Bitcoin Breakout

[laredo7mm]

The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.

[coolcoinz]

I'm not one of bullish maximalists,who are expecting 100K,250K or a million dollar Bitcoin price.We should be happy with a 50K price.Greed is always a bad advisor,just like fear.

LOL. I expect those prices, what happens is that I do not expect $1M in 6 months, but we will gradually reach those prices, I am sure of it, and it is not a matter of greed or fear. It is a matter of fundamental analysis. Today there is nothing better than Bitcoin to store and transfer wealth, especially in large quantities. And bitcoin is even more useful in the environment we find ourselves in, with rising inflation, tax hikes and governments with a tax collection drive that borders on confiscatory.

Regarding the OP, I hope to see more of his predictions around here to see if he gets it right more times, showing that it is true that he is a good chartist.

I've seen this happen many times where we reach a breakout, but the community is in such disbelief that they actually sell into this breakout, ignoring the fact that it's in fact a reversal, the beginning of a new trend. They keep selling, price keeps crawling up and after a while they all realize it's indeed a bull run, at which point they all start buying again with the fiat money they have lying around on their accounts from selling early and this is the point where we start going up like crazy.
The moment when the smart money is in and the street that was selling all throughout the correction and into the early reversal switches stance and injects additional fiat into the market when there's already a shortage of supply.

I'm waiting for a supply squeeze of the decade and believe me, if we go to 60k it's going to come, because last time we were between 60 and 70 there was much more coins on the market for people to buy. Now it's going to be less, but with similar or even bigger demand.

[VikingMaster]

Being a trader and being an investor are 2 completely different things. Both can be successful but a trader (if he is good) can actually do better.

There is an example that I use all the time that shows this to be true. In 2014, there was a stock that had bullish fundamentals. It was trading at 21.50 when I first discovered it and I bought it at that price. The stock moved up as high as $41 but onne year later on the same date, the stock closed at 28.50, meaning that an investor would have made about a 30% profit for the year (not bad at all). I am not an investor but a trader and as such, I traded that stock 18 times that year. I shorted the stock 11 times and bought the stock 7 times and I had 11 profitable trades and 7 losing trades. After commissions and losses were subtracted, my profit was $35 per share (versus $7 per share of the investor). I made 5 times more money trading than the investor holding.

Probably the most famous and "true" story is of a guy I met in 1984 that had purchased a seat on the Chicago Board of Trade in the Bond market. In other words, he was trading on the floor and there trading every day (as many as 50 times a day - in an out). He started with $25,000 dollars and in 2 years he had made $200 "million" dollars.

A good "trader" can make a lot more money than a buy and hold investor.

[crzy]

The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.

Exactly, the history will always repeat and now Bitcoin looks to break every resistance and on a good position right now at the price of $48k. We will not drop that much again, the trend will continue and we should watch the market because for sure altcoins will follow the trend. Bitcoin is vert bullish right now, hope that taking profit should not happen yet so the price can go further.

[barbara44]

The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.

I think that is because the beginning of April is also the start of the second quarter. Usually the more that we are close to the third and fourth quarter, the more the increase we are going to feel. If I am not mistaken there was a bull at November but the bear takes place in the beginning of December and lasted march, that's only 4 months or 120 days not 150 days but it was still a long wait. Many of us almost gave up during that time.

I think it's now time for us to experience the opposite thing. A long lasting bull would be enough to make us all happy. By the time btc cross over 45k, I think we can still consider that as a breakout but pretty sure it won't go down anymore.

[Viscore]

Nonetheless, this breakout is a signal that the downtrend is over, meaning that now the bulls can buy with more confidence.

I'm not 100% sure that the downtrend is over, no one can be sure about that, but what is impressive is that bitcoin is above $45k in this current climate. People complain about the price, they except $100k asap, blah blah blah, for me seeing bitcoin at this value despite the inflation and a war it's just crazy. Crazy good of course.

The price may suddenly goes up or down, that is how volatility works. So i don't believe that this downtrend will be over even if bitcoin price reaches its $50k level. Of course, it opens a great opportunity that bitcoin might be heading its way to bull season, but it does not guarantee that it won't fall again. But i'm glad that the current value is now starting to be impressive and it could go even higher if there are positive events in the market that will happen soon.

