The market is at the most oversold level

[michellee]

When oversold it will usually come back down but up to do a bullish test but I don't think there is a strong wall if the RSI says oversold. Maybe we should wait for bitcoin to go down even more?

The market is crashed for now.The best time to inverse your money is now. When the price back to normal as like old 40k dollars.You get decent profit from it.Holding is essential one in trading business.Some people inverse less amount of dollars in the dump and earn huge from it. The price of bitcoin plays a huge role.The pump market is the best time to inverse for the short run and dump is best time for long run profit.

I think you should wait for a while as the red candle is coming again to the market and there is no need to buy in a rush. Maybe you can analyze for more to check if the price will go down for deep or stay at the current price level. If the next analysis shows the pattern to go down for more, you can prepare your funds at the exchange to start buying but you can create many buy orders. Hopefully, we can buy at a low price in the next correction to make a profit in the next pump market.

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[sana54210]

I think you should wait for a while as the red candle is coming again to the market and there is no need to buy in a rush. Maybe you can analyze for more to check if the price will go down for deep or stay at the current price level. If the next analysis shows the pattern to go down for more, you can prepare your funds at the exchange to start buying but you can create many buy orders. Hopefully, we can buy at a low price in the next correction to make a profit in the next pump market.

You could split your investments? If you have some money, even if as little as $100, then you can put 3 orders in to make sure that you do not miss out on the future profit chances. One at right now, buy 50% of it right now, then the other two is at 38k and 34k, that way if it goes down then you DCA your entry point, if it goes up then you do not miss making more profit. That is the method I could think right now, but I am sure that there must be some smarter people out there who can figure out a better method. I just wanted to say that you do not have to just "either buy right now or wait until it drops more", that can't be the only two options, there must be some more.

[bittraffic]

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

[molsewid]

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

Thanks for sharing this news bud, I am not aware about this though yeah it may sound like a fud later but who knows right this is a good news to be honest. But maybe you can provide some news link here so probably we can read it and see it through our own eyes so we may assess the legitimacy of the news. But yeah, for sure I'll do the same thing too if this kind of news didn't make any price movement of bitcoin improve then I'll start buying back also.

[redwine49]

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It's almost the end of the month, the monthly bitcoin candle not yet close. Traders still have time which side they want to ride, the bull or the bear.
The bull are trying to get above 45k $ mark and if we close at 45k $ by the end of this month, it will be fantastic.
And the bear want to take us down to 30k $. If we close above 37,5k $ in this month, their next target is to reach 30k $ in february

[michellee]

You could split your investments? If you have some money, even if as little as $100, then you can put 3 orders in to make sure that you do not miss out on the future profit chances. One at right now, buy 50% of it right now, then the other two is at 38k and 34k, that way if it goes down then you DCA your entry point, if it goes up then you do not miss making more profit. That is the method I could think right now, but I am sure that there must be some smarter people out there who can figure out a better method. I just wanted to say that you do not have to just "either buy right now or wait until it drops more", that can't be the only two options, there must be some more.

If we talk about buy orders with $100, you can split many parts with small order buy. For example, you can create an order buy for $10 (for testing the market). If the market goes down by 10%, you can buy back with $20-$30 and wait. If the market goes up by 10%, you can sell it or still buy.

But I bet not many people want to sell their coins when the price is up for 10% instead of buying back at that price. If you sell your coin at the 10% up price, the price can go down and make another correction so that you can buy back again with your first order.

Yes, there must be more strategies you can do, which depends on yourself. That is just a small example and I am sure they will figure out which strategies will work for them by practicing.

[Porfirii]

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

[crzy]

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

Recovery will start to begin if the OP is correct about oversold we already saw some small pump though many say its a bull trap, but we stay longer on that level so maybe its not a trap at all. We’ve been hoping for the price to recover again, Next month will be a crucial month let’s wait and see to confirm this analysis.

[TinaK]

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

[Silberman]

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It is going to be interesting to see what happens with those regulations, after all the US is already over-regulating bitcoin and now they want to increase the regulations? It seems they think they can kill the interest in bitcoin by forcing people to go through a lot of trouble in order to use and hold bitcoin, but this is not the case, people are simply going to ignore whatever the government says if the regulations are too strict and it is impossible to comply with them.

[aruldaroy]

It seems that the balance hasn't decided yet which trend to tip. If I had the famous meme at hand... you know, the one about the man and the stick encouraging Bitcoin to do something.

It is still one day left before January ends. After some days of quiet calm, we might see great volatility levels again in the next hours and I hope the OP is right and the market is oversold.

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

Trust me bitcoin will not go down again
Bitcoin will quickly reverse direction.
Because judging from the crypto winter has arrived,
with bitcoin's weakness nearly 40% from its all-time high of $69,000.
Because there are some analysts also say that the correction in the crypto market is predicted to be likely to end as soon as possible in early February.

[bitgov]

Given today's RSI indicator, it looks like the cryptocurrency market is oversold. However, the RSI indicator can be wrong and even change, so in fact, with such large fluctuations in price, it tells us nothing. In my opinion, the trend should return to positive, but in fact anything can happen.

