Bye Bye Bear Market :)

[bbc.reporter]

@Jating. Here is another news update from Asia and it is another one in Hong Kong hehehe. I am beginning to speculate that China will open up again, however, this time it might only be through Hong Kong then slowly open Shanghai.

Another country to observe where billions will come from is Dubai and maybe also the countries around the the middle east. Dubai has started welcoming Defi and Web3 projects to continue development in their jurisdiction.



Interactive Brokers (IBKR) has begun offering cryptocurrency trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.

Eligible clients include individuals with over 8 million Hong Kong dollars (US$1 million) in investable assets and institutions with over 40 million Hong Kong dollars ($5 million).

Interactive Brokers and OSL's aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds and so on.

Source https://www.coindesk.com/business/2023/02/15/interactive-brokers-rolls-out-btc-eth-trading-to-professional-investors-in-hong-kong/

[1715158211]

1715158211

[Jating]

@Jating. Here is another news update from Asia and it is another one in Hong Kong hehehe. I am beginning to speculate that China will open up again, however, this time it might only be through Hong Kong then slowly open Shanghai.

Another country to observe where billions will come from is Dubai and maybe also the countries around the the middle east. Dubai has started welcoming Defi and Web3 projects to continue development in their jurisdiction.



Interactive Brokers (IBKR) has begun offering cryptocurrency trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.

Eligible clients include individuals with over 8 million Hong Kong dollars (US$1 million) in investable assets and institutions with over 40 million Hong Kong dollars ($5 million).

Interactive Brokers and OSL's aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds and so on.

Source https://www.coindesk.com/business/2023/02/15/interactive-brokers-rolls-out-btc-eth-trading-to-professional-investors-in-hong-kong/

And my speculation is true then, we have seen the price going as high as $24,650 in some exchanged, so it's good enough for me. We might hit weekend that might slow down the growth. But hopefully we can be just staying in this upper bound price so that next week $25k will be in the horizon.

It's going to be a big retest for us, because of we pass this test, then $30k is going to be easy, in my opinion.

So let's hope that the bulls are going to make a push for this month.

[Maslate]

It's going to be a big retest for us, because of we pass this test, then $30k is going to be easy, in my opinion.

So let's hope that the bulls are going to make a push for this month.

That's a big test for Bitcoin to break. It's not the current ATH, so I think it will not be hard to break that price as long as we are in a bullish mode already. We've seen Bitcoin dump in the past few days after it had a little bullish run, but now it's a new price, the highest this year already, so I would understand if it does excite us.

We can only hope that the bear market is over because, in the bull run, even if we were not able to accumulate during the bear market, I'm pretty sure that there are still plenty of opportunities to make money ahead.

[bbc.reporter]

@Jating. Here is another news update from Asia and it is another one in Hong Kong hehehe. I am beginning to speculate that China will open up again, however, this time it might only be through Hong Kong then slowly open Shanghai.

Another country to observe where billions will come from is Dubai and maybe also the countries around the the middle east. Dubai has started welcoming Defi and Web3 projects to continue development in their jurisdiction.



Interactive Brokers (IBKR) has begun offering cryptocurrency trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.

Eligible clients include individuals with over 8 million Hong Kong dollars (US$1 million) in investable assets and institutions with over 40 million Hong Kong dollars ($5 million).

Interactive Brokers and OSL's aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds and so on.

Source https://www.coindesk.com/business/2023/02/15/interactive-brokers-rolls-out-btc-eth-trading-to-professional-investors-in-hong-kong/

And my speculation is true then, we have seen the price going as high as $24,650 in some exchanged, so it's good enough for me. We might hit weekend that might slow down the growth. But hopefully we can be just staying in this upper bound price so that next week $25k will be in the horizon.

It's going to be a big retest for us, because of we pass this test, then $30k is going to be easy, in my opinion.

So let's hope that the bulls are going to make a push for this month.

You are correct! The retest has presently started already. There is also a weakening of the pump. I have not looked at cryptocoin charts many times since the beginning of the bubble pop, however, the RSI and the price have shown a bearish divergence since the first week of February.

I speculate this retest might show the opposite where bitcoin might create a higher low and RSI will create a lower low. A bullish divergence hehehe.

[Fredomago]

It's going to be a big retest for us, because of we pass this test, then $30k is going to be easy, in my opinion.

So let's hope that the bulls are going to make a push for this month.

