BTC: is it really bearish?

[boyptc]

What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.

And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.

That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.

[1714010123]

1714010123

[1714010123]

1714010123

[1714010123]

1714010123

[Yamifoud]

What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.

And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.

That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.

Perhaps, we always notice full of surprise that even we have this chart, we have this basis of our speculation, TA but too unfortunate that our TA can't be right at all.

I'm sure that people are getting wise now, they are more on holding than selling. Quite that is a huge factor that affects the market trend and even keeps it bullish in the whole year 2021. That is something we need to look forward to this year, I'm still in the positivity that we are even more bullish this year and the momentum continues.

[suzanne5223]

Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.

So the magic question would be: what am I missing?

[snip]

You're not the only one who's confused about what the Bitcoin market's next momentum will be but according to the previous market historical data which I believe was what those that predicted the market to be bearishly used.
After the Bitcoin halving effect market is over the market will experience a huge correction.

The best thing you can do is to ride with the market because the chart cant provide 100% results and the crypto market is going to the verge where charts, etc will be useless cause the market will choose a trend that there's nothing to prove it.

[Darker45]

Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?

[Shasha80]

Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?

I agree with all of your explanations, it's very clear with the price of Bitcoin dropping below $45k now this is a sign of a bearish trend. But there's
really no need to worry about this Bitcoin price drop, I've often seen Bitcoin prices go down. And in the end Bitcoin can always recover, even rising
very high after experiencing a bearish trend. We just need to be patient to see the current market conditions, if we still have the capital we can buy
Bitcoin again at the current price. Because I think Bitcoin is currently at a low price, hopefully Bitcoin doesn't drop below $40k, otherwise there
will be a panic sell.

[arwin100]

Well, the point is that however way you look at those charts, whatever pattern you will create, however way you put those lines on, the price right now is falling down. So, is Bitcoin really bearish? Well, November saw Bitcoin hitting almost $69,000. We are still in the first week of January and the price is just a little more than $43,000. That must be bearish. That's never bullish. But that's the short term. Zoom it out and the chart suggests otherwise. So, we are currently in a bear phase right now. That's obvious. But there's no problem with it because the future is promising. And what do we do when the price is cheap?

I agree with all of your explanations, it's very clear with the price of Bitcoin dropping below $45k now this is a sign of a bearish trend. But there's
really no need to worry about this Bitcoin price drop, I've often seen Bitcoin prices go down. And in the end Bitcoin can always recover, even rising
very high after experiencing a bearish trend. We just need to be patient to see the current market conditions, if we still have the capital we can buy
Bitcoin again at the current price. Because I think Bitcoin is currently at a low price, hopefully Bitcoin doesn't drop below $40k, otherwise there
will be a panic sell.

Well for some people who didn't experience the past heavy bear market season they will possibly get afraid on this current market condition but for those experience people who already see that maybe they are still in cool but one thing is for sure there many will slowly get panic for seeing the situation especially when bitcoin keeps declining and for sure doubts will spread more especially once bitcoin touch at $30k+ again so hopefully we can see some good recovery since this will calm the majority of people who's still have holding which they keep or bought at the top.

[boyptc]

What you're missing is that bitcoin has always been unpredictable. Despite a lot of good TAs that I've read last year even up to this point. No one has expected that it will be down by $43k-$44k in a bit.

And last year, we're all into $100k and s2f model although it seems to be following the path but at the end of year, it had changed and didn't follow it.

That's why even with good and most accurate TAs bitcoin can do the unexpected and is always full of surprises.

Perhaps, we always notice full of surprise that even we have this chart, we have this basis of our speculation, TA but too unfortunate that our TA can't be right at all.

I'm sure that people are getting wise now, they are more on holding than selling. Quite that is a huge factor that affects the market trend and even keeps it bullish in the whole year 2021. That is something we need to look forward to this year, I'm still in the positivity that we are even more bullish this year and the momentum continues.

TAs are sometimes right and sometimes wrong. It's always like that and that settles the attitude of bitcoin for being unpredictable no matter what's the basis of the TA is.

The selling pressure is high and you're right that when the market is like this, diamond hands we have and we only need to hold. And at the same time, those who have waited for the drop, they're now free to buy just like what they've wished for.

[Hydrogen]

Black friday and the christmas holiday season can be a high point for retail bitcoin transactions. Followed by a lull in transaction volume in january.

I think historically january is the best time of the year to make short plays on bitcoin, off decreasing demand from the holiday season.

