But the price has recovered to $32,500 now. That's how quick the recovery is, some minor pullback but then again, institutions are quickly scooping it from those weak hands that are selling at $33k++. And it seems that every dip will be minor and very shallow and could bounce back just like that.
So let's see if the buying will continue and we are going to be back around $33k again and then hit $35k this week. Unlikely, but we don't know what the institutions are going to do and maybe push it again.
Topic: Correction has started? - page 2. (Read 513 times)
BTC and ETH are taking back off up
That is dumping fast, that's only a small correction. Every time Bitcoin experience a huge pump, it will be expected that there is a correction soon and now, that has happened that there's a correction. But yet, we are still in a healthy market, and look at the coinmarketcap, it's been resisted quickly and turn back to $31K which is very quickly.
I don't see a reason Bitcoin will dump too much and it will not fall down beyond $20k for sure. Probably one of the most reason whales now are playing on Bitcoin price but the fact, they won't survive. In fact, I can now connect the dot of whales move, yesterday a lot of post on Twitter regarding Bitcoin FUD or Bitcoin haters.
I don't see a reason Bitcoin will dump too much and it will not fall down beyond $20k for sure. Probably one of the most reason whales now are playing on Bitcoin price but the fact, they won't survive. In fact, I can now connect the dot of whales move, yesterday a lot of post on Twitter regarding Bitcoin FUD or Bitcoin haters.
The rising price of bitcoin gained traction, and briefly hit a new high of $34,799 on Sunday, after soaring over 300% in 2020. But indeed
the Seller after that lowered the price of bitcoin to $28K which pushed the trend down, but when they re-entered, bitcoin was back
under control to $31K. But we don’t know if there will be a further push to lower levels and further down, this will indeed challenge
the commitment for those predicting a sustained upward trend.
the Seller after that lowered the price of bitcoin to $28K which pushed the trend down, but when they re-entered, bitcoin was back
under control to $31K. But we don’t know if there will be a further push to lower levels and further down, this will indeed challenge
the commitment for those predicting a sustained upward trend.
Should we have to sell it now? Coz I also feel the huge correction to follow and might investors now are hyping altcoins these days making them the price hike. I saw that some of my altcoins are gaining price back slowly, this gonna be showing something altcoins season to follow next to Bitcoin strike.
I make myself to get prepare for the incoming and anticipate the possible full back of Bitcoin.
I make myself to get prepare for the incoming and anticipate the possible full back of Bitcoin.
Yeah, periods of correction, or just bear traps to slow things down, and consolidation periods will happen. It's not like Bitcoin is going straight to $100k in the next 2-3 months. Like we had a month long consolidation under $20k, we should expect periods of relief from relentless gains.
If I had to guess I'd say last night was a quick bear trap that will now lead to consolidating in the low-$30,000s range (and ~$1000 for ETH) for perhaps a couple weeks before it starts moving up again. Such a thing is very healthy for the market and provides the market with some stability and support to keep going higher.
If I had to guess I'd say last night was a quick bear trap that will now lead to consolidating in the low-$30,000s range (and ~$1000 for ETH) for perhaps a couple weeks before it starts moving up again. Such a thing is very healthy for the market and provides the market with some stability and support to keep going higher.
Nothing out of the ordinary.
You're going to see a few waves of corrections occurring, there is no doubt about that. There was no way that this sort of price action where you see gains in the high 'teens every single day was going to sustain for more than a couple of weeks.
As I've mentioned before, with the current FOMO people are levered all the way up which means that if there were any market corrections it would occur in dramatic fashion as we see right now. Overall though, the trend is still bullish. And given the once per 4-year cycle, I'm very confident that the rallies will continue after the market takes a breather - whether that's rational or not.
You're going to see a few waves of corrections occurring, there is no doubt about that. There was no way that this sort of price action where you see gains in the high 'teens every single day was going to sustain for more than a couple of weeks.
As I've mentioned before, with the current FOMO people are levered all the way up which means that if there were any market corrections it would occur in dramatic fashion as we see right now. Overall though, the trend is still bullish. And given the once per 4-year cycle, I'm very confident that the rallies will continue after the market takes a breather - whether that's rational or not.
Bitcoin dumping so fast, it's very red now.
