BTC bulls back?

[siniminomorocomunisakito]

I was thinking BTC was going to be on a down hill mostly until near end of 2023. Do you believe this is a bull trap or true recovery for next bull is now here?

I would be interested to see what you people think and why.

:3

The cryptocurrency market is very volatile and subject to significant fluctuations. Although there have been periods of bullish and bearish market sentiment, it is difficult to predict the exact timing or duration of these trends because for each cryptocurrency in terms of their underlying technology, adoption rate and use cases also have their own role, this is what I know if not wrong.

[salad daging]

The increase that has occurred since January hopefully is the start of an awakening, of course we have long been waiting for something like the beginning of this year to happen again, I'm afraid if the price continues to decline it will take even longer, sometimes the market often confuses us, if we are used to daily trading then you will understand what to do.

What do you think should be done in the current conditions? Because yesterday I saw a decrease in the price of Bitcoin and today the price of Bitcoin immediately rose again without having to wait long even though it was still under $30K. If yesterday I was surprised by the decline, now I am also surprised by the sudden increase in the market for Bitcoin and this is clearly very profitable for traders.

This sudden rise certainly surprised many because what happened so that the increase was so quickly back above $ 28K more, while yesterday's decline, there were many who took advantage of this moment. Of course, if traders take action during a correction, they can be very profitable.

It's quite optimistic that bitcoin can still survive and at least $ 30K which is a little more will soon be fulfilled in the next few days or at least this month can touch it, because I think this will be a positive trend going forward.

We look forward to whether it will rally again?

[CageMabok]

On the one hand, when the Bitcoin market increases, it feels very good, on the other hand, when it decreases, the position feels very bad. There is a lot of fear to invest as the market will fall further. Yesterday, when it moved from $28900 to $26600, it looked like the market may come back to $20k. But today I can see that the market is again at $28800. The volatility of the market really scares us a lot in investing. But the Bitcoin market is probably going to stay in the $30,000 range very soon.

I'm still pretty sure that the Bitcoin price this month can still bounce like that to a higher price as long as there's still a pretty good Volatility buying in large quantities, because while investors and billionaires are still willing to put their money into Bitcoin, the odds are on the increase Bitcoin price will always be in this year. Although I also do not really expect that to happen in the near future.

This sudden rise certainly surprised many because what happened so that the increase was so quickly back above $ 28K more, while yesterday's decline, there were many who took advantage of this moment. Of course, if traders take action during a correction, they can be very profitable.

Of course there are traders who take advantage of this momentum, because they also still have the confidence to benefit from this momentum and indeed it has proven to be very effective for those who have taken advantage of it at that time.

It's quite optimistic that bitcoin can still survive and at least $ 30K which is a little more will soon be fulfilled in the next few days or at least this month can touch it, because I think this will be a positive trend going forward.

I am also still quite optimistic that things like this can still happen to Bitcoin and that is what some traders are really looking forward to this year. Sometimes I'm also happy when I see things like this happen, even though I don't trade like them in the market. But I was also happy when I saw this moment that it also really suits Bitcoin holders who are still holding on today.

We look forward to whether it will rally again?

It is likely to rally again even though it looks like Bitcoin price movement is starting to slow down now.

[Muba20]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

[Franctoshi]

Bitcoin has spent number of days beating around $28k, And looking at the Bitcoin price Chart, it's getting weak and Exhausted at $28k and the current price of $27k forming an up C curve, most likely that we will head back down to $25k to test that support level once again if failed to break towards the up side when the CME market opens tomorrow.
As lot of people are targeting to take profit at $30k, sometimes price might not get there and get a major pull back before actually going back up to hit the price and even make more higher prices.

[fullhdpixel]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

Why will they panic? I mean for what reason? I ask because I didn't see or hear any negative news but all I can see is just a small decline in the price of BTC but we are still close to the highest this week which was $28k. This isn't something worthy to panic with but if ever there are panic that is happening, that will only be panic buying as there are still people who are rushing of filling their bags just before we reach the true bull run and there's also traders and short term investors who are taking advantage of the price volatility.

We are only in the weekend and people are less active now but wait till we return on Monday or on working days as the market will also return to normal.

