It was easy to know the SELL of this week with a simple chart analysis

[MarjorieZimmermanGinger]

I didn't flinch a bit since I started selling Bitcoin on Monday. This is not because I often make accurate analyses but because of the high assurance I have on the selling for the week. And as my simple chart reveals, only price action, trendline and RSI did the trick and was a good success.

Short term trading may pay off but it is important to talk about how you can analyze the market on a daily basis. This work is complicated when you are unable to pay attention to market conditions and forecasts are needed for today, tomorrow and so on. That's why not many people can analyze bitcoin in the short term because they talk about price fluctuations that can go down today and up again tomorrow, so there are certain difficulties for those who don't have a strong analysis.

In conclusion it depends on how one can take advantage of the pattern and when people choose the same path as you, then the power of analysis is needed and they also have to be able to monitor the market at all times. As long as you are confident and not worried about the long and short term, this is only talking about utilization and more importantly how the investment you make can turn a profit.

[Weawant]

Most likely the next strong support point will be at 25k, I don't expect the price to drop to $19,501 for the time being at least.
In any case, no one can predict accurately, but in the event of the worst scenario, it will be a good point to reaccumulate more bitcoin for those who missed the cheap prices. We still have almost a full year ahead of Halving, as everyone expects a big rise, so I think it is a good opportunity.

$25,000 is the target for my as well, j don't think Bitcoin will fall below that price. There's a very strong support at that level and it'll take more than just a market correction for the support at that level to be broken and if it does get broken, I'll keep buying more.

I'm not interested in knowing the weekly sell price as I'm not interested in selling and no one should be selling in loss, the market has already fallen in the past week so there no reasonable reason behind selling at this point unless you feel there's more fall coming.

At this stage of the market, I believe the best strategy is to accumulate Bitcoin instead of selling every dio should be seen as an opportunity to keep buying more bitcoin, altcoins are what you should be selling because they will  take a major hit if Bitcoin dips further.

[DiMarxist]

The current network crisis obviously will affect the bitcoin market negatively especially when this problem is  an elongated. Don’t just focus on the current situation of the market. Instead, they compare present price movements with historical data to give their technical analysis that all-important credibility. the accuracy and promptness of the figures gotten from price trackers have significant bearings on the market analysis for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.

[retreat]

There is nothing easy in trading, especially when it comes to analysis using charts and especially in Bitcoin trading. But let me give my view on the Bitcoin situation. For now I believe that the resistance point of Bitcoin is at USD 30/31K and support at USD 22/24K. For Bitcoin's position in the next few months it seems that it will still be sideways, because so far there has been no positive news pushing Bitcoin, but the opportunity for Bitcoin to break through the resistance point is still there this year and I'm really waiting for that moment to happen. And with the news that there will be a halving next year it will strengthen the price of Bitcoin even more and maybe it will reach $ 40K USD next year.

[Franctoshi]

After the price Bounce at $25.8k, and head up to kissed $27.9k and got rejected back to $26k, the price went back up again and got a second rejection at $27.485k, from my own analysis this confirms to me that the next level we are likely going to tap into is the $25.8k where we got the initial bounce to the up side and failure for the Bulls to push the price back up from that level, I see a price melt down towards $25k-$24.5k

[ethereumhunter]

For people who analyze a lot, they know when to buy and sell but not for people who follow what others say because they get confused when the market moves.

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high. But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that. And hopefully, the price support can still withstand current market conditions and not fall deeper.

[yudi09]

Most likely the next strong support point will be at 25k, I don't expect the price to drop to $19,501 for the time being at least.

I agree with this. It is possible that the 25k support point is acceptable based on what we are seeing right now in the market and the lowest price may be 20k in May I think if it continues to decline or there is no change leading to an increase.

In any case, no one can predict accurately, but in the event of the worst scenario, it will be a good point to reaccumulate more bitcoin for those who missed the cheap prices. We still have almost a full year ahead of Halving, as everyone expects a big rise, so I think it is a good opportunity.

At the point of providing predictions about prices, yes no one can give them accurately. With the current state of the market price for Bitcoin or in recent months this is a good opportunity to buy. As you said, good points to re-accumulate more if a bad scenario occurs. Can not afford in large quantities, so it can be in small quantities.

[dragonvslinux]

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high.

That's because ultimately no traders or investors ever know how far a bearish correction will go, as it's impossible to "know" these things  

The only thing speculators can do is assess how far the correction is most likely to go, based on probability and past performance. For example in March this was $20K, widely accepted by many bullish participants in the market, so unsurprisingly price reversed strong from this level. Right now many think it's around $25K, personally I think it's more like $23K or somewhere in between. Not $26K or $27K.

But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that.

I never understand the mentality of not wanting a deeper correction during uptrends, it makes no sense to me. The deeper the correction with a strong reversal the more room price has to go to the upside, similar to the $20K correction. Ideally people do "freak out", this would be ideal, as the fear in the market will be a good signal for further investment and trading to the upside, rather than remaining overly bullish.

