Is Bitcoin bullish or still bearish?

[Imran_Noori]

Bitcoin started 2023 incredibly and reached $25K level but again bounced to $22K level, some crypto analysts say that Bitcoin is still bearish and could face a downtrend while others think that the bear market is over.

What do you think? Is Bitcoin bullish or still bearish?

 

[Riberet19]

The market trend is clear that it is still bearish, it has not reversed at any time its pattern of bearish to bullish trend, and that is confirmed by the graphs and the latest movements, in addition let's look a few days back to the speech of the Fed of Jerome Powell was to say what his intentions were and how interest rates would increase and the macroeconomic outlook that awaits us and after this speech, the whole market went down

 

[Nomad]

Bitcoin was doing really great but then something happened and the price started gong down. I think bitcoin is still in a bearish run and the crypto winter is not over yet. I think the market will not go bullish in 2023.

 

[eenya00]

Currently from my analysis I did recently Bitcoin is still bearish but I expect it to go bullish before the year is over from my own personal analysis which is not a financial advice.

 

[Riberet19]

Currently from my analysis I did recently Bitcoin is still bearish but I expect it to go bullish before the year is over from my own personal analysis which is not a financial advice.

Yes, all of us who are invested in Bitcoin expect it to be bullish, who would not want it to rise, but the reality may be different and we have to be realistic, I am currently bearish

 

[GIFTMICHAEL]

Bitcoin is still bearish, it recorded an high of above $60k dollars in 2020 and now dropped down to $15k and still struggling to get back to $30k in the last one year.

But Bitcoin is still the biggest crypto currency and we are expecting more from it as well.

 

[eenya00]

Overall this year it is safe to say Bitcoin is bullish this year as the price we have Bitcoin is currently greater than the price it ended last year December, so the signs have been good

 

[Mayorla]

From the chart, It is clear that Bitcoin is still bearish.
Until it break some important resistance levels, Bitcoin would still remain bearish.
And I believe before the end of the year, It would return to Bullish.

 

[Potuse]

Bitcoin as I started moving up and that is to tell you that it is gradually becoming bullish and it is indeed a very good way to make decent money from Bitcoin.

 

[Ja Sa Bong]

If you look at Bitcoin's chart, you're going to find out that in the daily time frame, the price is bearish, in 7 days time frame it's bullish and in 1 month time frames it's bearish. This goes on to conclude the price of Bitcoin now to be in a bearish market move.

 

[Heatman]

If you look at Bitcoin's chart, you're going to find out that in the daily time frame, the price is bearish, in 7 days time frame it's bullish and in 1 month time frames it's bearish. This goes on to conclude the price of Bitcoin now to be in a bearish market move.

View attachment 5569

From the chart diagram, it's very obvious that Bitcoin is bleeding so hard. New investors have an opportunity to invest in Bitcoin now because of how the coin is dipping. The fall in price might still go down low but one should just be mindful of the kind of risk they take with their investment.

 

[Ja Sa Bong]

From the chart diagram, it's very obvious that Bitcoin is bleeding so hard. New investors have an opportunity to invest in Bitcoin now because of how the coin is dipping. The fall in price might still go down low but one should just be mindful of the kind of risk they take with their investment.

There's been over $300 drop in the price of Bitcoin from when I shared the chart price on August 31, 2023 to September 9, 2023. Does anyone need to be told we are still in the bearish market run? This will keep happening till the next 6 months.

 

[Heatman]

There's been over $300 drop in the price of Bitcoin from when I shared the chart price on August 31, 2023 to September 9, 2023. Does anyone need to be told we are still in the bearish market run? This will keep happening till the next 6 months.

This bearish market in Bitcoin will pan out well for those who knows how to take advantage of the market. Just know how to study the cryptocurrency market, know when to invest before the bullish market kicks off. I know some people who are selling Bitcoin short in trading. They have been making good money so far.

 

[Riberet19]

I believe that the crypto market remains bearish until there is a catalyst that makes us change the course of the market, for now both the macroeconomic situation and the crypto market itself are giving signs that the probabilities of continuing to fall are higher than rising.

 

[Ja Sa Bong]

I believe that the crypto market remains bearish until there is a catalyst that makes us change the course of the market, for now both the macroeconomic situation and the crypto market itself are giving signs that the probabilities of continuing to fall are higher than rising.

This is very correct. I've studied everything to see there's not going to be any sudden pull up in prices of cryptocurrency till this year is over and out. Global business are looking at closing their business with better financial status. They won't be taking any rash decisions which may react on cryptocurrency price this year.

 

[Heatman]

This is very correct. I've studied everything to see there's not going to be any sudden pull up in prices of cryptocurrency till this year is over and out. Global business are looking at closing their business with better financial status. They won't be taking any rash decisions which may react on cryptocurrency price this year.

The analysis that I have on Bitcoin, it's going to keep trading between $26,000+ to $27,000+ and it's never going to drop below $26,000+ around December. We will likely see the price pull up to $28,000+ before the year runs out.

 

[Ja Sa Bong]

The analysis that I have on Bitcoin, it's going to keep trading between $26,000+ to $27,000+ and it's never going to drop below $26,000+ around December. We will likely see the price pull up to $28,000+ before the year runs out.

What I have with my own analysis isn't too far from what you stated above. My own analysis put Bitcoin to be around $30k around December. I've been tempted to buy now and ride it up to $30k but I'm going to resist it.

 

[Heatman]

What I have with my own analysis isn't too far from what you stated above. My own analysis put Bitcoin to be around $30k around December. I've been tempted to buy now and ride it up to $30k but I'm going to resist it.

Well, it's all about the risk that you still want to take with further investment in Bitcoin or even any other cryptocurrency. There's a potential of making a profit for investing in short term of 3 months. Just be cautious with how much you are investing.

 

[Grant]

I was expecting Bitcoin to rise up to $60,000 again, but so far it's been slowly heading up. Right now I think it's at like $26,000 currently, and it seems to be stuck around the $20,000-$30,000 mark.

I don't think it's going to rise like we expect it to. I think it's going to stick around this price tag for a while.

 

[Heatman]

I was expecting Bitcoin to rise up to $60,000 again, but so far it's been slowly heading up. Right now I think it's at like $26,000 currently, and it seems to be stuck around the $20,000-$30,000 mark.

I don't think it's going to rise like we expect it to. I think it's going to stick around this price tag for a while.

This is the reality that we are facing currently with the price of Bitcoin and I don't think anything is going to change more than what we have seen so far.

I believe that if there is going to be any kind of serious change with the price per ton of Bitcoin we are most likely going to be seeing it from next year 2024.