BTC Sentiment Poll for May

[Captain Corporate]

We were a bit closer to 29k back when the month started, but looking at how we moved from lowers to highs and back to lows again during April, I am guessing that it may happen again, I know we have only few days left but lets see what happens during the weekdays. Its at around 27k right now, a bit lower, and I am guessing that 28k is not as out of reach as people think. We may reach those levels and we may do better. I hope that we do, its going to be very crucial for us to see it grow as much as possible, it will definitely help us a ton. I know a lot of people will be considering this as a way to make some money so buying at this time and selling when it goes up would be a good idea and should be fine in the end.

[Smack That Ace]

()
maybe some big changes to come before the end of the year or the start of at least new year, because halving is coming and yes this is game changer .

Historically, the halving has been a game changer, but if I remember correctly, the bull season will only come a while after the halving, the bulls will only come a year later. If things repeat, we won't have the positive movement many are expecting with the halving. I remember, when bitcoin recovered from $3k to $12k in 2019, and before the halving, bitcoin also dropped to $4k again. If history were to repeat itself, more people would be disappointed than excited about having to wait another year.

Yes, it's after the halving, maybe it will take weeks or months, but per history tells us that it will definitely going to happen. The price did go down to $3k that time in March due to covid-19 and then the halving occur in May, then after that the price goes up on a parabolic rise.

So there could be factors that time that might have affected the price going down hard before the halving. And we don't know if we will have that parameters soon, maybe another black swan event? We don't know.

And as far as I know, a lot of investors still haven't accumulated a lot of bitcoin because they are waiting for the market to drop before the halving. They still believe that history will repeat itself, and there will still be another big dumping to give them a last chance to shop. It is difficult to know what will happen in the future, but those still waiting clearly have a reason and are betting big on their vision.

According to my opinion, I also believe that this year bitcoin can still recover to 40k-50k, but then there will be another drop to 20k. I have the same thoughts as many of those investors.

[kotajikikox]

^  Yup.  It has to go down at some point...  And it's a good thing.  There's a lot more money in the sidelines waiting to go in but hasn't had the right conditions to dive in yet.

Like what I said in a post prior, could go down around 24k - 25k, even deviate lower to 23k, before break out above 31k.

Something like this.  Forgive my squiggly line, I suck at this...  Lol.

Well , days before the end of month seems the movement is changing and yes it is uptrend now .
breaking 28k again and now positioning at 27-28k is a best act the whole month of May and if this continue to hold then June might be a positive month for this 2023 cycle.
as we have been looking for the good kick in 2024 so this changes must happen for best result .

[dragonvslinux]

^  Yup.  It has to go down at some point...  And it's a good thing.  There's a lot more money in the sidelines waiting to go in but hasn't had the right conditions to dive in yet.

Like what I said in a post prior, could go down around 24k - 25k, even deviate lower to 23k, before break out above 31k.

Something like this.  Forgive my squiggly line, I suck at this...  Lol.

This would certainly be the optimistic scenario if $26K / 200 WMA doesn't hold as support that price recently bounced from. I'm still more of a believer of $23K acting as support (which is where I have buy orders), simply because there is very little volume around $25K compared to the accumulation that occurred at $23K. Also the theory that if price makes a new low it will more more than $1K from recent low.

That said, price is currently attempting to reclaim the 200 MA on the 4hr that has been flattening out in recent days. It failed to reclaim this MA last month but potentially it will have more chance after a month more of consolidation, as well as a notable bounce from the 200 WMA last week. While price to me remains relatively neutral on shorter-term time-frames, the Monthly candle is currently looking a bit more bullish a wick to the downside that is longer than the candle body of only -5%. While this could well still signal further selling next month, it otherwise is so far confirming that there are buyers at these lower levels.

[Bitcoin2009]

May will end in about 36 hours, and I think the May price condition will be no different from April, the expectation that the price will skyrocket after March turned out to be wrong, the market continues to decline because many people are taking profits, this is because they buy when the price is cheap under $20k, so by selling at $28k they are making over 30% profit.

