Everything is on FIRE today!

[BenCodie]

I think it's obvious that this is just FOMO, but it will have to start from something, so when the BlackRock Spot ETF application come to surface, everyone wanted to be on board and that's why the price simply skyrocket for the past 2 days.

However, we have experienced this price before, we have hit $31k so this is just a retest. And it's just a question on whether now if we can sustain this run because of the FOMO and then go up $32k++. So it's too early to get excited, in my opinion.

For sure though, those who have been buying at a cheap price is very happy to see their portfolio growing.

Right. FOMO only lasts a few days if the momentum doesn't continue.

During Feb/March 2020, many whales bought a significant amount of BTC around $20k. A pump to allow them to liquidate makes sense. Giving retail FOMO so that they buy at these prices, and hurt them later, also makes sense.

However, sometimes what we expect does not happen. It's possible that this is the start of the bull run and now we all miss out because of disbelief.

[o48o]

Right. FOMO only lasts a few days if the momentum doesn't continue.

During Feb/March 2020, many whales bought a significant amount of BTC around $20k. A pump to allow them to liquidate makes sense. Giving retail FOMO so that they buy at these prices, and hurt them later, also makes sense.

However, sometimes what we expect does not happen. It's possible that this is the start of the bull run and now we all miss out because of disbelief.

I think it could be disbelief as well. But what it's worth i am not in a financial position to enter markets now, so gladly i don't have to make the decision to enter. Otherwise i think i would be fomoing in now but i am not that sure that i would take a loan for it. Times are just too hard right now to risk anything. I am guessing this is the place in the time and chart where whales are being made. And i am totally missing out because of fear.

I need more stability to my income before i start to enter again.

[Ojima-ojo]

Right. FOMO only lasts a few days if the momentum doesn't continue.

During Feb/March 2020, many whales bought a significant amount of BTC around $20k. A pump to allow them to liquidate makes sense. Giving retail FOMO so that they buy at these prices, and hurt them later, also makes sense.

However, sometimes what we expect does not happen. It's possible that this is the start of the bull run and now we all miss out because of disbelief.

I think it could be disbelief as well. But what it's worth i am not in a financial position to enter markets now, so gladly i don't have to make the decision to enter. Otherwise i think i would be fomoing in now but i am not that sure that i would take a loan for it. Times are just too hard right now to risk anything. I am guessing this is the place in the time and chart where whales are being made. And i am totally missing out because of fear.

I need more stability to my income before i start to enter again.

At this point fomo is real and alot of newbies are jumping on Bitcoin trying not to miss the next BTC price flight not knowing that entering the market at this point in time where bitcoin has increased in price significantly is not the best investment decision so at that one need to avoid any buying position for bitcoin, and as a matter of fact, this is the best time to DCA if you holding bitcoin before now and wait for the whale to dump the price then buy back at discounted price later on.


So not buying right now is the best position and the most safest zone as an investor, but the possibility of the price increasing further is there because at this point, bitcoin is at a crossroads and anything can happen.

[flyingcarpet]

as it would not surprise me if another round of FUD made it to the markets to slow down the growth of bitcoin once again.

Even if it's not now. Fud now looks like something normal to the crypto market. When it looks like the pressure of one is going down and the market is trying to recover so hard, there comes another, as if it's been manipulated by some organization gathered somewhere. Just take a good look at the Luna incident, which resulted in a great market dump. On the FTX exchange, the same thing happened. Now the SEC is suing, etc. It's just something normal now but what matter is how the market keeps on recovering after all this. It keeps bouncing back stronger.

Yes, this news is a normal thing in the crypto world now. In fact, the normal perception of these news is very beneficial for the good of bitcoin. Because now someone can't go out and reduce bitcoin to the price they want. We've seen recently that it takes a lot of big news to do that. Even if such big news comes, I don't think I will sell bitcoin. These are all things they do to get bitcoins cheap. They've been doing it for years.

