No strength in Bitcoin in higher time frames

[fzkto]

I think even though in the last few weeks the price of bitcoin has fallen below the $40k area, it doesn't look like bitcoin is going to move in a bear market. I see the current price decline as a move to breakout again and the bitcoin price has the potential to retest to the $42K area.

I also believe bitcoin might grow a bit in the near future, but if you think about the global price movement, we have been in a down-trend for a long time and it is not clear to me why and on what news cryptocurrencies will grow. Now there is a global crisis in the world, inflation is barely contained, there is a war going on and a new pandemic of covids is predicted. We are likely to be in a bear market for a few years. Although I will be happy if my reasoning is wrong.

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[arufox]

Currently, the bitcoin price is at the level of $40k whereas previously, the bitcoin price was on the path to rebound. Although there is a small correction but we will not move in a bear market. I believe the price of bitcoin will rise again in the next few weeks even though the increase is in the 5%-8% range.

I do hope that price would go up, I agree with you that it looks like it is trying to go up or the near future. However, bitcoin has this horrible way of just going down if it fails to go up. Whenever we see it try to go up and if it succeeds then it's great but then it ends up going down if it fails which is a terrible tragedy.

It could have stand there and just keep being at that price, fail to go up, and stand still but for some reason when it fails it starts to crash. I do not know why and how but that is just the situation at hand. So, I believe you are right that it is trying to go up for now, but if it fails and can't go up then we will see it go down unfortunately.

Seeing the uncertainty of the current bitcoin market situation, and the market reacting to uncertainty in very different ways. Whereas since the last few weeks the bitcoin price has been on an upward path but it seems that currently, bitcoin has failed to continue its price increase where the bitcoin price is currently back down to the level of $21k.

[noormcs5]

Currently, the bitcoin price is at the level of $40k whereas previously, the bitcoin price was on the path to rebound. Although there is a small correction but we will not move in a bear market. I believe the price of bitcoin will rise again in the next few weeks even though the increase is in the 5%-8% range.

I do hope that price would go up, I agree with you that it looks like it is trying to go up or the near future. However, bitcoin has this horrible way of just going down if it fails to go up. Whenever we see it try to go up and if it succeeds then it's great but then it ends up going down if it fails which is a terrible tragedy.

It could have stand there and just keep being at that price, fail to go up, and stand still but for some reason when it fails it starts to crash. I do not know why and how but that is just the situation at hand. So, I believe you are right that it is trying to go up for now, but if it fails and can't go up then we will see it go down unfortunately.

Seeing the uncertainty of the current bitcoin market situation, and the market reacting to uncertainty in very different ways. Whereas since the last few weeks the bitcoin price has been on an upward path but it seems that currently, bitcoin has failed to continue its price increase where the bitcoin price is currently back down to the level of $21k.

Bitcoin has broken 20,000$ and even 19,000$ but we are still not seeing any strength in the market. Bears are in full control of the market and it seems it is impossible for the bulls to show any strength. For taking entry, i am waiting for any bullish structure which seems not to be there for now. However, i think now the bottom is very near.

[StreakW]

Indeed bitcoin is in a downward price trend that has been going on since the last few month where the bitcoin price is currently trading in the $20k-$19k area. This decline could be a reaction to accelerate a significant up move. Therefore, I am optimistic that bitcoin will breakout again in the resistance area above $30k.

[FanEagle]

Indeed bitcoin is in a downward price trend that has been going on since the last few month where the bitcoin price is currently trading in the $20k-$19k area. This decline could be a reaction to accelerate a significant up move. Therefore, I am optimistic that bitcoin will breakout again in the resistance area above $30k.

This is very true, when people are selling bitcoin, that means there are a lot of bitcoins in the market that is unsold but being sold at the moment, and that means that anyone with just a bit of money could bulk purchase plenty of time. Remember, there are companies who bought billions of dollars worth of bitcoin, and that is a lot, like tens of thousands of bitcoins.

If anyone wanted to do the same, 10k bitcoins would worth only 200 million give or take, and that is very cheap, when it goes to 60k again one day ,that is 600 million so a 400 million dollar profit. You can buy even more and make even more profit and there are many companies in wall street that is looking to do exactly just that.

[lixer]

Indeed bitcoin is in a downward price trend that has been going on since the last few month where the bitcoin price is currently trading in the $20k-$19k area. This decline could be a reaction to accelerate a significant up move. Therefore, I am optimistic that bitcoin will breakout again in the resistance area above $30k.

