$1200 is not a correction. that is only few % fall.
Correction will happen on 13th March. and it will be like 20-30%. so price will go to about $1000.
Topic: expecting correction? (Read 1541 times)
i agree with you. We will be the laughing ones after this week. The time to strike is now! They are all laughing at short term traders. But i have increased my coins with almost 40% because of efective trading.
I have voted for $1200 and i think it is quite possible, price is getting some correction right now and i don't think this correction can brought price below $1200 level.
The rally is just because of the speculation that ETF will be approved and the chances of approval is just below forty percent and i think the price could fall back below the thousand dollar mark as there will be a major sell off when there is a panic involved with the rejection. 
zoom out more, like to the 1day candle chart on bitcoinwisdom. Then it looks more like somewhere between 920 and 960
Thanks for sharing. So this week the chinese will be back in action. ETF and US dollar news. Or a big pump or a big dump. We will see. I hope that i am standing at the good side of the line. This week is esensial for the year price of bitcoin.
The real correction is on 11 march
It will happen before that date - nobody waits till the last minute to take profits.
Here are some events coming up:
On 9th March it will be one month since OKCoin and Huobi suspended bitcoin withdrawals for Chinese members, pending AML checks. Here is the latest info on this:
https://cointelegraph.com/news/bitcoin-price-pushed-by-okcoin-getting-ready-for-relaunch-china-money-supply-increase
Quote
On March 1, OKCoin told their users that the exchange is approving the transfer of user funds stored on the global OKCoin trading platform to their Chinese site because the company’s .CN platform is nearly ready for approval by the PBoC and relaunch.
Earlier in January, the PBoC asked OKCoin and Huobi, two of the largest Bitcoin exchanges in China, to suspend trading until their Know Your Customer (KYC) and Anti-Money Laundering (AML) systems are overhauled. The abrupt termination of OKCoin Bitcoin withdrawals stemmed from the PBoC’s initial warning sent out to Huobi and OKCoin on Jan. 18.
At the time, OKCoin operators announced a time frame of one month for the completion of their KYC and AML system update, which meant that users would not be able to withdraw their funds in Bitcoin or Litecoin for 31 days.
However, OKCoin emphasized that the one month period could be either shortened or delayed depending on the development of their new industry-compliant AML and KYC systems. Since an AML and KYC update essentially led to the renovation of the entire platform, OKCoin and Huobi weren’t capable of providing a fixed date of withdrawal approval.
Earlier in January, the PBoC asked OKCoin and Huobi, two of the largest Bitcoin exchanges in China, to suspend trading until their Know Your Customer (KYC) and Anti-Money Laundering (AML) systems are overhauled. The abrupt termination of OKCoin Bitcoin withdrawals stemmed from the PBoC’s initial warning sent out to Huobi and OKCoin on Jan. 18.
At the time, OKCoin operators announced a time frame of one month for the completion of their KYC and AML system update, which meant that users would not be able to withdraw their funds in Bitcoin or Litecoin for 31 days.
However, OKCoin emphasized that the one month period could be either shortened or delayed depending on the development of their new industry-compliant AML and KYC systems. Since an AML and KYC update essentially led to the renovation of the entire platform, OKCoin and Huobi weren’t capable of providing a fixed date of withdrawal approval.
The ETF decision is going to be on March 11th
The Federal Reserve will meet on March 14th-15th and is likely to raise US interest rates. the dollar usually strengthens when they do this.
So a lot happening in the next week or so.
I have voted for $1200 and i think it is quite possible, price is getting some correction right now and i don't think this correction can brought price below $1200 level.
bottom price or support bitcoin price still wait about announcement ETF from usa and PBOC from china
if result not aprove bitcoin price can crash and bottom price can under 700 dollar/bitcoin
if result not aprove bitcoin price can crash and bottom price can under 700 dollar/bitcoin
If ETF gets disapproved price will not fall back below $1000 as many people think, it will be something between $1050-$1100.
As we can see past 2 months graph BTC getting resistance and setting new floor above $1000 so going down below $900 or $850 is not expected.
On the other hand , if ETF gets approved then BTC will not reach to moon immediately because investors will take some time to research before putting huge money in new resource and technology, so it will take around 3-4 weeks before any huge spike in price.
As we can see past 2 months graph BTC getting resistance and setting new floor above $1000 so going down below $900 or $850 is not expected.
On the other hand , if ETF gets approved then BTC will not reach to moon immediately because investors will take some time to research before putting huge money in new resource and technology, so it will take around 3-4 weeks before any huge spike in price.
i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
I'm with you. Maybe I'm naive, but I honestly don't anticipate more than a 20% drop AT MOST if and when the ETF is rejected.
most people are just spamming in this board, they read something above or in other topics and just repeat it, it is the same as copy pasting but with your own words. and some others are just saying their wishes since they missed the opportunity to buy and now want a dip to buy back.
but it is not all, you can see some rare comments like d5000 above that have some good points. although i disagree with it but at least there is some value to his comment.
i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
I'm with you. Maybe I'm naive, but I honestly don't anticipate more than a 20% drop AT MOST if and when the ETF is rejected.
i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.
we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it
$1000 is the lowest option? If the ETF doesn't go through I'm thinking $900s, if it goes through we'll see steadier prices, maybe even a rise.
