Is Bitcoin In Bullish or Bearish Trend?

[asrinur]

I think whether Bitcoin is in a Bullish or Bearish trend currently hangs in the balance, with market sentiment depending on whether the latest price action represents a healthy correction or a bull run trap. The subsequent price state and ability in the support and resistance range will be very important in determining market sentiment.

[jaberwock]

I think whether Bitcoin is in a Bullish or Bearish trend currently hangs in the balance, with market sentiment depending on whether the latest price action represents a healthy correction or a bull run trap. The subsequent price state and ability in the support and resistance range will be very important in determining market sentiment.

I do not think it's that sensitive, I mean we are near 38k levels, even with binance news, even with sec, even with going this high and having a sell-off expectations, we are still growing. That should be a proof, just this summer we were under 30k, not so long ago we were at around 25k, it wasn't really that long ago to be fair.

So, to say that we are not sure if it is in bullish or bearish market would be unfair, it's already in bullish market. Just because it may not go up some 10k+ more, doesn't mean that it's not in bullish trend, the fact that it went from 25k to near 38k is already bullish enough we should consider that when we are calculating. That should be a great hope for the people, and to be fair for the future as well.

[virasog]

Despite a decline in market values, we are still in a bullish condition at the present. I don't see a breakout that will allow it to liquidate and then rise again. To be honest, I haven't seen anything like that happen so far.

But this can happen at any time; I'm saying there is no set time when or when this can happen. As a result, if we look at its chart graph, we can see that its price has barely altered. And I believe that in December, there will be a move that will both surprise and perhaps surprise most people. It is possible.

Recently we have seen a piece of very bearish news about the Binance owner CZ where he stepped down as the CEO and was charged with allegations of money laundering, but this negative news was not seen reflected in the bitcoin price action as the price didn't dump much and today again we see bitcoin over 38,000$.

This clearly shows that whales aren't interested in the bearish side of things and the bitcoin spot ETF and halving hypes are more than enough to keep the positive momentum of bitcoin up and running.

[EluguHcman]

However, I hold the view that Bitcoin's price is primarily driven by sentiment. Whether we accept it or not, it's our sentiment that propels Bitcoin's price, not technical analysis.
Technical analysis only comes into play when we need to determine the price range for our next buying or selling decision.

Of course you are right but I am associating my Concordia on this that the price of Bitcoin is determined by its investors hodles, halves and demands. What I can say here is being sentimental because the nature of the industry is demanded garbage-in and garbage-out that is the buying and selling else the coins potentials is compromised.
That is why it is difficult to fit predict the price of the Bitcoin since it is a global industrial investment, no one ever knows how many investors are opted in and how many are opted which was meant to be the systematic to give an exact prediction about Bitcoin price so then, more learned individuals who are deep soaked experienced to technicality values has come to play its part of predictions  as maybe said to be experts but yet it is being uneasy and mostly impossible to give an accurate prediction.

Some opt for Smart Trend, while a significant number engage in trading Bitcoin on futures contracts.

Bitcoin has a two categorical running which are long-term and the short-term. So those on the short-term runs would significantly insight towards the market price especially at at their affordable period as Bitcoin is a volatile digital currency so they tends to take advantage to buy in lesser price and hope for a market appreciation so they can sell out in no time as long they have made profit whole those on the long-term run does not really considers the rate of Bitcoin before they could buy to establish its investment and still won't be moved to sell out within a while on nomatter the appreciative rate in the market.

This is just why it is like some investors gets on the market my attractions of trends and the employment of their smart trading

but what if price manipulation, like the dynamics of price ranging for several days getting to weeks seen this month during "Uptober," comes into play with no significant direction on where price would go but a mere indecisive action that can lead to manipulation and sweep traders who either long or short.

Like You earlier stated, the market trends or possibilities is depended on investors and not about the industries technicalities so I don't think any way that the price can be manipulated with most reasons that Bitcoin is a decentralized digital currency.
If there happens that the rate value of Bitcoin is affected on both short-term and the long-term investors, then it is assumed that it is paving ways for pre-investors to embrace the market with the current price hence next a bull-run would be expected in a next gearing.

