Bitcoin Breaks Bullish Trend Line?

[Silberman]

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

That is without a doubt worrying but it could be a trap, after all big players do not move in the exact same way, so while some are trying to push the price to go down there are others that are doing the opposite, any price below the 30k level is extremely attractive as it is less than half the ATH that we have reached during the previous bull run, so with this in mind this could be an attempt to try to lure the bears into dropping the price only to get a better price for themselves once they buy even more bitcoin.

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[lornadane]

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

How is it possible never to go there just looking at the charts and the current market situation is just awful.
I don't even want to look at the current bitcoin markets.
A few months ago when the war broke out, the price of bitcoin didn't fall this deep, but look at what's going on behind all of this now.

[GreatArkansas]

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

[cryptomaniac_xxx]

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

[buwaytress]

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

We don't really know anything, but that feels to me the more likely scenario than a recovery even to 40k, for the time being, anyway. Back below 30k on a weak rebound, I wouldn't say the pressure's over until we spend a few days at least above 30k. Weekend will be crucial to determine the outlook for the rest of the month but I wouldn't place my bets just yet.

[7788bitcoin]

~
Exactly! $20,000 now is the major support for me, especially this time, that's why I am not really expecting that Bitcoin could fall below that because for sure, there are already lot of buy orders lining up around that level and for sure this dump is just a temporary especially it's not only the Bitcoin market affected, it's global and other markets too.

I am not too sure what to take of this situation. If the institutional institution started selling the market would have gone down much further but the buy order started coming in when it touched around $27k. Even i do think that in the worst of situations we might even go below $20k but the alt market had a much bigger correction in the past few days.

[Silberman]

One issue I am worried about is that during the last Microstrategy conference call, they said they got a liquidation price of $21K for their Bitcoin position. This is worrying because when the bears hear those targets they will usually try and run them.

Especially since it’s still above the $20K old ATH and most likely if last years $28K breaks then it can get down to $21K pretty fast.

Depending on the state of the global markets then, they will need to liquidate a large portion of their BTC and it’ll be nasty. Hopefully it never comes to that.

How is it possible never to go there just looking at the charts and the current market situation is just awful.
I don't even want to look at the current bitcoin markets.
A few months ago when the war broke out, the price of bitcoin didn't fall this deep, but look at what's going on behind all of this now.

It has been a difficult week for all of those that are heavily invested in this market, however this crash is mostly caused by the problems that luna is suffering, after all it lost almost 100% of its value in just a few days and while some think that it may recover who in his right mind will ever invest any significant amount of money in luna after what happened? The only ones that are buying luna are those that think that it could recover and want to become rich quickly, everyone else are simply not interested in buying luna at the moment.

[sana54210]

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

[Yaunfitda]

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

We don't really know anything, but that feels to me the more likely scenario than a recovery even to 40k, for the time being, anyway. Back below 30k on a weak rebound, I wouldn't say the pressure's over until we spend a few days at least above 30k. Weekend will be crucial to determine the outlook for the rest of the month but I wouldn't place my bets just yet.

We did manage to go above $30k several times, but it was not enough to break the bearish momentum, 4 hrs ago, the price is above $30k again, but suddenly it's $29,1xxx. So not sure what happen in between, or it is just the US market opens and then speculators started to sell again causing that sudden dip. And we are going to enter the weekends again wherein the trade volume is weak.

[Silberman]

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

[Jating]

As I have said previously, this could be the capitulation if we reaches $20k at this down turn. Yeah, it will be hard and nasty for the majority and we really don't know if this will happen or not. So for now, we have somewhat in the $30k'ish again.  And maybe we won't see that day, but who knows, there are a lot of things happening globally that might affect the price negatively. But for now, if we goes above $30k, it is a good sign that the market selling pressure is over.

I do not believe that anything that big will happen because of this situation. Sure, 20k could happen but then it will go back up, there are too many walls to break to get there as well, I mean billions of dollars.

This is why I highly suggest considering the current situation a lot better. Do not lose hope that quickly just because it didn't go the way you hoped it would, this is the market we are in and sometimes crashes happen. Luna deal will be blown over soon and the market will get back to where it was (luna won't). Just calm down, hold, and wait for the bull market to come back which always does and will come back again in the near future.

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

People are taking a great deal now that the market is on the 7th straight week at red candle (and it's a record if I'm not mistaken). So we should learn to accept this so that we will not be disappointed.

And yeah, this is the sign of a crypto winter and the recovery might take some time, what I mean is that we might see another dip in the next 4 months.

[Silberman]

While we know that a recovery will happen at some point in the future, the problem for a great deal of people is how long this will take? Which unfortunately it is something that we do not know, meaning that if the recovery takes too long I will not be surprised if many people begin to sell their coins as they find other assets from which to make money or they simply leave this market while disappointed about what happened, delaying the recovery even further and forcing us to go through another crypto winter.

People are taking a great deal now that the market is on the 7th straight week at red candle (and it's a record if I'm not mistaken). So we should learn to accept this so that we will not be disappointed.

