BTC Sentiment Poll for May

[tokeweed]

So yeah, we never saw BTC go up to 75k and stay above it and there was somebody in the April thread saying that it would be impossible for him to guess it right since the poll was exclusively just for April.  Mmm ok...  So let's run it back again.  Same poll as April:  Will BTC close above 75k for the month of May?

Here's the chart.  It honestly doesn't look as bad as everybody thinks overall about the market rn.

[AbuBhakar]

Looking at the chart you provided. It more on bearish sentiment since there’s already red candle form for the time frame(monthly time frame?) you are using after a consecutive green candle.

If you check the previous candlestick pattern on your same chart shows that Bitcoin will took multiple red candle before it will continue again the uptrend movement once the price find a strong support for the month.

I’m speculating that the price will be sideways from 49K to 60K for this month.

[Oshosondy]

If you check the previous candlestick pattern on your same chart shows that Bitcoin will took multiple red candle before it will continue again the uptrend movement once the price find a strong support for the month.

I’m speculating that the price will be sideways from 49K to 60K for this month.

If you speculate that bitcoin will be between $49000 and $60000. That is not multiple red candles. Or is that not a month range candle sticks? Bitcoin fall to almost $57000 yesterday.  To get to $49000 is not a multiple red candles because falling from $73800 to $56600 is much more significant in a month candle than to fall from $56600 to $49000.

As for me I do not think bitcoin will fall up to $49000 even if it falls below $50000. That would be a strong support between those prices.

[Ever-young]

I don’t know if it could hold on for a little long or if it will fall back below $57,000 again but from what I’m seeing right now from the candle even before the month ends we will see bitcoin price reach $70,000 probably before the end of second week of May.

Bitcoin chart seems to be a little be confusing to read nowadays even when the candle clearly shows green most times it just take a uturn when we less expect it.

[fuguebtc]

Almost every prediction about April was wrong because people were too optimistic about the halving and this time I believe people will start to get scared and lower their expectations instead of remaining bullish about the price increase this month. Personally, I don't believe in what the charts show because not only can we do technical analysis but market makers, whales can even create such things. I think how bitcoin will move is entirely dependent on crowd psychology.
If the crowd continues to be bullish, bitcoin's recovery and growth won't happen anytime soon, but if the crowd gradually starts to get scared and stops being bullish, that's when bitcoin will skyrocket.

[Zaguru12]

Here's the chart.  It honestly doesn't look as bad as everybody thinks overall about the market rn.

I actually feel the FUD in price by many investors, this is actually the first time in 6 moths that a monthly candle closes in bearish sentiment. Since from September 2023 all months have closed In a bullish sentiment. So April closing in bearish shouldn’t be a thing of worry if you ask me, we all know that bitcoin price will definitely come back to correct or technical come down to sweep liquidity left at the bottom or the Fair value gaps left behind (FVG).

On the bitcoin price, I see first of all a strong support $56,754 and I think for now it will hold except if any bad news comes into the market then we might have to clear more liquidity below and a new support at $54,445 to $52,345 will be my new demand zone. As for the resistance it is currently trying to hold a level between $61,195 to $63,245, a break from this region will push us up. For now with this month starting in a consolidation phase i will say my highest price peak for the month will be $67k region, while the support will be at $52k region.

[cabron]

It's too early to say whether things could be different for this month but I have a gut feeling we are going to see green candles since we have been very red since last month.  Just hoping we're going up this time.

The ones that I am going to expect however is that prices will take a long time to shoot up for it may move sideways up to 2-3 months. But it might be the cause of altcoin season as some speculators are saying.

[blckhawk]

I'm still on the fence on this one but I do believe that it's going to be going back up and stabilize for another month or two, I mean that's how I see this kind of thing, with people dealing wth the shock of the sudden price drop, they're going to trade carefully because they (bitcoin investors/traders that are hyped and thougt that bitcoin would never go down again) don't want to be making the same mistake again which might make things worse for them. That's all that I believe about bitcoin price this May. Best thing to do is to just wait I guess.

[Gozie51]

I'm not really worried about the falling price of bitcoin because I expected it to happen after halving but the point is at what stage will it be considered appropriate for further bull. Two days ago the price went from around 61k to 57k and went back to 60k . Perhaps the area of 57k is a resistance that we are going to keep an eyes on if it will come back to retest it. I think if that area is broken this month, it means we are going to see bitcoin going down to 50k which is an area I feel more buy will happen for the bull. For now, we are still going to speculating if bitcoin price is comfortable going up at this time barely few weeks after halving.

[legendbtc]

It's too early to say whether things could be different for this month but I have a gut feeling we are going to see green candles since we have been very red since last month.  Just hoping we're going up this time.

The ones that I am going to expect however is that prices will take a long time to shoot up for it may move sideways up to 2-3 months. But it might be the cause of altcoin season as some speculators are saying.

We only have the first red candle after 7 consecutive green monthly candles, so what you say we have many red candles is not entirely accurate. And continuing to expect a green candle this month is actually a bit greedy as well as having too high expectations. For the market to move higher, there will need to be significant corrections and we need to accept that reality.

Personally, I don't think there will be too many positive movements this month as bitcoin needs a correction before a stronger recovery. Just as we should not forget to “sell in May”, May is often a bad month for the entire financial market.

[btc_angela]

I voted for no.

Not that I'm a bearish guy, but it seems though that the sentiments for this month, might not be as lively as let's say around February or March. Maybe investors right now is somewhat not willing, at least because of some negative news.

