BTC Sentiment Poll for May

[yudi09]

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.

https://i.imgur.com/QIOOl38.jpg

I concur with chart options going sideways in May.
Speculation for the April close missed $30k as what happened was the April close cost $29,362.
This sideways movement will continue for some time if prices compare April close to May open prices and the current price is barely a margin.

Amid speculation that the price is moving sideways, there is still optimism that attempts to go above $30k like the April highs will last a little longer.
Traders certainly need to even have prepared strategic planning from now on if an increased trial occurs and is able to last a little longer.

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[lixer]

Why creating similar thread again after we have started one: Month of May. Bitcoin price guess. Join discussion on the thread instead.

Next time, you do not even need to use search engine, just scroll down the speculation board to know if anyone has posted such a topic before thinking of creating one. Today is the first day of new month, you will see it among the topics that has been created on the first of new month and likely would be at the top of the page one on speculative board.

No offense but it seems that @tokeweed has been creating his own thread every x month and trying to get the sentiments of the members here.

For me I voted for bullish though, although we might have a minor correction in the last 24 hours. And could be trading sideways at the start of this week. Nevertheless, investors now are bullish just like the first 4 months and maybe we can break that $30k price again and then maintain it this May. It's good to see this kind of correction this early so that many can get in and fill their bags. So hopefully, we can reclaim $29k-$30k again.

Such corrections tend to create panic among buyers who bought just some points below where it is or where it's going. For the current price, the buyers around $25k might start panicking with a thought in their minds that their investments will lose value if the price drops below the point where they've bought and that can cause selling pressure.

That pressure can make this minor correction a bit of a major one and whales and bears will of course do their best to use the situation for their benefit and push the price further down so that they can get a cheaper price to refill their bags.

[beerlover]

I also remembering hearing this theory in 2019 when Bitcoin was at around $5K after a months worth of consolidation, but instead it continued to increase up to $14K by June, so not convinced this theory is that reliable for an asset like Bitcoin, even if relatively reliable for traditional markets. In contrast, the S&P did indeed have a correction followed by consolidation in May 2019 until around October.

I'm not suggesting Bitcoin is going to increase by 150% within the coming months like in 2019, but that this may well be the time Bitcoin decouples (further) from stocks and traditional markets if they are to enter a period of consolidation or correction. This decoupling is what could lead Bitcoin to increase again dramatically as investors who flee from stocks take an interest in Bitcoin instead, similar to 2019.

Not many theories are reliable because not everything that happened in the past will happen in the future, it may, or maybe it won't so we are just making predictions and guesses here and these are all purely assumptions. Obviously if you want to invest, you would need to do that, because if you do not try to predict, then how are you going to invest.

Every person who ever invested has made some type of prediction and that should be the case here as well, I believe it would be a lot better in the long run. I know that's not going to be easy at all, it will take a while but at the end of the day it is going to be an easy deal, and should be considered as a good profit if you could just buy and hold for example, that's a prediction too, and easy one at that as well.

[boltz]

Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

[el kaka22]

It looks like there is a bit of undecided feeling in the market. A lot of people said down, a lot of them said up. When it is like this, usually the downs win because ups can't make it go up by themselves but downs can.

It is easier to make bitcoin go down, you do not need money, the bitcoin is there already, you just have to sell it, but making it go up is higher, because the money is not there to buy that bitcoin, so it doesn't get bought up that easily, it takes time and it requires all of the market to think the same. So if up gets 90% of the votes then it will get up, but if downs get even if like 50% they would make it go down, it will not be that simple and it should not be a good deal. I hope that it will do well in the future, but this month may become more stagnant if this voting is any indicator.

[Husires]

After the Fed continues to raise interest rates by a 0.25%s rate hike, to be higher than 5%, I expect the continuation of testing 26k and 24k as support levels throughout this month, with the absence of any possibility of a green candle that promises us to the levels of 30k.
The pressures in the coming days are at 27K. If they do not hold, we will not see 30K during the current month at least.

[LogitechMouse]

As long as Bitcoin will stay above the 200 Weekly Moving Average, I will remain bullish on Bitcoin thus, I expect Bitcoin to surpass the $30,000 at least this month, and stay above it.

Current supports are at the $27,000 level and the $24,000 level which is the 200 Daily Moving Average. I always use the 200 MA, and for sure most traders and TA users as well because that indicators tells the trend of a coin, and in this case it's Bitcoin. Looking at the chart some have posted here, in the last 2 years, the month of May has been very harsh to users as we have seen double digit negative returns.

Well, we've seen Bitcoin going up in the first few days of the month after it going down to as low as $27,000. Anyway, I'm still bullish regardless of what happen unless it goes down below the 200 Daily or Weekly Moving Average then I will change my sentiment.

