BTC Sentiment Poll for July

[tokeweed]

Hey guys, just dropping by to say that there's a BTC price prediction contest going on by Sinbad.  I encourage everybody to take a crack at it and try to win some free money.

https://bitcointalk.org/index.php?topic=5458769.0

And thanks for the input dragonvslinux.  I really appreciate it.  I don't think there are a lot of guys here at BCT who has a lot of knowledge in TA and trading like you do.

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[Ziskinberg]

I'd expect a pump despite the possibility that there is some price downfall because I believe that there is more on the rise than seeing it dropping.
And looking at the current situation, it was not far to reach $37k, might will not really be this price but that can be possibly close to it. Because as we have noticed in the previous years, we can see an uptrend in the 3rd quarter and that is what I expect this time as well.

Perhaps, there is no wrong opinion here but I was hoping that we go more on the rise rather than seeing it dumping.

[FanEagle]

By the looks of it this week has been a very slow one and we are not seeing anything big at the moment. I feel like the best thing about the current situation is that we are going to increase out of nowhere when nobody expects it. This is why I believe that the best thing to do would be waiting. If you are impatient and sell because you did not see it go up, then you are going to be upset about it.

I hope that the best thing to do in the crypto space at this moment would be just finding a way to make as much profit as you possibly could. Of course this isn't really a small matter, and that means we are going to end up with a terrible ending, but that doesn't mean that we should be not so  careful about it, we can always be very happy about it as well.

[tokeweed]

^  Tell me about it...  It's getting a bit frustrating as it goes up to 31k then some guy starts selling it down, prolly even shorting it.  I think there's somebody out there protecting their hefty short positions cos why not just cover the short and shift going long?  :/

The best thing that's gonna happen is for it to shoot up and liquidate all those shorts along the way and force them to cover.  We have seen it before.  

But we'll see...  It's been almost 20 days in this range.  Something has to give.

[pooya87]

There's a guy online who says he got some data that goes back to October 2009 and it shows that BTC's best performing month on average is July.

There is always one guy who has some data saying month X is the best or worst performing month for bitcoin
The reality however is that months don't affect the market, the participants do. This is why we are still in sideways market and will continue to remain in this "limbo" for some more time which is what I voted for too.

[Aanuoluwatofunmi]

There's every possibility for bitcoin to reach $37,000 and beyond this month of July since it has been rotating round about the $30,000 more or below, the resistance to surge may be broken and we could arrived at something new again before the end of the month since we are yet to get to the halve of the month and if we also have the consideration of this month being the beginning of the second half of the year, we are also going closer to halving while months of the year does not determined what we should expect, the weekly candles may be of a direction in this the more.

[CarnagexD]

^  Tell me about it...  It's getting a bit frustrating as it goes up to 31k then some guy starts selling it down, prolly even shorting it.  I think there's somebody out there protecting their hefty short positions cos why not just cover the short and shift going long?  :/

The best thing that's gonna happen is for it to shoot up and liquidate all those shorts along the way and force them to cover.  We have seen it before.  

But we'll see...  It's been almost 20 days in this range.  Something has to give.

It will first manipulate going lower then aggressively trades higher. With an impulsive move taking both sides of the range then rallying towards the higher time frame objective which is at the moment going higher. That's how the consolidation market is being traded. Something has to give. Or you should say, someone's stop loss must be taken.

[bbc.reporter]

Is the US department of justice selling bitcoins under their custody again similar to what they have done on March? According to this article those bitcoins are moving. Also, bitcoin has made 6 pumps to $31k, however, there was a big dump after all 6 of those pumps.

In any case, the voters of sideways might be proven correct if the big seller continues to dump on our faces hehehe.



Crypto wallets belonging to the Department of Justice on Wednesday moved $300 million in BTC to new addresses in two transactions.

The feds hold Bitcoin that's been seized from criminals and sometimes move it around. In the past, they've done so because they intend to sell it—but not always.

The feds have since been selling the crypto bit by bit; in March, they sold $215 million-worth of the "digital gold." At the time, they said they plan to dump another $1.1 billion.

Source https://decrypt.co/148285/us-moves-300m-worth-of-silk-road-bitcoin

[tokeweed]

There's a guy online who says he got some data that goes back to October 2009 and it shows that BTC's best performing month on average is July.

There is always one guy who has some data saying month X is the best or worst performing month for bitcoin
The reality however is that months don't affect the market, the participants do. This is why we are still in sideways market and will continue to remain in this "limbo" for some more time which is what I voted for too.

The thing is, it isn't like he pulled July from his ass.  The guy used real data from the years since BTC started being bought and sold in an actual market.  So we can't just laugh and say he's being 'that guy'.  :/  I mean if the data says July had a higher than average chance of being a good month for BTC in the past then it could also mean July this year could also have a higher than average chance of being a good month.

