BTC Sentiment Poll for May

[GreatArkansas]

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.

More like "sell in May" but for the rest of the last quarter of the year, I am bullish about it. It's only a matter of time. I think we are just making a price correction because what we did last few months is extremely bullish and $30,000 was reached in just a matter of months since the 2023 year started. I am still expecting some cool down on the price this month.

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[cabron]

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.

More like "sell in May" but for the rest of the last quarter of the year, I am bullish about it. It's only a matter of time. I think we are just making a price correction because what we did last few months is extremely bullish and $30,000 was reached in just a matter of months since the 2023 year started. I am still expecting some cool down on the price this month.

So its also happening in crypto when they say sell in May and go away. There are already several cycles to follow not just the halving that dictates the bull and bear cycle. The global crisis is just the added factor which is also pushing the price down.

This memecoins and ordinals coordinates to pulling the price down as network fees keep rising. If indeed it will take days to months before the network solves itself, we'll just have to see if half of the month will turn the market in green otherwise the saying is real.

[Poker Player]

I wouldn't expect big price movements this month because of the fee hike, which in principle doesn't have to have a direct relationship: people can exchange Bitcoin for fiat or vice versa all they want but it does slow down people who want to buy Bitcoin and withdraw it to their HW or similar where they hold their private keys. The fees in principle would not matter for those who buy or sell large amounts, but I think that in scenarios like this people stay a little waiting, to see what happens, before making big moves.

[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.

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.

Mmm...  I don't think so.  It took a lot of volume to break above 25k and it could take more than the usual volume to break down below.  Dunno.  Could be BTC needs a sell off to 25k before a really strong bounce to break out above 30k just like it did when BTC went down to 20k before going up above 25k.

Anyway I feel like anything that bounces strong from 27k is a scalp long followed by anything that sells down strong from 30k is a scalp short. 

[Franctoshi]

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.

Though within some couple of days now in this month of May, the momentum in Bitcoin is on a steady decrease , which suggest we could likely get a correction soon from where we are right now, and correction is healthy for the overall market and it also means some opportunity coming to us. However I just keep my ears off some of this theories that suggest what may likely occur and have put my focus on my long term target in order not to get distracted along the line, Bitcoin will always do whatever thing it wants to do at the end of the day. I'm still HODLing.

[imamusma]

Mmm...  I don't think so.  It took a lot of volume to break above 25k and it could take more than the usual volume to break down below.  Dunno.  Could be BTC needs a sell off to 25k before a really strong bounce to break out above 30k just like it did when BTC went down to 20k before going up above 25k.

Anyway I feel like anything that bounces strong from 27k is a scalp long followed by anything that sells down strong from 30k is a scalp short.

Even if some of the support levels @dragonvslinux mentioned is a possibility, but I wouldn't consider it happening in May and June. I still see positive trend verry potential over May and June if the same pattern is repeated before bitcoin enters the third quarter of this year between July, August and September. So $30k is still likely to be broken during the second quarter now.

Of course it would take a lot of selling volume to see the $25k or $20k support hit, but I hope that won't be the case in May and June. Today bitcoin price started to bounce a bit, but still tends to be volatile despite attempts to test the $29k resistance.

[Nrcewker]

May has disappointed many, but my friend don’t lose hope, as 20 more days are there for this beautiful May. Anything and everything can happen. I am assuming that currently the price is down, only because the high transaction fees. But this will be back to normal very soon as soon as the block explorer settles down a bit, but the price won’t this time look to the fees. So we should grab as many Bitcoins as we can in this comparatively low price. If Bitcoins manages to cross 35k usd in this Month, then June will be really big for many people .

[salad daging]

May has disappointed many, but my friend don’t lose hope, as 20 more days are there for this beautiful May. Anything and everything can happen. I am assuming that currently the price is down, only because the high transaction fees. But this will be back to normal very soon as soon as the block explorer settles down a bit, but the price won’t this time look to the fees. So we should grab as many Bitcoins as we can in this comparatively low price. If Bitcoins manages to cross 35k usd in this Month, then June will be really big for many people .

