Get ready for the inevitable, huge correction coming.

2double0

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Quote from: Hippocrypto on May 20, 2021, 06:44:48 PM

We'd already touched $36k and now it's going back to $40k then tried to recover at this range. What I am looking forward to see right now is the fast rising value, that's going to exist in the next further months. Reaching towards $100k has the biggest potential, but let's expect huge drops before it happens. Our patients will be tested here, so keep a strong faith so you'll able to handle pressures on trading.

We didn't just go to $36k but below $29k and $27k was my target to accumulate some btc and had put a limit buy there, but my bad it did not touch that area. Btc looks in range of $35k and $40k where after breaking $40k, btc got a new resistance at $42k while a support near $34k. Tomorrow will be a decisive day for btc as the move will show if btc remains bullish or turns bearish AF. If it goes below $34k, there will be 1000 reasons to short it as $20k will be eyed through by the bears.

Hippocrypto

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

We'd already touched $36k and now it's going back to $40k then tried to recover at this range. What I am looking forward to see right now is the fast rising value, that's going to exist in the next further months. Reaching towards $100k has the biggest potential, but let's expect huge drops before it happens. Our patients will be tested here, so keep a strong faith so you'll able to handle pressures on trading.

Mahanton

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Quote from: electronicash on May 19, 2021, 09:42:49 PM

no one can stop them from accumulation in any manner, its what rich boys do even when BTC was still low in price. now that it's more valuable and institution replaced those big boys already with the richer than them. bigger dumps mean bigger pumps and this could swing real high like they could play one dump and one could turn his funds worthless. a huge correction means also sharp spikes.

Not that a solid indication because every movement could really be always in random because not all deep dumps or crashes does eventually talk about having sharp spikes ahead.
One sure thing here is that corrections and pumps are always been part of this market and we shouldnt really get surprised by that.Only noobs or who had just recently jumped into
this market are the ones who do eventually get shocked when things like this do happen where they do thought that it is already the end of the market on the time they
do saw their portfolio is falling down. We should prepare ourselves about correction because we cant call it a market if it wasnt dipping or going low.

electronicash

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no one can stop them from accumulation in any manner, its what rich boys do even when BTC was still low in price. now that it's more valuable and institution replaced those big boys already with the richer than them. bigger dumps mean bigger pumps and this could swing real high like they could play one dump and one could turn his funds worthless. a huge correction means also sharp spikes.

Kittygalore

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Quote from: jrrsparkles on May 18, 2021, 12:11:29 AM

Another interesting tweet from Elon Musk to end all the speculations regarding dumping the bitcoin, I didn't see it personally on twitter but saw it on crypto news sites that Elon Musk was against bitcoin energy consumption but his company is still holding all those bitcoin which they bough for $1.5 billion earlier this year. Means now the investors will be back to the bitcoins right?

Hopefully the sheep will follow what this dude has to say again and I think that if people have read the full Tweet completely instead of just the part where he says they will suspend bitcoin payment for Tesla then the panic selling and the big dumps could have been alleviated.

justdimin

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k.

I don't know where it would stop but it seems like the pumping of price was done just to sell them later at a better price. I was skeptical when I was watching the price go from 10k to 50k and beyond but I satisfied myself by telling that bitcoin is expanding and growth is natural since more investors and companies are coming in now. With PayPal also allowing bitcoins sale, I was under the wrong impression that the growth was natural.

This is the reason why I have always been in favor of having a large number of small traders rather than having large traders in small numbers because it only brings manipulation into the market. Similar to what is happening with the dogecoin market, I think we are experiencing it now within the bitcoin market. Unfortunate but I am happy overall because I think we are still heads above the price I ever imagined.

Webetcoins

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Quote from: Vaculin on May 18, 2021, 06:32:45 PM

I think that most of us are now ready to fill our bag back again. And I hope everyone will move on and accept that we are leaving the bullish season and face the crisis back again.

The problem with this kind of bearish market is that you don't know when it would stop and if even it stops, might go further down. It's impossible to predict the prices and the best thing we can do is just react to the market. I am waiting for the bottom to be hit and then once we start rising again that is the time I buy some coins again.

Quote from: Vaculin on May 18, 2021, 06:32:45 PM

I'm waiting for the price to lower more where $30k is my target buying price. It could be possibly a long wait for me, maybe but if the market crash had to continue, it surely will come. But I was not looking for a possible $10k drop, that could be hard as the demand still high than in the previous years where are able to reach the bottom price at $3,800( or something).