So, what is your perspective: Do you believe we are currently in a bear market, or is this merely a manipulation to discourage some individuals from Bitcoin?

I back my response to this with the quote and I believe it is already affecting the long-term and the short-term investors.

I really appreciates it that the will of man is not the will of the volume of Bitcoin volatility.
The bull-run that  was so much impressive to the inventors are on a seize and now willing investors (pre-investors) has its time to take advantage and be pertakers in the Bitcoin market now.
I hope those interested in the Bitcoin investment would realize that the season for them is now and doesn't long for a lower volume else they would be left behind whereas time comes where the volume of the market also have to consider the other phase of favouring the already investors in the Bitcoin industrial markets.

[bettercrypto]

Despite a decline in market values, we are still in a bullish condition at the present. I don't see a breakout that will allow it to liquidate and then rise again. To be honest, I haven't seen anything like that happen so far.

But this can happen at any time; I'm saying there is no set time when or when this can happen. As a result, if we look at its chart graph, we can see that its price has barely altered. And I believe that in December, there will be a move that will both surprise and perhaps surprise most people. It is possible.

Recently we have seen a piece of very bearish news about the Binance owner CZ where he stepped down as the CEO and was charged with allegations of money laundering, but this negative news was not seen reflected in the bitcoin price action as the price didn't dump much and today again we see bitcoin over 38,000$.

This clearly shows that whales aren't interested in the bearish side of things and the bitcoin spot ETF and halving hypes are more than enough to keep the positive momentum of bitcoin up and running.

In that regard, you were correct. Now that we are approaching and entering the bull run or halving in Bitcoin, whale investors are not paying much attention to such bearish events since they are paying more attention and planning.

This is also what the majority of communities in the crypto realm are preparing for. If there is anyone who is unaware of this circumstance, it is those who are unaware of what is now happening in the crypto business in which we live, and it is evident that we are in a positive trend.

[Dave1]

Despite a decline in market values, we are still in a bullish condition at the present. I don't see a breakout that will allow it to liquidate and then rise again. To be honest, I haven't seen anything like that happen so far.

But this can happen at any time; I'm saying there is no set time when or when this can happen. As a result, if we look at its chart graph, we can see that its price has barely altered. And I believe that in December, there will be a move that will both surprise and perhaps surprise most people. It is possible.

Recently we have seen a piece of very bearish news about the Binance owner CZ where he stepped down as the CEO and was charged with allegations of money laundering, but this negative news was not seen reflected in the bitcoin price action as the price didn't dump much and today again we see bitcoin over 38,000$.

This clearly shows that whales aren't interested in the bearish side of things and the bitcoin spot ETF and halving hypes are more than enough to keep the positive momentum of bitcoin up and running.

In that regard, you were correct. Now that we are approaching and entering the bull run or halving in Bitcoin, whale investors are not paying much attention to such bearish events since they are paying more attention and planning.

This is also what the majority of communities in the crypto realm are preparing for. If there is anyone who is unaware of this circumstance, it is those who are unaware of what is now happening in the crypto business in which we live, and it is evident that we are in a positive trend.

It's a negative news, but the market was not discourage by it, as we remain strong and we are still above $37k, one of the biggest support that we have. However, we still need to observe what the market or where will it move. Sometimes when we think that it is going in this direction, suddenly the market goes on the opposite side. Meaning that is volatility for us.

However, above $35k this end of the month is not that bad, and it goes and end at $37k then it's already a big bonus. At least no more lowest low or if we look at our lows last year, we are above 100%++ already and then we are looking for the bull run next year.

[Out of mind]

If you analyze a bit about the past of the Bitcoin market, you will definitely understand where Bitcoin is currently. We have seen some change in the market after two long years where the Bitcoin market is currently at $37,000. But it was the biggest bear in the market when the market turned from a peak to a bear market and fell around $15,000. But now that has changed a lot in a span of two to three months, the trend we are seeing in the market towards the end of 2023 is really encouraging for investors. However, if the resistance is high, the market is likely to be a bull market, and if the resistance is low, it is likely to become a bear market. It is very difficult to say. But we can consider the current time and say that since a huge halving year is waiting ahead, BTC is likely to grow further. And since this halving is not too far away, the market may quickly see bulls and the Bitcoin market will go higher.

