BTC Sentiment Poll for June

[pooya87]

It's interesting to see where our support line is, and currently it is still $25k, we have retested that line and yet it covered nicely and it did bounce to $26k++. So we recovered from that critical level. And I think we are still going to be very bullish in the long term.

$25k has proven to be a decent support that is not going to be broken that easily (I mean break and stay below). As for the trend bitcoin will always be bullish in the long term but the question is about the time it would start entering the bullish trend. For now I don't see the sideways trend changing and I still believe it is all about the overall global economical situation which is "severely strained".

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[dragonvslinux]

It's interesting to see where our support line is, and currently it is still $25k, we have retested that line and yet it covered nicely and it did bounce to $26k++. So we recovered from that critical level. And I think we are still going to be very bullish in the long term.

$25k has proven to be a decent support that is not going to be broken that easily (I mean break and stay below).

Apparently so! After two months waiting for a re-test of $25K, I had thought investors had given up waiting and bought at higher prices. But it seems that enough participants were patient enough here.

As for the trend bitcoin will always be bullish in the long term but the question is about the time it would start entering the bullish trend.

The chart below is one example of why/how Bitcoin remains bullish in the long-term imo. The 50 Month MA is the purple line, it's a rough 4 year average (slgihtly longer though). Notably while the 200 Week MA didn't hold as support initially, the 50 Month MA does look like it has supported price with the wick to the downside and now price clearly back above it. We're not far of a green monthly candle either now ($200 / 10 days)

For now I don't see the sideways trend changing and I still believe it is all about the overall global economical situation which is "severely strained".

I still think there is a lot more consolidation to come, likely until the end of the year if not longer similar to 2019 or 2015. But whether price reaches $40K or even $50K before consolidating with a correction back down to around $30K is another question. Notably the stock markets have recovered considerably, and a similar type of recovery in Bitcoin by % from ATH would see prices nearer $60K than $50K now.

[tokeweed]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

[Minecache]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

Yes, our mentality is changing, the market is greener, definitely, people are becoming more positive. Even though bitcoin has yet to hit $30k, I have seen many optimistic predictions that bitcoin will hit $35k before the end of the month. I never dared to think about it, but I hope like you, we need to break above $30-32k before we can think further. But I also suspect that is highly unlikely, people are excited to see bitcoin recover, but most remain cautious and still don't have any major Fomo to drive greener markets in the coming days.

[ajiz138]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

We are seeing the bullish signs getting stronger this is happening within 24 hours bitcoin has had many breaks to resistance to $30K and it is less than a few dollars away from breaking it as june is going to be a bit better after a lot of some news big institutions buying more bitcoin a lot and that might be the big impact.

The market is now more aggressive, but will there be another break? But if you look at the analysis, it seems that this will be stronger to survive, henceforth, after June ends in July, many people expect the price of Bitcoin to move again.

[dragonvslinux]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

I'm still sticking to my sideways vote

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

[uneng]

From 26,000$ to almost 30,000$ in a single shot!

That has been an impressive bullish movement happening since yesterday. Now the challenge is to break the 30,000$ resistance level once again and remain stable above this line. I just feel regretful for selling BTC beforehand, due to believing on the predictions the price would fall once again after reading SEC is going to announce another raisement on interest rates of 0,25% for the next month and because there is going to be investment opportunities in USA on construction sector aiming to assist people in low financial standards.

Sadly, it was just a clickbait to deceive investors. Good for those who kept holding and ignored such rumours.

[dragonvslinux]

From 26,000$ to almost 30,000$ in a single shot!

That's certainly the most obvious way to look at the situation, personally I prefer an alternative view that consider the past year or so:

* 12 months to reclaim the 200 Week MA as support
* 6 months to develop a strong enough uptrend
* 3 months to turn $25K into support after breaking it as resistance
* 2 months correction before attempting to challenge $30K again
* 1 month to realise that negative news doesn't affect uptrend

It's easy to look at the situation and think there is no logic to such a rebound, but the other angle is that a move like this back to $30K was a long time in the making.

[fzkto]

From 26,000$ to almost 30,000$ in a single shot!

That has been an impressive bullish movement happening since yesterday. Now the challenge is to break the 30,000$ resistance level once again and remain stable above this line. I just feel regretful for selling BTC beforehand, due to believing on the predictions the price would fall once again after reading SEC is going to announce another raisement on interest rates of 0,25% for the next month and because there is going to be investment opportunities in USA on construction sector aiming to assist people in low financial standards.