[Reatim]

There's a saying among old school traders that goes 'sell in May and go away' as historically May is a bad month for trading stocks and commodities.  They take this time to be in the side lines and evaluate what their next move is gonna be for the following month of June and beyond.  

As we're not really pros around these parts, it could be food for thought...  Dunno.  :/

It's looking like it's losing a bit of momentum tho.

I thought its back on trach last week but it doesn't instead it continues to maintain 27k price value things that for me is much better that continuing to fall like what happened recently when the value falls down to 15k.

May will end in about 36 hours, and I think the May price condition will be no different from April, the expectation that the price will skyrocket after March turned out to be wrong, the market continues to decline because many people are taking profits, this is because they buy when the price is cheap under $20k, so by selling at $28k they are making over 30% profit.

it is 17 hours from now and yes still the price keeps resisting to break 30k

https://coinmarketcap.com/currencies/bitcoin/

maybe this is the faith for may and we can see another changes in June as 2nd quarter will end then .

[Mario Yamasaki]

About 6 more hours of may end and i don't think bitcoin price will be any more shocks, maybe price will close at $27k level, as investors we have to get used to think positive and i think when price is cheap like now it's a good opportunity to buy again .

[YUriy1991]

I don't think this applies to cryptocurrencies like Bitcoin though. At the moment, Bitcoin seems to be losing momentum a bit especially at the end of the month like this month, Price action contains all the impact news, events & hype etc. Although Bitcoin (BTC) search volume data on Google by users has reached its highest level in the last 13 months. Source https://www.theblock.co/data/alternative-crypto-metrics/web-traffic.

[CapGelatik]

May will end in about 36 hours, and I think the May price condition will be no different from April, the expectation that the price will skyrocket after March turned out to be wrong, the market continues to decline because many people are taking profits, this is because they buy when the price is cheap under $20k, so by selling at $28k they are making over 30% profit.

We'll just see if the candle closes in May, it will be red or green, if it closes in red then we most likely see June as bearish,
but if the candle closes in green then I'm sure June will be bullish. Hopefully bitcoin will recover in the next few hours.

[fzkto]

May will end in about 36 hours, and I think the May price condition will be no different from April, the expectation that the price will skyrocket after March turned out to be wrong, the market continues to decline because many people are taking profits, this is because they buy when the price is cheap under $20k, so by selling at $28k they are making over 30% profit.

We'll just see if the candle closes in May, it will be red or green, if it closes in red then we most likely see June as bearish,
but if the candle closes in green then I'm sure June will be bullish. Hopefully bitcoin will recover in the next few hours.

I expect the summer to be good for cryptocurrencies, as it was in 2017 or 2020. Hopefully it will be a cycle if similar history repeats itself in 2023. I see no bad reason for bitcoin to start falling again. I call this May a correction after a not bad rise. Bitcoin doubled in the first quarter. It is not a bad result, but there is no growth without a correction. By the way, May is not a negative one. It was just a sideways movement this month.

[tokeweed]

^  Yup.  It has to go down at some point...  And it's a good thing.  There's a lot more money in the sidelines waiting to go in but hasn't had the right conditions to dive in yet.

Like what I said in a post prior, could go down around 24k - 25k, even deviate lower to 23k, before break out above 31k.

Something like this.  Forgive my squiggly line, I suck at this...  Lol.

This would certainly be the optimistic scenario if $26K / 200 WMA doesn't hold as support that price recently bounced from. I'm still more of a believer of $23K acting as support (which is where I have buy orders), simply because there is very little volume around $25K compared to the accumulation that occurred at $23K. Also the theory that if price makes a new low it will more more than $1K from recent low.