[rodskee]

I think whether Bitcoin is in a Bullish or Bearish trend currently hangs in the balance, with market sentiment depending on whether the latest price action represents a healthy correction or a bull run trap. The subsequent price state and ability in the support and resistance range will be very important in determining market sentiment.

so what are we having now? is it a Bearish or Bullish? you have said about the market
sentiment so what is the sentiment in these days mate because it is given in the OP that we are being
asked so lets share what we believe is the situation and not another similar question(or almost similar).
for me we are at Bullish now and yes still going till December this year.

[tygeade]

Recently we have seen a piece of very bearish news about the Binance owner CZ where he stepped down as the CEO and was charged with allegations of money laundering, but this negative news was not seen reflected in the bitcoin price action as the price didn't dump much and today again we see bitcoin over 38,000$.

This clearly shows that whales aren't interested in the bearish side of things and the bitcoin spot ETF and halving hypes are more than enough to keep the positive momentum of bitcoin up and running.

In that regard, you were correct. Now that we are approaching and entering the bull run or halving in Bitcoin, whale investors are not paying much attention to such bearish events since they are paying more attention and planning.

This is also what the majority of communities in the crypto realm are preparing for. If there is anyone who is unaware of this circumstance, it is those who are unaware of what is now happening in the crypto business in which we live, and it is evident that we are in a positive trend.

It's a negative news, but the market was not discourage by it, as we remain strong and we are still above $37k, one of the biggest support that we have. However, we still need to observe what the market or where will it move. Sometimes when we think that it is going in this direction, suddenly the market goes on the opposite side. Meaning that is volatility for us.

However, above $35k this end of the month is not that bad, and it goes and end at $37k then it's already a big bonus. At least no more lowest low or if we look at our lows last year, we are above 100%++ already and then we are looking for the bull run next year.

If the price is strong, and doing great then could we even call it a "negative" news? We could say maybe irrelevant news, like something that the market didn't care, up or down, if the price doesn't move based on a news then I do not see it as either negative or positive.

I think when the price moves, goes up after a big news (like how ETF was approved which turned out to be a lie made the price go up) that's a good news and could be considered positive, or when the price goes down after a big news then we could say that it was a negative news as well. Anything else should be considered just a normal irrelevant unimportant news. We are going strong now, and I believe that we will keep on growing more and more in the near future.

[huu78]

I also don't think that we are in the bull phase, apart from the fact that it is not yet time, there are still many considerations that will occur, such as the upcoming cz trial, and bitcoin spot etf and eth too.
maybe after the halving that will be the beginning of good news for btc.

[kingvirtus09]

As far as I know, we can still make a profit whether the trend is bullish or bearish. Because we will know if the direction is purely upward, this is what is called bullish.

And when the flow of the direction chart graph is down, that means that we are in a bearish trend, and now this is where our skills come in to understand the use of tool indicators to determine in which direction its price value will go in the market.

[Kelvinid]

I think whether Bitcoin is in a Bullish or Bearish trend currently hangs in the balance, with market sentiment depending on whether the latest price action represents a healthy correction or a bull run trap. The subsequent price state and ability in the support and resistance range will be very important in determining market sentiment.

so what are we having now? is it a Bearish or Bullish? you have said about the market
sentiment so what is the sentiment in these days mate because it is given in the OP that we are being
asked so lets share what we believe is the situation and not another similar question(or almost similar).
for me we are at Bullish now and yes still going till December this year.

Well, he is undecided and neutral about the situation. We can't force him to give judgment about the situation and it was hard, especially for beginners. But for us who have been in the crypto space for several years, we can already differentiate. Yes, the market looks bullish this time as we are finally hitting back about $35k but we're stuck again. Because I thought that after surpassing $30k after a few months of lockup we would surpass $40k as well but that did not happen. However, despite the situation, I still believe that we are turning back high and bullish once again, not this year but next year.

[ivankoh]

This clearly shows that whales aren't interested in the bearish side of things and the bitcoin spot ETF and halving hypes are more than enough to keep the positive momentum of bitcoin up and running.