Sadly, it was just a clickbait to deceive investors. Good for those who kept holding and ignored such rumours.

Indeed, bitcoin has made a very good move. Over 15% in just a few days. There is a lot of news now about different etfs, so it is hard to determine what is true and what is false. But I don't like that this growth is happening with low volumes. If you look at the chart on Binance, the volumes in the last months are really low, despite the fact that there is now explosive growth.

[aylabadia05]

From 26,000$ to almost 30,000$ in a single shot!

That has been an impressive bullish movement happening since yesterday. Now the challenge is to break the 30,000$ resistance level once again and remain stable above this line. I just feel regretful for selling BTC beforehand, due to believing on the predictions the price would fall once again after reading SEC is going to announce another raisement on interest rates of 0,25% for the next month and because there is going to be investment opportunities in USA on construction sector aiming to assist people in low financial standards.

Sadly, it was just a clickbait to deceive investors. Good for those who kept holding and ignored such rumours.

The chart direction turned slightly downwards as it raced to a price of $31,000 from $27,000 in 24 hours.
Increasing price charts moving up quickly will make a lot of people regret for letting go at a price below $ 27,000.



Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.

[Falconer]

The chart direction turned slightly downwards as it raced to a price of $31,000 from $27,000 in 24 hours.
Increasing price charts moving up quickly will make a lot of people regret for letting go at a price below $ 27,000.

It was a natural correction because some people have sold their bitcoins. Price dropped a bit but then bounced back and tested resistance again. Don't worry about it, but enjoy this recovery.

Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.

If this trend persists and continues then surely $40k will be reached easily. Look how happy people are after bitcoin crossed $30k in just 24 hours after closing at $28,331 the previous day. The hope for a $40k hit is still very high, but wait and see if bitcoin can break the $35k resistance.

Anyone who sold at a low price in the past few days is clearly regretting their decision, but I wouldn't necessarily say it was a bad decision when there was a clear reason that went with it.

[flyingcarpet]

The chart direction turned slightly downwards as it raced to a price of $31,000 from $27,000 in 24 hours.
Increasing price charts moving up quickly will make a lot of people regret for letting go at a price below $ 27,000.

It was a natural correction because some people have sold their bitcoins. Price dropped a bit but then bounced back and tested resistance again. Don't worry about it, but enjoy this recovery.

Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.

If this trend persists and continues then surely $40k will be reached easily. Look how happy people are after bitcoin crossed $30k in just 24 hours after closing at $28,331 the previous day. The hope for a $40k hit is still very high, but wait and see if bitcoin can break the $35k resistance.

Anyone who sold at a low price in the past few days is clearly regretting their decision, but I wouldn't necessarily say it was a bad decision when there was a clear reason that went with it.

Such a strong increase in the middle of the year is a positive situation. Of course, there are still those who say that the increase is temporary. Nobody knows what will happen, but it was good for bitcoin lovers to see the market in this way today.

To test it again, the price dropped and quickly recovered. After a long time, we see such a rapid increase. Today, those who are interested in bitcoin are smiling. Bitcoin investor longs to be happy and see the market green.

Hopefully this increase will continue and break the next resistance.

[Baofeng]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

Yeah, it was a sudden flipped, but who can tell though? bullish sentiments is back and we have recaptured $30k again, after trading for more than 2 months on a sideways pattern.

So yeah, resistance should be at $30k, but it seems that if we can maintain this price then we can go up to $32k. And we still have a lot of days before the end of June, so most likely this could be another green dildo.

[tokeweed]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

I'm still sticking to my sideways vote

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

Nono it's fine...  I'd like to see the price a lot higher than were it is too.  I mean who doesn't?    But we also can't just let go and say 'woohoo we at the bull market, to the moon'...  Lol.

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

[fzkto]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

I'm still sticking to my sideways vote

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

Nono it's fine...  I'd like to see the price a lot higher than were it is too.  I mean who doesn't?    But we also can't just let go and say 'woohoo we at the bull market, to the moon'...  Lol.

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

If you look at bitcoin's historical cycles, 15k was probably the bottom and the price will not return to that area again. Usually a bull market would happen about a year before the halving, but without reaching a new ATH. I think we will see a price increase in the next half year.

