Did you guys notice how Bitcoin climbed back over $90K pretty quickly after it dipped below that level last time? But this feels different. It seems like $90K is acting like a resistance point now.
I don’t think we’re in a bear market. Honestly, I see this as just a retracement. I believe Bitcoin will eventually rise above $90K again, but it might take a while to get there.
Just my two cents. I could be wrong.
Based on the chart, $90K looks like a major resistance level, but I believe it wont hold for long. Even though there was a recent dump, Bitcoin has already started recovering. Once it breaks past that resistance, we should see it return to the price range it was in before the sudden drop.
If Bitcoin lingers below $90,000, I'm afraid the prediction of those who saw $77,000 will likely happen. Like you said, the last time Bitcoin dropped so deep, it quickly went above $90,000 which is not happening now which means that the sell pressure is high and when it fades, we will see more consolidations that will last for few days if not more and then another sharp shock in the market before any rally. The shock can go as low as $77,000 to fulfill that prediction.
$77,000 looks like a very far price that bitcoin price will likely drop to now, if that happens, there will be a lot of panic in the market and people will begin to see that bitcoin is on a bearish trend. A lot of consolidations in the market for a long time will make many feel like bitcoin may not regain itself back to the $90,000 zone which is likely the resistance zone now if it falls below that price any moment in this period the market is on a downward trend. Any big drop in the market now that will make $90,000 zone not able to hold on to the market will just make it more difficult to believe that bitcoin is not on a bearish trend, a lot of controversies will happen by that time but my predicted price for a bearish cycle is not yet reached at that price still, so only how you view the market will affect your decision at the time the market goes dumping again.
knowing bitcoins underlying economic speculative window still ranges $70k-$350k (ish) so far for the years potential swings.. means that we still have wiggle room to test bottom this season, and then shift to test the true top (real 2025 ATH) during autumn winter
so take this season as discount season, if you ever thought of buying any more this is the season to do it. if not just hoard and wait until after summer
You're wrong. The 70k zone is recognized by most of us as a very likely bottom for a bull market correction. I've mentioned it months ago when we were going above $80k that 70-90k was achieved very fast and such zones are waiting for a retest. Very often in a bullish scenario the retest ends somewhere in the middle, so at 80, maybe even 85k. This is a bullish scenario. In a bearish scenario it goes slightly below the zone from which it started, so $65k. There will be a bunch of buys waiting for bitcoin to reach these lows.
That said even the bearish scenario is still a bull market correction so we will continue to a new high.
Note that we might be in a healthy bull market correction, or not, because there can be macro events that change the markets. Why are we correcting now? Because S&P and Nasdaq are going down. This is not a natural situation for bitcoin. It's being pushed down by the global economy. This means that we should continue the bull market, but if the global markets keep going lower we'll have to wait for that to end before we take off.
Its still not a big deal yet, we all got lulled into thinking bears just eat berries and out it comes at 40mph ready for lunch surprise Its not especially Bearish just because its got some force to it but I appreciate 90k as a fair place to judge in some pivotal way.
Reasons not to assume bear market just yet is quite a few because we have been rising for so long. The recent sideways drift might well resolve into a negative conclusion and sell off but its still healthy and underneath the inverse hype for a sell off, BTC is still shiny & bright imo.
200 day average is rising every day, giants foot steps dont care if you fall in and get wet thats just because you are a tiny nothing of a trader in this market. Bigger factors march on and upwards is still the direction for some time anyway. 80k is where 200 day is at, even if BTC is below the moving average the long term measure is rising continually.
I think in the numerous threads before this one there was an outcry about bitcoin having a strong resistance at $98k and if that recent resistance continues to be tested without any positive news that will break it through we will be headed for the downward trend and this is exactly what happened. If this current resistance of $90k gets tested more again with the current market conditions of low buys and huge sell I think it will definitely go for lower liquidity at the $85k and below it, this is technically possible because there is an FVG at the bottom too. The market sentiment at the moment doesnt seem bullish even to be expecting the pump immediately again
The way bitcoin is falling is kind of strange and resembles just bear market. No sharp drop and increase back, but the drop now is slow and steady. Bitcoin is about to get almost below $83000 just now. The price at $83100 just now. Let us see what will happen next. We need a sharp drop and price to increase back sharply.