This is very true, when people are selling bitcoin, that means there are a lot of bitcoins in the market that is unsold but being sold at the moment, and that means that anyone with just a bit of money could bulk purchase plenty of time. Remember, there are companies who bought billions of dollars worth of bitcoin, and that is a lot, like tens of thousands of bitcoins.

If anyone wanted to do the same, 10k bitcoins would worth only 200 million give or take, and that is very cheap, when it goes to 60k again one day ,that is 600 million so a 400 million dollar profit. You can buy even more and make even more profit and there are many companies in wall street that is looking to do exactly just that.

200 million dollars cheap? No way mate. There are big companies out there but I don't think they can invest that huge for a highly unstable asset/investment but I think they can allocate more funds on traditional investments. For btc maybe they can only invest hundreds and thousands of dollars and max would be a million or two.

@StreakW if someone wants to accelerate the increase of btc then they should buy not sell. Selling will have an opposite effect and that is the price can go down but even if they did that, there is still always a chance that btc can go back to its previous level, I am talking about the higher price only and not the lower ones since we are already in here at the moment.

[arufox]

Currently, the bitcoin price is at the level of $40k whereas previously, the bitcoin price was on the path to rebound. Although there is a small correction but we will not move in a bear market. I believe the price of bitcoin will rise again in the next few weeks even though the increase is in the 5%-8% range.

I do hope that price would go up, I agree with you that it looks like it is trying to go up or the near future. However, bitcoin has this horrible way of just going down if it fails to go up. Whenever we see it try to go up and if it succeeds then it's great but then it ends up going down if it fails which is a terrible tragedy.

It could have stand there and just keep being at that price, fail to go up, and stand still but for some reason when it fails it starts to crash. I do not know why and how but that is just the situation at hand. So, I believe you are right that it is trying to go up for now, but if it fails and can't go up then we will see it go down unfortunately.

Seeing the uncertainty of the current bitcoin market situation, and the market reacting to uncertainty in very different ways. Whereas since the last few weeks the bitcoin price has been on an upward path but it seems that currently, bitcoin has failed to continue its price increase where the bitcoin price is currently back down to the level of $21k.

Bitcoin has broken 20,000$ and even 19,000$ but we are still not seeing any strength in the market. Bears are in full control of the market and it seems it is impossible for the bulls to show any strength. For taking entry, i am waiting for any bullish structure which seems not to be there for now. However, i think now the bottom is very near.

Right. Indeed a bear market has been going on for the last few months where the price of bitcoin plummeted. After seeing the bitcoin price so far still stuck in the $24k-$23kk area, it will allow the bitcoin price to decline further towards the $20K area. If bitcoin is stuck in the $20K-$19k resistance area, then the bearish trend continues and a bullish season is unlikely to happen this year.

[Silberman]

Right. Indeed a bear market has been going on for the last few months where the price of bitcoin plummeted. After seeing the bitcoin price so far still stuck in the $24k-$23kk area, it will allow the bitcoin price to decline further towards the $20K area. If bitcoin is stuck in the $20K-$19k resistance area, then the bearish trend continues and a bullish season is unlikely to happen this year.

At this time it seems unlikely we are going to see a bull season during this year, even if there was a recovery after the crash, and this is a good sign, it is not like the price is moving upwards at an incredible pace, there are simply too many factors which will limit the growth potential of bitcoin during the rest of this year and the next year as well, the best we can do is simply to accumulate bitcoin at the low prices we are seeing and then hope for the bull market to come during 2024.

[Zanab247]

Based on what people are observing in the community show that Bitcoin is slow in this year 2022 because many people were expecting massive pumping of Bitcoin price so that they will use this year 2022 to make enough incomes from their investments. I believe, the price is still struggle to move to $40k so that people will have hope that the price will reach $70k before the end of this year.

[uneng]

Bitcoin has broken 20,000$ and even 19,000$ but we are still not seeing any strength in the market. Bears are in full control of the market and it seems it is impossible for the bulls to show any strength. For taking entry, i am waiting for any bullish structure which seems not to be there for now. However, i think now the bottom is very near.

