I think Bottom is gone

[raybucks]

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume



tell me if i am wrong or right experts

[1715530118]

1715530118

[1715530118]

1715530118

[1715530118]

1715530118

[1715530118]

1715530118

[1715530118]

1715530118

[franky1]

the bottom is set. it still sits at ~$15k and the speculative market could test that again
i dont see it going below that again(unless multiple months of hashrate being below 2022 levels). its set and tested well, but the price can come back down to/near that again.
but chances are lower than q3-q4 2022 now the $17k resistance (top for period) has gone

the speculative market was held artificially below a $17k top resistance by some futures traders wanting their new years $17k limit contracts to expire at new year.
and now they have removed the resistance to free speculation to trade above it.

however too early to call "bull"
last year saw resistance also at $22k $24k $32k $42k $52k
so we have to see where the next resistances(tops for period) come
(at time of posting: last 7 hours see an artificial flatline of <$21k .. this could be the next resistance if it doesnt break through soon)

as for market cap number.. its a meaningless number. dont put any emotion or thought into it.

[mindrust]

It appears so for now but we will never know for sure. What if another bad thing happens tomorrow and bitcoin/stocks make a nosedive? To be honest,I think technical analysis is bullshit. Anybody can draw any line on any chart. Yours isn't an exception. Everybody says something according to TA but there is no one TA, everybody makes their own. People were saying bitcoin was cheap when it was $30k, then it went to $15k. According to them $30k was the bottom. Where are they now? Making new charts.

[Rikafip]

tell me if i am wrong or right experts

I am far from expert, but I find it interesting that after this pump you immediately changed your opinion and now you think that bottom is in. Wouldn't those who manipulate the market want people to think exactly that, in order to maximize their profit?

I would like to be wrong but somehow I don't think that we are out of the woods yet and I think that it is still possible that we go down more.  

[franky1]

It appears so for now but we will never know for sure. What if another bad thing happens tomorrow and bitcoin/stocks make a nosedive? To be honest,I think technical analysis is bullshit. Anybody can draw any line on any chart. Yours isn't an exception. Everybody says something according to TA but there is no one TA, everybody makes their own. People were saying bitcoin was cheap when it was $30k, then it went to $15k. According to them $30k was the bottom. Where are they now? Making new charts.

lines on charts are not technical analysis.. its being a "trend anal"

there is far superior ways of calculating bottoms outside of the spot market using real technical fundamentals of bitcoin real data

when it was $30k mid 2022 it had good support due to mining.. then mining got more efficient and hardware cheaper that summer pretty quick meaning they could sell 2x cheaper and still profit

we are now in the era of higher electric compared to last year and mining farm electric contracts of 2021-22 are going up, (their contracts last 6months-2 years) so expect costs to increase (as long as hashrate doesnt crash)

[autumnleaf]

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume

https://ibb.co/HhJdtvJ

tell me if i am wrong or right experts

This is the chart that the OP has posted for viewing.



I'm still a novice in this field of analysis, but if you want my opinion, I'd say it's too soon to recognized the bottom of the BTC price. Although recent positive news about Bitcoin has caused the green line to appear, there are still a lot of things that could happen in the coming days or week.

[Plaguedeath]

and daily chart is looking bullish according to technicals with high volume

I don't see any technical which you refer, it's just a pure random line bullish trend draw. If you think high volume trading is another thing of bullish trend, just look on the previous months where Bitcoin price is below $20K, why the pump doesn't start from July last year? the volume is similar like the the last few days!

We're still 14 days in this year, there's next 351 days where Bitcoin price will down due to FUDs, government ban Bitcoin, top exchange got hacked, etc.

[Nrcewker]

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

First of all no hate man, but people like you always greed for more and they miss the golden opportunity to buy the Bitcoins and complain later. Many crypto veterans have said, if you are able to buy Bitcoins anywhere under 20k usd, then consider yourself lucky and buy as many as possible, but still when Btc was at 16k usd, many people argued and waited for more down price of Bitcoins. Now they have to buy the coins at 21k usd and will regret for less profits. Bear market is almost over we can say. Sit tight, Bitcoins to the moon.

[kryptqnick]

I don't believe in technical analysis and I think the current improvement might be temporary (there've been similar periods during the bear market of 2018-2019, I believe), but it does look very good. It would be lovely if the bottom was indeed reached earlier. After all, it was already quite low, around 5 times lower than the ATH. That being said, in the previous bear market, the ATH was almost $20k, and the lowest point was $3200, so around 6 times lower than the ATH. Thus, of course, there's no guarantee that at some point something won't hit harder, but for now, let's enjoy the beautiful green of positive price movement.

[franky1]

I don't believe in technical analysis and I think the current improvement might be temporary (there've been similar periods during the bear market of 2018-2019, I believe), but it does look very good. It would be lovely if the bottom was indeed reached earlier. After all, it was already quite low, around 5 times lower than the ATH. That being said, in the previous bear market, the ATH was almost $20k, and the lowest point was $3200, so around 6 times lower than the ATH. Thus, of course, there's no guarantee that at some point something won't hit harder, but for now, let's enjoy the beautiful green of positive price movement.

