BTC Sentiment Poll for March

[tokeweed]

Dragonvslinux made a good post in the Feb sentiment thread about how BTC ended up mostly neutral with the smallest monthly gain...  But he also said that there were a couple of spots when it closed the month the same way and went on to go up the next month.

So what do you guys think?  Up above 25k USD by end of March or still below it?

Here's how monthly chart ended for Feb.

[Oshosondy]

Before you post, especially about bitcoin monthly speculation, it is good to check if anyone else has posted about it, this topic is just 4 topics always from yours

Price guess for March

[tokeweed]

^  Been doing these threads since last year and I would like to continue doing them.  Thanks.

[Tytanowy Janusz]

So what do you guys think?  Up above 25k USD by end of March or still below it?

Above. I'm short term bullish (next 2-3 months). The recovery we already had is nothing compared to amount of pain we have had before. We did not even hit a 0.236 fib lvl yet (long term from top to the bottom). There is a lot to space to go up even if its not the beginning of new bull run and we are about to see a new lower low few months after.

[dragonvslinux]

Dragonvslinux made a good post in the Feb sentiment thread about how BTC ended up mostly neutral with the smallest monthly gain...  But he also said that there were a couple of spots when it closed the month the same way and went on to go up the next month.

For anyone interested in that end of Feb analysis based on the monthly candle, aside from the neutral outlook and bearish/bullish factors:

Officially this is otherwise the smallest loss/gain candle recorded on Bitcoin monthly chart. Last time there was a doji similar to this was January 2017 or otherwise March 2012, prior to further upside.

To me the candle resembles more 2012 than 2017, as price was still down -85% from ATH after bouncing from the lows (-93%), as opposed to 2017 just below ATH. What followed was a +1% monthly candle lol.

So what do you guys think?  Up above 25k USD by end of March or still below it?

Based on February close, I'm relatively neutral again now with bears & bulls failing to move prices higher or lower by the end of the month, until there is further confirmation with a price move in either direction.

There is strong bearish divergence on Daily chart that's difficult to ignore, as well as continued rejection from bearish trending 50 Week MA currently at $24K (third consecutive week now), so I do think if $23K support will break then the next level of support is around the 200 Day MA at $19.8K. But otherwise if bulls can reclaim $24K in the coming days/weeks, then breaking $25K towards $30K seems much more likely.

So while that is pretty vague, I do however think that if price can break $25K then we could easily have another +40% move to $32K, as it would confirm February candle as a consolidation/continuation doji, as opposed to a trend reversal / bullish exhaustion candle. The irony being it's too early to tell until there is confirmation in either direction imo, even if bears might have the upper hand in the short-term.

[AverageGlabella]

Above but I think it might hover around $25000-27000 for the remainder of the month. $30000 will be the next hurdle we need to jump and I expect a few months of resistance before going on a small bull run leading into the new year. I think that is a realistic expectation but who knows positive news or negative news might propel us in another direction.

[fzkto]

The monthly candle looks very optimistic, bouncing back from support. I don't know if the market will be positive in March, but technically it all looks good to me. I hope the crypto world won't have any more big scams and we will have a smooth uptrend to halving followed by a bullish run. But I'm looking at this March positively.

[OgNasty]

I would agree with those saying that Bitcoin will likely rise from here.  I think this is probably the last dip to buy into before the price rises above $25K and makes a run at $30K.  Still just the beginning of this bull run which I believe probably has 2 years to run from here, but if you're a catch the bottom kind of guy you already missed it at $16K and you're about to miss your last chance to buy in below $25K.  Sure, there may be a few dips here and there but make no mistake about it, this market is headed to over $100K in the next 2 years and it's not about how cheap you can buy in, it's about how much you can buy before it happens.

[_BlackStar]

Sure, there may be a few dips here and there but make no mistake about it, this market is headed to over $100K in the next 2 years and it's not about how cheap you can buy in, it's about how much you can buy before it happens.

That's the hope now, $100k on the way.
Negative sentiment about the current market is also starting to set in so some worries are emerging among traders and holder. I don't have the best idea other than hold and hold and ignore the negative sentiment, however it is good to stay optimistic about the future. Although we can't say for sure how much it will cost in the next 1 to 2 years, but we are already prepared for the possibility.

[hugeblack]

So while that is pretty vague, I do however think that if price can break $25K then we could easily have another +40% move to $32K, as it would confirm February candle as a consolidation/continuation doji, as opposed to a trend reversal / bullish exhaustion candle. The irony being it's too early to tell until there is confirmation in either direction imo, even if bears might have the upper hand in the short-term.

I thought that breaking the barrier at 28K would be the hardest, as it has been a bottom for a long time since the barrier of 19K was broken for the first time several years ago.
In general, if this happens during the next few months, the price has not lost much if we measure it within a year.
I tend to keep the current price as it will be between 23k-24k.

[erep]

I thought that breaking the barrier at 28K would be the hardest, as it has been a bottom for a long time since the barrier of 19K was broken for the first time several years ago.

I don't think it's necessary to compare prices with the last few years, but the start of the new year has given indications of a high price recovery, this year the $25k area has broken and currently the market is correcting due to the previous increase, so the $28-30k barrier will be reached on the next recovery high and price will cross $25k within this month, I believe in that prediction.

In general, if this happens during the next few months, the price has not lost much if we measure it within a year.
I tend to keep the current price as it will be between 23k-24k.