[el kaka22]

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

[Silberman]

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I also forecast that the price of bitcoin is going to remain close to the current level for some time, after all we are still far away from the halving so we cannot expect the price to go up in a sustained manner unless there was a fundamental reason for the increase on the demand, however we have left the bear market behind as well and as such a sharp decrease on the price does not seem to be on the cards either, and this means that most likely the price will range for weeks or months around the current level.

[tygeade]

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I agree with most of this, I mean the situation right now doesn't look like there is a big chance that we will change anything anytime soon, it will probably stay like this and not go down. After staying like this for a while, it will go up a lot more and the price will skyrocket. People are aware of this, the price will go up because there is a chance that we are going to end up with a bit of a problem when the time comes and that's the reality.

I understand that it may not be anything quick just yet, but it will happen with time because next year we are going to have the halving and that means we are going to end up with something that will be a bit of a difference compared to this year and that's the life we are going to see.

[ethereumhunter]

But if you ask when the bearish will end, no one will know, even the pro traders don't know, especially now the bitcoin price has not shown any signs of increasing high.

That's because ultimately no traders or investors ever know how far a bearish correction will go, as it's impossible to "know" these things  

The only thing speculators can do is assess how far the correction is most likely to go, based on probability and past performance. For example in March this was $20K, widely accepted by many bullish participants in the market, so unsurprisingly price reversed strong from this level. Right now many think it's around $25K, personally I think it's more like $23K or somewhere in between. Not $26K or $27K.

And speculators and traders can only try to enter the market and make a profit. Even though market conditions are still like this, where prices are still going up and down every day, it is still being used for those who want to make a profit but it requires more in-depth analysis to find gaps to enter the market. This month the price is still around $26k and I suspect it will be like this until the end of this month but next month, there could be a good price move from bitcoin so it could go back to $27k and even reach $30k. So we can only prepare ourselves for the next high price while considering continuing the DCA if your target is to sell bitcoin at more than $60k.

But let's hope the current price doesn't drop below $26k again because there are people who will freak out for a second because of that.

I never understand the mentality of not wanting a deeper correction during uptrends, it makes no sense to me. The deeper the correction with a strong reversal the more room price has to go to the upside, similar to the $20K correction. Ideally people do "freak out", this would be ideal, as the fear in the market will be a good signal for further investment and trading to the upside, rather than remaining overly bullish.

That's only natural because they have bought bitcoin at a high price, for example, above $ 30k so when the price drops drastically, like now, they are never ready, even if it is a golden opportunity to buy bitcoin at a low price. Those people shouldn't panic but instead see it as an opportunity where it won't come again when the bitcoin price has started its long rally.

[fuguebtc]

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I am one of those people waiting for bitcoin to drop further while many hope it will rise again. Not only you but many people believe that bitcoin won't be able to break $25k, but in the end, no one can be sure and it's all just everyone's hope, no one has proof. For my part, I still believe there will be a major correction this year or early 2024, and we still have a chance to buy bitcoin cheaper than it is now, although I'm not sure about that either. But investment is like that, each person will have a different perspective and vision, and only time will answer all.

[AakZaki]

The current network crisis obviously will affect the bitcoin market negatively especially when this problem is  an elongated. Don’t just focus on the current situation of the market. Instead, they compare present price movements with historical data to give their technical analysis that all-important credibility. the accuracy and promptness of the figures gotten from price trackers have significant bearings on the market analysis for day traders but for long term its just obsolete and I can't conclude anything with the candles from past.

But in the past there were also similar problems when the Bitcoin network crashed and the gass fee rose high. When long-term analysis using past historical data is outdated, then there is no ultimate guidance. But maybe only a few percent will affect obsolete data data. Bitcoin continues to evolve and the science of analysis is also evolving. Indeed, there will be no accurate analysis, all have weaknesses. several cycles have been passed and soon there will be a 4th cycle and this will be a new history for bitcoin.

[Yatsan]

Ofcourse it would be easy to draw conclusions, and speculate the price movement but problem is, no one really knows wht will be the behvior in each day. There are sudden crash with the market price even if most of the people in this industry are expecting for a pump. One reason? Manipulation created by big investors in this industry. Once they decide to sell, small investors would be moved as well in a particular direction either up or down.

I don't think it will go down to 25k anyhow, it is understandable that we have already gone down to 27k levels but that's about it, we are not going down anymore and the price will be what it is and it is not going to change anytime soon. I hope that it does, but I do not think that it will change anytime soon.

We are going to see the price stay here for a while and then it will start going back up again and that will be a lovely period, we are going to be quite happy about that. I understand that people may not be happy about not going down anymore because they would like to buy cheap again so they can sell higher, but the reality is that we are not going to see that happen anytime soon, we are going to see it move a lot higher from here without going down.