After bitcoin has managed to pass $28.2K, it has now fallen to a price of $27K, I suspect that there are other factors that can cause the price of bitcoin to drop suddenly, but don't panic, in May, usually bitcoin is not very friendly, I will still expect something more positive, but maybe in my prediction in may bitcoin will not move more.

I am not sure that this month bitcoin will pass $35k in my view it is still very difficult to touch that level but at least we have to survive in any situation because what we benefit from is from taking advantage when the price drops then making regular entries.

[Crypto Library]

May has disappointed many, but my friend don’t lose hope, as 20 more days are there for this beautiful May. Anything and everything can happen. I am assuming that currently the price is down, only because the high transaction fees. But this will be back to normal very soon as soon as the block explorer settles down a bit, but the price won’t this time look to the fees. So we should grab as many Bitcoins as we can in this comparatively low price. If Bitcoins manages to cross 35k usd in this Month, then June will be really big for many people .

Most people expected Bitcoin to be in the 35k to 40k range in May But that hasn't happened yet, but in my opinion still since it's the second week of May I'm not getting too desperate yet. If we look at the last few months before the Bitcoin pumping, the first week or the first two weeks the market is in a bit of a down trend. So I won't be disappointed, maybe we can see a new come back by the last week of May although no one can guarantee about how will be the future condition of market.
How ever recently I have got this news that , "America's FBI is selling bitcoins seized from Silk Road and other sectors", let's see how its impact is going to fall on the market.

[btc_angela]

May has disappointed many, but my friend don’t lose hope, as 20 more days are there for this beautiful May. Anything and everything can happen. I am assuming that currently the price is down, only because the high transaction fees. But this will be back to normal very soon as soon as the block explorer settles down a bit, but the price won’t this time look to the fees. So we should grab as many Bitcoins as we can in this comparatively low price. If Bitcoins manages to cross 35k usd in this Month, then June will be really big for many people .

I wouldn't say that it could be a disappointment, still very early, we are just about to enter the 2nd week. And there are factors as we all know that affect the price that is beyond our control. I know, we wanted to see $30k or higher this May because that has been the trend for this year, starting January the price is going on a rise that others say that we are out of the bear market.

But I still believed that we are still inside the bear market so expect the price to still go down anything with or without reasons. Right now the brc-20 or ordinals have a negative impact as the network was clogged because of this and could be the main reason why investors are staying away from bitcoin as of this moment.

[Pity Token]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

[tiCeR]

Mmm...  I don't think so.  It took a lot of volume to break above 25k and it could take more than the usual volume to break down below.  Dunno.  Could be BTC needs a sell off to 25k before a really strong bounce to break out above 30k just like it did when BTC went down to 20k before going up above 25k.
Anyway I feel like anything that bounces strong from 27k is a scalp long followed by anything that sells down strong from 30k is a scalp short. 

I had a good feeling the past weeks for a couple of times and every single time Bitcoin stopped at some tipping points where I thought this could be it. But instead it is going back and forth, but in a weird pattern sometimes. Quick big pushes followed by quick big sell offs. I am often instantly trying to search for reasons for either movement, but all too often there is nothing to be found. I wonder if these are some games being played by the big guys? I am certainly not one of them so I can't know.

Like in the last 15 hours or something, those buys and sells don't make sense to me. You can't even draw a line that returns some trend. I think over the shot-term for the rest of May we are going to see more of a sideways movement. I'd prefer it goes up, but rather expect less and receive more.

[SirLancelot]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.

But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.

[cryptomaniac_xxx]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.

But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.

Yeah, but we can speculate whether the price will go up or not and that is the main purpose of this thread. I mean everyone here, average joe like the majority or those whales can make their own prediction on this month and then make the necessary adjustments.