That said, price is currently attempting to reclaim the 200 MA on the 4hr that has been flattening out in recent days. It failed to reclaim this MA last month but potentially it will have more chance after a month more of consolidation, as well as a notable bounce from the 200 WMA last week. While price to me remains relatively neutral on shorter-term time-frames, the Monthly candle is currently looking a bit more bullish a wick to the downside that is longer than the candle body of only -5%. While this could well still signal further selling next month, it otherwise is so far confirming that there are buyers at these lower levels.

Removing all indicators and leaving just the price, from optics alone BTC daily chart looks like it's losing momentum.  The weekly chart looks fine and looks like it's accumulating.  But then again there's a fine line between accumulation and distribution.  But as I wanna be bullish, let's just assume it's accumulation for now.    As for the monthly chart dunno...  It kinda looks worse than the weekly but if ever it drops another month, let's hope 24k - 25k holds.  Would hate to see it flip and go further down to a lower range.

Anyway new thread coming...  No poll in mind yet, I need new ideas for a fun poll.  Please drop your suggestions.  Thanks. 

[dragonvslinux]

^  Yup.  It has to go down at some point...  And it's a good thing.  There's a lot more money in the sidelines waiting to go in but hasn't had the right conditions to dive in yet.

Like what I said in a post prior, could go down around 24k - 25k, even deviate lower to 23k, before break out above 31k.

Something like this.  Forgive my squiggly line, I suck at this...  Lol.

This would certainly be the optimistic scenario if $26K / 200 WMA doesn't hold as support that price recently bounced from. I'm still more of a believer of $23K acting as support (which is where I have buy orders), simply because there is very little volume around $25K compared to the accumulation that occurred at $23K. Also the theory that if price makes a new low it will more more than $1K from recent low.

That said, price is currently attempting to reclaim the 200 MA on the 4hr that has been flattening out in recent days. It failed to reclaim this MA last month but potentially it will have more chance after a month more of consolidation, as well as a notable bounce from the 200 WMA last week. While price to me remains relatively neutral on shorter-term time-frames, the Monthly candle is currently looking a bit more bullish a wick to the downside that is longer than the candle body of only -5%. While this could well still signal further selling next month, it otherwise is so far confirming that there are buyers at these lower levels.

Removing all indicators and leaving just the price, from optics alone BTC daily chart looks like it's losing momentum.  The weekly chart looks fine and looks like it's accumulating.  But then again there's a fine line between accumulation and distribution.  But as I wanna be bullish, let's just assume it's accumulation for now.    As for the monthly chart dunno...  It kinda looks worse than the weekly but if ever it drops another month, let's hope 24k - 25k holds.  Would hate to see it flip and go further down to a lower range.

Daily chart has lost it's momentum, there's no denying that. The volume has also been steadily decreasing since January which is a long-time now. There's lots of chatter about price moving up quickly from next month due to the China news, but not sure how relevant this will actually be. If anything, it'll be an opportunity for some whales to try and manipulate the market - hopefully to the upside for a change. That said, I would have expected price to already be rebounding strong if this were the case based on "buy the rumour, sell the news", as opposed to increasing once new market participants potentially appear.

A lot of people will otherwise get very worried about re-testing the lows or making new lows if $25K doesn't hold as support. I think it's this sort of fear that's needed in the market right now for price to move higher. There has been too much bullish sentiment for too many months now. We need a bear trap to the downside like in March to $20K imo in order to rebound strong. There are many waiting on the sidelines for this type of fear in the market before re-entering long positions. No doubt there will be accumulation all the way down to $25K if it get's there, but otherwise more conservative investors will be waiting for $22K/$23K imo. The former being around a 1 year average price (basically the average since the initial capitulation last year), the later as I said is a strong accumulation zone which is where I see support right now.

One issue I see is that since breaking through $25K it was never re-tested as support. Now two months have passed I'm not convinced it's an area that will find many buyers.

Anyway new thread coming...  No poll in mind yet, I need new ideas for a fun poll.  Please drop your suggestions.  Thanks.  

Maybe something to do with the China news. But otherwise the up/down/sideways is generally a good generic poll.