once you see everyone is looking at longer period on the chart.. you should know that you are in the long trend reversal.. did BTC bull market actually start?
snakeat3r
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@malekalmsaddi, No one can tell you for sure, but one thing that i am pretty confident about is that nobody will get the low price they wanted i.e. 5K and below. Have seen this happen a lot of times already, people keep calling -50 -70% drops at the bottom. In the end, if it wasn't for them we wouldn't even have reached 6K.
Just think about it, if everyone at 6 K expects that BTC will drop to 5K, that means that everybody has already sold and shorted. Once you short it, you become a market buyer in the future (you have to close it at some point, right?), so what happens next, when there is nobody left to short and sell? What exactly will push the price down?
MalekAlmsaddi1
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@snakeat3r, technically the actual bitcoin holders are not selling anymore unless they need to pay bills.. so if there was downtrend it's only because of short selling.. but i agree with you short selling has ended.. and very few people got the balls to short now..