Bitcoin is coming back stronger each time and standing tall. This is how it will go.

[Nwada001]

Because now someone can't go out and reduce bitcoin to the price they want.

Bitcoin is over a decade old now, and I don't think it has ever been possible in the past for anyone to be able to control or manipulate the price of Bitcoin to whatever they want.

It's always the big news caused by a group of powerful financial people, but they don't predict what the price will be. Sometimes they get a lower result than they expect, but most times they get a higher result. This is all based on the response and attention that the people give to the news.

The gravity that a fuds carries sometimes determines the level of panic selling we might likely see, which in turn will have a negative impact on the market.

[Yamifoud]

Well, whatever the reason for firing it back, this situation will come no matter what. It dumps in fast few days and it rally back after, that is how the market shows and it tells us that people should be patient when investing patient in order to gain rewards. SEC, Binance, etc - it is all just people talking about the impact on the market, and the pump-and-dump trend will come without any of those things.

As it fires back, we then look for another reason. I'd say it comes naturally and so we expect the dump after this. We got crazy finding what's behind.

[kingvirtus09]

Well, to tell you frankly, what happened and what is happening now in the value of Bitcoin, I still can't say that we are about to enter a Bull run. It's possible that this is Fomo or another trap for other investors like what happened recently when others thought that when we reached 31k$ we were in a bull run.
But after those events it was not. And it looks like it can happen again of course. Because of the size of the gap that it raised a few days ago, that means there is a high chance that it will fall again to fill the liquidation of the major swing high and lower swing high, this is just in my opinion.

[Davian144]

Dude, if you really want to know why the market has been on fire the past few days you should turn back the optics and take a wider view and look at how the stock, real estate, commodity, and other investment markets are performing. They are all connected in one way or another. So it's not just the BTC craze in the market, but a lot of other things too. To find out, we have to take a step back and look at the bigger picture.

Sometimes it's also good to take a step back so you can see and understand market conditions that have occurred in a number of things, such as stocks, real estate, commodities, and also the crypto market. Because market fluctuations and movements always occur, whether or not many investors enter it, as well as day traders who can also have an effect on market conditions even though they are sometimes only in the market for a short time. So the changes seen in any market will always occur every year so it's only natural that most people often see two different conditions in any market.

But, today it's all smiles again BTC has shown its power. BTC is going towards $48K in the next 2 months time. but if stupid FUD doesn't hit that makes investors' guts go out and they are lazy to enter the market again.

Those who smile are only those who have bought at low prices and those who still have a very large amount of Bitcoin, because the price increase that is happening to Bitcoin is one way to recover asset value which is quite good for now. And for FUD, I don't think it will matter too much if there is more good news from certain FUDs, which are always deliberately created by several people at any moment. Because the goal is none other than to make all investors panic and lazy to enter the market to invest.

[STT]

Market news spike, the FED spoke during the week and its the biggest bank in the world and is related many other central banks around the world in trade and currency strength.     BTC is not exactly part of that Dollar reserve system and yet the price is quoted in dollars and everything is related in some pricing to USD.    The backbone and progress of BTC is not reliant on US dollar, but speculatively day to day sure it will jump about.   If we had to worry every day about this noise upsetting price it would be over a long time ago.
  Trying to judge BTC on just the daily flow of news would be too difficult, I think we'd go in circles forever chasing  our own tails in the midst of politics and interference by various issuers of currency for their own agendas.   BTC does have its own trend and its positive but over years, we tend to have speculative cycles but these too run over a few years at least.   The price is never totally accurate and generally we can lose 10% just from various jitters and nerves of those who borrow or use leverage while trading a whole basket of prices to their hoped for advantage.

[yhiaali3]

The reason is mostly the entry of major financial institutions such as:
 Blackrock, HSBC, Fidelity, Schwab, according to the news, these institutions may be buying bitcoin assets for nearly 25Trillion$. Of course, the purchase will most likely be in batches, not all at once.