I would like the bottom were very near, but I'm not so sure anymore. Before I expected the bottom was at 40,000$, then 30,000$, now 20,000$, but it seems it's also not the dip yet, because bitcoin crashed to 19,000$ already. Until a significant fluctuation happens we can expect the bottom is going to be at even lower levels of price range. The scenario this year isn't being good for people who live from crypto, and unfortunatelly it can discourage people from adopting crypto on their daily life. Not that they will set crypto aside, but the importance and presence of crypto on their lives can decrease considerably.

[virasog]

Bitcoin has broken 20,000$ and even 19,000$ but we are still not seeing any strength in the market. Bears are in full control of the market and it seems it is impossible for the bulls to show any strength. For taking entry, i am waiting for any bullish structure which seems not to be there for now. However, i think now the bottom is very near.

I would like the bottom were very near, but I'm not so sure anymore. Before I expected the bottom was at 40,000$, then 30,000$, now 20,000$, but it seems it's also not the dip yet, because bitcoin crashed to 19,000$ already. Until a significant fluctuation happens we can expect the bottom is going to be at even lower levels of price range. The scenario this year isn't being good for people who live from crypto, and unfortunatelly it can discourage people from adopting crypto on their daily life. Not that they will set crypto aside, but the importance and presence of crypto on their lives can decrease considerably.

We can say that the bottom is near but we do not know what could be the potential bottom. If the bottom is near 10,000$ then it is 50 percent of the current price, which is quite significant. If bitcoin price reaches that amount, it wil be very bad for the overall market and most probably death for most of the altcoins.

I hope bull manages to take the market up from here and we do not have to face the blood bath. Bear markets are really painful and the old bitcoin investors are very well aware of it.

[StreakW]

Right. Indeed a bear market has been going on for the last few months where the price of bitcoin plummeted. After seeing the bitcoin price so far still stuck in the $24k-$23kk area, it will allow the bitcoin price to decline further towards the $20K area. If bitcoin is stuck in the $20K-$19k resistance area, then the bearish trend continues and a bullish season is unlikely to happen this year.

At this time it seems unlikely we are going to see a bull season during this year, even if there was a recovery after the crash, and this is a good sign, it is not like the price is moving upwards at an incredible pace, there are simply too many factors which will limit the growth potential of bitcoin during the rest of this year and the next year as well, the best we can do is simply to accumulate bitcoin at the low prices we are seeing and then hope for the bull market to come during 2024.

Right. I agree with you that for the rest of the year it is unlikely that there will be a bullish season and the market situation is showing no signs of recovery. While the price of bitcoin is still low, we can take advantage of the momentum to collect bitcoin and hold it in the long term at least until 2024 because that year is the bitcoin halving if it refers to the 4-year cycle.

[Coin_trader]

Right. Indeed a bear market has been going on for the last few months where the price of bitcoin plummeted. After seeing the bitcoin price so far still stuck in the $24k-$23kk area, it will allow the bitcoin price to decline further towards the $20K area. If bitcoin is stuck in the $20K-$19k resistance area, then the bearish trend continues and a bullish season is unlikely to happen this year.

At this time it seems unlikely we are going to see a bull season during this year, even if there was a recovery after the crash, and this is a good sign, it is not like the price is moving upwards at an incredible pace, there are simply too many factors which will limit the growth potential of bitcoin during the rest of this year and the next year as well, the best we can do is simply to accumulate bitcoin at the low prices we are seeing and then hope for the bull market to come during 2024.

Right. I agree with you that for the rest of the year it is unlikely that there will be a bullish season and the market situation is showing no signs of recovery. While the price of bitcoin is still low, we can take advantage of the momentum to collect bitcoin and hold it in the long term at least until 2024 because that year is the bitcoin halving if it refers to the 4-year cycle.

When you look on the previous cycle of Bitcoin during pandemic hits. The chart of Bitcoin on higher time frame is hopeless but suddenly some good news from institutional investors investing on crypto make the trend reverse instantly that create a massive bullrun until the current ATH.

I think bullrun comes in surprise since no one can predict whales and they usually enter when no one is buying due to the fear of losing on this bearish market. It’s still early for us to assume that bullrun will not come this year.

[newdevices]

Right. Indeed a bear market has been going on for the last few months where the price of bitcoin plummeted. After seeing the bitcoin price so far still stuck in the $24k-$23kk area, it will allow the bitcoin price to decline further towards the $20K area. If bitcoin is stuck in the $20K-$19k resistance area, then the bearish trend continues and a bullish season is unlikely to happen this year.