2011-12   32-3  ~10x
2013-14   1200-150 ~8x
2017-18   20k-3.2 ~6x
2021-22   70k-16k ~4x

next one may correct softer, not harder

[fuguebtc]

Not only you but I see many people change their opinion so quickly, I won't be surprised when next month the price of bitcoin drops and many people continue to change their opinion on the price of bitcoin. We should not jump to conclusions or believe that we are entering a bull cycle just because bitcoin is up 15% in the last 10 days. This is an impressive gain but for bitcoin, it's not a big thing, bitcoin can increase 15% in 1 week but can also drop 20% overnight. Still should be careful with everything, maybe this is just a trap.

[cryptomaniac_xxx]

We still have a full year to go though, so it's hard to see where the bottom is. That's what we said when he wit $17k last year, and that is the bottom and we we're not going any lower than that.

Unfortunately, the FTX happen, so we went as low as $15,500.

Although we are currently in the $20k'ish, still doesn't mean that it will not go down. Don't want to sound negative, but who knows, maybe this is just a fake break out.

[raybucks]

yes, this is not technical , just a trend lines by elliot numbers

I done technical in other profile of trading view

[Crypt0Gore]

This is a relief rally I believe, technical analysis is most times incorrect, my advice is do not rely on them, in crypto space never say never, I will still keep some USDT aside just in case, before I can say the word 'bottom is in" we will be sighting BTC halving few weeks away.

Right now the bottom is not in, we can still see a big decline so do not rush in to buy some coins.

[franky1]

yes, this is not technical , just a trend lines by elliot numbers
I done technical in other profile of trading view

you done a chart with lines on it too. just putting (1)(2)(3)(4)(5) at the elbows of the lines does not make it technical

can you explain your elbows without referencing a mart price pattern or market history.

is there any detail about 1-5 thats not market related data
is so please list why YOU chose those 5 points and explain each point and we can see if they have any foundations

or if your ok to admit your lines are just trend anals.
care to show the "other trading view profile" which you do wish to call technical analysis where you can explain the sources

[investdatasystems]

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume

https://ibb.co/HhJdtvJ

tell me if i am wrong or right experts

In an Ichimoku reading, on the weekly chart the Chikou span still has some obstacles to get above and the price has not closed above the kijun sen line yet. So it is still "downtrend" in a pure Ichimoku reading.

Also, the price is still below the Ichimoku cloud = Downtrend.

https://s3.tradingview.com/snapshots/d/dPCy92gy.png

[348Judah]

Strong hands are holding bitcoin

https://twitter.com/MemeingBitcoin/status/1614078515791511552?t=QjGOss-szIo5pmsMvpxkYQ&s=19


Bitcoin is neverbgone but the strong hands were holding, i congratulate those that has made it in within the last few weeks before the price begin to rise, though it has suffered a while been dip but the resistance limited has been taken off the way for it to taste $21k after ba little while, the bottom of $15k may not be revisited for now, the bull is set to begin and this is a first indication to that but we still have a long way to go towards the halving.

[Eternad]

Hello,

My View about bitcoin was on january 1st that this is not bottom and bitcoin with fall further ,
but watching this rally today and yesterday i think bottom is gone , the marketcap of crypto is up by 150billion,
850 bilion to 1 trillion

and daily chart is looking bullish according to technicals with high volume

https://ibb.co/HhJdtvJ

tell me if i am wrong or right experts

You’ve got a really nice drawing for the Elliot wave cycle. I knew that the adrenaline due to the hype makes you become optimistic like this. You maybe right or wrong about this but this kind of impulse pump usually end to a sharp down which the Elliot wave usually didn’t occur on this scenario.

There’s no expert that can predict what’s gonna happened because there’s always 2 possible scenarios that can happened. One is a double top and the other one is what you are predicting. I really that your chart will happened as better preparation for the upcoming Bitcoin halving next year. It will be good if the market is on the positive side when this big happened for greater chance to hit new ATH.

[livingfree]

If it's about opinion or predictions, you may be wrong or right with it. As I'm not an expert, you're not the only one who have anticipated that the bottom isn't in.

Right now the bottom is not in, we can still see a big decline so do not rush in to buy some coins.

It's most likely that we've already seen the bottom but the resistance is strong. Therefore, as much as the pump happens, there's the counterpart of it that a big decline is likely to follow.

[Yatsan]

Indeed the increase at the present with the market value of Bitcoin and other cryptocurrencies are promising, especially from being down for quite some time. At first I thought that crossing $20k ceiling would be the start but not to be a pessimist; seeing the rally to be continuous is still hard. There's nothing supporting the increase we are currently seeing which makes the buying pressure not as strong with what we have saw before. Thus, riding the wave is somewhat scary to do. On my end, I will be waiting for a more visible trend line because I might end up being crushed in the middle if ever there will be a sudden downfall with the market given how unexpected the increase was.