[STT]

A good "trader" can make a lot more money than a buy and hold investor.

A good trader is actually a rare thing as I understand it.  Most people in the market lose 50% of their trades but the important part is they have the discipline, training and experience to know when to quit so their average loss is less then the average gain they see and that constant positive difference adds up to alot as you said its alot compounded every day; not that a trader profits every day I dont recognize that can always be the case.
   You should also represent that active trading is an 8 hours job at least, not to mention all the background work outside of live trading hours also.   Work equals more money then passive investment gains, so it should.  Last thing is the most natural trader I know personally, as in not a company is somebody who wakes every day at 5am to study trends overnight and then proceeds similarly never relenting for the rest of the day.  I lack the mental fortitude to honestly say I could do that learn and practice regularly for years.

[batang_bitcoin]

Being a trader and being an investor are 2 completely different things. Both can be successful but a trader (if he is good) can actually do better.

A good "trader" can make a lot more money than a buy and hold investor.

I agree at both statements. But there are also more successful holders and they're consistently doing that. In the end, whichever strategy you're doing great and better, stick to it.
Change your plans if they're no longer working on you and you just have to be adaptable with any market situation because it's still you that will decide whether there's a breakout or none or we enter bears or bulls, you'll still be the one suffering or winning your trades and investments.

[Fatunad]

Being a trader and being an investor are 2 completely different things. Both can be successful but a trader (if he is good) can actually do better.

A good "trader" can make a lot more money than a buy and hold investor.

I agree at both statements. But there are also more successful holders and they're consistently doing that. In the end, whichever strategy you're doing great and better, stick to it.
Change your plans if they're no longer working on you and you just have to be adaptable with any market situation because it's still you that will decide whether there's a breakout or none or we enter bears or bulls, you'll still be the one suffering or winning your trades and investments.

Profitability would really depend on how you do trade and making out decisions which its a must thing for a trader for him to sustain this unpredictable market.We've been staying in 40k price level for a while now and the
price we do have currently is trying out to climb which is a good indication that we might able to break 50k soon and starts up to recover and might able to break out its previous ATH.
For now to those people who had accumulate in 40k+ or lower then they had made out some profits as of this moment but for long term holders then this isnt an issue most of the time.

[Slow death]

Nonetheless, this breakout is a signal that the downtrend is over,

I still think it's too early to draw that conclusion, the price just reached $47000 and it can stay between $44000 to $47000 for a long time, I've seen it many times, that's why I don't think it would be wise to buy at that level and say it's safe

meaning that now the bulls can buy with more confidence.

like I said, I wouldn't be so sure about buying at this level.

[uneng]

Next resistance level is indeed 50,000$, but it's hard to say if the bulls' time has finally arrived again. We've already seen bitcoin reaching close to the mark, and the closer it reaches, the harder it is to break the resistance.

As I see the charts, on the last hour there is a strong decline in btc price, responsible for $500 decreasement already. By tomorrow, let's see where this tendency is going to take bitcoin.

[batang_bitcoin]

Being a trader and being an investor are 2 completely different things. Both can be successful but a trader (if he is good) can actually do better.

A good "trader" can make a lot more money than a buy and hold investor.

I agree at both statements. But there are also more successful holders and they're consistently doing that. In the end, whichever strategy you're doing great and better, stick to it.
Change your plans if they're no longer working on you and you just have to be adaptable with any market situation because it's still you that will decide whether there's a breakout or none or we enter bears or bulls, you'll still be the one suffering or winning your trades and investments.

Profitability would really depend on how you do trade and making out decisions which its a must thing for a trader for him to sustain this unpredictable market.We've been staying in 40k price level for a while now and the
price we do have currently is trying out to climb which is a good indication that we might able to break 50k soon and starts up to recover and might able to break out its previous ATH.
For now to those people who had accumulate in 40k+ or lower then they had made out some profits as of this moment but for long term holders then this isnt an issue most of the time.

If those were just little amounts, they might not feel the profit because the more amount they've accumulated in bitcoin, the better returns that they shall get.
But still, profit is profit and they only have to wait until when they're ready to take profits as that's what they need to have when the price seems to be perfect already in selling.