Currently, the price is having a hard time getting back to $60k. I think that will be the aim for this not look at $70k'ish++. Just go and conquer our previous support line and maybe next month it will be different.

[STT]

Not sure I can predict the price but I can easily say the poll will be a negative to this question for this month.   Personally I'm fine if it takes the whole year to acquire the 75k level as a reasonable price, we will gain something from the build upto that price and I dont want to see a spike on the graph.

From the graph its possible to see where it went sideways previously at 60k or the other area with lots of sideways action is 50k and it could need to be reset back to that level before the next bullish movement occurs.  75k could be a negative for a few polls yet.   I was expecting to be wrong in saying sub old ATH for this year but it might go that way in conclusion even though we did exceed the old ATH.

[FinePoine0]

So yeah, we never saw BTC go up to 75k and stay above it and there was somebody in the April thread saying that it would be impossible for him to guess it right since the poll was exclusively just for April.  Mmm ok...  So let's run it back again.  Same poll as April:  Will BTC close above 75k for the month of May?

Here's the chart.  It honestly doesn't look as bad as everybody thinks overall about the market rn.

The halving has only been organized for (approximately) 13 days, but you should look at past halvings. Bull markets start between 100 and 150 days after the halving takes place, so I'm right that Bitcoin will touch 75 this May.  I don't think As there is a bearish market position at present, it is beneficial for investors. The more Bitcoin investors buy, the more they can profit as the Bitcoin bull run is set to begin in 2025.

Most bitcoin prices are likely to rise more when the bull run begins.

[adaseb]

I could guess that most results will be no. Which might be a good thing, since everyone is bearish, it might mean we bottomed. Either way we broke $60K support which is not good. We are now retesting this strong resistance and hopefully we will engulf the area and close the weekly candle with a long wick. The weekend is almost here so there is only 1 more active trading day which is Friday.

Flows are bad for the etfs. They were negative for the past few days and yesterday we had like $500M in outflows and IBIT was negative for the first time. Seems people want to get out.

[poodle63]

market greed index reduced even though various countries just tried to propose the bitcoin ETF, kinda make me confused to be honest, but seeing the analysis from various places, some people said may is the month where bitcoin usually have negative sentiment where people are liquidating their money into cash, i don't exactly know the exact reason since it could be many but i don't expect this month around to be a good month.
prolly we gonna need to see in Q3 when probably bitcoin is gonna be making some meaningful move only then we will see the trend for the end of the year and whether it can make a good rally.
though thats just my speculation, probably inaccurate anyway.
but in my opinion as long as the price never falls below $50k i'm okay with it, back then, reaching $50k is already such an achievement but right now people are afraid.
such stark difference could happen within span of months.

[Popkon6]

Bitcoin price is always up and down, it is above the support number of the bearish market in April. Because Bitcoin price declines after the halving is the most ideal for investors, investors will definitely express interest in investing if Bitcoin price is within the control of investors. And this is the biggest opportunity to invest before the bull run, so I think it's very likely that the price of Bitcoin will be between $50K and $60.

[salad daging]

The month of May tends to be more down due to some bad sentiment but this is not sure if it will be a little bullish but I am not sure this month bitcoin will move to a greener candle but I saw some expert tweets although this is not an exact reference then the price will remain sideways which is better is to continue to accumulate.

What is the past history of the month of May after halving does it have almost the same candle? But usually May is more correction then after this month ends early June bitcoin will experience a slight increase.
I chose to vote NO,, not that the price will not go up, but I have different thoughts this month bitcoin tends to go down more.

[Yaunfitda]

I will go with the current sentiments of most members here: No.

And if you look at May during the last halving of 2021, it was -35% that month. We could be very lucky that we are still -2% and not that big downfall just like the last cycle. And I wouldn't be surprised if the price goes to $50k as the last leg up before we can finally felt the impact of the bull run in June. So just HODL on, and be patience and then just continue to accumulate. There's nothing to do but that kind of investment strategy.

[kotajikikox]

So yeah, we never saw BTC go up to 75k and stay above it and there was somebody in the April thread saying that it would be impossible for him to guess it right since the poll was exclusively just for April.  Mmm ok...  So let's run it back again.  Same poll as April:  Will BTC close above 75k for the month of May?

Here's the chart.  It honestly doesn't look as bad as everybody thinks overall about the market rn.

indeed that this does not look bad but this does not also seem to be breaking 75k again this May though we are nearing 60k once again today.
we are failed last month so for me ? I will not expect this happening this month so there will no other bad decision to make for me .thanks for the chart mate but this will give us idea to what to expect and what to decide.

[Republikcoin.com]

So yeah, we never saw BTC go up to 75k and stay above it and there was somebody in the April thread saying that it would be impossible for him to guess it right since the poll was exclusively just for April.  Mmm ok...  So let's run it back again.  Same poll as April:  Will BTC close above 75k for the month of May?

Here's the chart.  It honestly doesn't look as bad as everybody thinks overall about the market rn.

Currently, the distance between the current price of Bitcoin and the price range of $75K is starting to get a little far because Bitcoin needs a price increase of more than $15K to reach a price of $75K this month. So I'm starting to think that it seems like it will be a little more difficult for Bitcoin unless the price increase can start from now onwards until the end of next month without the slightest price correction in the market. But on the one hand, I still have confidence in seeing Bitcoin at $75K, but it doesn't look like it will happen this month.