Bitcoin hit bottom and is set to rise

The daily chart for Bitcoin just showed a classic VSA reversal signal with a huge volume spike during a long red candle. This pretty much confirms that the selling pressure has likely run its course. On the futures side, Funding Rates have turned negative. This suggests that all that excess bullish leverage has been wiped out from the market. Things have cooled off a bit, so we shouldn't expect more margin calls pushing prices down further. Looking at the spot market, we're noticing a lot of selling at a loss by Short-Term Holders (STH-SOPR). Bitcoin has managed to shake out the weak hands, leaving mostly HODLers in the game now. Bitcoin’s MVRV ratio is nearing a key support level. Historically, this level has marked the 'bottom' in previous bull cycles. Plus, we’re seeing a big inflow of stablecoins to exchanges. Whales are converting fiat to scoop up BTC at these 'discounted' prices.

After many years, I have seen so many predictions like this one, with analysis and a certain logic behind them, fail miserably, that I am not going to get excited about what is predicted in the OP. I believe that now more than ever we are in uncharted territory. No one knows what is going to happen.

Exactly, as what we have seen in this bull run, pre-halving ATH, ETF's, institutional money, getting as high as $126k and short of the conservative $150k prediction. So it just shows that we could be in the uncharted territory right now. No one has the crystal ball to see what the future holds. Sure there could be TA that can help us. But still it's not a exact analysis, it will have to break at some point. The only thing we can do right now, is to prepare for the worse, or see that bearish season could be just around the corner.

Your analysis shows an impressive explanation that makes it very possible to see it rising anytime soon, however, history or analysis we made don't seems to work the same way we have expected of them to perform, because anything could also influence the market to rise, as it does not go the same pattern we might have expected of it, while many will still say that the bullrun will still last to the end of this year.

Who knows Bitcoin will go lower than it is now? No one knows for sure because I think that it will continue to go down for a while. Perhaps I am wrong but it is better to wait for more. This month could be like the previous month so we need to be careful. Now is a good time to buy back in while Bitcoin is under $100k. But if the chart shows it's going up, that needs time before the price increases. You can keep an eye on the market and don't forget to analyze.

If the territory is truly uncharted, then why do we constantly keep ending up in a crypto winter?

Buying back Bitcoin might be a bit premature right now. It's only dropped 30%, and we've definitely seen way bigger corrections in the crypto market. A better strategy would be to cut your position on upward bounces, if you can do it without taking a loss. I've actually decided it's better to increase my altcoin share. I chose TRX because, over the last year, it moved up 5 spots in the top-15 rankings. That's a super strong move for such a large asset. Plus, my Cryptomus exchange lets me earn 20% on holding TRX. That's a "space-level" deal, honestly!

I am doing the opposite. I am still holding Bitcoin and altcoins as well, while the entire market is still in a downward trend. I plan to sell all my altcoins just once we start to recover (which may not happen anytime soon), but I am not buying any altcoins at this time. I am hesitant to purchase any altcoins due to my previous negative experience with them. I am actually regretting my decision to buy too many altcoins and hold them for a long time now. I will hold my Bitcoin as for now.

I no longer own any altcoins, and I traded some for Bitcoin before Bitcoin hit $100,000. Altcoin prices are highly volatile and can drop dramatically in a short period of time, even more so than Bitcoin. This is why I decided to trade them for Bitcoin and focus entirely on Bitcoin for the long term, which I believe will be much more profitable. Selling altcoins when the market begins to recover is a good option, and buying Bitcoin to increase your holdings is also a good idea, as the recovery of altcoins will depend on Bitcoin, and it's all just a matter of time.

Whatever technical analysis we do is just analysis, but no one can be sure whether Bitcoin has reached the bottom or whether this is just the beginning of a bigger drop, since from here the market is just more unpredictable and it would be best to be prepared for whatever the possibilities that will happen in the market, and it's best not to panic about market conditions because a bear market is not something that should be feared too much, but rather a natural phase in the market cycle.

I sold most of my Bitcoin at 91K last night. I don't own any Bitcoin at this moment; there might be some leftover. But I am done for this season. I will start accumulating more soon once the correction is done. I am still waiting for Altcoins because I am already on the floor price, and it is the worst time to sell Altcoins. Now I am ready with my fiat, so I can actually buy back if the market drops further. I could have taken a profit when Bitcoin was at $ 125,000, but like some others, I was also holding because I thought we would reach $ 150,000 this time. I'm not sure if it will reach 150K this time, but I was still in profit when I sold most of it. I probably will regret it in the future, but I needed some money at this moment.