[adaseb]

It seems that whenever some bank collapses Bitcoin seems to rally. Right after the fed meeting, the shares for PACW tanked like 60%. So most likely we will have another collapsed bank this weekend. There were others such as WAL which also tanked.

So there is a good chance we might get half a dozen banks which collapse and Bitcoin will definitely rally due to this news since banks obviously aren’t safe to keep your funds. Will be an interesting month.

[Kadal Ijo]

Today the market can go up about 2% and has reached $ 29k, of course it makes us even more optimistic that the market will skyrocket soon, if in April we fail to continue to rise hopefully May will be a good start for recovery, if this week it can return to $ 30k so I'm optimistic that by May the price can reach at least $40k.

[tokeweed]

Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

Looking very bearish right now?  It's really looking like it's holding its recent gains even though there's a lot of bad stuff going on with the economy.  But yeah, I'm with you with the feeling that it could go down at any moment this month.  The question is how low will it go and if BTC claws back the lost ground right away.  I mean the momentum has to slow down at some point and it looks like it is now.

Anyway, hard to know what really happens with BTC and most of the alts.  Some memecoins are doing well tho.  PEPE is almost at 1 billion USD market cap.  And in just a couple of weeks too.  Crazy...   

[dragonvslinux]

Even if there are few votes on the poll , I'm surprised to see people actually voting for Bitcoin going up in price during May. May I ask , why ? What is the reason behind this ? Personally I think it's just pure hope and nothing more because Bitcoin is looking very bearish right now and another dropping in price might happening this month.

Bitcoin had several chances in the last 2 months to actually surpass and hold the 30k line but it failed every time to hold the price. This is why I prefer 2024 as the bull run right after halv happens.

Looking very bearish right now?  It's really looking like it's holding its recent gains even though there's a lot of bad stuff going on with the economy.

Indeed. I don't understand the concept of price looking bearish when price is in a bullish structure, even if it is at resistance level. Last month there was bearish potential when price lost $28K accumulation/distribution zone, but then it was reclaimed within a few days that completely nullified any bearish outlook. Now this Month has turned green again with the move back above $29K:



I get that price could reverse at any moment despite the bullish consolidation over the past 5/6 weeks, but so far the bears have yet to prove that lower prices are coming. I also thought price might revisit $25K/$26K, even $23K at worst, but clearly the bears have failed to move prices below even $27K over the past two months with instead bulls have been buying prices below $28.5K on this time-frame.

Needless to say, the bulls remain firmly in control of the trend, despite the potential for a correction at any time - that is always the case in any bull or bear trend.

[batang_bitcoin]

Anyway, hard to know what really happens with BTC and most of the alts.

Maybe this is just part of the cycle that we usually see when we're heading to the halving. It's hard to know if some news do really affect it or it's basically the cycle that moves on its own and while it shows some bearish patterns, it won't be long until bitcoin recovers rapidly after that awaited low comes.

memecoins are doing well tho.  PEPE is almost at 1 billion USD market cap.  And in just a couple of weeks too.  Crazy...   

That's what these meme coins are for and I guess after this crazy hype that PEPE is building, all of the profits of everyone who's wise enough will put it eventually to Bitcoin as they know that it's the best place to put it before the halving comes.

[ilovealtcoins]

Bitcoin is approaching $30k this morning, and a break of $30k is almost certain this month. But I still remember the saying "sell in May," so I will be more careful instead of expecting another bull run in bitcoin. I still predict by the end of May, we are still under $30k. May is usually a bad month for the market.

[bbc.reporter]

That's what these meme coins are for and I guess after this crazy hype that PEPE is building, all of the profits of everyone who's wise enough will put it eventually to Bitcoin as they know that it's the best place to put it before the halving comes.

I very much agree on this prediction and I reckon we can certainly also say that much of these memecoin profits will also go to Ethereum, Binance smartchain and the other bluechip tokens, where they will be safer from the big dump of Pepe hehehehehe. This is why I am with team up. Everyone will be in shock on what is going to happen in the cryptospace market in these next months.

[$crypto$]

memecoins are doing well tho.  PEPE is almost at 1 billion USD market cap.  And in just a couple of weeks too.  Crazy...  

That's what these meme coins are for and I guess after this crazy hype that PEPE is building, all of the profits of everyone who's wise enough will put it eventually to Bitcoin as they know that it's the best place to put it before the halving comes.

This is a meme coin that is hyped because it will be listed on Binance it is hype that is making it even higher overnight I saw a nearly 130% increase and lots of high profits to be made from hoarding this meme coin I see capitalists on Coinmarketcap have touched 1.2M now on the rank 42 CMC with a very strong community of course.If they put profits into Bitcoin then it will be even bigger to get later, soon they will face a halving in less than a year. They have to be wise that bitcoin is one of the places where profits are stored there.

