If you stick your money for a longer time than you expecting profit maybe frustrating and discouraging. Therefore not bothering about what caused the price of bitcoin to drop faster than it was being expected is important for a business mind. Well to me I have not seen a reasonable reason for the drop but I see it as a correction waiting to happen after all the bull run.

[Slow death]

I don't care if this triggered by anything , Bitcoin will return to what the momentum recently .

Buy bitcoin guys this is our chance to take more Bitcoin.

Buy and Hold.

Let's take this opportunity guys , Please ..

that the price will recover this everyone knows the big problem Is how long will it take for the price to recover? if it takes 1 year or two years or 3 years? and from that point it becomes very worrying


we have to ask ourselves why the price went from $40,000 to $69,000 in just a few weeks? and the answer was a possible bitcoin ETF approval, and now people are reading negative news from the SEC, this created panic selling

[Woodie]

We can see that there is a bearish channel pattern in bitcoin and this is Bitcoin's current position, which is already in a bearish phase. Before there is a breakout of the resistance, the current Bearish will continue to occur.

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

Like the analysis, its spot on but then again this is based on a 4 hour chart which could mean this anticipated moved is for the short run.

Looking at the daily, weekly and monthly trying to get higher time frame bias in trying to get the charts to agree they are sending a different signal for the long term hence trade cautiously and going back to $40k again this will be depressing for many and personally I would not want price to come this low!!!

[Oasisman]

If you want to invest or trade, it's better to be careful because the potential price towards the $40k level is still possible.

Investors could also buy at the current price not with the full amount, but a gradual buy. Nobody knows whether or not Bitcoin could extend its bearishness down to $40k, but to make sure you're not missing the dip just do a gradual buying everytime Bitcoin dips. The kind of strategy is similar to DCA.

Majority has no definite idea about the current crash, but one thing is for sure, a huge sell out happened thus pulling the price as low as $47k.

[bots1]

Aside from technical analysis then it isnt really bad to consider fundamentals too.
Whats the trigger? For sure this one.
$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall
Source: Link

I do really expect something like this that anytime could happen on which this market is really highly reactive to news or fundamentals
which it could really fucked up those TA's.

Weird that ethereum seems remain strong despite other crypto fallin apart down to 30% , the fed will always doing the same thing to try to regulate cryptocurrency platform in order to protect its user / citizen and this time some people got the FUD.
the fear is there and at once they are planning on spending some on christmas & new year holiday so yeah just figure it out what fundamentals matches the situation.

In terms of price Ethereum is also experiencing a sharp decline like the price of bitcoin. But its marketcap dominance is increasing because people are selling Bitcoin. Therefore, it seems that ethereum still has a long way to go and a reversal of ethereum's market cap growth over bitcoin could be imminent.

[Ararbermas]

Within this month i believe it will stay above 40k since some of the big investors already buying at the dip including El Salvador. As the matter of fact previously there's already a small consolidation, but unfortunately the price fluctuate again and for sure it's due to some weak hands.. Perhaps if weak hands already finished dumping big investors will add more to keep the current level before this month ends wherein since that's the common strategy when it comes buying in such situations. They keep buying when bitcoin respecting some pattern in the graph.

[el kaka22]

I am not sure what's going to happen in the nearest time, but I know that it is not going to be unavoidable. Even if we end up with a huge bearish run, even if this near 50k prices are just dead cat bouncing, even if we end up with lower than 40k in a month, all of that could be avoided.

I would suggest to start trying to look for some cash somewhere, I know it is not easy to just whip out cash for most people, but try to do some extra work online, some useless stuff that you haven't touched in 1+ year selling, and few other participation stuff and you can get yourself some money saved aside until a drop happens. If a drop comes and it is a harsh one, then you could buy with that extra money, if it never comes and we go up then you have money to spend and have some fun with. That is the great part about it right now, you could get ready for it because you have time (probably).

[OgNasty]

Too much leverage in the system that was set into cascading liquidations due to the hack and dumping of $150,000,000 from Bitmart. Historically these events have led to a full recovery and stronger market going forward. The timing is unfortunate since this is when Bitcoin is supposed to be rocketing upward, but there was too much leverage in the system so maybe this will turn out to be a blessing. It does kick the can down the road a little bit on the expected fomo top.

[Botnake]

Aside from technical analysis then it isnt really bad to consider fundamentals too.
Whats the trigger? For sure this one.
$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall
Source: Link

I do really expect something like this that anytime could happen on which this market is really highly reactive to news or fundamentals
which it could really fucked up those TA's.

Weird that ethereum seems remain strong despite other crypto fallin apart down to 30% , the fed will always doing the same thing to try to regulate cryptocurrency platform in order to protect its user / citizen and this time some people got the FUD.
the fear is there and at once they are planning on spending some on christmas & new year holiday so yeah just figure it out what fundamentals matches the situation.

In terms of price Ethereum is also experiencing a sharp decline like the price of bitcoin. But its marketcap dominance is increasing because people are selling Bitcoin. Therefore, it seems that ethereum still has a long way to go and a reversal of ethereum's market cap growth over bitcoin could be imminent.

For now, ethereum is seen to have a growth on its market cap compared to bitcoin since we are all witnessing bitcoin today having a rapid decrease of its price. But this is only due to the current correction, and the new covid strain i guess. If these issues will be over, then  we will see the market back to normal and bitcoin will create price in an upward direction. So let's all be patient this time as bitcoin is not set to stay being low priced, it will always have its own way to skyrocket again once there is strong support that will back up then.