Anyway, last call for the first part of Bitcasino's prediction contest for the guys who missed it.

https://bitcointalk.org/index.php?topic=5459313.0

[dragonvslinux]

^  Tell me about it...  It's getting a bit frustrating as it goes up to 31k then some guy starts selling it down, prolly even shorting it.  I think there's somebody out there protecting their hefty short positions cos why not just cover the short and shift going long?  :/

Short-term speculators probably don't want to be buying at the top of the trend, especially after we've already seen a few fake-outs to the upside. Better risk reward to be buying the upwards sloping support within this channel. Probably right though that shorts are covering their positions or getting liquidiated above yearly highs, yesterday alone there was $50m short liquidations for example.

The best thing that's gonna happen is for it to shoot up and liquidate all those shorts along the way and force them to cover.  We have seen it before.  

I still think quite likely. The current consolidation is reminding me of April 2019 around $5K that also had an upwards trending bull flag type structure before breaking to the upside, even with bearish divergence. Or otherwise the inverse of May last year when price was previously around $30K to $32K and consolidated for almost exactly a month before breaking to the downside.

But we'll see...  It's been almost 20 days in this range.  Something has to give.

Give it up to another 10 days imo. Usually after 3 weeks of consolidation in a tight range there is another weeks worth prior to a break-out 

[boltz]

Went for sideways as Bitcoin has no intention to go over 35k this summer not only for Jule but also has no intention to be under 27k so we assume BTC price will swing between these 2 range prices. Also , I still have my prediction with Bitcoin going under 30k at least once during this summer and we are not far as the resistance for 30k is not so impressive like it used to be 1 month ago.

[tokeweed]

Give it up to another 10 days imo. Usually after 3 weeks of consolidation in a tight range there is another weeks worth prior to a break-out  

Not overly concerned about not getting a break out as of yet tbh.  I'm more concerned about how long would the liquidiy last in support.  As we all already know, it won't last forever and it's gonna get sold down on over and over.  Hopefully sellers run out of sht soon before it happens.

Buy orders could dry up in the range around the red bar.

[tokeweed]

Looks like BTC is getting ready to puke guys.  :/  If it doesn't bounce from the red box, dunno...  Maybe it needs to puke again to get a bounce like it did when it dropped to 25k a month ago.  And the whales who were defending 30k looks tapped out.  A little more nudges down and we go lower to the next support down to 28k - 28.5k.

Stay safe out there.

Anyway locked the poll.  And here's the 4 hour chart with the red box.  It don't look too good.

[cryptomaniac_xxx]

^^, But we still have a week to go and who knows, maybe the sentiments might change for the better.

However, best case scenario for us is that the price will remain as it, I mean we might see a sideways pattern here that we are used to in the last couple of months until the break out because of the news about Bitcoin ETF.

So just remain calm, we are almost at the end of the month and it's good if we are still above $30k.

[tokeweed]

^  Sentiment will change for the obvious of course.  That's why I lock the poll before the month ends because it would be missing the point if it stays open til the last day.  Results would be skewed towards what the price is at the end of the month.

What these polls are supposed to do is find out what their sentiment is near the start of the month based on what happend to the months prior.  And looking at the price now, it seems like the voters' sentiments are on track with the market.  That's good!  

Edit:  Some guy sold down.  Not good.  =/

[tokeweed]

Hey guys, last call to make your predictions in Bitcasino's BTC July predictor.

Bitcoin Predictor July
https://bitcointalk.org/index.php?topic=5459313.0

You never know, it could be your lucky day.  

And...  sigh...  Just as I feared, BTC puked.  All those buy orders gone as support broke down.  And anybody left holding are trapped unless there's a bounce.  If not then they prolly sell and let it puke down more.  Next support is prolly around 28k - 28.5k.

Stay safe out there.

[YUriy1991]

Bitcoin's price exceeded $30,000 a week ago, but it experienced a minor decline since then while still maintaining a trading value above that threshold. Presently, the crypto market displays a slight bearish sentiment with no notable news impacting it. Nonetheless, the long-term sentiment remains optimistic, suggesting that Bitcoin could potentially surpass $35,000 by the end of this year.

It looks like there is a bull flag pattern that was formed when seen from the 4-hour time frame chart when the BTC price touched $29K and this is a bullish sign showing great enthusiasm from new crypto investors and traders. I think tomorrow it will also go up, if I pay attention the market is usually like that the last few months. If it goes up, like you said I think it's very good. Yes. moved towards and quickly recovered towards the $37,000-$38,000 level.

[JoyMarsha]

^^, But we still have a week to go and who knows, maybe the sentiments might change for the better.

However, best case scenario for us is that the price will remain as it, I mean we might see a sideways pattern here that we are used to in the last couple of months until the break out because of the news about Bitcoin ETF.

So just remain calm, we are almost at the end of the month and it's good if we are still above $30k.

It will also be good if bitcoin stays between $29,000 and $30,000 or below till the end of the month(a few days remaining). There isn't much to anticipate right now because most investors wouldn't want to sell at around $29k but rather accumulate more bitcoin

Since July monthly speculation didn't do as well as it usually does on average, we will continue to have a favorable outlook for the remaining months until bitcoin reaches the $35k and above price as anticipated for her at the end of the year.