From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
Just a typical pullback scenario where bitcoin can really give off those kind of corrections on certain percentages on a short span of time.For sure lots had already anticipated
that it is going to crash once again just like on what happened in year 2018 where everything goes red.To look at on the current price and basing off with technicals
it did really have some strong support in 29k which it did really happen and lucky for those who had buyback into that level since the price is already recovering now.
It is an easy profit btw for 24 hours time frame. For those who had entered on 33-34k and suddenly the price did fell off then i believe that someone did
really panic sell.
We are not to get surprised about the drop. The bear has been waiting to come before price hit to 30k but instead of the bear at 26k, the price jumped and kept jumping to 34,000. The price jump deceived many traders to hodl longer but now we don't need to shout as the expected has happened. At every bull, we need to expect some correction.
It's hard to know until hindsight. I'll be very interested to see how this daily candle closes.
When you see instant retraces back to the top, it's usually just a fast shakeout followed by upside continuation. Springing back above that $33.5K consolidation area would look that way.
Tagging the 0.618 and consolidating on the other hand.....the jury is out. 30-42% total decline still technically on the table.
20% in 24 hours is pretty damn fast. I can understand why people get emotional.
Stairs up, elevator down.
When you see instant retraces back to the top, it's usually just a fast shakeout followed by upside continuation. Springing back above that $33.5K consolidation area would look that way.
Tagging the 0.618 and consolidating on the other hand.....the jury is out. 30-42% total decline still technically on the table.
10% to 15% drops are corrections not "dumping fast".
20% in 24 hours is pretty damn fast. I can understand why people get emotional.
Stairs up, elevator down.
Recovery of $2,000 per coin in less than two hours. Do you guys call this as correction? 
The verdict is loud and clear. There is too much demand out there, and any extra supply is being mopped up by the bulls. Obviously one of the whales dumped a huge amount of coins, and this resulted in the prices crashing from $34,000 to $29,000. Let's not forget the fact that Bitcoin has gone up by 200% plus during the last few months. A lot of the investors may go for profit booking, and in the coming days we may witness more of these sort of wild swings in the exchange rate.
The verdict is loud and clear. There is too much demand out there, and any extra supply is being mopped up by the bulls. Obviously one of the whales dumped a huge amount of coins, and this resulted in the prices crashing from $34,000 to $29,000. Let's not forget the fact that Bitcoin has gone up by 200% plus during the last few months. A lot of the investors may go for profit booking, and in the coming days we may witness more of these sort of wild swings in the exchange rate.
Nice healthy correction, or should I say bear trap?? So far all the dips since the price blasted off of $10k like three months ago have been bear traps. Great if you used them to get back in on a dip, terrible if you sold low because you thought it was the start of a solid correction.
What do you think, was last night a bear trap from $34k-high down to under $27k-high ($7000 / 20% drop from earlier highs) or the start of a more substantial correction? It rallied all the way back to over $32k immediately after the drop and is currently at $31k.
We might see some consolidation at current levels while the market decides which way to go. But what do you think the next move is? Up back to pushing new all time highs this month, or more substantial correction back to $20,000s this month? So far it just looks like a bear trap like we had several times during the past 3 months.
I got all the way in on the dip and don't plan on selling for profit at current levels, so I expect it to keep moving up from here this month, but wouldn't be surprised to see it range in the low $30,000s for a bit as some people take profits on fear of further drop before they are exhausted and the big institutional buys take over again.
What do you think, was last night a bear trap from $34k-high down to under $27k-high ($7000 / 20% drop from earlier highs) or the start of a more substantial correction? It rallied all the way back to over $32k immediately after the drop and is currently at $31k.
We might see some consolidation at current levels while the market decides which way to go. But what do you think the next move is? Up back to pushing new all time highs this month, or more substantial correction back to $20,000s this month? So far it just looks like a bear trap like we had several times during the past 3 months.
I got all the way in on the dip and don't plan on selling for profit at current levels, so I expect it to keep moving up from here this month, but wouldn't be surprised to see it range in the low $30,000s for a bit as some people take profits on fear of further drop before they are exhausted and the big institutional buys take over again.
Bitcoin dumping so fast, it's very red now.
From $33k today, bitcoin has dump to $28k..
From $33k today, bitcoin has dump to $28k..