At this time it seems unlikely we are going to see a bull season during this year, even if there was a recovery after the crash, and this is a good sign, it is not like the price is moving upwards at an incredible pace, there are simply too many factors which will limit the growth potential of bitcoin during the rest of this year and the next year as well, the best we can do is simply to accumulate bitcoin at the low prices we are seeing and then hope for the bull market to come during 2024.

Right. I agree with you that for the rest of the year it is unlikely that there will be a bullish season and the market situation is showing no signs of recovery. While the price of bitcoin is still low, we can take advantage of the momentum to collect bitcoin and hold it in the long term at least until 2024 because that year is the bitcoin halving if it refers to the 4-year cycle.

if the 4 year cycle goes back then 2025 is the peak and 2022-2023 looks like it will be a year of accumulation,
yes, this has been proven now, because the chart shows Bitcoin price is still at the bottom and is still difficult to break the $30k resistance,
of course this still identifies that Bitcoin still bearish.

[buwaytress]

if the 4 year cycle goes back then 2025 is the peak and 2022-2023 looks like it will be a year of accumulation,
yes, this has been proven now, because the chart shows Bitcoin price is still at the bottom and is still difficult to break the $30k resistance,
of course this still identifies that Bitcoin still bearish.

I do think halving will have significance, but numerous "firsts" in the past year (first time we maintain levels below previous ATH in a cycle being the most important to me) makes me less and less confident that we see a repeat of past cycles. So while I still think 2025 will be rallying time, I'm not sure we see ATH till a bit later (or even much earlier). Macro pressures have never been so strong in speculation markets.

$30k resistance? We're all still hung up over $20k now haha.

[STT]

The most important part of this year was staying below a 200 week average for any period of time, thats a measured average rather then the ATH idea which is a guess on correct pricing.  Most likely 20k wasnt entirely reliable as a price point due to excessive congestion, as I remember it fees to send anything were about 40 dollars or something silly hence volume was not really reflecting the entire population of users beyond speculative trades.

[Jating]

The most important part of this year was staying below a 200 week average for any period of time, thats a measured average rather then the ATH idea which is a guess on correct pricing.  Most likely 20k wasnt entirely reliable as a price point due to excessive congestion, as I remember it fees to send anything were about 40 dollars or something silly hence volume was not really reflecting the entire population of users beyond speculative trades.

But that was a long time ago, it was 2017 if I'm not mistaken about the network congestions that you are talking about. Anyhow, this is the price first in history that bitcoin goes below it's previous all time high.

It could indicate that the next bull run might be higher than everyone is expected, so it means it will be so massive. Or just about to nice the 6 digit market and that the prediction in 2021 should happened in 2025. Anyhow, still a long time to see what will happen.

[STT]

It we're talking the 200 week average meaning anything and apparently to my surprise it has a weight and meaning in BTC price action then 2017 isnt forever ago its just 5 years.  We talk about 4 year cycles well that was not that long ago, theres relevance to the present pricing.   Its probably all relevant in terms of behavior and volatility but I do think 2019 pricing might be where I measure the strength in extreme lows for BTC in 2022 and next year rather then 2017.

I would still contest first time ever because we arent sure of actual value only the nominal prices.  We are pricing BTC in dollars and the current FIAT standard in 2022 is not the same Dollar of previous years.  It keeps changing, there is no fixed worth its quite certain its losing part of its value erratically every year for many years.

[savetheFORUM]

Most likely 20k wasnt entirely reliable as a price point due to excessive congestion, as I remember it fees to send anything were about 40 dollars or something

$20k is reliable actually because this is the only price point that we have that stayed. I don't know what did you do on why your fees have skyrocketed like that but I remember I did a lot of transactions last time when the price was still at $20k and I only pay less than a dollar for the fees.

if the 4 year cycle goes back then 2025 is the peak and 2022-2023 looks like it will be a year of accumulation,
yes, this has been proven now, because the chart shows Bitcoin price is still at the bottom and is still difficult to break the $30k resistance,
of course this still identifies that Bitcoin still bearish.

For sure 2022 is a year for accumulation but we don't know yet if this will continue till next year or not. If it did then maybe the 4 year cycle is really repeating. That's going to be a long wait but the good part is that it gives other people a chance to accumulate especially If they are a newly entrant in this market. The timing is going to be good for them. $30k btw is not the resistance level. We aren't even close to that but $25k is the real one.