It can also serve as an entry point for setting up a good buy in position for the next bitcoin halving. Pushing the value down now can translate to larger profits when the next reward halving hits.

It can be hard to get a read on whether an asset is bullish or bearish. There are undoubtedly many conflicting ideas traders have about what the next stop should be.

I've always been a proponent of bitcoin being defined by 4 year boom and bust cycles. There was a big bust cycle following the last rewards halving. And the one prior. A bearish period could be normal at this stage.

[The Cryptovator]

Seems to me bearish to be honest. Don't know how long it will last, today’s price dump somehow indicates the bear mode. I am expecting $40K would be the support zone, in case if Bitcoin break this zone then we will be on the real bear at all. Otherwise, it would be a correction point if Bitcoin starts up from that support zone. Let's think positively, most probably whales accumulating Bitcoin and definitely they will pump it today or tomorrow. And we might see some tweets from institutional investors about buying Bitcoin. So hopefully Bitcoin will start recovering.

[Haunebu]

Yes. It is really bearish and the primary reason behind that seems to be Omicron based on my research which surprised me since the previous variants actually helped BTC and other cryptocurrencies grow drastically over time.

Historically, the crypto market usually is bullish at this time of the year, but this extremely volatile market doesn't always follow historical patterns.

[Fortify]

Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.

So the magic question would be: what am I missing?

What do you think you are missing? If it looks like a duck, walks like a duck and quacks like a duck - it's usually a duck. What you seem to be wanting is someone to reassure you that the evidence unfolding before you is a lie and you would be foolish to listen to such a person. Over the short term Bitcoin has been trending downwards from it's all time high, there is at least one major investment bank (not that they're particularly good analysts) who say that the current proper price for Bitcoin right now is in the $30-$35k range so there may even be further for it to fall. It may very well bounce upwards at any time, but energy usage concerns are currently turning the mood sour against crypto which might be a hard problem to fix.

[ajochems]

Yes. It is really bearish and the primary reason behind that seems to be Omicron based on my research which surprised me since the previous variants actually helped BTC and other cryptocurrencies grow drastically over time.

Historically, the crypto market usually is bullish at this time of the year, but this extremely volatile market doesn't always follow historical patterns.

When the bearish come, you need to inverse good amount of coin. Holding is essential one to get good amount of profit.Patience is needed one among the people. But they failed to use the key tool of holding and bother about the loss.But the inbuilt fact is loss is temporary and profit is permanent.

[Kasabus]

Yes. It is really bearish and the primary reason behind that seems to be Omicron based on my research which surprised me since the previous variants actually helped BTC and other cryptocurrencies grow drastically over time.

Historically, the crypto market usually is bullish at this time of the year, but this extremely volatile market doesn't always follow historical patterns.

When the bearish come, you need to inverse good amount of coin. Holding is essential one to get good amount of profit.Patience is needed one among the people. But they failed to use the key tool of holding and bother about the loss.But the inbuilt fact is loss is temporary and profit is permanent.

History may sometimes becomes relevant or not, but this time the crypto prices mostly depend on its market news and sentiments. So its always expected if most of the current events are negative, then the value of the coins will certainly fall, and not because we are already in a bearish market.  But seems the market looks like bearish anyway, then we should at least prepare for it because its where the market is really heading once negative news will always hit the market. Bitcoin is currently facing a hard time, but it will definitely recover in time.

[terrorJR]

This is only a matter of the timeframe used, because it is not possible for long-term holders to use a 15-minute or one-hour timeframe but at least weekly or even more than that, unlike people who trade daily. they do checks and analyzes in close TF so it is very reasonable if the price decline occurs to say it is bearish.
on the other hand I'm more comfortable saying it as a correction than bearish

The price correction is currently happening with bitcoin dropping more than $2,000 today and now priced at $45,870. This has been happening since the beginning of the week against some speculation for bull this time. It is still looking bearish on a higher time and I think it causing some hodlers panic.

now it's even up to $42k
This could make a lot of people even more panicked about this. The correction in the last few weeks is quite interesting because this decline was reported as a result of the opening of 100,000 BTC MtGox some time ago which was indeed indicated to be one of the reasons why bitcoin experienced a decline, besides that now in kazakh is also experiencing a forced power outage and all of us know that kazakh is one of the countries that generate the biggest hashrate for mining

[Taskford]

Yes. It is really bearish and the primary reason behind that seems to be Omicron based on my research which surprised me since the previous variants actually helped BTC and other cryptocurrencies grow drastically over time.