Yes. Whales will not be able to capture and win the current maintained accumulation trend, I guess they are looking for another opportunity and not at this time. The ETF is clearly positive for creating excitement in the market but I would like to add one more reason as Micro Strategy also continues to believe in bitcoin and bought another $593 million. It further strengthens the consensus of bitcoin's next moving trend. I guess we are bullish and there will probably be bullish breakouts very soon as bitcoin confidence and strength align.

[nurilham]

I also don't think that we are in the bull phase, apart from the fact that it is not yet time, there are still many considerations that will occur, such as the upcoming cz trial, and bitcoin spot etf and eth too.
maybe after the halving that will be the beginning of good news for btc.

I also think the same, we are still in the bearish period but it will be over soon. Sure, the Bitcoin halving will be the sign of the bullish season although it may not determine the beginning of the bullish period. Honestly, I also don't really know when the beginning of bullish season exactly. But if we consider the 4 years cycle, January 2024 ideally becomes the early of 2 years bullish season. 2022-2023 is the bearish season, 2024-2025 is the bullish season. However, not sure which month to be the beginning of bullish season.

As far as I know, we can still make a profit whether the trend is bullish or bearish.

Sure. A real trader must know how to make profits whether in the bearish and bullish season. The price will always fluctuate in every season, there will be always pump and dump. But when we are in the bullish season, the prices of most crypto coins will be easier to increase significantly. This is surely the chance to gain higher profits.

[yohananaomi]

I also don't think that we are in the bull phase, apart from the fact that it is not yet time, there are still many considerations that will occur, such as the upcoming cz trial, and bitcoin spot etf and eth too.
maybe after the halving that will be the beginning of good news for btc.

It seems that the trend towards a bullish market will not happen soon or this year, because I agree with what you said that next year will start to enter the halving era, where usually it will always start with a correction to strengthen so that it can move upwards later.So you need to be patient to get to the bull phase, but this is actually the best time to continue adding to your savings if you have sufficient funds. Don't lose the moment to gain profits.

[flyingcarpet]

I also don't think that we are in the bull phase, apart from the fact that it is not yet time, there are still many considerations that will occur, such as the upcoming cz trial, and bitcoin spot etf and eth too.
maybe after the halving that will be the beginning of good news for btc.

It seems that the trend towards a bullish market will not happen soon or this year, because I agree with what you said that next year will start to enter the halving era, where usually it will always start with a correction to strengthen so that it can move upwards later.So you need to be patient to get to the bull phase, but this is actually the best time to continue adding to your savings if you have sufficient funds. Don't lose the moment to gain profits.

I think we're in the preparation of the bull season. Bitcoin price will be corrected, but I'm not sure the expected rise will be until the end of the year. As you approach Halving, the price will be clear more clearly.

As you said, we must be patient, we must be ready to buy with possible price drops. We all know that we will enter the bull season and we know that we are approaching. Therefore, we should make our plans accordingly and act.

[Minor Miner]

I also don't think that we are in the bull phase, apart from the fact that it is not yet time, there are still many considerations that will occur, such as the upcoming cz trial, and bitcoin spot etf and eth too.
maybe after the halving that will be the beginning of good news for btc.

It seems that the trend towards a bullish market will not happen soon or this year, because I agree with what you said that next year will start to enter the halving era, where usually it will always start with a correction to strengthen so that it can move upwards later.So you need to be patient to get to the bull phase, but this is actually the best time to continue adding to your savings if you have sufficient funds. Don't lose the moment to gain profits.

I think we're in the preparation of the bull season. Bitcoin price will be corrected, but I'm not sure the expected rise will be until the end of the year. As you approach Halving, the price will be clear more clearly.

As you said, we must be patient, we must be ready to buy with possible price drops. We all know that we will enter the bull season and we know that we are approaching. Therefore, we should make our plans accordingly and act.

As for me, bear season is over and we are in pre-bull season. We are at the bottom of the mountain and what we are about to experience is climbing to the top.
Of course, we will have corrections before and after the halving but I believe there will be no correction so large that we will panic again. In my opinion, the main trend of the market is still up and up, we will not have any more dumping or prolonged winters. So I think it would still be appropriate if we said we are in a bullish trend.