That's a big test for Bitcoin to break. It's not the current ATH, so I think it will not be hard to break that price as long as we are in a bullish mode already. We've seen Bitcoin dump in the past few days after it had a little bullish run, but now it's a new price, the highest this year already, so I would understand if it does excite us.

We can only hope that the bear market is over because, in the bull run, even if we were not able to accumulate during the bear market, I'm pretty sure that there are still plenty of opportunities to make money ahead.

If there's a continuous market movement and bull will dominate the market then yes, there's always a good chance to earn from the market, it's more on how you understand the situation and how you believe that you can make some decent when buying and holding your asset till it brings you decent amount of expected profits.

Keep in mind that it's your assessment and observation that will bring you the opportunity to earn while investing in this industry.

[Jating]

@Jating. Here is another news update from Asia and it is another one in Hong Kong hehehe. I am beginning to speculate that China will open up again, however, this time it might only be through Hong Kong then slowly open Shanghai.

Another country to observe where billions will come from is Dubai and maybe also the countries around the the middle east. Dubai has started welcoming Defi and Web3 projects to continue development in their jurisdiction.



Interactive Brokers (IBKR) has begun offering cryptocurrency trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.

Eligible clients include individuals with over 8 million Hong Kong dollars (US$1 million) in investable assets and institutions with over 40 million Hong Kong dollars ($5 million).

Interactive Brokers and OSL's aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds and so on.

Source https://www.coindesk.com/business/2023/02/15/interactive-brokers-rolls-out-btc-eth-trading-to-professional-investors-in-hong-kong/

And my speculation is true then, we have seen the price going as high as $24,650 in some exchanged, so it's good enough for me. We might hit weekend that might slow down the growth. But hopefully we can be just staying in this upper bound price so that next week $25k will be in the horizon.

It's going to be a big retest for us, because of we pass this test, then $30k is going to be easy, in my opinion.

So let's hope that the bulls are going to make a push for this month.

You are correct! The retest has presently started already. There is also a weakening of the pump. I have not looked at cryptocoin charts many times since the beginning of the bubble pop, however, the RSI and the price have shown a bearish divergence since the first week of February.

I speculate this retest might show the opposite where bitcoin might create a higher low and RSI will create a lower low. A bullish divergence hehehe.

And quick as we go to higher highs of $25k yesterday, the dump that follow forcing the bears to retreat and we retest $23,600 again. But still good though, after the retest, we are back to $24k and above. So it might take some time again to see $25k, as this is the biggest barrier to break and maintain.

So we will see if the divergence will create a lower low, but it seems not going to happen at least at the end of the week. $25k is too weak though, we need more momentum if we wanted to stay on that price or reach higher this February. Still very exciting month maybe another green candle again.

[BITCOIN4X]

So we will see if the divergence will create a lower low, but it seems not going to happen at least at the end of the week. $25k is too weak though, we need more momentum if we wanted to stay on that price or reach higher this February. Still very exciting month maybe another green candle again.

You're right $25K is too weak right now. I'm not sure why $25K didn't last for more than 24 hours, but either way the selling pressure and traders panicking to take profits gave us a correction afterward. But I don't know what momentum you're talking about, it should be interesting to know that investment interest in 2023 has good and has left the bear market behind for a recovery.

The cash inflows in the last 24 hours still appear to be down based on my monitoring on multiple exchanges, so this is evidence that there is some high selling pressure since the $25K was broken.

[darewaller]

I dont disagree but the retest is where I have more confidence.  The low prices more then the high prices is where I find accuracy is best given for prediction and the backbone to trends.    We do have weekly, 50 and I hope soon 200 day averages moving upwards.   When all that is true is best to be biased to the upside but I wont assume just yet, sincere optimism seems totally correct but I'll wait this month out and some.
   So breaking this downtrend line is good, but once we have also pulled back yet kept this former regular negative as the very lowest price then I find we are very likely with positive bias.

With the way things are now, I am pretty sure that we are not in the bear market right now. People think that it should be 60k+ before we are out of the bear market because we fell down, but as long as we are not in a red market that means we are not in the bear market.

Considering the huge amount of money that is going into bitcoin lately and the way we quickly go up, it is a proof that we are no longer in the bear market anymore and we should be quite happy with the way it is right now. I know it is not going to be as simple as just "hey forget about the year and a half long bear market and be happy" because that takes time, but reality doesn't wait for you.

