My argument on why this might not be the beginning of the bull market

[alastantiger]

A real breakout is how direction is confirmed, real because it has to be confirmed by both momentum volume which usually signify that there is liquidity to drive the market. This is how the market works and it will only fail when the breakout did not satisfy any of the conditions above. We may not establish a bull run for now but the market is looking determined not to seek a new low within this cycle and that is something exciting to know for those who are afraid of seeing their portfolio in red.

The market is having a strong buying momentum because it fell below $80,000 and the market is right back up above $80,000 again between few days. We might not be in the bull market although the buying power supporting Bitcoin price right now is strong that anytime the market tries to fall, there is always a push back from the buyers and I think this is being caused by the institutional investors waiting to buy the dip of the market. There are strong signs that the market has gotten enough support that if the bull market was to start now the bull market can start and the market will be able to hold through the sell pressure and not crash.

[Finebone]

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The market is having a strong buying momentum because it fell below $80,000 and the market is right back up above $80,000 again between few days. We might not be in the bull market although the buying power supporting Bitcoin price right now is strong that anytime the market tries to fall, there is always a push back from the buyers and I think this is being caused by the institutional investors waiting to buy the dip of the market.

By looking at the price chart on a monthly timeframe, it is very clear that the bullish momentum of Bitcoin price has come to an end, because if the bearish candle stick manages to close the way it is right now, which entails a strong reversal signs, them in the month of November and December, we should be expecting the price of Bitcoin to retest the strong $74k support level. Although nothing is 100% certain in the market, because a good or bad news may change the whole narrative of the market, but as things stands, their are higher chances that the market may crash even further in this coming month than going upward.

[kawetsriyanto]

The market is having a strong buying momentum because it fell below $80,000 and the market is right back up above $80,000 again between few days. We might not be in the bull market although the buying power supporting Bitcoin price right now is strong that anytime the market tries to fall, there is always a push back from the buyers and I think this is being caused by the institutional investors waiting to buy the dip of the market. There are strong signs that the market has gotten enough support that if the bull market was to start now the bull market can start and the market will be able to hold through the sell pressure and not crash.

It's bears vs bulls. Some people are trying to keep the bearish season, meanwhile other people expect for the faster bullish season. That's why Bitcoin price looks trying to survive above $80k although it has declined below that price few times. I'm sure, the price still can drop again below $80k although some people try to keep it above $80k. We must be aware it is still bearish season. So, the price of Bitcoin tends to decline than to increase constantly.

By looking at the price chart on a monthly timeframe, it is very clear that the bullish momentum of Bitcoin price has come to an end, because if the bearish candle stick manages to close the way it is right now, which entails a strong reversal signs, them in the month of November and December, we should be expecting the price of Bitcoin to retest the strong $74k support level. Although nothing is 100% certain in the market, because a good or bad news may change the whole narrative of the market, but as things stands, their are higher chances that the market may crash even further in this coming month than going upward.

IMO. We can't ensure that the uptrend momentum has been over already. If Bitcoin price still can survive above $80k until the end of this month, I assume we may have another bullish/uptrend momentum in the early of the next month. In November-December, it isn't impossible that Bitcoin price may drop to around $74k but it is just our speculation. It isn't impossible that Bitcoin price move unexpectedly.