Market Drop Ahead, Bearish Trend Continues

I've been looking at the market and checking out its recent moves, especially compared to what we've seen this May. Noticed that recent drop to $72,000? It’s different from the usual market shocks where prices fall a bit, find support, and then bounce back. What’s interesting is that when we see a drop like this, the market usually manages to reclaim some resistance, but that little bounce back to $74,000 after hitting $72,000 might just be a fake-out, setting us up for another drop. Honestly, I don’t see any major economic news causing this dip. It feels more like a standard pattern signaling a downward trend. I wouldn’t be shocked if we see the market drop to $69,000 by the end of this month or next. So yeah, let’s keep our expectations more on the bearish side rather than getting too optimistic.

82x.75= 61.5k would be bear and we would have had a short weak baby bull that was slaughter for veal. you are jumping the gun eager to call bear when at most you saw a bear track not a bear.

The price is still above 70k then you wouldn't have to call it bear and untill we go below 60k or even touched 50k that is when we could call it bear market, as the previous paster already said, this is a baby bear. Hence we expect a daddy Bear to come and that is when we could likely see the price going below the above mentioned price. For those who are doing DCA could actually utilize this because you wouldn't know where the price could actually land us.

If we don't call this bear run I wonder what it should be called? From where the market is now despite the fluctuations it is still a bear run whether it is baby bear or bear trap, if there is no bull to raise the bar to a convincing height then bears are still running the show. Except when price jumps above the current resistence and goes above $90k and be sustainable that is when we can start to trace bull steps whether it's coming to make the market to de bullish. I think that we shouldn't set our hopes too high in anticipation of a bull run anytime soon, the focus of investors should be on how to utilize this bear run before the season will turn around.

Im not very familiar with terms like baby bear or daddy bear. But I can confirm that we have already been in a bear market for quite a long time, specifically for around 6 or 7 months already. If Bitcoin drops from $126k to $60k, which is roughly a 50% decline, and if that still is not called a bear market, then what should it be called? We were and still are in a bear market, and what just happened is merely a temporary rebound within a downtrend.

In my opinion, we should still maintain a bearish outlook overall. When did we ever start being bullish? If we look at the bigger picture, the price has been falling for nearly a year. If we’re talking about weekly or monthly trends, I think a drop below $70,000 would signal a bear market. Right now, we’re not just seeing bear tracks, we’re also hearing bear sounds  My point of view is 126x.75 = 94.5k would be bullish.

The way the market is falling is teaching the lesson that it will fall further and this is actually a kind of trap which only shows that the market is increasing somewhat but it is just for show because more red candles in the market is also a sign of more decline but after that the market will recover its price but the current situation tells us that now the market price will fall. I have been seeing for the last 3 weeks that the market becomes still on Friday and the market price changes on Saturday and Sunday. So if we want to see a decrease in the market price then we can see it tomorrow but this is not true because this is my analysis.

If you are investing in Bitcoin then try to set your priority entry point at something below $70,000 because there is possible coming ahead anytime from now, well if you are a trader, try to make more research about the market condition and speculate well, also go for short position more often than any other, there is more likely possibility for further fall of the market, therefore considering where we are today, shows that there is more likely possibility for a sustained bearish market.

The Bitcoin market is currently in a bad state, but you should never panic about it. It is not impossible that the market may correct at the present time, so you can take the opportunity to buy without panicking. The current situation in the Bitcoin market is alarming, so in this situation, the market can rise and fall at any time, the market was bullish at the beginning of this month and the Bitcoin market was attractive. People may be a little panicked about the market situation at your time, but at the moment, the Bitcoin market is more likely to be dumped than pumped. So it is better to take the opportunity to buy Bitcoin at this time.

We were always in a bear market, only thing that prevented that was the fact that we reached 80k because of the war, so people started to assume that maybe it will not be bear month but the reality is that we are not really reaching that much of a big deal anymore, it is not happening. I think it is clear that war was the main reason why we did not crash any further, and got stuck between 75k to 80k, for a while. But now that it's ceasefire, not exactly peace, but at least people are not killing each other anymore, that resulted with price finally going down again. That is very important and will matter because that is exactly what we need at this point and that is what we are getting as well, it will continue to go down if the war does not restart.