I stopped trusting charts a while ago. It is not much different than fortune telling to me. You see and tell that by looking at the chart in front of you but someone else can look at the same chart, or zoom out/in and tell a different story. In the end there are always 3 choices. Up, down, sideways. Some people tell it can also go backwards but I don’t think that’s possible. Anyway, you are quite bullish as far as I see because you think btc has bottomed.  It is only what? 30% down from its ath? I say much lower prices are possible. I don’t say it will happen. Don’t get surprised if you see below $50k and it would be perfectly in sync with bitcoins price history.

If that is about Bitcoin, I don't think it is a bit premature because if you use Bitcoin as a long term investment, you will accumulate more. Even if more corrections happen, that will not stop you from accumulating. But I guess that is your strategy which can only work for you. Choosing TRX will not be a problem considering all you say. But I hope you can analyze further to choose Bitcoin and put it in a higher place. I also earn decent amounts by staking it on Binance so I am waiting for TRX to increase.

Strong analysis on the chart allows it to happen to believe the chart I am also no longer completely sure, From the experience that happened starting from when I got to know the crypto market there is no stable rise and fall according to what is going on. many people tell different stories in the situation where the price of bitcoin continues to decline they also say today BTC has reached its lowest point while the history of Bitcoin prices can pass $ 50,000 and I also don't want that to happen hopefully December will be a good start for all of us.

As of now there are fear and panic in the market and in situations like this, it is quite difficult to just trust the technical analysis. Analysing the chart is not a bad idea and it might give us a hint about further moves but right now I think fundamentals is what we should focus on. Bitcoins are highly reactive to fundamentals and people are relying more on news events instead of charts so this is what will decide the next move at least for a couple of months. I think OP has a good analysis but he forgot to consider the fundamentals. We should think both ways. Fundamentals will help us understand the sentiments in markets which prove to be bearish as of now so I do not think that the bearish trend will break this soon.

Good to see your analysis and predictions but I do not really think that the selling pressure is exhausted. We might still see some dump coming along because people are patiently waiting to start buying at much lower levels. After months we have seen this level so a few have started panic selling but a lot of people are waiting for a certain drop so they can start filling their bags again which will create buying pressure. As of now, I do not see that buying pressure which makes me assume that the drop might continue. I was ready to start buying at around $90,000 because I thought we might hold that level but I was proven wrong so as of now, I will not make any further decisions until the market stabilizes.

Yeah, exactly!  Like when someone says Bitcoin has hit rock bottom, and then bam!  It drops another 10% in a day.  So much for those expert guesses and what seemed like smart analysis. So yeah, keep that skepticism ready.  Its a highly emotional, speculative market driven by fear and greed, not expert certainty.

So do you believe now that you can’t predict its movement accurately .. Everyone is free to make predictions with whatever TA they are good at but again short term analysis doesn’t work that much because Bitcoin itself doesn’t respect TA that much, but at least we know it’s been rising over the years.. FA works better with Bitcoin and that’s even if you could get info, event details… and so on before it goes boom!

TA is shit, I'm yet to see good TA and to be honest I haven't seen anything close to being good this year. Every single bullish prediction for the year has been bad. Let's give credit when it's due to some of the best predictions in the space: Bernstein predicted $200,000 in 2025 Standard Chartered $200,000–$250,000 Bitwise 200k by the end of 2025 VanEck 180k in 2025 JPMorgan 145k Also, Standard Chartered claimed in August that ETH would reach 7,5k this year. If all these supposedly educated and experienced analysts can't do it right, don't expect it from a bunch of social media influencers.

This is why you gotta becareful when Bitcoin dips because you have no idea if its a dip which will lead to higher prices or is its just a dead cat bounce and it heads and goes lower. I learnt this the hard way by buying the dip in 2014, then in 2018, and then in 2022, it looked like am amazing deal at 20%,30%,50% off however it kept dipping and dipping and dipping. Its not only Bitcoin which is suffering. The stock market looks tired also, NVDA has good earnings and went up yesterday after hours, today it opened positive but it had a horrible sell-off. Seems the smart money was just offloading their shares to the retail people. And the VIX is also at highs for the year, the next few days can get very violent, you gotta be careful.