[LUCKMCFLY]

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

[Cryptock]

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

Of course, any scenario is possible. Remembering what happened in 2018, a drop in price to $20k would not be a big surprise to me. However, we must realize that Bitcoin's popularity has grown enormously in the last 2 years. This means that there are many more hodlers on the market today than there were 3 years ago. I think that if the price continues to drope, it will be rather slightly. I expect, like you, a strong and sharp upward boom in prices.

[btc_angela]

From the perspective of an enthusiast, I do not think too much about the market, cause I do not bother about RSI or bitcoin being oversold or the market cap of cryptocurrencies passing or dropping below a certain thresh-hold or the market sentiment. Price actions can not be predicted and I do not bother trying guess what direction it would take.

When the market cannot be predicted as it is today, of course the choice to be silent and watch it is the most appropriate choice. I'm also doing it right now, just seeing what happens to the market next. A decline of almost 50% certainly makes traders' psychology even more shaken.
now it's just a look and if you have spare capital, buying the current price or the next decline is certainly the right choice.

The choice for those people who are more concerned is to just hold the stablecoin for now. I'm closely positive the price will bounce after it hit the oversold point by the next day so it would be a good option for me to just wait. The very oversold I think is $30K but if it's going to get worse because of the fud these days, the worse will be $20K.

Well, I had thought of the same scenario of BTC at $20k, well, it's not unreasonable, in fact it reminds me of an article where they said that the worst for BTC was going to come, but this was more than 7 months ago that I read it, however the market at that time did not fall, on the contrary, in December everyone was expecting BTC at $100k, if we start to think with a cool head, it is likely that if we expect a very bearish movement, the opposite could happen, and BTC may make an impressive bullish move, as the market is doing the opposite of what the masses think.

And it totally messed up the S2F model, Lol, predicting $100k that didn't happened in December. Nevertheless, there is still high hopes that the price could go and reach 6 digits.

However, I don't think it's possible this year or the next couple of years. We are already in a bear market, so most likely the price will have a hard time to bounce back. And on the opposite, we are talking about hitting all time lows again, somewhere in the vicinity of $20k.

[YinShuiSiYuan]

The assessment that the market is oversold comes from technical analysis, which has no long-term use in the cryptocurrency market. I agree that some psychological behaviors coincide with the patterns of technical analysis in the short term, but when it comes to the current situation on the cryptocurrency market, I am sure that none of the predictions will come true. Unless it's done the day, or two before.

[redwine49]

We're heading at the bull trend I guess.
As we witnessed, the market has been struggling to recover the price because many people or even small-time investors are now continuously kept panicking and selling their assets,s and also the FUD has been prolonged. It's normal to see that bitcoin price or the entire market has been experienced a fluctuation of the price that makes volatility.

The market remained unpredictable and nobody knows when it will happen if there's a massive drop.

Based on your comments, it should be a bear trend not a "bull trend"

There is news these days about Biden going to announce BTC regulation, there may be some fud later about this announcent which a reason for the price to drop more. The government wouldn't run out of things to do to keep crypto users at bay.

It was announced yesterday as far as know but there is no effect to the price still so, of it doesnt really drag prices downwards I guess we have all past that stage already. Maybe next week when it dips a bit I could start buying back.

It is going to be interesting to see what happens with those regulations, after all the US is already over-regulating bitcoin and now they want to increase the regulations? It seems they think they can kill the interest in bitcoin by forcing people to go through a lot of trouble in order to use and hold bitcoin, but this is not the case, people are simply going to ignore whatever the government says if the regulations are too strict and it is impossible to comply with them.

Actually they just want to spy on us. About how much money you have, where they come from and how you can get that money.
In the end how much do you have to pay your taxes?
 

Trust me bitcoin will not go down again
Bitcoin will quickly reverse direction.
Because judging from the crypto winter has arrived,
with bitcoin's weakness nearly 40% from its all-time high of $69,000.
Because there are some analysts also say that the correction in the crypto market is predicted to be likely to end as soon as possible in early February.

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

[ethereumhunter]

The last bear trend bitcoin down almost to 85% from alt of 20k$
This correction is still small

Yes, it is a small correction but the down is nearly half the last highest price. It is a bear trend, but it still makes us survive and the market has moved well so far. But we should calm down in any situation, no matter if the market is in a bear or bull market, because that is our way to use every moment for our advantage. If people believe that this moment is the bear market, they should buy back more bitcoin because the price reaches the low price level and hold it for some time. Or they can also have the opportunity to buy low and sell high so we can continue to profit from the current situation. That is how we should act based on the situations.

[crwth]

Since it's oversold, I think it's a great way to buy more from it. I think it's best to approach it incrementally with you max budget per trade so that you can be safe with your investments and it will be okay with you if the value decreases for a moment but as long as you keep on being consistent on buying the coin that you want, I think it's going to be a good thing in the long run.

[electronicash]

Yes, crypto has gone very low and so have the other markets. There is a possibility of correction very soon because it fell quickly. It is a good time I think if somebody wants to buy crypto.

it dropped to 34K in the previous week, if someone figured it's oversold, they've already bought and profit more already today. i felt like i have lost an opportunity last week. i couldn't say if it will go up continuously or will it still go $34k again. indicators are still unsure though. analysis of other traders agrees that 34k is the bottom, the other says its not. one thing is for sure. stablecoin.