Bullish and Bearish Limit !!!

[AakZaki]

Here's an anti-mainstream Bitcoin chart that follows the line I've set.

Bitcoin price has decreased for several days without exceeding a predetermined limit, here is an illustration of a 1D chart.

currently the price of Bitcoin has not been able to penetrate the Fibonacci 0.382 at a price of $39,600 at the MidleTrend Bull line, where the Fibo 0.382 is part of the 1/2 DIP. if the continuation of this bull continues past the price of 39600$ then the next target will touch the next fibo at fibo 0.5 at the price of 41250$.

While on the Downtrend side there is fibo 0.618 (38750$) which is the strongest part and will be the price determining part of the downtrend and the confirmation limit if the downtrend really occurs at 37600$ if it continues to fall then the next possible target price for the next fibo in a downtrend is around 36200$.

What do you think?

[hugeblack]

Unless there is a breach of 47k price, we will remain in the price range at its top about 44k and the bottom at 38k, and therefore we are at this bottom, the price tends to rise at the beginning of the month, so I would likely witness a new test of the 47k, if we do not succeed in breaking it, perhaps We are back to 32K levels.

There are no options currently available, all of them depend on the strong psychological barrier at 47 thousand and the $1 trillion barrier, the rest of the levels are to make the price move within a certain price range.

[Tytanowy Janusz]

Damn there is too much on this chart Zoom out and chill out



thats the only 2 lines I need. Analysing every bar of single short term correction trying to find out if 38k is the bottom or 37k or maybe 33k will only lead to headache. I know .. I've been there. Chart open 24/7 and white hairs in early 30s.

[Yamifoud]

The market is really hard to predict...
I've prepared to have a buy option at $38k and it's filled out already, I thought that was the last drop but it goes down deeper. I was thinking of another buy option at $35k, this seems to be my last option, otherwise, I take a break for a while if this decline continues.

Perhaps, the market is going in a zigzag pattern, yet, it is still not sure when it pumps. And trying to look at the chart closer at hourly change, it is obviously in a downtrend.

For now, I didn't check my portfolio, I feel worried if I check it regularly. And stop trading for a while.

[Marvell1]

For now, I didn't check my portfolio, I feel worried if I check it regularly. And stop trading for a while.

Kaka, to be honest I'm in the same situation as you. I don't dare to check my portfolio, my portfolio is 50% bitcoin, the other 50% altcoins.
Bitcoin drop I don't see a problem because I have absolute faith in bitcoin, I feel worried when altcoins are bleeding quite a bit. So I also don't check my portfolio at the moment to avoid bad decisions. I will continue to monitor the market and I will continue to fill up bitcoin and only bitcoin.

[adaseb]

It depends on how the stock market does next week. Most likely if we keep getting bad earnings then most likely it will drag Bitcoin down also and it will end up breaking that pivot.

Or since everything is majority oversold there is a good chance we will get a dead cat bounce next week and we will get some relief. However with the situation in Ukraine and China still unresolved I don’t think it will be a bullish May month.

[Dave1]

It depends on how the stock market does next week. Most likely if we keep getting bad earnings then most likely it will drag Bitcoin down also and it will end up breaking that pivot.

Stocks is not doing great last April and it reflects on bitcoin as well.

And I agree that most likely this trend will continue this May, so for those who still in denial that we are in a bear market. Better accept that fact so that you can move on and make adjustments otherwise you might be disappointed at the end of the year.

We are just hanging on the next support of $38k, if this is broken, then we might be in for a new lower lows.

[Husires]

It depends on how the stock market does next week. Most likely if we keep getting bad earnings then most likely it will drag Bitcoin down also and it will end up breaking that pivot.

Since when was there any kind of correlation between the stock market and Bitcoin? And what stocks are you talking about, are all of them or technology stocks?
Bitcoin is not related to stocks or gold, but news may affect the price because of the FOMO, which is caused by small speculators, but there is nothing to prove any relationship between them.
Even the Russian war on Ukraine did not affect Bitcoin compared to stocks, whose performance was disappointing.

[ajochems]

Most people think,the war had affected the bitcoin price huge.But the price of the bitcoin was not affected the huge after the Russia move towards the crypto currency.The war had created the economic crisis in most of the world economy.So the economic changes was happened by the war.The price of most of the stocks and gold was affected the huge in this war as compared to crypto currency.

[adaseb]

Well we got our monthly close and it looks awful. Basically there is no wick and I don’t think there was ever any red candle like this. What this implies is who sell pressure and means that Bitcoin will most likely head lower.

Most likely we won’t get an immediate reverse and turn bullish. I think we need to retest those pivots and see if the lows hold this time and eventually hoping that the $28K area doesn’t get broken.

Either way going to be a big week since the fed is raising rates this week by 50bps. Wonder how the markets will react.