Not sure if you will be able to see your desired price anytime soon but I don't think it's a bad idea to wait right now because the market is just swinging. People are criticizing tesla and musk for this but I don't think just because of that it is dropping so badly.

For people who have a large number of coins, I am a small trader to suggest but hold your coins tight and don't get panicked by these swings.

LUCKMCFLY

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Well apparently Elon Musk moves the market a lot, so much so that right now PlanB drew a line for what has great influence:

Quote

“OK moving on .. with current volatility, BTC at $44K and transaction volumes high, Bitcoin momentum (200 Week Moving Average and Realized Value) is still up and onward,” he commented on an accompanying chart.

Source: https://cointelegraph.com/news/bitcoin-price-could-hit-29k-next-warns-cnbc-chartmaster

Although there is as much panic in the market, I think that now is a good time to take shelter, that is, those who have BTC do Hodl and buy on the falls is the best strategy, we must not forget that the same PlanB predicted that BTC will reach $288k, Peter Brandt himself predicted that BTC would naturally lack 35% just for history, everything can change at any time, but it is good to have moderation in operations.

Vaculin

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Winding down.

I think that most of us are now ready to fill our bag back again. And I hope everyone will move on and accept that we are leaving the bullish season and face the crisis back again.

I'm waiting for the price to lower more where $30k is my target buying price. It could be possibly a long wait for me, maybe but if the market crash had to continue, it surely will come. But I was not looking for a possible $10k drop, that could be hard as the demand still high than in the previous years where are able to reach the bottom price at $3,800( or something).

thecodebear

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Honestly I think we've already seen the big correction. Well more than a correction it really just went down to the bottom part of the range it's been holding for the past 3+ months. There has been massive FUD for a while now, long term sellers selling for months, all new dumb money going to pumping worthless shitcoins, Musk manipulating the market around, yet another China ban (and a few other bans or discussion of bans, and various other types of FUD, and bitcoin still seems to be bottoming in the same range it's been holding for a few months now. Of course it could dip a bit lower but I doubt it would last long. It seems to just be at the apex of the FUD now as it carves out this bottom now that the first phase of the bull market ended, and in the months to come we'll see people get tired of the manipulation and the same old FUD and trying to pump shitcoins and we'll see people and institutions get in on cheap Bitcoin and the price will start pushing to new ATHs again this summer.

Lanatsa

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Quote from: kotajikikox on May 18, 2021, 04:49:23 AM

Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

looks like you foreseen the future mate because this post starts the biggest correction the market has since the ATH of 60+ thousand dollars.

but at least this is also the indicator that we are soon to come on the dreamed 100,000 price.

cannot wait to see it coming in the near future.

Getting someones analysis did happen cant really be called that they have seen the future but rather those speculations that they do had did really happen or came true.

We are all predictors on this market and it does only have two ways for bitcoins price to move neither up or down.Basing with technicals then we can really presume

on where the price could possibly go and in speaking with correction then is inevitable..A market that doesn't have decreasing price is already a manipulative one.

kotajikikox

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

looks like you foreseen the future mate because this post starts the biggest correction the market has since the ATH of 60+ thousand dollars.

but at least this is also the indicator that we are soon to come on the dreamed 100,000 price.

cannot wait to see it coming in the near future.

Wexnident

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Musk noises are just there for a bit, it shouldn't last long. They'd probably be back once they start selling off the BTC that Tesla and Musk himself has, since afaik they haven't sold theirs yet. After that, well, they can stay in their Dogecoin world. Changes are bound to happen though. As much as people want to ignore what Musk said, some investors are rather reliant on his opinions, and would probably initiate a small dump or so that could affect the market in the next few weeks. Nothing serious imo though, the market has been through worse.

jrrsparkles

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Another interesting tweet from Elon Musk to end all the speculations regarding dumping the bitcoin, I didn't see it personally on twitter but saw it on crypto news sites that Elon Musk was against bitcoin energy consumption but his company is still holding all those bitcoin which they bough for $1.5 billion earlier this year. Means now the investors will be back to the bitcoins right?

traderethereum

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If there is a big correction coming, I am sure there will be a huge increase after that moment because bitcoin and other coins will be like that from a long time ago.
Maybe the whales already sell their bitcoin at a high price before.
They are waiting for the huge correction to buy back Bitcoin at a low price because they want to make more profit.
Maybe the price will go below $40k this month but there is no right sign where the bitcoin price will go down.
We can just prepare for the coming and get ready to buy more bitcoin or you can try to buy low and sell high this moment so you can add more profit while you are waiting for the huge correction.

adaseb

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Unless we go below $35K I think we are still in a bull market however any terrority where we lose 40-50% from ATH, then I would look and maybe take profits on a bounce if that happens. So if we go down to like $32K and top is $64K, the 50% bounce would be like $48K where would be a good place to take some partial profits in case the bear market is actually starting.