The extremely high outflow of bitcoin ETFs has been the cause of the weakening bitcoin market. Investors are very cautious in this case and this high ETF cash outflow seems to reflect that there is a shift in sentiment from some investors. I agree the price of bitcoin will return above $90K - but this won't happen soon. Today I haven't seen any signs of the $90K resistance to hit - but instead found bitcoin looking set to test the support level at $82K to $80K.
In the coming days - the market may rally again, but investors will not enter at the same time if there are no signs supporting a recovery. I hope bitcoin doesn't actually hit the $80K support later this month - but I do hope it can get back to $90K.
Yeah, I am seeing what you're seeing. Before, when we've got some dips, they're just temporary and it won't even last for a day or two and we're back ahead to the top. But this time, it takes longer or we're just too impatient because we keep on comparing that moment. I also don't think that this is a bear market already. For every bull run that happens, there's a need for the most of the markets to go down and so as for Bitcoin. What I've noticed too is that the alts market isn't even following Bitcoin's dip.
And if you look at it, the price is $84k right now, so there are more dips to be expected as $90k obviously didn't hold and the next one $88k was already broken. I thought that we might go back to $90k already as there as some semblance of rally a couple of hours ago as the price goes to $88k-$89k.
So technically, we might see that we are in the bear market already, from as high as $109k->$84k right now. So that is a major correction in the last couple of months and it could be true that we could still go down to <$80k if this sentiments continue up to the next month.
Yes, I have noticed that the market has been close to $90,000 for a while now, but it has been pumping again and has gone close to $100,000, but this time it is being observed that Bitcoin has broken $90,000 and created a resistance of $80,000 from where Bitcoin is no longer rising upwards. This time we saw the lowest Bitcoin price in the last few months at $82,256. However, I may not be able to say exactly how long it will take for the Bitcoin price to go close to $100,000 again, but I can say this much that the Bitcoin price will definitely increase and a new Bitcoin record will be created by 2025.
I won't see it as impossible, but I never feel any worries as well because that is how the market is meant to be. We remind ourselves that the market is not always bullish, nor is it always bearish, and so the price moves up and down in a very unpredictable time. The only thing we can do is to be prepared and take all the advantages we get, if there are any, rather than complaining of missing it.
Currently, the price remains bullish despite the sudden correction, but the question is how long it will hold like this.
You're right about taking advantage of the current situation instead of complaining. Bitcoin dropping below 90k should be something interesting to every investor in the bitcoin market and shop trigger continuous buy instead of panic sales. It is recently observed that panic sellers have taken over the market which is the major setbacks bitcoin is facing. As of 26th February, "the BTC spot market recorded $42.5 billion in inflows and $45.4 billion in outflows, resulting in a net outflow of $2.9 billion within 24 hours".
In response to this, Eric Trump has advised for continuous accumulation of bitcoin this bearish moment why raising hope of investors about a soon coming bull run. It may take a while to reach 90k, but I won't be surprised if bitcoin achieves it sooner than expected.
Well, I do have that kind of feeling with the market now, but since a lot of people were waiting on the $80k+ range, it might be a different story with this if the USDT dominance is above the resistance now. It will still go with the market, and longing at this range with $85k would probably be nice.
I can see as well that there's lack of impulsive buying when BTC dipped, but I still think it's just ordinary corrections.
market like to trick people, now after liquidating billions chasing the liquidation point for people who open leveraged long position, it will chase shorter's liquidation point and go up at some point.
I'm thinking of opening long position right now but still contemplating and seeing the market first.
2025 is still underway, so I do think the rebound will happen eventually.
But for now, I would hope for a stabilization and lack of bad events that previously contributed to the whole chain of events we witness now
I clearly noticed all of the changes from high to low and going up again all of this are signs of a bear markets but my greatest concern is I hope it goes beyond this inorder to enable investors sell and the $90000 won't be resistance I don't think so cause it'll definitely go down again and possibly come up because this is basically what the markets is made of, so having this consistent fall and rise in price rate it's just for awhile and moreso it's an opportunity to keep buying and hodling.
Yes, Bitcoin have its power to lift up the price after it's down. But you need to be patience and could wait for some time. You don't have to panic if you see the price fall below $90,000 like what you see now. Bitcoin will be up in the right time so if you buy at the price now, you will see your profit come to you in the high price.
No, it is not a bear market but we are in the correction situation as usual. After all, Bitcoin is not yet achieve the highest price so we can still wait for that and prepare our Bitcoin.
We need to wait for some time and buy back at the low price. We can do other things if we don't want to buy and worry with the other down time. So our minds will distract from thinking about the price up and down.