New ATH is just around the corner

[jeraldskie11]

Bitcoin is struggling to reach $90k as we can see in the current price action of Bitcoin. I don't think that it's the time for the continuation of bull run because what I am expecting and seeing now it will seek for a liquidity below. My bias is bearish this time since the weekly retracement is not finished, maybe the price will go deeper before the price create a new high.

You have a rather solid reasoning especially given the current state of Bitcoin price which is still more in a precarious pattern which does not indicate it will rise to a higher level. The failure for the price to hit a new high could be traced to an incomplete weekly correction which would imply that the price is yet to be fully ready to touch new heights. The market is never stagnant, and at the moment the selling pressure is clearly more obvious which signifies more bear trend at the short-term period. In the case it drops further then one only gets a feeling that the market structure is trying to ascertain the right level to be in before moving again.

Maybe it's because of my long experience in analyzing the market that I can say it's easier to tell who is in control of the market, whether it's sellers or buyers. There are many things to consider, but in my long experience in trading, I only use tools that are really effective in reading the price movement in the market. It's not 100% accurate, but most of the time I'm good in forecasting but not in execution.

[Rubel007]

Bitcoin price has fallen by about 2% in the last 24 hours and there is no way to be sure about the current situation. Moreover, when there is high selling pressure in the market, it is naturally unusual to expect high prices. Although Bitcoin has the ability to quickly become bullish at any time, according to the normal trend, Bitcoin price does not have the opportunity to go higher at this time. Of course, we have to wait for some time. If it were the case that Bitcoin price would indicate a big decline in a short period of time, we would still think that it might be time before it becomes bullish. But that is not happening either. Bitcoin is gradually losing its price, which is why it will definitely take time to become bullish again.

[jeraldskie11]

Bitcoin price has fallen by about 2% in the last 24 hours and there is no way to be sure about the current situation. Moreover, when there is high selling pressure in the market, it is naturally unusual to expect high prices. Although Bitcoin has the ability to quickly become bullish at any time, according to the normal trend, Bitcoin price does not have the opportunity to go higher at this time. Of course, we have to wait for some time. If it were the case that Bitcoin price would indicate a big decline in a short period of time, we would still think that it might be time before it becomes bullish. But that is not happening either. Bitcoin is gradually losing its price, which is why it will definitely take time to become bullish again.

We can say that what is happening now with the Bitcoin price is a key to make a new ATH. It is normal for a market to have a retracement because there is a seller even if it is still in an uptrend. As long as the price does not go down below to the previous low, we are still positive that it will continue with its order flow. Because when there is not enough liquidity or let's say demand, it will not be able to make a new ATH because the selling pressure in that area is very strong. To get enough liquidity, sometimes it drops until there is very strong buying pressure and triggers the price to make a new ATH.

[NotATether]

Guys, we are NOT reaching a new ATH any time soon. It seems that the euphoria surrounding Trump's presidency went down a couple of months ago which is contributing to the slump.

Everyone seems to have forgotten about crypto in the news now. (Except for stablecoins but we don't care about them now do we?)

[armanda90]

Guys, we are NOT reaching a new ATH any time soon. It seems that the euphoria surrounding Trump's presidency went down a couple of months ago which is contributing to the slump.

Everyone seems to have forgotten about crypto in the news now. (Except for stablecoins but we don't care about them now do we?)

Donald Trump euphoria seems have been over after bitcoin returning down back under $82k and difficult at short term with new ATH raise, market recently keep stable at lower price and have been several months how difficulty for bitcoin break out above $100k after last ATH price hit to $108k.
Maybe we need new euphoria can make bitcoin hit back to higher price after stuck longer time for bitcoin in lower price, maybe we need until at the middle of this year will bitcoin hit back to higher price to creat new ATH or waiting last year with possibility market recovery.

[enwi]

Guys, we are NOT reaching a new ATH any time soon. It seems that the euphoria surrounding Trump's presidency went down a couple of months ago which is contributing to the slump.

Everyone seems to have forgotten about crypto in the news now. (Except for stablecoins but we don't care about them now do we?)

You are quite right here to presuppose that the current conditions do not point higher anywhere near the direction. The funds that was originally fixed on the asset seem to be directed elsewhere and it affects the market responses. Whenever there is a lack of a forceful sentiment that can force an increase in the process, it is normal that it slows down or decreases. Sel markets respond to changing activity and such periods have been observed before in several other occasions.

[UNIVERSE]

Guys, we are NOT reaching a new ATH any time soon. It seems that the euphoria surrounding Trump's presidency went down a couple of months ago which is contributing to the slump.

I agree with you. It is unlikely that we may reach a new ATH in the near future. Instead of keep raising, the price of Bitcoin is getting lower. It is not a sign that we probably hits a new ATH. We may have few months of sideways or corrections. Sure, this can be the impact of the end of the euphoria of Trump's win. And this is also probably the impact of some bad news in crypto recently.

Everyone seems to have forgotten about crypto in the news now. (Except for stablecoins but we don't care about them now do we?)

I'm not really sure that people forget the news about crypto. But people may feel doubtful now because there is no altcoins season yet. This also influences their view about the possible new ATH in Bitcoin as well.

[Dr.Bitcoin_Strange]

Guys, we are NOT reaching a new ATH any time soon. It seems that the euphoria surrounding Trump's presidency went down a couple of months ago which is contributing to the slump.

I agree with you. It is unlikely that we may reach a new ATH in the near future. Instead of keep raising, the price of Bitcoin is getting lower. It is not a sign that we probably hits a new ATH. We may have few months of sideways or corrections. Sure, this can be the impact of the end of the euphoria of Trump's win. And this is also probably the impact of some bad news in crypto recently.

The price of Bitcoin is still afloat, it's just swinging around $80k to below $80k and back around that same price, at this point, nothing is still certain. Some people have already concluded that the bear market has kicked in but I am optimistic that price could still get to $120k or more before we finally enter the real bearish cycle when price will drop down to even $50k base on my prediction. We might not see price pumping this month or next but probably towards the end of this year, price could start to surge again.