I am one of those people waiting for bitcoin to drop further while many hope it will rise again. Not only you but many people believe that bitcoin won't be able to break $25k, but in the end, no one can be sure and it's all just everyone's hope, no one has proof. For my part, I still believe there will be a major correction this year or early 2024, and we still have a chance to buy bitcoin cheaper than it is now, although I'm not sure about that either. But investment is like that, each person will have a different perspective and vision, and only time will answer all.

If we would base from previous charts, there would be first a massive price correction before the actual uptrend occur. Problem is that no one knows when will it occur. We are getting closer to the next halving and this is why there is a mixed expectancy of market price movements. Only time will answer indeed.

[Woodie]

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When will the bearish bias last?

That I can't say for sure, but as a trend trader, I see further selling of Bitcoin in the near term and the $19,501 (low of March) is the only immediate noticeable target on the weekly chart.

Tell me your opinion about this and the current situation of Bitcoin from your angle.

We looking at this from the weekly which did look bearish on this time line, but if we use multi time frame analysis we shall discover that on lower timeframes markets are actually bullish on say the 4 hour or hourly and this is what am seeing, especially that there was a break of structure on the higher timeframe , a pull back is expected and this is whats expected in the coming weeks as we counter trade.

But if you ask when the bearish will end, no one will know, even the pro traders don't know

Market direction can be known using technical analysis and this way we get to know the market direction, but because  of external  factors such as new regulations,  political influence etc these will always affect the market direction and not allow us to be always right.

[Ziskinberg]

There is nothing easy in trading, especially when it comes to analysis using charts and especially in Bitcoin trading.

No, it was easy to draw speculation based on the current situation and price trend but the problem is we really don't know what will happen next that is why all of these things usually fail. That is why I don't consider trading analysis to be too easy, sometimes it was a gamble, and sometimes I used my instinct as well. We can never have assurance in trading but we really have the chance to earn if we are good at analyzing the market trend. And most of all, I don't buy BTC when it was at its peak, I'd rather wait to have some corrections and take advantage of it.

[Silberman]

There is nothing easy in trading, especially when it comes to analysis using charts and especially in Bitcoin trading.

No, it was easy to draw speculation based on the current situation and price trend but the problem is we really don't know what will happen next that is why all of these things usually fail. That is why I don't consider trading analysis to be too easy, sometimes it was a gamble, and sometimes I used my instinct as well. We can never have assurance in trading but we really have the chance to earn if we are good at analyzing the market trend. And most of all, I don't buy BTC when it was at its peak, I'd rather wait to have some corrections and take advantage of it.

Just as much you need to use the knowledge and skills you have accumulated over the years, your experience is also incredibly important, as you can easily remember a time in which the market moved in a certain way and this tells you that something is about to happen before it is reflected on the charts, that experience is priceless and it can be the difference between obtaining massive losses or suffering tremendous losses, which is one of the reasons why trading is so hard and difficult to master.

[Similificator]

Welp, it's nice that your TA worked out for you and that you find it easy to know when to sell. As for me though, I still can't say I'm winning always on my trades be it on bitcoin or altcoins. I still struggle from time to time and make bad trades since in some cases, the indicators I use on one trade along with the strategy sometimes do not work on other trades, not to mention the confusing patterns that don't even work out that often. I guess I am still finding my sweet combination of indicators, time frames etc.

[CarnagexD]

I didn't flinch a bit since I started selling Bitcoin on Monday. This is not because I often make accurate analyses but because of the high assurance I have on the selling for the week. And as my simple chart reveals, only price action, trendline and RSI did the trick and was a good success.

It's worth mentioning that Bitcoin has been dramatic after hitting the year-high of $30934 in April. I was able to notice a barrier at that time, which made me draw the simple trendline since the 16th of April, and ever since then the market was unable to breach the level higher and has been a guide for my weekly speculations.

I retrained from taking any position when the price action was positive under the trendline, particularly last week when the market was ranging. This happens until last week's candle closed negative below the trendline and a new negative price action was hence activated, which coupled with the confirmation of the weekly chart's RSI.

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When will the bearish bias last?

That I can't say for sure, but as a trend trader, I see further selling of Bitcoin in the near term and the $19,501 (low of March) is the only immediate noticeable target on the weekly chart.

Tell me your opinion about this and the current situation of Bitcoin from your angle.

No hate but it's always easy to draw a line on a chart and say I go it right. Every analysis seems like correct on hindsight and after the fact. I can also draw a line on a chart and tell that I knew it would happen. Complete bs right?
Show the result. This may serve as a reminder that when you are in the market, the goal is not to be right. The goal is to make money. How much % did you make? or did you just make your self believe that you did get it right.

Learn to differentiate "knowing" where the price is going to actually do "trading" and make money out of the market.
Again, drop your ego. Stop being right, aim to make money.