[darewaller]

The retest has presently started already. There is also a weakening of the pump. I have not looked at cryptocoin charts many times since the beginning of the bubble pop, however, the RSI and the price have shown a bearish divergence since the first week of February.

I speculate this retest might show the opposite where bitcoin might create a higher low and RSI will create a lower low. A bullish divergence hehehe.

That means higher low could get it higher in the next run. I know that it is going to be something to wait for, but if we stay at above 23k, that means the next time we have an increase like this, reaching above 25k would be easier, and eventually if we fail that too, we are going to have even higher low and keep doing that until we are just right at the door of 25k and reject going down, which would be awesome for all of us.

I know it is not that easy to make these kind of predictions and charts are not always right, but that is what we have to face in order to accept the future, that's just how awesome our future looks and there is nothing to worry about getting a little hyped.

[STT]

Its bad luck to say such things, everything is possible always when BTC has this much volatility dont upset the gods of luck that roll the dice on these things.
  We do have a negative trend right now short term but I hope it will resolve upwards without too much go around.



Volume occurring with the positive action, in theory we should bear well entering into next week.   There is more then just this slight trend, also the weight of some yearly averages, however thats an estimate of momentum perhaps not actual resistance.    Apprehension and selling is likely to reappear all the way through 20k to 30k but it'd be good to see the repeat attempts, higher lows etc.

[thecodebear]

Not bye bye yet. The resistance at the top of the bottom range of the market is at $25k. Bear market ain't over until it breaks through that and shoots past $26k and up.

There's also the possibility that even if it does break out of the bottom soon and the bear market ends there could be more nasty stupid SEC attacks on crypto in the coming weeks that could knock the price back down to this $24k/25k level.

[bbc.reporter]

@thecodebear. You might be correct because if the speculation that Asia is presently pumping bitcoin from the bottom, the Asian traders might be rotating their trades to other coins. However, the altcoins that they might be rotating to might not be the common altcoins where the American and European traders rotate to. If you check the coins in Kucoin, presently the coins that are pumping more than 10% in 24 hours are projects that were created in China, Singapore and Vietnam.

In any case, for the people from Asia, how is the economy in your country? Is it slowing down similar to the economies of Europe and America? If it is not, then I am more certain on the speculation that Asia will begin the bull market and America and Europe will catch the bubble pop hehehehe.

[Joshapat]

Currently the price is around $24500, and I think we are still in a bear market, if we compare it to the ATH that has happened the price is $24500 around 38%, but the achievements in 2023 make us have to be optimistic that 2023 can be better than 2022, it is natural that many those who dare to speculate that this year can create new ATH again so we have to invest and hold until the price passes ATH in 2021.

[beerlover]

I dont disagree but the retest is where I have more confidence.  The low prices more then the high prices is where I find accuracy is best given for prediction and the backbone to trends.    We do have weekly, 50 and I hope soon 200 day averages moving upwards.   When all that is true is best to be biased to the upside but I wont assume just yet, sincere optimism seems totally correct but I'll wait this month out and some.
   So breaking this downtrend line is good, but once we have also pulled back yet kept this former regular negative as the very lowest price then I find we are very likely with positive bias.

If you are still not entirely sure about being out of the bear market or not, just look at the movements not the price. Sure the price is high, but it could drop any moment, that's not the reason we are out of the bear market. What's the movement? It's up first then down but then up again. That means we go up, and if we ever go down, we quickly recover and go back up.

It was 24.5k, then dropped, and went back to 24.5k within a few days at most, maybe in 24 hours or 48 hours, which is very quick. That tells us that we are no longer dropping, back in bear market it would be down first then a bit up and down again, because the movement was bear, but now it's not bear anymore.

[Silberman]

I dont disagree but the retest is where I have more confidence.  The low prices more then the high prices is where I find accuracy is best given for prediction and the backbone to trends.    We do have weekly, 50 and I hope soon 200 day averages moving upwards.   When all that is true is best to be biased to the upside but I wont assume just yet, sincere optimism seems totally correct but I'll wait this month out and some.
   So breaking this downtrend line is good, but once we have also pulled back yet kept this former regular negative as the very lowest price then I find we are very likely with positive bias.

If you are still not entirely sure about being out of the bear market or not, just look at the movements not the price. Sure the price is high, but it could drop any moment, that's not the reason we are out of the bear market. What's the movement? It's up first then down but then up again. That means we go up, and if we ever go down, we quickly recover and go back up.