[BitcoinPanther]

Bitcoin has spent number of days beating around $28k, And looking at the Bitcoin price Chart, it's getting weak and Exhausted at $28k and the current price of $27k forming an up C curve, most likely that we will head back down to $25k to test that support level once again if failed to break towards the up side when the CME market opens tomorrow.
As lot of people are targeting to take profit at $30k, sometimes price might not get there and get a major pull back before actually going back up to hit the price and even make more higher prices.

Today Bitcoin market seems to be affected by the news about CZ being sued by the CTFC,  Bitcoin price seems to react about this news and plunges a little more than 3.50% today.  Though it has somehow recovered but I think the news will still have lingering effect especially when it becomes worst.  We might see Bitcoin to revisit $26k down to $25k if the matter become worse and the market sentiment turned bearish because of the news.

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

Why will they panic? I mean for what reason? I ask because I didn't see or hear any negative news but all I can see is just a small decline in the price of BTC but we are still close to the highest this week which was $28k. This isn't something worthy to panic with but if ever there are panic that is happening, that will only be panic buying as there are still people who are rushing of filling their bags just before we reach the true bull run and there's also traders and short term investors who are taking advantage of the price volatility.

We are only in the weekend and people are less active now but wait till we return on Monday or on working days as the market will also return to normal.

Binance owner CZ had been sued and there are leaked chats that can do harm to CZ and the platform.  So this news brings uneasiness in the Bitcoin market.

[Baofeng]

Bitcoin has spent number of days beating around $28k, And looking at the Bitcoin price Chart, it's getting weak and Exhausted at $28k and the current price of $27k forming an up C curve, most likely that we will head back down to $25k to test that support level once again if failed to break towards the up side when the CME market opens tomorrow.
As lot of people are targeting to take profit at $30k, sometimes price might not get there and get a major pull back before actually going back up to hit the price and even make more higher prices.

As I have said previously, $28,500 is the big test and it seems we didn't passed that obviously, and as a result, the price did go on minor correction twice already and then attempted at least $28k which is rejected so the price goes below $27k again. However, the bulls is still in the market as we recovered on that short retracement and now the price is $27,100. I don't think that $30k will be breach this month. April is the most likely timeframe that we are going to breach that price. The game right now is that the price should steadily climb and not some weird artificial pump to $30k and higher. We should be like looking at how the month of January increases and same with the trend for this month. Let the bulls do the run ins, I know that we could be in the oversold zone, but at least we are still above 200 Moving Average Year to Date.

https://www.barchart.com/crypto/quotes/%5EBTCUSD/technical-analysis

[Franctoshi]

The price already looked exhausted yesterday and even on before the news about CZ and CFTC, all the market sentiment are just what that really used to help the market to reach its destination point. my price target is still at the $25k-$24.5k level, that level is a historical strong support level to Aggressively load up more Bitcoin , because it acted as a strong resistance so many times in the past and should also act as a strong key level for market reversal to the up side if the market gets there.

[JoyMarsha]

We are in the first quarter of 2023, which is not very close to the year's fourth quarter, and you want to know if bitcoin was going to decline until the year's close. To answer your question, nobody can predict the state of the cryptocurrency market till the year's conclusion. If a bull run or bear market is what we should anticipate.

With the current price increase I have so far observed, I can only conclude that we are just seeing a correlated price of bitcoin

[Rasa nanas]

In my opinion the price recovery that has occurred recently is only temporary, meaning that after this there is still a possibility that the price of BTC will fall again. currently BTC is only in a positive trend not bullish or halving that occurred in 2017 and 2021. This positive trend could be a bull trap but if you want long term investment you don't need to worry about this problem.

[DiMarxist]

Now the market is currently experiencing,.Remember the price always fall and rise no one can predict the position of Bitcoin.so the best thing to do is to prepare for both, when the bear market comes you risk,and when Bitcoin comes up you take advantage of the bull market.who knows if the next bull run won't break the last ATH? We can't predict what will happen next, bitcoin price, it's getting weak and Exhausted at $28k and the current price of bitcoin is $27,994.39.The price is moving $28k-$27, $27k-$28k,if forming an up C curve, most likely that we will head back down to $26k to $25.Yesterday I was surprised by the decline, but there are lot of people that targeting to take profit at $30k, sometimes price might not get there and get a major pull back before actually going back up to hit the price and even make more higher prices.