I think this is the flush we needed. Way too many people made money. Look at all those who became millionaires with their Doge investments or NFT or DeFI or even those free airdrops. This obviously wasn't going to go on forever. So hopefully $40K holds and in a few months we will revisit ATH.

philipma1957

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Quote from: LogitechMouse on May 17, 2021, 09:58:17 PM

Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

I saw this to happen already and for sure many people here seen this coming.
When institutions first came, it created a hype around the crypto market. Many investors are instantly buying Bitcoin and some other altcoins and even those newbie investors also bought. If they bought at the start of the hype then they might be at a profitable stage up to this date.

The problem is those who bought at the top or is that a problem.. or a lesson for them not to buy at the top and learn to read the charts. In reality, corrections like this are inevitable and we've seen this things already. 2018 year of hell and the 2020 pandemic crash are just 2 of the events that I saw but throughout the past, there are many times that Bitcoin made a huge correction but still ended up going upwards after it.

Its just sad for me that I didn't took some profit at the peak for some reasons Cheesy

. Some are saying that the bull run isn't ending at least this quarter and they are saying that at the 3rd or 4th quarter it will end. You see Bitcoin going to 36k? I'm waiting for the 30k Cheesy

. Either way if you are an optimist or a contrarian then take this opportunity to buy Bitcoin at a lower price.

Since I set my descending ladder at
42
41
40
39
38

we have gone upwards and are now around 45k

cheap buys are gone

correction is over.

back 🆙

a bit annoyed as I did not get down to 40 or 39

I did get some at 45 ,44 ,43

the cheap sale is done till feb or march.

LogitechMouse

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

I saw this to happen already and for sure many people here seen this coming.
When institutions first came, it created a hype around the crypto market. Many investors are instantly buying Bitcoin and some other altcoins and even those newbie investors also bought. If they bought at the start of the hype then they might be at a profitable stage up to this date.

The problem is those who bought at the top or is that a problem.. or a lesson for them not to buy at the top and learn to read the charts. In reality, corrections like this are inevitable and we've seen this things already. 2018 year of hell and the 2020 pandemic crash are just 2 of the events that I saw but throughout the past, there are many times that Bitcoin made a huge correction but still ended up going upwards after it.

Its just sad for me that I didn't took some profit at the peak for some reasons Cheesy

. Some are saying that the bull run isn't ending at least this quarter and they are saying that at the 3rd or 4th quarter it will end. You see Bitcoin going to 36k? I'm waiting for the 30k Cheesy

. Either way if you are an optimist or a contrarian then take this opportunity to buy Bitcoin at a lower price.

philipma1957

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

I think you are optimistic about the dip going that low.

set a ladder of buys in at

42k
41k
40k
39k
38k

magneto

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Quote from: 2double0 on May 16, 2021, 02:14:21 PM

Btc had been nicely being accumulated but all the mess that had been created by Elon and other institutions that are selling their btc in the markets shows how dangerous can it be when institutions create panic in the markets. No, don't think that I am going to say it's the end of btc and crypto, it is not. They are just taking their profits till the areas where they can buy back more btc with their profits so cheap that the next cycle will break all limits for btc and it will reach $100k. As of now, btc should get to an area where it can not only be profitable to just traders, but to the spenders too who spend their btc and pay very high fees. Want cheap fees? Want cheap btc? Time is coming. 36k soon.

Indeed.

I do think that over the long run, the stuff about Musk and institutional investors will definitely be just short term noise.

But in terms of short run dynamics, I do think that everything is pointing towards a relatively big adjustment here. The $50k support has been broken in dramatic fashion and attempts of bull rallies have been futile so far. We're also getting further away from the 2020 halving event, which means that the hype is likely going to die down quite substantially.

BTC dominance decreasing is another warning sign which usually illustrates the later stages of a mania. So be very wary when investing in these times.

Topic: Get ready for the inevitable, huge correction coming. (Read 261 times)