$25k will be the next support level no doubt about it. But as we can see, the price seems to be moving towards the $27k, yesterday it was like $27,500 but in the last 24 hours it goes down again. So most likely this might be case for this month, sideways and worst case is that it will go down to $25k.

[stomachgrowls]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.

But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.

Yeah, but we can speculate whether the price will go up or not and that is the main purpose of this thread. I mean everyone here, average joe like the majority or those whales can make their own prediction on this month and then make the necessary adjustments.

$25k will be the next support level no doubt about it. But as we can see, the price seems to be moving towards the $27k, yesterday it was like $27,500 but in the last 24 hours it goes down again. So most likely this might be case for this month, sideways and worst case is that it will go down to $25k.

If ever it would be touching up that $25k then it would definitely making some DCA on this point on which it wont really be that bad if ever there would really be some price pullbacks or corrections. Actually this month of

May does have some notable situations or events like on the recent network clogged because of that ordinal thing https://decrypt.co/139036/developer-inserts-bug-bitcoin-ordinals-how-bad-is
Dont know on how this would really be that i connection about on the current price decrease but i do heard off some words in correlating this stuff on the recent drop
but honestly i dont really see out some connections into it.

Sentiments of this May, then im always be having that kind of that guy or person whose really that easily make out some adjustments or something that talks about versatility.
Im always prepared on what would be the numbers because this is how this market reacts or behaves whether there are some notable events or doesnt really
have any at all.

[Kelvinid]

Well, as we enter the month of May, the price of Bitcoin isn't moving forward but just a drop. Thinking about the situation last month April, I could say that this month of May is not really looking good but of course, it was not the possible worse month as well. The situation would never change, there is an up and down on the its price but if the huge fees continue, this would really a have huge impact in the market as well as urging small investors/traders not to move their BTC and hold them.
However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.

[goaldigger]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

There’s a sign of life especially to those who are waiting for this cheaper moment, another great opportunity to grab more Bitcoin. I think the market will go for a correction for now and this might last until the end of 2nd quarter. We do not enter the real bull market trend yet, but at least we saw a great pump already, now its waiting time again for the price to pump, there’s still chance that it can happen this year.

[KingsDen]

After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life

There’s a sign of life especially to those who are waiting for this cheaper moment, another great opportunity to grab more Bitcoin. I think the market will go for a correction for now and this might last until the end of 2nd quarter. We do not enter the real bull market trend yet, but at least we saw a great pump already, now its waiting time again for the price to pump, there’s still chance that it can happen this year.

Even when we thought that we have escaped the bear market, here we are going to $25k. Mehn! But deep inside me, I will like the price to touch 20k again so that I can make a big purchase and wait for the bull run.
Could it be this congested mempool that is dragging the market downwards. If so, the market will reverse upwards if the mempool is decongested.

[yohananaomi]

Well, as we enter the month of May, the price of Bitcoin isn't moving forward but just a drop. Thinking about the situation last month April, I could say that this month of May is not really looking good but of course, it was not the possible worse month as well. The situation would never change, there is an up and down on the its price but if the huge fees continue, this would really a have huge impact in the market as well as urging small investors/traders not to move their BTC and hold them.
However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.

I think I also see the same as you said, the movement only increased for a moment and went back down but the price was still in the same situation. the increasing trend at the beginning of the year was just a mere surprise and it doesn't look like it will continue to move better, prices in May might be in the price range of $ 25K-30K. but I estimate that if the world economy has not improved, it is certain that bitcoin will not move beyond $ 30K and will continue to be below it, it is possible that early next year there will be changes that lead to gradual improvement.

[YUriy1991]

Shifts in market sentiment are always changing. If we look at the Time frame 1 hour ago Bitcoin bounced back after the $25,811 axis with very low volume. Now back to the Support/Resistance Block However, if the bulls manage to close BTC above the SR block around $27,663 Traders and investors will cancel shorts and trigger Longs triggering a spike in deals. My Opinion for BTC Sentiment Poll for May for is Up.