Bitcoin Tests $71.9K – Bull or Bear?

[macson]

What are your thoughts on BTC’s next major move? More upside continuation, or is this just a short‑term recovery before another retracement?

I don’t see this as a bull run because the market remains bearish, and this is only temporary. It wouldn’t be surprising if Bitcoin drops back below $70k in the coming weeks, as there’s no momentum left to drive the price higher. So there’s no need to get too excited about the current market situation, it’s just a temporary reaction from investors to the Iran-U.S. ceasefire.

[tygeade]

While I know that this sounds crazy to many people, I still think that going lower is the way to go . I know that not many people believe this, not anymore at least, most people think that we are going to go up and we have gone up a bit so that is why many are hopeful about a big increase. On top of that, this war and higher gas prices are causing for inflation which means devalued dollar which means higher price for bitcoin. But even with all of that in mind I still think that bitcoin price will fall.

Because I believe that no matter what happens in the world, there is a four year cycle of bitcoin and this year is the bear year and nothing will change that, many things happened in the past during bear years as well and yet it still fell, same should be expected from this year.

[philipma1957]

What are your thoughts on BTC’s next major move? More upside continuation, or is this just a short‑term recovery before another retracement?

Let’s discuss! 💬

It's not yet clear that Bitcoin's current price of $71,600, which has reached $72,850, is a bullish trend, as I still believe it won't reach above $80,000 this April.
Bitcoin hitting $72,850 early in the second week of April will fuel speculation. It would be a good thing if it could eventually reach $80,000, providing a support level for Bitcoin, which could provide new insights into its May price assessment.

80k in may why not?

[Asiska02]

What are your thoughts on BTC’s next major move? More upside continuation, or is this just a short‑term recovery before another retracement?

Let’s discuss! 💬

A recovery should have boom the price by now, but for it to keep consolidating on that zone, I’m expecting some bearish move more and the market could face more downturn in the coming weeks. Bitcoin is not showing a clear path to move towards an uptrend, but rather it’s focused more on the consolidation. I feel the market bearish run is not satisfactory enough but the market sentiment looks to want the market to recover quickly but it’s finding it hard to happen. We are still stuck in this range but until a clear direction to the upside, I feel the market is still going to face more move to the downside for now or face consolidation for a longer period that expected.

[Iranus]

While I know that this sounds crazy to many people, I still think that going lower is the way to go . I know that not many people believe this, not anymore at least, most people think that we are going to go up and we have gone up a bit so that is why many are hopeful about a big increase. On top of that, this war and higher gas prices are causing for inflation which means devalued dollar which means higher price for bitcoin. But even with all of that in mind I still think that bitcoin price will fall.

Because I believe that no matter what happens in the world, there is a four year cycle of bitcoin and this year is the bear year and nothing will change that, many things happened in the past during bear years as well and yet it still fell, same should be expected from this year.

I agree with the prediction that Bitcoin will continue to fall rather than surge as many people are expecting. But it is not that many people do not believe it. It is simply that they do not want it to happen because most of them bought at a high price or have not yet taken their profit.

However, I disagree with the view that market cycles will never change. Although market cycle repeat once, but it can be broken at any time. There are currently no regulations requiring Bitcoin to follow a 4year cycle indefinitely.