If this news is true, then this huge liquidity will enter the Crypto market. Certainly, this positive news contributed to the recovery of the market even before this huge liquidity actually entered the market.

Therefore, we have to wait a little bit for this liquidity to enter and see the great positivity that we will get.

[GreatArkansas]

Just be careful guys and girls because, as you are not aware yet, with this kind of event, there will be always a "buy the news sell the rumors"
Some could be already dumping on you while you are making your entry.
What I want is always verify and do research, because these fundamental news could be some misunderstand by some news provider or some are false, etc.

[adaseb]

The news is not false. It’s easy to prove they they did actually apply for the etf by looking at the application they submitted. Whether it will be approved is a completely different matter.

What’s not good is that we hit the yearly high and went back down. Not looking good unless we can close above the yearly high in the weekly candle close.

[YUriy1991]

Just be careful guys and girls because, as you are not aware yet, with this kind of event, there will be always a "buy the news sell the rumors"
Some could be already dumping on you while you are making your entry.
What I want is always verify and do research, because these fundamental news could be some misunderstand by some news provider or some are false, etc.

I like your style. yeah, the market is flying and green again in the near future. The bulls will have to reverse that AVWAP resistance and $31k loop if they want to hold onto it. for this time, hope BTC doesn't pull another double top, because a lot of people have been waiting for that $30K zone. If Bitcoin did a double top, it would be a big problem and a clear correction would take place, no doubt about it. As @adaseb said It's worth considering too.

[bettercrypto]

I don't think we are on fire at the moment, the noise in Binance is that Coinbase is gradually quieting down due to the actions of Blockrack, in which is good news for most of the community here in the Bitcoin business that we are in so far

Also, if Bitcoin returns to the normal track if you don't have holdings in it, what you say will be ignored because there will be nothing to sell in the market because you have no load, you know what I mean.

[YUriy1991]

I don't think we are on fire at the moment, the noise in Binance is that Coinbase is gradually quieting down due to the actions of Blockrack, in which is good news for most of the community here in the Bitcoin business that we are in so far

Also, if Bitcoin returns to the normal track if you don't have holdings in it, what you say will be ignored because there will be nothing to sell in the market because you have no load, you know what I mean.

Emotional responses and market noise are common in this space and I think you also have a very good understanding of the market including speculation, news events and individual opinions. noise and fluctuations are always inevitable and exist even if they do not reflect the long-term value or potential of Bitcoin and others. Yes. I also see the action taken by Blockrack and the calm of Coinbase is good news and peace of mind for the Bitcoin community with diverse perspectives and interests of course.

My friends, the economy of the people is different, sometimes some are able and some are not, especially in the current conditions. Yes, maybe it's not time for them yet. I think there are other things they can contribute to this, namely having positive opinions and perspectives from individuals without direct ownership and being able to contribute directly to others, for example trading tips and tricks, how to read chart and candle patterns, how to see what the FUD problem is. or so on in discussions around Bitcoin and its market trends. if I'm not mistaken on the last point.

[BenCodie]

Right. FOMO only lasts a few days if the momentum doesn't continue.

During Feb/March 2020, many whales bought a significant amount of BTC around $20k. A pump to allow them to liquidate makes sense. Giving retail FOMO so that they buy at these prices, and hurt them later, also makes sense.

However, sometimes what we expect does not happen. It's possible that this is the start of the bull run and now we all miss out because of disbelief.

I think it could be disbelief as well. But what it's worth i am not in a financial position to enter markets now, so gladly i don't have to make the decision to enter. Otherwise i think i would be fomoing in now but i am not that sure that i would take a loan for it. Times are just too hard right now to risk anything. I am guessing this is the place in the time and chart where whales are being made. And i am totally missing out because of fear.

I need more stability to my income before i start to enter again.