I assume $20k is the lowest support area and hopefully don't reach it, if price range doesn't drop below $23k during correction phase then most likely price will increase significantly in next few days market signal will be waiting for bull market and forecast Q1 for this year we will see prices above $30k.

[goaldigger]

We might see some corrections for this Month and I think its already happening, if we are able to hold on the price of $20k then we might survive the first quarter on a better price level.

I’m still bullish and see that candles as a good one for Bitcoin, we might not see any bottom price anymore probably we are just waiting for this correction to stop before pumping again.

[Yamifoud]

So what do you guys think?  Up above 25k USD by end of March or still below it?

The market has not yet performed so well last month but at least it beat the $20k and was able to keep the strength.
I'd still not thinking this March will give us a surprising trend but probably be the same as February - it grow slowly. Well, I hope we can reach $30k before the end of 1st quarter this year and I consider it a great development of the market. Because we don't need to have a fast recovery but what we need is consistency as we still reach the $50k, $60, and more in the coming days...

[dragonvslinux]

So while that is pretty vague, I do however think that if price can break $25K then we could easily have another +40% move to $32K, as it would confirm February candle as a consolidation/continuation doji, as opposed to a trend reversal / bullish exhaustion candle. The irony being it's too early to tell until there is confirmation in either direction imo, even if bears might have the upper hand in the short-term.

I thought that breaking the barrier at 28K would be the hardest, as it has been a bottom for a long time since the barrier of 19K was broken for the first time several years ago.
In general, if this happens during the next few months, the price has not lost much if we measure it within a year.
I tend to keep the current price as it will be between 23k-24k.

I understand what you're saying about $28K as it is the start of the resistance, but this resistance (based on volume) is spread quite far between $28K and $40K it turns out.



I guess my point is price can get rejected anywhere between $28K and $40K based on volume, but if we were to take an average from this, it'd be around $34K. By comparison, there appears to be a lot more volume between around $16.5K and $24 than than $30K to $40K for example, so for me the idea that $28K will act as any meaningful resistance (if price is to reach there soon) seems quite unlikely imo.

The bullish outlook would be that there are clear skies above $25K based on volume profile, because most of the volume is just below as opposed to above. As a reminder as well, back in 2019 with price at $5K there was a lot more volume above around $6K and $8K than below around $3K to $4K, but none the less price was able to move above this resistance all the way to $14K as if the resistance was insignificant.

So overall, I take any resistance between $30K and $40K with a pinch of salt, because compared to 2019 $6K to $8K resistance level, it looks barely significant (volume wise at least).

[hugeblack]

So overall, I take any resistance between $30K and $40K with a pinch of salt, because compared to 2019 $6K to $8K resistance level, it looks barely significant (volume wise at least).

Your words make sense. Thank you for giving a technical view and giving a technical analysis of what you are trying to predict. I would be surprised if we went back to 30,000 levels during the year, but anything is possible.

[dragonvslinux]

So overall, I take any resistance between $30K and $40K with a pinch of salt, because compared to 2019 $6K to $8K resistance level, it looks barely significant (volume wise at least).

Thank you for giving a technical view and giving a technical analysis of what you are trying to predict. I would be surprised if we went back to 30,000 levels during the year, but anything is possible.

Your welcome! I guess for me 2019 took me by surprise, I wasn't expecting Bitcoin to get back to $6K levels let alone reach $14K, so trying to mentally prepare for that possibility this time around. First a foremost price needs to get above $25K, without that, I don't see any breaking of $30K to $40K towards $50K. As maybe price instead just stays between $15K and $25K for rest of the year due to MtGox coins getting released.

[Dave1]

And with that we have a minor pull back again to $22k'ish -5% in the last 24 hours.

It was reported due to the Silvergate trouble, every crypto related services are trying to distance themselves with and probably the regulatory pressures from the US itself. So let's see, it's not a massive correction, and we can still carry and break $25k this March in my opinion. The resistance though might be higher or strong because of this negative news.

[Kemarit]

I'm one of those who voted No,

- market seems to be losing it's bullishness, we had like 4-5% slump in the last 24 hours.
- I want to be bullish, but seems to be that maybe the buyers are really pressure right now

But let's see, hope I'm wrong, (although majority of my predictions are wrong anyway  ). 

[pooya87]

I still think the world economy is in too much of a ruin and it is affecting bitcoin market for us to see any kind of major rally, in other words smaller rises are more plausible. We also have a good signal from past months where price broke the major resistance at $20k and successfully stayed above it for this long which shows the demand for bitcoin is still there and increasing.
This is why I voted yes, I believe we can creep up above $25k and head for $30k. That is unless something majorly negative happens again.

[Popkon6]

The price of Bitcoin suddenly went down. The only reason why the price of Bitcoin fell today, Friday, March 3rd, according to the latest data, is Silvergate Capital Cryptocurrency, a bank. This Silvergate bank shocked the entire cryptocurrency industry. The crisis of confidence has led to a suspension of filings with the US Securities and Exchange Commission (SEC). Because of this, I think today's Bitcoin market is suddenly a step down.

Every time the price of Bitcoin starts to rise, there is a bad news.  However, the possibility of Bitcoin price crossing 30k in March is very unlikely. Currently the price of Bitcoin is 22.4k dollars. But the possibility of Bitcoin price increasing is very high.