How do you know if current prices are corrected or going to correct? - page 4.

dimonstration

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Dimon69

Quote from: Turbolantern on November 14, 2021, 05:21:58 AM

The current prices at any given time, how do you know if they are going to correct or are already corrected?

Like the prices atm.

Use a longer time frame such as Day or Week if you are trading for long term and 1H to 4H if you are trading daily to weekly. Lower time frame is dedicated for future trading. By determining the appropriate time frame on your chart. Use fibonacci level to determine if the current price is already overbought. There's a certain level on fibonacci that traders most often used to determine the perfect price for take profit. Use that and combine it on an Elliott Wave pattern to determine the next move.

Summary:

Determine Time Frame
Use Fibonacci Level to determine the condition of the price
Find the Elliott Wave Cycle Pattern to determine the next move of the price

palle11

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I think the main thing is that whenever there is a high volatility, you should expect that it will also drop, so you look or watch out for the drop. It must drop and that is the correction there but when it will drop is what no body knows is patient. Usually for me you can watch the candle position of the trade and the longer hours too. Your concentration on the market during a bull or bear time is important because the candle need to be understood with technical analysis. Technical analysis on a longtime chart is good and can help you spot correction.

bittraffic

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The analysts know it because when the price hits its peak, it normally corrects like when it goes up, it usually goes down. But normally they are just looking at the given time frame and then see it on RSI as it's moving towards the 70 levels. Some may already be selling at that level.

But it's not just the TA to be considered this time because of the economy, the fundamental variable affects the market to stay afloat. Maybe the traders are looking at what taproot could do.

galambo

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Quote from: Upgrade00 on November 14, 2021, 05:33:05 AM

You do not really get to know, traders can speculate but cannot accurately determine when the price action changes. This is the reason it's better to buy and hodl if you do not have knowledge of technical analysis, you are not burdened with finding out where the price is going, you only need to understand the fundamentals and determine it's a project worth investing in.

When buying, it's better to Dollar Cost Average than to try and game the market and wait for the price to fall.

There is no way one certain that todays ATH is final one for Bitcoin or it will go more up from here. Its all based on how good you are in analysing the market with tools and with your knowledge. DCA is best way to buy a coin, never invest all your money at one price.

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Quote from: Turbolantern on November 14, 2021, 05:21:58 AM

The current prices at any given time, how do you know if they are going to correct or are already corrected?

Like the prices atm.

No way of being accurate with that.

But that's why there are methods of knowing if it's the assumption if the market is on a correction. The known method is by looking at the chart of it.

You look at the peak and what's the lowest and compare it to the current price.

cheezcarls

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Quote from: Turbolantern on November 14, 2021, 05:21:58 AM

The current prices at any given time, how do you know if they are going to correct or are already corrected?

Like the prices atm.

The market is unpredictable, so we don’t know when will the prices be corrected at a specific time. We can’t control the market. There are instances that the coin or token may pump or dump in all of a sudden without warning.

Oshosondy

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Quote from: Turbolantern on November 14, 2021, 05:21:58 AM

The current prices at any given time, how do you know if they are going to correct or are already corrected?

At times it is just best to hold, because if you hold no matter how the price decrease, it will still increase back than when you started to hold.

Trading is difficult, the price of bitcoin in short time period is difficult to predict. But if the price of a coin has significantly increased, it is normal for the price to decrease but not to the point it started to increase, the price will still be above.

Stalker22

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Quote from: Turbolantern on November 14, 2021, 05:21:58 AM

The current prices at any given time, how do you know if they are going to correct or are already corrected?

As a general rule, when the price of an asset falls more than 10% over several days from a recent peak, that is typically characterized as a correction of an asset. These patterns often signal that bullish traders are exhausted and there are no new buyers to support the uptrend.
However, no technical analysis is perfect and future price movements cannot be predicted with absolute certainty. Consider buying in portions rather than going all in if you are planning to enter the market. That way you will be prepared for any price movements, and if the price drops further, you will have liquid funds to buy more.

Upgrade00

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You do not really get to know, traders can speculate but cannot accurately determine when the price action changes. This is the reason it's better to buy and hodl if you do not have knowledge of technical analysis, you are not burdened with finding out where the price is going, you only need to understand the fundamentals and determine it's a project worth investing in.

When buying, it's better to Dollar Cost Average than to try and game the market and wait for the price to fall.

Turbolantern

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The current prices at any given time, how do you know if they are going to correct or are already corrected?

Like the prices atm.

Topic: How do you know if current prices are corrected or going to correct? - page 4. (Read 459 times)