From a technical analysis perspective, Bitcoin is currently showing a slight uptick. This is not a reversal but rather a correction before the downtrend resumes. For Bitcoin to continue rallying, the price must break out of the nearest resistance zone at $78k. If not, the price will struggle to reach the weekly resistance at $82k. This zone has been tested several times, now that level has turned into both a resistance and a reversal zone following the formation of a QM pattern which has caused the current significant price decline. On the other hand, when viewed from a higher timeframe, the overall market structure remains bearish. The next potential price target is the $70k area, and if this area is successfully broken, we could see prices drop to the $65k–$60k range. In an extreme scenario, I personally still see a chance for BTC to fall to the monthly support level around $49k if bearish pressure on the higher timeframe continues.

We can't analyze a trend by seeing few candle sticks. To understand the direction of the market we need to perform price action. This involves going back to analyze a wider range of the market movement over time preferably monthly trends. Repeated higher highs or lower lows says something on what to expect from the market on a long run. Speculation is one aspect that requires close monitoring and evaluation because shorter time frames accumulates lots of noise which could be misleading.

I believe we are in the bear season irrespective of the pump in Bitcoin price to $82k. Look at the market is gradually proving that the bear are taking over the market because we might not see a pump to $80k level again till the price hits the bottom line. I expect the bear market to dip below $60k but I can't tell the exact month it will happen.

We are really tired of seeing the market situation lately. The market does not seem to be very normal at the moment, abnormal behavior is being seen in the market. Although most people thought that the recession market may be over now and the bull market has begun, it looks completely different. We have already come to the end of May and the market situation is really tiring. The current situation in the market is likely to move deeper, the situation in the market is indicating that the market may fall further. We have seen that the market was in the $72k range, although now it looks a bit positive but it still does not seem normal, maybe the market will fall again. If the market does not change in the beginning of June, then it may fall between $68k and $65k, which is a major decline in the market. However, I have a long-term belief that since the market has already fallen from $82k to $72k, it will start to rise again.

The situation might be the same as when we became optimistic seeing Bitcoin pumps previously surpassing $80k, but in the end, we might become pessimistic again when the Bitcoin price drops below $75k.  We still cannot see that we are out of the bear market. However, perhaps the market will not head into a deeper bear market either.  From the current price, which we can consider as the month’s close, it is possible that next month we will still move between $70k-$80k.

Bitcoin price have really dropped significantly within the past few months as I can recall that just about 5 or 6 months ago we were having an all time high of about $124k and right now it’s basically revolving around the $70k price after going down to 60k few weeks ago, for me it’s a massive drop within this few months and it seems there’s a bit of a struggle to get hold of $80k currently so I wouldn’t think the bear market is over but for the case of a possible market fall more further I think there’s a potential of it but then the odd is favoring a possible market correction.

I don't think the bear market is over. Sincerely, I am expecting the price to drop further because the bear market might continue until next year or even further. I don't know why people are still expecting more from Bitcoin while it has performed exceptionally well recently. The Bitcoin circle still remains: there will always be a bull and bear market. So I expect traders to be more cautious because the market might drop further.

As I recall, during the 2022 bear market, Bitcoin fell by more than 75% from its peak, and this decline lasted for over a year before Bitcoin recovered significantly. Therefore, the current drop is nothing compared to previous bear markets I am not sure whether history is repeating itself. But based on past cycles, it may still be too early to expect the bear market has ended and a new bull market is coming. Bitcoin may not have even reached its bottom in this cycle if history repeats itself.

We are not off the beer season for now, it's me seems as if the market is trying to make it up to $74,000 and before you know it we are already on a bearish pattern by the start of a new week, this is weekend already and we can't predict the market direction until the start of a new week, sometimes when you see market behaving this manner, it's only faking out in order to deceive for a plump when the intention was to fall more.

The price is still encouraging at least, above $70. We saw it below that some months ago. We even had 62 and almost all the $60's  So, staying above $70 is still something good, at least, still above the previous low. So, it's an encouragement to keep up with consistent accumulation. Of course, Bitcoin is always like that, let's see where it heads to in the next few days