In the meantime, based on my thinking, (NOT MUST TRUST) bitcoin will be quite stable at $ 26,500 - $ 28,500, of course bitcoin gives other altcoin the opportunity to experience significant increases. plus once Ethereum touched $ 1000, the potential for bitcoin decreased dramatically. It is now evident that the price has fallen to $ 28,000. This is what bitcoin does, the pattern is still the same as in 2017, the only difference is the price, but the bitcoin pattern will drop dramatically when Eth has touched $ 1000 more
Yes everyone observed the huge drop and I think is might be a temporary correction phase which will act as a slingshot for new investors because they can utilise this moment to buy Bitcoin because Bitcoin has pooled in lot of institutional investment from different sectors and I don't think any bear run is in the pipeline as of now, this looks like a similar correct phase which we witnessed before Bitcoin hit $20k.
Just because bitcoin drops a bit, do not be worried that it is going to crash to unstoppable levels. Just like how we moved from 29k levels to 34k levels without a stop, we could very well drop there as well, because there isn't much strong resistance or support levels there, which allows us to move a lot higher and quicker and same with lower levels as well.
I believe that we are going to be fine, we are still not dropping, and we recovered to 30k levels right after we went low, so it means that we are not doing that bad at all. At the end of the day bitcoin is a volatile market and it could be up and down a lot very quickly, if you act too quickly you are going to miss out on opportunity to make more money, or even worse you could end up losing money as well. There is no bear call right now, so I believe we are not going to be crashing to 25k or under levels any time soon.
I believe that we are going to be fine, we are still not dropping, and we recovered to 30k levels right after we went low, so it means that we are not doing that bad at all. At the end of the day bitcoin is a volatile market and it could be up and down a lot very quickly, if you act too quickly you are going to miss out on opportunity to make more money, or even worse you could end up losing money as well. There is no bear call right now, so I believe we are not going to be crashing to 25k or under levels any time soon.
10% to 15% drops are corrections not "dumping fast". you are making a common mistake of looking at the big numbers and feeling panicky which is probably why there was a panic sell today.
otherwise $4000 looks big but it really is 11% not to mention that price is already back up again due to sheer amount of panic sell and panic buy that are fighting against each other these days.
another example of big numbers but small percentages is Berkshire Hathaway (the Buffet stock since these days it is being talked about a lot) it dropped $5275 today but that was only 1%
otherwise $4000 looks big but it really is 11% not to mention that price is already back up again due to sheer amount of panic sell and panic buy that are fighting against each other these days.
another example of big numbers but small percentages is Berkshire Hathaway (the Buffet stock since these days it is being talked about a lot) it dropped $5275 today but that was only 1%
Bitcoin dumping so fast, it's very red now.
From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
Everyone who missed out investing in the rally will be happy to see that the market is going down as they were deppressed to the core that they were not able to invest to ride the rally From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
. The price is around $31k and i am not sure in which exchange it went down to $28k. When the price was rallying you need to expect there will be a correction and hopefully it will not be a big one. legendary
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Bitcoin dumping so fast, it's very red now.
From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
From $33k today, bitcoin has dump to $28k..
What's next for this, and what's the dip? Love to hear your thoughts on what is happening now.
The dip is just a healthy corrections and I believe that's something we all can agree on. For weeks now the trends has just been upward and it was due for something like this to occur. Personally I thought it would had happened earlier but it didn't. The corrections gave opportunity to some altcoins to record some profit and ethereum been one of the notable beneficiary. Guess that's another positive outcome we can take from the corrections.
The altcoins mooning means the market is still bullish but just may be the energy is shifting to altcoins now. How bitcoin reacted showed some strong support for the bull. Meaning there's no cost for alarm at the moment. Short term I'm bearish on bitcoin, it needs a re-trace and this will begin from this correction that just happened. Probably we won't be seeing another new all time high until early February.
Comes back up again quickly too. If this is over, the altcoins could have been the first to plunged down close to zero but they weren't. I guess the bulls are still up to break resistance in a week. Listening to some speculators, they were saying that because of BTC domination being so high that the holders are shifting to altcoins. This is why ETH is also more than $1000.
Corrections are very healthy as it just builds new bases to work up from. We are better to have smaller and more often correction that less often and big ones. Holding my coins steady here.
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