That's one reason why I think disbelief is a possibility too...a lot of people are in that position, both online and offline (from my view). Everyone is working hard to be able to buy some coins, now or at a good price point. It would make sense for bull to start now so people miss out, economically speaking from a cruel, wealthy/elitist perspective, that would make sense.

If we look at it idealistically, ETF approval issues, coinbase issues, mtgox sell off, US seized coins (30k+btc left) sell off are all things that could push the price down. It depends how much liquidity is supporting the current price though, and institutional demand.

[taufik123]

I like your style. yeah, the market is flying and green again in the near future. The bulls will have to reverse that AVWAP resistance and $31k loop if they want to hold onto it. for this time, hope BTC doesn't pull another double top, because a lot of people have been waiting for that $30K zone. If Bitcoin did a double top, it would be a big problem and a clear correction would take place, no doubt about it. As @adaseb said It's worth considering too.

$31k is quite a strong resistance and currently, BTC is still on standby at $30k. If Bitcoin is able to pass $31k this will be a good trend going forward.
But if Bitcoin rebuilds the Double Top it will indeed be dangerous, there will be a deep enough correction before Bitcoin is finally able to break the highest price again this month.

The correction will clearly occur because the market already looks saturated, these few days Bitcoin is still at $30k, if the correction will be in the $27k price area. But if it is held back with some positive news maybe the correction will not be too deep.
What is certain is that you must be prepared with all conditions.

[STT]

DXY or Dollar index up quite strongly today, 1% would be big but its over half that so since the low early Tues its recovered everything that was lost in the last week which equates to a bit of a sell overall across multiple markets.  Apart from Japan who did well early on and have been seeing outperformance.   BTC is slightly weaker but considering its often large moves this is noise and hard to judge on, below 2 day and weekly average for the moment, how it closes this week is more important then its wavering during the week.

[Hamphser]

I like your style. yeah, the market is flying and green again in the near future. The bulls will have to reverse that AVWAP resistance and $31k loop if they want to hold onto it. for this time, hope BTC doesn't pull another double top, because a lot of people have been waiting for that $30K zone. If Bitcoin did a double top, it would be a big problem and a clear correction would take place, no doubt about it. As @adaseb said It's worth considering too.

$31k is quite a strong resistance and currently, BTC is still on standby at $30k. If Bitcoin is able to pass $31k this will be a good trend going forward.
But if Bitcoin rebuilds the Double Top it will indeed be dangerous, there will be a deep enough correction before Bitcoin is finally able to break the highest price again this month.

The correction will clearly occur because the market already looks saturated, these few days Bitcoin is still at $30k, if the correction will be in the $27k price area. But if it is held back with some positive news maybe the correction will not be too deep.
What is certain is that you must be prepared with all conditions.

Speaking of rejection then it wont go past $29k but well its not really something an assured line because the next support would be on 27 which it would really be ideal on taking up some long position if ever the price

hits up that point.Now the price is stagnant or moving sideways playing on 30K+ and we dont actually know on where it would really be heading on next days or weeks to come. If we would be moving sideways then
there's really that might some small scale accumulation despite of having minimal movements. This is the time on which it is really hard to make out decisions on which we cant really be able to assure
whether the price would be heading up or down.

TA is really showing some possible bearish sentiments on which same as you said that if it would be having that Doubletop form then we can assume on next to have correction.

[Husires]

If you continue to believe that the price is on fire and that you will miss the investment opportunity, it is better not to invest, because the decisions you make at that time are mostly wrong.

All the positives that you mentioned may not move the price in any direction, and therefore when you invest, do not look for it, but rather look for negative news, if it appears in abundance without any logical justification for it, then this is a suitable opportunity to buy because the feeling of fear is stronger than greed, and many may sell for those levels, especially if they continue Negative news and vice versa may not necessarily be true.

As a technical analysis, we have closed above the Momentum Reversal Indicator’s (MRI), which means the possibility of testing the resistance level at $35,260, although I do not think it will be broken, but if it is broken, we will be near $40,000 soon.