Quote from: lauder_larger on September 18, 2018, 12:02:24 PM

Quote from: Bardman on September 17, 2018, 12:01:03 AM

Quote from: magneto on September 16, 2018, 10:56:03 PM

Quote from: Bardman on September 10, 2018, 10:12:11 AM

I know people have been saying that since forever. This whole year people have been yelling ''bullish'' every day however, memes aside I truly think bitcoin is bullish. Obviously we are in a downtrend but I just find it funny when people lose their minds because bitcoin went from 7400 to 6700 in a day when in december we had $3000+ moves to the upside. No one was complaining back then huh? Technically speaking when you look at the weekly/daily chart you can see we are basically in a descending wedge which is, technically speaking, a bullish indicator. We have been forming weekly lower highs all year, however if the support area around 6000$ holds again this time, we will be in a really good position to actually break the lower highs, we would only need a 1000$~ move to break it for the first time in basically a year.

Not to mention the clear interest, governments/entities/businesses are taking in bitcoin. ETF's, Nasdq, etc etc, even if they aren't approved.

I still think that we've got some more space to go potentially before we finally hit rock bottom in this bear market.

And even if we already have established the bottom at $6k, it's very likely that we're going to see further consolidation at this level for at least several more months until the end of the year, before a recovery actually starts happening.

For one, market sentiment is bearish still, and even though institutional investment is coming in, people generally do not react that positively to bullish news in a bear market as they would in a bull market. For two, previous bear markets have lasted around 1-2 years before recovery, which is a figure we have not come close yet, so I doubt that we could consider BTC bullish atm. But a bull market will come eventually, and accumulation will prove to be extremely profitable in the long run if you do so at this price level.

''previous bear markets'' there was really only 1 previous bear market, bitcoin is too new to look at the past. The space is way too different now than it was back then, more coins, more volume, more exchanges, better exchanges, potential good news, etc etc. There is no reason to think this bear trend will continue for 2 years.

Technically speaking there is no bump in the price for several months and the price is stuck between $6000 and $7000. What does it means? I wonder where bitcoin is going. Most people are thinking positively that the coming days will be better for bitcoin but the current situation tells that bullish trend holds the market for long time and no signs of improvement.

This whole year is the worst year in the history of bitcoin. Such huge dip in the price has never seen by any one. Those who bought bitcoin for $19343 have lost almost $13000 in each bitcoin. The rest of the year is also not giving any good signs for improvement. How can I say that the market is bullish? If there is any bullishness the price would be more than $20k till date.

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