I think there is a thousand percent profit that has been achieved if they place BTC then there will be more value held by BTC as ownership of its portfolio.

[bitterguy28]

 :/

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

Looking to the movement now and the days past at least almost a week not as april?
this is the result  and that is what happens in May now

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

for me it will go down this may , but will recover in June or at least August .

Momentum happens several time this month but never goes back to 30k now and that is the indicator that market will valued again .

memecoins are doing well tho.  PEPE is almost at 1 billion USD market cap.  And in just a couple of weeks too.  Crazy...   

That's what these meme coins are for and I guess after this crazy hype that PEPE is building, all of the profits of everyone who's wise enough will put it eventually to Bitcoin as they know that it's the best place to put it before the halving comes.

This is a meme coin that is hyped because it will be listed on Binance it is hype that is making it even higher overnight I saw a nearly 130% increase and lots of high profits to be made from hoarding this meme coin I see capitalists on Coinmarketcap have touched 1.2M now on the rank 42 CMC with a very strong community of course.If they put profits into Bitcoin then it will be even bigger to get later, soon they will face a halving in less than a year. They have to be wise that bitcoin is one of the places where profits are stored there.

I think there is a thousand percent profit that has been achieved if they place BTC then there will be more value held by BTC as ownership of its portfolio.

How many Meme coins that we have seen who has climbed like this? but eventually drops badly and now stays behind many coins?

be realistic and mature in dealing because losses will be there.

[CageMabok]

Bitcoin is approaching $30k this morning, and a break of $30k is almost certain this month. But I still remember the saying "sell in May," so I will be more careful instead of expecting another bull run in bitcoin. I still predict by the end of May, we are still under $30k. May is usually a bad month for the market.

That's not a saying that everyone has to obey, because basically in terms of buying and selling it's really not related to any month. Even though the facts are visible at this time Bitcoin is still declining and is under $30K, but that does not mean that everyone has to sell this month and buy another month. I agree more with buying at certain moments and selling at certain moments because selling is to make a profit after buying at the bottom.

[tokeweed]

So...  What's going on with BTC this time?  Lol.  I see that the fees have been extremely high which could start a lot of people getting annoyed.  Whales might be picking up on this and they start selling down and wait for a better scenario..?  Dunno.  I guess what I would do if I was a whale would be to open a short postion then sell off my holdings and get the price down.  So I profit in USD from both moves.

Anyway here are the support ranges I'm look at.  27k, 25k then 20k.  After that would be back to 16k or so...  dragonvslinux critique me if I'm wrong.  Thanks.

[dragonvslinux]

So...  What's going on with BTC this time?  Lol.  I see that the fees have been extremely high which could start a lot of people getting annoyed.  Whales might be picking up on this and they start selling down and wait for a better scenario..?  Dunno.  I guess what I would do if I was a whale would be to open a short postion then sell off my holdings and get the price down.  So I profit in USD from both moves.

Anyway here are the support ranges I'm look at.  27k, 25k then 20k.  After that would be back to 16k or so...  dragonvslinux critique me if I'm wrong.  Thanks.

What an invitation 

$27K is indeed the support of the 6-week long range, there's no denying that. 200 Week MA is at $26K, but also within a big volume gap, so not convinced it would hold as support in a hurry (but possibly on Weekly time-frame). Indeed $25K could be old resistance turned into new support. There isn't a lot of volume to support that theory imo, only the 20 Week MA that admittedly price found strong support from back in March.

I'd say $23K is the under-estimated support zone, as it's where most of the volume is until you get to about $21.5K, as highlighted below. It effectively became the strongest accumulation zone after $20K.



Also note how price previously found support from the 200 Day MA and volume support at $20K. Now the 200 DMA is rising and close to reaching $23K where the next volume support is. The 50 Week MA has also finally flattened out (after 17 months of bear market decline) and is priced at $22K, so I wouldn't rule this out either as a bounce point, for anyone who has waited a year a half before gaining exposure again.

[bitterguy28]

So...  What's going on with BTC this time?  Lol.  I see that the fees have been extremely high which could start a lot of people getting annoyed.  Whales might be picking up on this and they start selling down and wait for a better scenario..?  Dunno.  I guess what I would do if I was a whale would be to open a short postion then sell off my holdings and get the price down.  So I profit in USD from both moves.

it is an obvious act from whales nowadays ,
this is the highest Fee increase that I ever experience , higher that what we had back in 2017-2018 that the congestion really brings so much increase in fees.
the Mempool is being spam and what would be the true reason behind this?

Anyway here are the support ranges I'm look at.  27k, 25k then 20k.  After that would be back to 16k or so...  dragonvslinux critique me if I'm wrong.  Thanks.

now that we starts to drop again , falling from 28k+ down to 27 now and slowly falling .

Bitcoin Price CMC
Wondering how much we can expect as the fees are continuously increasing day by day?