Correction would be on $1000 or less maybe on 900 and wont come down even more. If the news on this upcoming march 9-11 would affect theres only two possible results its either would drop or rise. Im waiting for that event to happen and lets see how the price reacts.
I am really expecting some correction before pumps occur again. I guess the correction will be between 1000$-1100$ but it will not be lesser than that until ETF has been decided. If it is rejected we might go under sub 1000$ but if it is approved, I guess we will see another one crazy pump that will happen for hours or so on maybe a day. Let's just hold for now and be wary for bitcoin's price movements so that we can dump at the right time.
I don't expect a trading pullback below $1100. However, if the ETF gets rejected, I expect the price to drop to $900.
This entire rally has been built on speculation about the ETF.
This entire rally has been built on speculation about the ETF.
Correction just happened.
Correction still happening imo!
What correction? A tiny 1,7% drop in such a steady bull market is not a correction
We're not even close to fall out of the "third gear" trend channel - that wave that goes from ~915 to the actual level. The price tried to break out to the upside and cross $1300 but failed.
A real TA-based small correction would bring us back to the "second gear" - that's the price channel that begun at ~735 USD. That would mean a bottom of $1100. But at the moment I think the price is fundamentally driven by the ETF speculation - so on March 11 or 13 there may be a even harder correction. In the worst case, back to 735 or 780 - but I would expect more something about $850-900 - back to the "first gear" of the actual bull market.
The fact there is no who can tell the exact days and the price of bitcoin.
better to use this tools for monitor and use their tools for analyzing https://bitcoinwisdom.com/markets/bitstamp/btcusd
And make your own margin just set a margin everytime the price is increase you sell 25% if the price will increase again more.. sell the 25% again just repeat if the price will continue.. if not and the price is going to down so the exchanged you can buy bitcoin again and sell to the new margin..
Not yet. That however, doesn't mean we can't dip slighly below $1200 for a short time. I expect the price to remain its position between $1180-$1280 until we know what the result of the ETF is next Saturday. From that point there are two scenarios possible;
# ETF gets approved; Short term peak to possibly $1400, where after that the price will likely settle somewhere between $1100-$1200 for a while.
# ETF won't get approved; Short term sell-off to $1000 as ultimate bottom.
Whatever happens, just ride the market and benefit from the given opportunities.
# ETF gets approved; Short term peak to possibly $1400, where after that the price will likely settle somewhere between $1100-$1200 for a while.
# ETF won't get approved; Short term sell-off to $1000 as ultimate bottom.
Whatever happens, just ride the market and benefit from the given opportunities.
Support level is on previous high 1136$ ,can be speculative dump or exit pump before 11 march,there are people who know SEC decision already,now network has problems,waiting waiting for confirmation
But 11 march will pass and will be new fun election in France.JM Le Pen may win
But 11 march will pass and will be new fun election in France.JM Le Pen may win
The fact that everybody is sitting around waiting for a dip to 1000 or less but the price keeps rising may be an indicator that this little dip may be the lowest we will see at least until ETF decision.
People have been waiting for a big dip or correction to 600 and even less since the blow off of this year's all time high in the beginning of January. Just think, it "everybody" is hold fiat waiting buy coins, and the price is doing this, what's going to happen when they realize they just missed the dip and we are heading to 1800?
If the ETF passes, I think the rise I price is underestimated by most people. Many people are waiting for the dip after rejection, but what are they going to do with all that money ready to go if it's approved?
People have been waiting for a big dip or correction to 600 and even less since the blow off of this year's all time high in the beginning of January. Just think, it "everybody" is hold fiat waiting buy coins, and the price is doing this, what's going to happen when they realize they just missed the dip and we are heading to 1800?
If the ETF passes, I think the rise I price is underestimated by most people. Many people are waiting for the dip after rejection, but what are they going to do with all that money ready to go if it's approved?
They'll purchase BTC as soon as the news is out about the ETF getting approved, missing out on a big part of the launch to the moon
Anyway, im not gonna be that guy who's gonna miss out on it IF it happens. And if it does get declined and the price drops, we'll be back at $1200,- within 2 months anyway.
To the moon and beyond!
HOLD = WIN
The fact that everybody is sitting around waiting for a dip to 1000 or less but the price keeps rising may be an indicator that this little dip may be the lowest we will see at least until ETF decision.
People have been waiting for a big dip or correction to 600 and even less since the blow off of this year's all time high in the beginning of January. Just think, it "everybody" is hold fiat waiting buy coins, and the price is doing this, what's going to happen when they realize they just missed the dip and we are heading to 1800?
If the ETF passes, I think the rise I price is underestimated by most people. Many people are waiting for the dip after rejection, but what are they going to do with all that money ready to go if it's approved?
People have been waiting for a big dip or correction to 600 and even less since the blow off of this year's all time high in the beginning of January. Just think, it "everybody" is hold fiat waiting buy coins, and the price is doing this, what's going to happen when they realize they just missed the dip and we are heading to 1800?