And yeah, this is the sign of a crypto winter and the recovery might take some time, what I mean is that we might see another dip in the next 4 months.

If I am not wrong something similar is happening to the stock markets so this is not something that is exclusively to this market, it seems to me that the FED increasing the interest rates may have had an impact and if to this we add the disaster that is Terra Luna this helps explains why we are seeing some correlation between the stock markets and bitcoin, however what it would take to break that correlation? That is difficult to know and it is possible we will have to wait until the next halving for this to happen again.

[jrrsparkles]

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

[Dhaniii]

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

I'm not sure bitcoin can go down to the price of $ 21k this year let alone in the second qurtal. you are so sure that bitcoin can go down again to the lowest price of $ 21k but I can only believe the last low price is currently $ 28k and will continue to stay above it.

[Silberman]

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

I think those are levels that are going to be difficult to be reached even during this bear market, we will need another Luna crashing all the way to zero for such a scenario to happen, and while we could imagine different scenarios in which something like this would be possible the chances that we see back to back crashes like that seem to be on the low side to me, still it is important to remain vigilant and keep our eyes open in the case the price of bitcoin drops once again as we may have the opportunity to buy bitcoin for a price even cheaper than the current one.

[Captain Corporate]

It should have been going up already, the only reason why it hasn't is these people who are spreading FUD and thats a big problem. I personally believe that there is nothin to fear and there is no uncertainty at all. Price went down because of FED first, then Luna happened, all these are fine and it makes sense to go down during that period and thats fine. However, just because it dropped because of these, doesn't mean that it will stay down. Bullish trend is coming up soon, we all know it, there is nothing unexpected about it and the people who end up buying right now like me will end up profiting from it.

[tygeade]

I think those are levels that are going to be difficult to be reached even during this bear market, we will need another Luna crashing all the way to zero for such a scenario to happen, and while we could imagine different scenarios in which something like this would be possible the chances that we see back to back crashes like that seem to be on the low side to me, still it is important to remain vigilant and keep our eyes open in the case the price of bitcoin drops once again as we may have the opportunity to buy bitcoin for a price even cheaper than the current one.

This is crypto world and I wouldn't be shocked if we end up with something like that, those things happen all the time and we could have another crash or another bad news that makes it go down. Do I expect it to happen? Of course not, I am expecting it to go back up, and that is probably what we are going to have and that is the thing that we should be focusing on, how we could go back up.

Just because there is a possibility that it could go down some more if something major happens doesn't change that unless something unexpected happens we would be going up again. So, just focus on the fact that we could profit very soon and make your moves accordingly.

[Kemarit]

Hold your nerves because I feel that bitcoin is breaking the 30K barrier multiple times and hard to hold the above line while its constantly touching 28K and jumping to mid 29K. So it means we are reaching the last quarter cycle and soon we may expect below 25k even too the level of 21K.

And this could be a bad sign for us, if it continue to do trade in a sideway patterns without forming any trend lines. But now it's obvious that we are in a bearish line, so most likely if this pattern breaks then it could for the worst and get to $25,000-$26,000 range. And if that happens, then others might quit crypto for good, weak hands selling because they don't like what they are seeing. So again, why not take this as a chance to buy affordable bitcoin, IMHO.

[rodskee]

Based on the chart above article[1] from coindesk stated that Bitcoin had broken the Bullish trend line.

Bitcoin's daily chart is leaning bearish ahead of U.S. April payrolls and wage-growth data that could influence market expectations about the pace of the Federal Reserve's monetary tightening.

But then after a week , Bitcoin price starts to dump and now still struggling to climb at least small from 30k but denied for week now lol.
I don't see anything that coming best in the near future or maybe this will happen till the end of 3rd quarter , meaning it can fall below 20k at some chances?
and also there are no sign of the bear stopping at any moment from now.

[Silberman]

I think those are levels that are going to be difficult to be reached even during this bear market, we will need another Luna crashing all the way to zero for such a scenario to happen, and while we could imagine different scenarios in which something like this would be possible the chances that we see back to back crashes like that seem to be on the low side to me, still it is important to remain vigilant and keep our eyes open in the case the price of bitcoin drops once again as we may have the opportunity to buy bitcoin for a price even cheaper than the current one.

This is crypto world and I wouldn't be shocked if we end up with something like that, those things happen all the time and we could have another crash or another bad news that makes it go down. Do I expect it to happen? Of course not, I am expecting it to go back up, and that is probably what we are going to have and that is the thing that we should be focusing on, how we could go back up.

Just because there is a possibility that it could go down some more if something major happens doesn't change that unless something unexpected happens we would be going up again. So, just focus on the fact that we could profit very soon and make your moves accordingly.

Obviously everything is possible, however if another coin in the top 10 collapsed in less than a month then I would begin to be suspicious about the timing of the whole thing, after all we know that altcoins are incredibly risky investment and they can collapse at any time, and in fact this is something that we see all the time, but if we got two crashes so close to each other then I think I will be very suspicious about the timing as it would seem as if someone was behind the crashes to try to discredit this market.