Topic: BTC price and its correction. - page 2. (Read 1983 times)

If you have strategy sell Bitcoin at highest price around $4,9xx you will receive second round for earn profit in Bitcoin or exchange to FIAT if you worry about future of it. Of course, there are not have many people understand this issue, and they always skip their opportunity for other traders

There has being 800$ correction approx going to low of 4k today and started to recover form there it seems now. Its trading at 4200$ above now so does this mean that the fall has being over and the rise of price has started. I feel that this was a temporary fall and should rise going forward and we could soon see it crossing 4500 $ mark and back to 5k in couple of weeks form now. Infact this seems to be good time to invest a lower rate before the price again mumps off to new high.

People, I am with you when you say you can HODL HODL HODL in the long term.

BUT.

If you just did some basic market analysis, you could save much money and enlarge your profit siginificantly (somewhere from 20-50 percent I'd say).

Just look at this picture:
https://i.imgur.com/yp4qeaT.png

See the two moving averages? A clear sell. The longer one nearly right after the ATH right until now and even some more time.
Then there are the GANN-levels that have been broken through several times. Not only on this long run, also in a shorter view (not in this graphic, already now way to overloaded).
Thirdly we have a clear trend heading down sharply, tested and verified three times now.


I really just can not believe how people (plenty, not you alone mrjoy) said and say, no rather SCREAM at any of the current local lows BUY, NOW THERE IS A LOW PRICE THIS IS YOUR CHANCE.

I used similar techniques for the last 2-3 days.
At day one it was just an indicator and a feeling that there HAS to be a big correction.
At day two and three it was certainty.

Sure, I can say wohooo I knew it you silly idiots but that is not my intention, I just want to give some advice to the people that aren't (maybe irrational) stoic.
I'm not saying you should sell when the price has just gone right below the MA or buy right when it breaks through the trend.
Because this method is not perfect - but it is good for figuring out what the main direction is. And for now it is down.
I can't predict how much it will go down, but I'd guess there are a several hundred dollars more to lose.

And please, do not rely on this post and do your own research. Evaluate the data you have and if you think the coins are underrated, buy 'em. Otherwise, sell 'em.
As you should, btw, always do.

there are people here who are speculating this will be a long correction. let's hope for the best; don't buy yet.

Bitcoin now in correction mood, good time to buy as much as you can- this is why I believe. Buy on dips because it's still a bullish market. You will think about these dips in future. So, Don't regret.

You have been very good at controlling your emotions not to sell when dumping, hold bitcoin now is a good pillar for me because I also do not sell it during dumped because of news about ICO from china. I'm sure the bitcoin price will recover soon.

Lesson learn for me again today. Not to sell during panic times. Although I got nervous today seeing the price going down by the hour and touch below $4200 now going to $4xxx. I guess the negative news coming from Chinese regarding banning ICO are being felt today.

Yes current blood bath in crypto market is just because of partial news of chinese authority banning ICO, but I think this shouldn't have any connection with bitcoin because they are only talking about regulating and banning bad ICOs not bitcoin or crypto trading. 

NEO and ETH price have dumped hard because of panic from this news but I think both of them including bitcoin will recover really fast in next few weeks.

Just don't sell anything you have right now.

It's not only a bitcoin price correction anymore.
All the crypto currencies have a rather bad day today.
Mainly because of the ICO ban I suppose.
In fact bitcoin is doing much better than most altcoins.
Of course when a very important method on how altcoins get their funds is removed, that has to affect the whole market.
But for the bitcoin price, maybe less altcoins will be a benefit in the end.

It seems that it wasn't the $4000 level where the much waited for correction would start to kick in, but the $5000 level. Current decrease is a very healthy market movement as the market was well overbought - nothing increases only in value. It will be interesting to see whether or not the $4000 will hold strong at USD exchanges. If it dips below $4000, which still isn't that bad considering the high level of growth that we experienced lately, we might even be up for $3500 in the coming days/weeks. People that were desperately waiting for a better moment to enter the market, here is your shot. This perfectly demonstrates that it is a wise thing to cash out profits from time to time.

Speculation about bitcoin prices in coming days should not be restricted to trading windows and days alone!  The potentiality of bitcoin must inspire the newbies and pro alike to hold and get rich

Maybe but think this month will be 5000 and above with fall to current price several times during this month. This will be first big test if the price for one bitcoin can be maintained for this 5k in price for one bitcoin. If this proves to be true then we can expect to see movement in price for bigger but if not think that in this case we could see price going down to 4500 and remaining there for end of this year.

Well we've seen two corrections in a span of 3 days, not a good sign at all for the crypto market.

In fact this could potentially be the pop of the bubble. I think we may see one or two more bull waves before this thing ends but it could well just break the floor due to people panic selling, and resulting in a long squeeze.

I generally agree with what alyssa said, short term if we could recover quick enough then we would be testing out $4500 once again. If not, then we could go down to $3500-4000 range.

Regarding bitcoin - it will test the support at around $4000. Because it's currently at $4300, it could take about two weeks to drift down to $4k. After that is anyone's guess. If the support proves robust, it will shoot up again. If it falls through the support, it will test $3800.

since we are still in rally mode and so far there is nothing to prove otherwise, I say about a week.
looking at the charts it usually takes as much too.

usually when bitcoin goes down altcoins go down with it too. if a dump happens ETH gets dumped even more.

but with the fork of ETH on the way things may be different. I don't yet speculate which way but there will be a drastic change in price it can be a big drop because they are killing mining or it can be a big pump because temporarily people think they can make more profit out of it.

in any case don't try to plan just base on how bitcoin moves.

The bitcoin correction will influence the dollar value of ethereum. I think that already run in this time, you should go to the coinmarket cap and see the price of ether gets plunged. If the metropolis will be happening and that will gives the biggest hype for the ethereum.

Yeah, I have a feeling this isn't going to be much of a correction...but I could be wrong.
I think what's happening now is just a dip, a small correction.  If it doesn't get worse than this,
that'll be something.  Sentiment is still very bullish on bitcoin, and I suspect this is just traders
taking their profits.  Normal and healthy.

OP, I think you should buy now.

It's very hard to approach this because the market is now tryin to establish an equilibrium. Once it's created, we'll see the action more easily. I think there will be another strong correction before November, probably on mid October.

Then we will see bitcoin's rise after November action.

My suggestion to you is to buy some bitcoins and only keep them in your bitcoin wallet and after 5-10 years you are millionaire but dont go all in only in bitcoin coin because it is better to trade with altcoins and also have some bitcoins because then profit is then more better what you can see from revenue which you make in short term but with btc you can only make revenue right now in long term only.

Usually yes, the bitcoin correction is going to affect the eth price, but both of the coin got a lot of users, so eventually the price will go up again, so dont be afraid to buy and store these coins and the correction usually last for 4 or 5 days