[b3j0]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

So who panicked and why panicked? I think the bitcoin price movement since the beginning of the year has been pretty good and the positive trend has been going on for a long time. although currently the bitcoin price is stuck below $30k and has difficulty breaking through $30k but in my opinion this is not a serious problem because I believe in the near future the bitcoin price will be able to penetrate $30k and continue the positive trend.

[yohananaomi]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

So who panicked and why panicked? I think the bitcoin price movement since the beginning of the year has been pretty good and the positive trend has been going on for a long time. although currently the bitcoin price is stuck below $30k and has difficulty breaking through $30k but in my opinion this is not a serious problem because I believe in the near future the bitcoin price will be able to penetrate $30k and continue the positive trend.

it's normal for someone to panic about the price of bitcoin that hasn't improved, because maybe he bought bitcoin when the price was indeed higher and the funds that were going to be turned over had not yet returned. but I also agree that there is no need to panic too much because the criterion of bitcoin is always to repeat what has been done, maybe it's only a loss at a longer time.
for the price of $ 30K already done by bitcoin now it will slowly go to penetrate $ 40K, although slowly but there is no need to worry because next year has entered the era of the halving period.

[DevilSlayer]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

So who panicked and why panicked? I think the bitcoin price movement since the beginning of the year has been pretty good and the positive trend has been going on for a long time. although currently the bitcoin price is stuck below $30k and has difficulty breaking through $30k but in my opinion this is not a serious problem because I believe in the near future the bitcoin price will be able to penetrate $30k and continue the positive trend.

it's normal for someone to panic about the price of bitcoin that hasn't improved, because maybe he bought bitcoin when the price was indeed higher and the funds that were going to be turned over had not yet returned. but I also agree that there is no need to panic too much because the criterion of bitcoin is always to repeat what has been done, maybe it's only a loss at a longer time.
for the price of $ 30K already done by bitcoin now it will slowly go to penetrate $ 40K, although slowly but there is no need to worry because next year has entered the era of the halving period.

It is not normal to experience panic especially if your goal in trading is to master the technical analysis skill. If you cannot overcome the fear and panicking the possibility of you losing your whole capital is very high so it is important that panicking is not good and it gives you signal that there is something taht you do not know yet and you can overcome it by being aware to what is wrong. The price of bitcoin recently go up and there are a lot of altcoins that up gains more than 30% in just a one day. It is a signal that the market really transitioned into bull market, today if you will look at the chart; you can see that most of the cryptos are in red because the market is retracing and we should not feel any fear or panic because it is noral because remember that the price do not go into straight line ebcause it also experience exhaustion so it needs break that is why it is current retracing.

I'm looking at $29,000 level, there is a high chance that the price may retest in this area so better to watch out and for me this is the best time to get positions because it is where the buyer resides wherein the demand is too high that may cause the price to bounce and to do some swing high. I also expect consolidation for the following days and weeks so let's see.

[Swordsoffreedom]

There is panic over the current state of the market although the overall picture is still good. But from this stage it can back down and turn bullish. So we have to wait this week to judge the next market movement. But the current range $27k is certainly a good position. Hope fully it will be positive.

So who panicked and why panicked? I think the bitcoin price movement since the beginning of the year has been pretty good and the positive trend has been going on for a long time. although currently the bitcoin price is stuck below $30k and has difficulty breaking through $30k but in my opinion this is not a serious problem because I believe in the near future the bitcoin price will be able to penetrate $30k and continue the positive trend.

it's normal for someone to panic about the price of bitcoin that hasn't improved, because maybe he bought bitcoin when the price was indeed higher and the funds that were going to be turned over had not yet returned. but I also agree that there is no need to panic too much because the criterion of bitcoin is always to repeat what has been done, maybe it's only a loss at a longer time.
for the price of $ 30K already done by bitcoin now it will slowly go to penetrate $ 40K, although slowly but there is no need to worry because next year has entered the era of the halving period.

It is not normal to experience panic especially if your goal in trading is to master the technical analysis skill. If you cannot overcome the fear and panicking the possibility of you losing your whole capital is very high so it is important that panicking is not good and it gives you signal that there is something taht you do not know yet and you can overcome it by being aware to what is wrong. The price of bitcoin recently go up and there are a lot of altcoins that up gains more than 30% in just a one day. It is a signal that the market really transitioned into bull market, today if you will look at the chart; you can see that most of the cryptos are in red because the market is retracing and we should not feel any fear or panic because it is noral because remember that the price do not go into straight line ebcause it also experience exhaustion so it needs break that is why it is current retracing.