Historically, the crypto market usually is bullish at this time of the year, but this extremely volatile market doesn't always follow historical patterns.

When the bearish come, you need to inverse good amount of coin. Holding is essential one to get good amount of profit.Patience is needed one among the people. But they failed to use the key tool of holding and bother about the loss.But the inbuilt fact is loss is temporary and profit is permanent.

History may sometimes becomes relevant or not, but this time the crypto prices mostly depend on its market news and sentiments. So its always expected if most of the current events are negative, then the value of the coins will certainly fall, and not because we are already in a bearish market.  But seems the market looks like bearish anyway, then we should at least prepare for it because its where the market is really heading once negative news will always hit the market. Bitcoin is currently facing a hard time, but it will definitely recover in time.

Market indeed became bearish and for reaching this deep this already higher up the fear level of the people and many still got afraid on the current condition since we know how deep bitcoin go so far from the past but we shouldn't get afraid of this if we are still in profit nor accumulated a profit before since we can buy it again once bitcoin drop badly.

[Lanatsa]

This is only a matter of the timeframe used, because it is not possible for long-term holders to use a 15-minute or one-hour timeframe but at least weekly or even more than that, unlike people who trade daily. they do checks and analyzes in close TF so it is very reasonable if the price decline occurs to say it is bearish.
on the other hand I'm more comfortable saying it as a correction than bearish

The price correction is currently happening with bitcoin dropping more than $2,000 today and now priced at $45,870. This has been happening since the beginning of the week against some speculation for bull this time. It is still looking bearish on a higher time and I think it causing some hodlers panic.

now it's even up to $42k
This could make a lot of people even more panicked about this. The correction in the last few weeks is quite interesting because this decline was reported as a result of the opening of 100,000 BTC MtGox some time ago which was indeed indicated to be one of the reasons why bitcoin experienced a decline, besides that now in kazakh is also experiencing a forced power outage and all of us know that kazakh is one of the countries that generate the biggest hashrate for mining

Times like this on where people starts to rattle out and panic which is a really very common behavior.People should have anticipate for these things to happen because its always been a market part of having

these kind of pullbacks or corrections on which this is rather a good time on considering on buying up cheaper coins instead of freaking out when seeing reds.
Bearish or bullish, people do always have something to say which a very common mindset to have which it isn't surprising.

[adaseb]

Nobody knows what will happen. I was around in 2018 and whenever it dipped, people were saying they bought the bottom and we’re going to sell at a new ATH. Then it dipped again and again and again and then people assumed $6K must be rock solid support until it wasn’t.

Then people assumed $4.5K was the low, until it wasn’t and then it went to like $3.5K and did nothing for many weeks. Many sold out of boredom and it was the low.

So who knows if 2022 will be a repeat.

[terrorJR]

now it's even up to $42k
This could make a lot of people even more panicked about this. The correction in the last few weeks is quite interesting because this decline was reported as a result of the opening of 100,000 BTC MtGox some time ago which was indeed indicated to be one of the reasons why bitcoin experienced a decline, besides that now in kazakh is also experiencing a forced power outage and all of us know that kazakh is one of the countries that generate the biggest hashrate for mining

Times like this on where people starts to rattle out and panic which is a really very common behavior.People should have anticipate for these things to happen because its always been a market part of having

these kind of pullbacks or corrections on which this is rather a good time on considering on buying up cheaper coins instead of freaking out when seeing reds.
Bearish or bullish, people do always have something to say which a very common mindset to have which it isn't surprising.

this is the positive side, when we can think clearly, this is actually a blessing because a deep correction of btc will make alt go down too and this is a good opportunity to make a move so that we can add the assets we want.
but indeed things like this are very difficult to happen when the price is dropping significantly all you think about is an asset that has decreased and that's what you think about even though it's not very useful when you just think about it without any real action

[michellee]

Whether the market is bearish or bullish, if your target is still for the long term, you should not worry and will buy more amounts in the bearish trends. If your chart says this moment is still bullish but the market shows the red candle, then you should search for more information besides that chart. Maybe you should change the timeline and indicators or find more info about the market conditions. I suggest you still hold your bitcoin and buy more bitcoin to prepare for the other bullish trends.

[Lizzylove1]

The market seems to be bearish but we can't really tell how it will go. BTC always bounces back when we least expect it to do so. Most people are going to be caught off guard in the next massive bull run. I hope people are not going to sell off in panic and buy at a higher price.