[Silberman]

Bitcoin is in the process of generating a breakout today (Sunday). A close today above 44569 will be the highest close in over 2 months and will break a triple top that has been built during this time in that area. Bitcoin is presently trading at 46667 at 7:00pm Sunday. The next resistance area is at the 50,000 level. Nonetheless, this breakout is a signal that the downtrend is over, meaning that now the bulls can buy with more confidence.

Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle.

[Falconer]

Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle.

We can all expect bigger bulls in the longer term, but we can't guarantee that the downtrend has passed by now. The increase over the last 2 weeks guarantees nothing because FUD is always on the market, so it will only be enjoyed if you don't want to buy. While I might consider selling it for a profit after buying it when it went down a while ago.

Right now the bitcoin price is $47K, it's pretty close to $50K and there may be hope that it will break through in a few days.

[fzkto]

Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.

[Zanab247]

The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.

Exactly, the bitcoin breakout will last long to enable traders to make enough profit from their long term investment. This is the opportunity many traders has being waiting to see to believe that we are finally out from bear market. The price of BTC will stay above $50 before it will finally move to $100 before the end of this year 2022. According to researchers the price will not dump through out this month to allow long term traders to benefit from their trading.

[ultrloa]

Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.

People speculation is positive so I guess we could really hit that mark as there are so many good news happening on bitcoin as well many people are eyeing to get some to hold for future since bearish days is I think over after some crisis happen in the world. I think the news about Russia using bitcoin for their daily transaction is one of contributing factor on why we see this rise and people find it positive as this is discuss over the mainstream.

[STT]

At this point we can expect a pullback but the distance it travels first before slowing is why I avoid being negative preemptivily.   Here is the longer term chart as I see it and it did add up to bullish outlook a fair while back because of how we handled the lows:


We've just passed about 38% of the recovery from that ATH sell off and 50k if we got there would be about 50% fittingly, also 50k also fits well into prior lows and high prices for weekly bars over the last year.    I put most significance behind the 200 day or yearly average and what direction that has but also 50k could be a good fit that means we level off there.   At some point immediate gains reduce and profits will be taken hence a pullback but its best not to guess weakness too much before it appears, overall the situation is strong.

[dunfida]

Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.

People speculation is positive so I guess we could really hit that mark as there are so many good news happening on bitcoin as well many people are eyeing to get some to hold for future since bearish days is I think over after some crisis happen in the world. I think the news about Russia using bitcoin for their daily transaction is one of contributing factor on why we see this rise and people find it positive as this is discuss over the mainstream.

The question is,is it really the reason on why bitcoin did make out some significant move or increase into its price? Considering on the rise percentage then it isnt really something that big to consider but at least we are

seeing some good recovery and trying to reach out that 50k but with this kind of gradual increase then it wont be taking too long on seeing those numbers but of course it would be still need to push up even more further.

Im not really that making myself on expecting too much because this could always be a bumpy ride where assurances would not fit out on that behavior.

[BuNga_cute]

Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle.

We can all expect bigger bulls in the longer term, but we can't guarantee that the downtrend has passed by now. The increase over the last 2 weeks guarantees nothing because FUD is always on the market, so it will only be enjoyed if you don't want to buy. While I might consider selling it for a profit after buying it when it went down a while ago.

Right now the bitcoin price is $47K, it's pretty close to $50K and there may be hope that it will break through in a few days.

As many people predicted Bitcoin is finally starting to recover, and now it only takes another 31% increase to get back into the ATH price.
This means that the price of Bitcoin is getting closer to returning to the ATH price, almost all investors welcome this. But as you said, we still
have to be vigilant, knowing there is still the possibility of the Bitcoin price going down again. Because no one can guarantee the bearish trend is
over, indeed a wise move if we have bought Bitcoin since the price of Bitcoin fell below the price of $ 40k. Then now with Bitcoin rising to
the price of $47k decided to sell some of the Bitcoins we have, to be able to make a profit. So if the price of Bitcoin goes back down we can buy
Bitcoin again, but if it turns out that Bitcoin continues to rise and even reaches the price of $50k at least we are still holding some of our Bitcoin.
But there are people who decide not to take profit now it's not a problem, because after all Bitcoin will always be profitable for long-term investments.