It was 24.5k, then dropped, and went back to 24.5k within a few days at most, maybe in 24 hours or 48 hours, which is very quick. That tells us that we are no longer dropping, back in bear market it would be down first then a bit up and down again, because the movement was bear, but now it's not bear anymore.

It was that quick recovery what finally convinced me that we were out of the bear market already, as that kind of quick recovery is very unlikely to happen when the market is bearish and instead is a sign that the bulls are back, now this does not mean I expect a dramatic growth in the price of bitcoin during the rest of the year, but at least things are not going to be as bad as they were during 2022 and it is very unlikely we are going to see yet another bottom.

[Jating]

Currently the price is around $24500, and I think we are still in a bear market, if we compare it to the ATH that has happened the price is $24500 around 38%, but the achievements in 2023 make us have to be optimistic that 2023 can be better than 2022, it is natural that many those who dare to speculate that this year can create new ATH again so we have to invest and hold until the price passes ATH in 2021.

Unfortunately there is a big retest in the last 24 hours, bitcoin is down 2-3%. And this still validates that we are still the bear market. And that this increased in price is just what it is, no push or momentum to $25k

I think though as we are getting closer to the halving, the market might improved a bit this year.

But the best is yet to come when we can really say bye bye bear market and that is after the block halving.

[fadhilz123]

Currently the price is around $24500, and I think we are still in a bear market, if we compare it to the ATH that has happened the price is $24500 around 38%, but the achievements in 2023 make us have to be optimistic that 2023 can be better than 2022, it is natural that many those who dare to speculate that this year can create new ATH again so we have to invest and hold until the price passes ATH in 2021.

If you speculate like that, in my opinion it is a little exaggerated because the current price of Bitcoin is still very far from the ATH that was created on Bitcoin in 2021. And personally I am also still very optimistic about Bitcoin which will be better this year than the previous year, but I don't think that a new ATH will be created easily this year considering the current state of the Bitcoin price. So hoping for something more realistic this year is much better than expecting things that are too big but may not necessarily arrive this year.

[Silberman]

Currently the price is around $24500, and I think we are still in a bear market, if we compare it to the ATH that has happened the price is $24500 around 38%, but the achievements in 2023 make us have to be optimistic that 2023 can be better than 2022, it is natural that many those who dare to speculate that this year can create new ATH again so we have to invest and hold until the price passes ATH in 2021.

If you speculate like that, in my opinion it is a little exaggerated because the current price of Bitcoin is still very far from the ATH that was created on Bitcoin in 2021. And personally I am also still very optimistic about Bitcoin which will be better this year than the previous year, but I don't think that a new ATH will be created easily this year considering the current state of the Bitcoin price. So hoping for something more realistic this year is much better than expecting things that are too big but may not necessarily arrive this year.

Those which desire to get a new all time high during this year are letting their feelings to take over their ability to reason, a new all time high cannot be reached until the halving has already passed, and since this is not the case then we must simply accept the price of bitcoin will not reach those levels, however not all is lost, bitcoin is hovering near the 24k level and it seems we are going to remain there for a long time, giving a great buying opportunity to those willing to hold their coins for that long.

[salad daging]

Unfortunately there is a big retest in the last 24 hours, bitcoin is down 2-3%. And this still validates that we are still the bear market. And that this increased in price is just what it is, no push or momentum to $25k

I think though as we are getting closer to the halving, the market might improved a bit this year.

But the best is yet to come when we can really say bye bye bear market and that is after the block halving.

Momentum to $25K took a very short time to get there and now it's a correction at the bottom of $24K and this is actually the same as in January trying to break above the level and now it's the same maybe a few weeks it will be like but most likely we will see above $25K as a support point.

The difference between the year before and now is still not the time to say because this is only in the early phase of the year and the first quarter is not over yet but if you look at it it is indeed better than before and we also cannot conclude goodbye to the bear market because the current situation is really unpredictable but at least for the lead up to the halving many investors are confident to hold their bitcoins.

[STT]

The top action does appear to be confirming as a short term top.   The greater the touches of a trend line the more likely  its correct and to be respected in resolution is a fair rule and its probably done as much now.


I do think this is a lesser time frame movement so not as important and wider moves over a greater time but of course nobody likes to see the move up fail.  It did look like 30k might have been possible but for this month 25k is probably it and we need to check support and levels below in a rough range fencing in BTC price as it turns arounds its previous negative trend over months.