If the ETF passes, I think the rise I price is underestimated by most people. Many people are waiting for the dip after rejection, but what are they going to do with all that money ready to go if it's approved?
does this theoretical correction include an etf rejection?
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
no because things like Winklevos ETF are nothing more than a distraction to push the price higher than it normally goes and make more profit. bitcoin never needed them and it never will need it in the future which means its approval or rejection don't play any role in the future of bitcoin.
and i would be really surprised if we can ever see prices lower than $1100 or $1000 because of this (possible) rejection!
If, ETF will be rejected, another crash will be happen and it may fall back to $800, well I hope never below $800 as the bottom line.
However, nothing for sure and let's see what will happen in the next week.
Right now I don't see any signs of an upcoming correction as we still have the day of the ETF approval in front of us. The current slight form of selling pressure is completely normal. Current situation is unknown to people as the stakes are higher than ever. Especially for people that bought themselves into Bitcoin above $1200.
OP, I like your optimism reflected in the fact that you offer no poll option that is below $1000.
Or how about an upwards correction.
Or how about an upwards correction.
no because things like Winklevos ETF are nothing more than a distraction to push the price higher than it normally goes and make more profit. bitcoin never needed them and it never will need it in the future which means its approval or rejection don't play any role in the future of bitcoin.
and i would be really surprised if we can ever see prices lower than $1100 or $1000 because of this (possible) rejection!
and i would be really surprised if we can ever see prices lower than $1100 or $1000 because of this (possible) rejection!
that may be how you feel, and you'd be right, but that's probably not how a bunch of other traders feel. if enough bets have been made on a yes expect a run for the door if there's a no.
does this theoretical correction include an etf rejection?
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
no because things like Winklevos ETF are nothing more than a distraction to push the price higher than it normally goes and make more profit. bitcoin never needed them and it never will need it in the future which means its approval or rejection don't play any role in the future of bitcoin.
and i would be really surprised if we can ever see prices lower than $1100 or $1000 because of this (possible) rejection!
Correction just happened. Now back up to $1350-$1400 before the ETF decission.
Correction still happening imo!
But I agree that we may see further pushing of the price until the announcement of SEC is made regarding COIN ETF.
If a decline should be announced we may drop down to 800-900 in worst case. But 1000 could be a solid bottom after a bounce.
does this theoretical correction include an etf rejection?
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
i'd vote for 850-900 ish in that case but there are a couple of other applications coming a short time after. i'd guess that if the winklevoss one don't pass nothing else will either.
There is still some time remaining for the final result but I think it's gonna be between 1000 and 1100.
The real correction is on 11 march
The correction already happened,
Correction just happened. Now back up to $1350-$1400 before the ETF decission.
well i had it in my opening post but i removed it because to be honest this looks more like a short dump to me rather than a correction. although it was a good test of the buy resistance.
Correction just happened. Now back up to $1350-$1400 before the ETF decission.
And then drop to $800 or less as a result of ETF disapproval.I think price correction is starting right now, we can observe small downward trend beginning to form.
Yesterday market was testing $1300 resistance but failed and this is the effect of that failed race.
AFAIK there wasn't any market event to blame for this minimal decline, so we might see upward trend resuming soon.
I think price will go back to 1000 once again before we go to new records. We are at 1255 at the moment and for me its strange that we survived so high for so long, but once again my bitcoin price prediction wasn`t right. I`m changing my mind about it, I expected price to go to 3 digits cause I wasn`t sure that bitcoin can hold this high price, but after few weeks of that I started to change my mind and now I`m not sure that price will go back to 3 digits.
I voted for that, looks like 1000 $ is the new bottom for bitcoin price, what more maybe 1100 $.
1000$ will be the bottom.
I voted for that, looks like 1000 $ is the new bottom for bitcoin price, what more maybe 1100 $.
Correction just happened. Now back up to $1350-$1400 before the ETF decission.
i think it will rise again, this is people that trade taking a little stop, the price cannot always increase without a stop, and in the festivity or weekend, there are some correction yes, EFT is still far away they can't tank now, the hype just started
we have been seeing somewhat consistent rise for the past few days without much slowing down or stopping to accumulate.
i am expecting some correction before more rise.
but what do you guys think?
what will be the bottom?
i am expecting some correction before more rise.
but what do you guys think?
what will be the bottom?
The correction already happened, doubters are literally dreaming with bitcoin dip to finally get in, so we are going to see a $1200 dip at the lowest, but the price overall continue wrong.
The price growth has been lateral, nothing too out of the ordinary for an undervalued asset like bitcoin.
Price is expected to keep growing until a resolution of the ETF happens, if it fails, buy the dip, if it passes, you are rich.
1000$ will be the bottom.
we have been seeing somewhat consistent rise for the past few days without much slowing down or stopping to accumulate.
i am expecting some correction before more rise.
but what do you guys think?
what will be the bottom?
i am expecting some correction before more rise.
but what do you guys think?
what will be the bottom?
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