Community post
Bitcoin becomes exiting again?
As Bitcoin rallies from yet another dip more people begin to call bottom as they have done all year. The technicals do seem to support the idea but it is important to remain unbiased in order to avoid disappointment.
The long term view of Bitcoin is still bullish and the long term trend remains intact. The question is have we seen the end of the bear cycle?
We need to find a strong support zone above 9000 in the coming weeks to ensure short term gains. even a rally to 12000 could be short lived as the rocket ship nature of Bitcoins price may have finally ended once and for all. 9000 is the key level as we have converging moving averages and support from the cloud.
Replies (6)
I'm no technical analyst, however I feel that the market has definitely seen a turn, even just in sentiment. People are definitely more positive about what is ahead, and that is usually a good sign as to what the price may do in the near future.
Also, there's a few cryptos that have been having price spikes in the last couple of weeks. There hasn't been much of that all in since January
I agree sentiment has changed and we have seen some price gains but people need to remain calm. Everyone gets real emotional in this market. remain unbiased and maybe reddit will be free of suicide posts if we take a dive again.
Well what you say is true all of the time. People should always remain calm. Trading is always dictated by two emotions, fear and greed.
Easy to get scared and sell all when the market has crashed, or to go soon in when the market had hit the all time high. Both actions are wrong.
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