[dragonvslinux]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

I'm still sticking to my sideways vote

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

Fair point, I guess I'm generally ruling this out happening in a hurry. As with the break of $25K it effectively took 3 months to re-test if as support. If the highs break, I imagine price will continue higher before confirming old resistance as new support. Also the upside momentum may well increase (similar to 2019), whereby old resistance may not be tested as new support for 6-12 months, let alone 3 months. I say this as we're not in a "full blown" bull market, as you agree, and therefore the market is still in a trend reversal stage. With that in mind, it's likely to be more volatile and irrational than usual uptrends.

I also suspect that breaking above $32K will shakeout the remaining bears who are still expecting lower lows, or at minimum a re-test of lower levels. With this in mind, these bears are quite likely to accept defeat and buy back, even if at a higher price for some. This is why I think a rational re-test of $32K to turn it into support will be unlikely, as the market is unlikely be rational if the last bearish level is crossed.

Also if we are to consider the year long structure of a rounding bottom, the upside target from breaking $32K is +100% to re-test previous highs. While I still don't think price will get beyond $60K this year, it's hard to believe that many bears won't take the risk/opportunity for a trade to $60K levels. As the reward will significantly outweigh the risk, as even with a stop loss below $25K, it'd still be about 5:1 or 4:1.

[aylabadia05]

Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.

If this trend persists and continues then surely $40k will be reached easily. Look how happy people are after bitcoin crossed $30k in just 24 hours after closing at $28,331 the previous day. The hope for a $40k hit is still very high, but wait and see if bitcoin can break the $35k resistance.

I'm still waiting for 24 hours or until tomorrow whether it will stay at $30,000 because on the 24-hour chart today the price is still at $30k even though the lowest price is $29,754.87.
If today's closing price is at $30k, then there is a chance of breaking the $35k resistance, although we cannot say for sure.

[imamusma]

I'm still waiting for 24 hours or until tomorrow whether it will stay at $30,000 because on the 24-hour chart today the price is still at $30k even though the lowest price is $29,754.87.
If today's closing price is at $30k, then there is a chance of breaking the $35k resistance, although we cannot say for sure.

The price of bitcoin is very uncertain especially amid soaring buying interest from several large companies and large investors. The closing price will probably be under $30k lower or higher, but I don't think that will guarantee that bitcoin will be more expensive and break the $35k resistance.

Today bitcoin opened at $30,102 according to data from CoinGecko, and if this positive trend continues then bitcoin should be able to close at $32k or $31k. Anyway that's just the range I can think of, but certainty just really depends on supply and demand. Wait and see, but we hold a better possibility.

[aylabadia05]

I'm still waiting for 24 hours or until tomorrow whether it will stay at $30,000 because on the 24-hour chart today the price is still at $30k even though the lowest price is $29,754.87.
If today's closing price is at $30k, then there is a chance of breaking the $35k resistance, although we cannot say for sure.

The price of bitcoin is very uncertain especially amid soaring buying interest from several large companies and large investors. The closing price will probably be under $30k lower or higher, but I don't think that will guarantee that bitcoin will be more expensive and break the $35k resistance.

Today bitcoin opened at $30,102 according to data from CoinGecko, and if this positive trend continues then bitcoin should be able to close at $32k or $31k. Anyway that's just the range I can think of, but certainty just really depends on supply and demand. Wait and see, but we hold a better possibility.

$29,936 closing price on the 22nd. Not far from the $30k we assume.
Then the $30,629 closing price one day later was yesterday's closing price and is still not at that price as it is on the coingecko chart.



The possibility to get better is still very strong, at least entering July, which is only a few days away.

[tokeweed]

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

I'm still sticking to my sideways vote

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

I also suspect that breaking above $32K will shakeout the remaining bears who are still expecting lower lows, or at minimum a re-test of lower levels. With this in mind, these bears are quite likely to accept defeat and buy back, even if at a higher price for some. This is why I think a rational re-test of $32K to turn it into support will be unlikely, as the market is unlikely be rational if the last bearish level is crossed.

So what does that mean?  You're thinking BTC goes straight to 37k or wherever the next resistance is..?  It could happen but I think it's more likely that it's going to be like how it happened last time which was sell down to 25k before going up to attempt a break out 31k - 32k.  So it will prolly go straight up to 37k like you said, lose some steam, go sideways for a bit then the retest to 31k - 32k.

The pump before this one, BTC went down to retest 20k before it went up to break out of 25k.

Anyway black line is where the next resistance might be...  Dunno.