I'm looking at $29,000 level, there is a high chance that the price may retest in this area so better to watch out and for me this is the best time to get positions because it is where the buyer resides wherein the demand is too high that may cause the price to bounce and to do some swing high. I also expect consolidation for the following days and weeks so let's see.

When the market is volatile, or we buy at a price higher than the current price, panic is normal, but if it persists, it is not normal anymore. Remember that panic is the cause of our losses.

What is happening in the markets today is a mini uptrend, not a real uptrend, and so I do not see us entering a bull season. History has shown us that the bull season is only 1 year after the halving, which means we will have a bull season in 2025. Unless history does not repeat itself and we will make new history this year, but I doubt that given the current world economic conditions.

[Pierre 2]

I honestly think bulls are back on markets. You can currently watch markets and see anytime correction happens it triggers another demand and prices can't find chance to go lower. In past, like a month-2 months ago it was completely different. People were trying to make money but bears were killing demand. Although I believe we aren't in huge bull run this year as I think its too early for one. Next year will be better.

[Franctoshi]

I honestly think bulls are back on markets. You can currently watch markets and see anytime correction happens it triggers another demand and prices can't find chance to go lower. In past, like a month-2 months ago it was completely different. People were trying to make money but bears were killing demand. Although I believe we aren't in huge bull run this year as I think its too early for one. Next year will be better.

Yes the bulls are in control now, but seem will be getting some price cool off towards $28k support level, its initial breakout point. Secondly, a bearish RSI divergent is shown in the daily, H4, and H1 timeframes are in agreement, plus a Head & Shoulder pattern currently forming on H1, which indicates that the bears wants to dominate in the short term.

[dragonvslinux]

I honestly think bulls are back on markets. You can currently watch markets and see anytime correction happens it triggers another demand and prices can't find chance to go lower. In past, like a month-2 months ago it was completely different. People were trying to make money but bears were killing demand. Although I believe we aren't in huge bull run this year as I think its too early for one. Next year will be better.

Yes the bulls are in control now, but seem will be getting some price cool off towards $28k support level, its initial breakout point.

Indeed it does seem that price wants to return to $28K in order to turn this previous accumulation zone into new support.

Secondly, a bearish RSI divergent is shown in the daily, H4, and H1 timeframes are in agreement, plus a Head & Shoulder pattern currently forming on H1, which indicates that the bears wants to dominate in the short term.

The bearish divergence on Daily time-frame is more or a "hidden divergence" (ie same RSI level with price higher high), so I don't consider it as reliable as standard divergence personally. We can otherwise overlook the bearish divergence from January and February to current RSI levels as there was already the pull-back to oversold levels on Daily time-frame when price corrected to $20K.

It's also worth noting that the bearish divergence on 4hr (that is pretty clear cut) has arguably already played out, ie the RSI has returned to oversold levels, even though it could go lower like it did last month. Similarly with 1hr and other short-term time-frames, this bearish divergence has largely already played out with the -5% correction we've seen in the past day or so.

The head & shoulders pattern is the only one left that has a target lower than already reached, around $28.6K based on neckline break, which is also conveniently around the previous accumulation zone as well as Monthly opening price. So while bears currently have the upper-hand on short-term time-frames, it might not last very long based on the correction that has already taken place.

[Sorryfor]

Since January when the price increased more than 40% then i believe that in 2023 the price will be close to ATH or even make a new ATH, this week the price has increased more than 35% and today the price is around $27300, i believe next week or this month the price will at $30k so that makes me even more excited to keep buying.

In 2022, the position of the Bitcoin price was most people's statement. All they had in mind was that the value of Bitcoin might not increase and they were completely disappointed. But 2023 started with a good position for the Bitcoin market. At the beginning of the year the Bitcoin market started to grow little by little and so far it has grown more than ever before. And in April, the price of Bitcoin touched $31k dollars, which enabled all investors to overcome their disappointment. But I think the Bitcoin market is going to turn into a bull market again so it would be best to invest in Bitcoin now without delay.