Topic: Is it correction time? Market down by 8% - page 3. (Read 774 times)
We can not really determine the possible cause of the dump in the price of Bitcoin. The best we can do is guess what might be the reason behind it. My best guess is correction because, all crypto users know that Bitcoin would go into halving in may and they wouldn't not even think on selling Bitcoin before it. After the correction, I believe the price of Bitcoin will continue to increase in the coming months as the halving definitely comes closer.
I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.
That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.
The market price is indeed falling at the moment but for sure, there's nothing to worry. I doubt that this point will be the "correction" period since the market downfall is not that big and correction usually occur with a bigger percentage of market price cut. So maybe, it is just a part of market volatility and if it would be the start of correction, no need to panic because its market price will again increase and we should look at it as an opportunity to invest.
Expect a correction like this. Continue bitcoin price have risen since the beginning of 2020. It seems to me that Bitcoin is giving me another opportunity to buy. Now price $9600 bitcoin. If $9500 is broken down further down the support, then a major down trend can be seen. I'm not a good trader!
I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.
10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.
The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.
The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.
Expect a correction like this. Continue bitcoin price have risen since the beginning of 2020. It seems to me that Bitcoin is giving me another opportunity to buy. Now price $9600 bitcoin. If $9500 is broken down further down the support, then a major down trend can be seen. I'm not a good trader!
we witness the very last time sub 10k right now... historical moments
It could again happen so we should not be disappointed with the current happenings in the market. We should take advantage of the scenario if ever the market price will continue to fall, in order to earn huge profit during the next uprise. 
We should not be surprise with what is happening now, yes, there is a correction but the good news is that we are still up compared to the price last January 1, 2020. Like always happens, when there is a massive pump, a usual correction happens, it's not new so let's relax and just prepare to see a possible bounce back soon, don't worry it won't take too long before this price will be back to $10,000+.
10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.
The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.
The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.
Expect a correction like this. Continue bitcoin price have risen since the beginning of 2020. It seems to me that Bitcoin is giving me another opportunity to buy. Now price $9600 bitcoin. If $9500 is broken down further down the support, then a major down trend can be seen. I'm not a good trader!
In this volatile form of market, you can't see that every time will be having an uptrend motion but rather to see a roller coaster alike.
Feel it was a market correction by you but it wasn't like that and that common scenario has been encouraging people to take the opportunity and buy more coins in anticipation for the next pump. We don't be bothered this small dumps, we don't need to start FOMO again as it never gives a positive result but only be dragging the market to dump more and more.
Trust and patience are mostly like we need to build here and for us not getting desperate to think of selling because we are already in bearish again.
We have to open our minds and tried to understand how the market works.
Feel it was a market correction by you but it wasn't like that and that common scenario has been encouraging people to take the opportunity and buy more coins in anticipation for the next pump. We don't be bothered this small dumps, we don't need to start FOMO again as it never gives a positive result but only be dragging the market to dump more and more.
Trust and patience are mostly like we need to build here and for us not getting desperate to think of selling because we are already in bearish again.
We have to open our minds and tried to understand how the market works.
we witness the very last time sub 10k right now... historical moments
I read that as the opposite for a second because that makes more sense, we are rising upto 10k as a ceiling rather then a low. For the moment at least, on short term time frames we are trading lower on weakness.
So just simple 2 day and weekly averages we trade below and should continue to view price action as week till it can confirm above on 4hr bars. See if we maintain 9800 area and make another attempt to rise higher. Seems likely selling continues until a better level of support is found and we can reset and rebuild upwards. My estimate previously was as low as 8000 because BTC tends to be that volatile but it may be 8500 or possibly higher. We also have 50 and 200 day averages which are both rising now, their positive direction should cap any especially negative talk.
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Yes, it is correction time, although the market is down by 8%. The correction time will be varied and will be the same from time to time, so if in this time we see bitcoin price is down for $9,900, then that is what we see, and we hope that the price will not go down for more. We need to be careful because the price can move to any price, even the price can go down again. So if you want to buy bitcoin, make sure you already analyze and decide on what price you want to buy bitcoin.
buying on current price has high risk in my opinion, we need to wait deep correction so we will get best price. today we see 8% correction and chart show bearish signal,maybe it will down again before halving time coming. we know in financial market we often heard about "sell the rumor and buy on fact" .maybe it happen now to cryptocurrency market in next several weeks after few weeks we see bullish movement.This day, the bitcoin price still not increase, and the red candle still appears on the market, so you can see that we have another good time to buy bitcoin. Maybe if we compare with yesterday, the price is not moving too significantly, so we can analyze more to get a good time to buy bitcoin. But yes, this day, bitcoin price already increases for a small price, but then the price is back to down again. I still wonder if the price will reach $9,600 level price or not because if it touches that price, I will get some more bitcoin
Yes, it is correction time, although the market is down by 8%. The correction time will be varied and will be the same from time to time, so if in this time we see bitcoin price is down for $9,900, then that is what we see, and we hope that the price will not go down for more. We need to be careful because the price can move to any price, even the price can go down again. So if you want to buy bitcoin, make sure you already analyze and decide on what price you want to buy bitcoin.
We should know by now that BTC is able to increase in prize and that we should take advantage of the prize we can get it in discounted price especially now that halving is coming and that there will be a chance for us to earn. It may also due to crisis that are happening globally but know that this prices will definitely will go up again. We just need to learn how to monitor and take advantage on it. I guess the discount price still happens at the market because we can see that the bitcoin price now still at a lower price, although the price now is not the same as yesterday. Maybe we can place an order buy at a price yesterday so we can get a lower rate of bitcoin but still be careful because the price can move to another lower price.
Is price correction on the way or just short sellers playing their game?
It is difficult to know, in this crypto market it seems that people who have a lot of money can dictate the movement of the market, it is possible that people who have a lot of money have sold large amounts of bitcoin as soon as the price reached $10400, and when they see that the price has already dropped enough to buy, they bought and the price will increase again. Someone said that the biggest challenge was to exceed $10700 and $13800, but apparently $10500 was a big barrier that was difficult to break
Actually, I guess this correction is necessary despite the current price is decreased to $ 9700 and it may this dip continues in next few days so It won't last long in my opinion. In fact, this is the appropriate chance in order to buy Btc and other digital currencies like, Ethereum, Tron, Cardano and even Bitcoin cash. Don't panic and keep holding or collecting cryptocurrencies, and remember that the market is always volatile but I am pretty sure that it will obviously rise and even more much than before.
I do think it was expected, for a good number of days now btc and some alts has been on the rise, so i am not surprise to see this correction, my only question is how low can it get! Can it go as low as 7k or can go even lower?
I have been on usdt since 9k so i guess i will wait some more to see how low this correction will go before getting back in.
I have been on usdt since 9k so i guess i will wait some more to see how low this correction will go before getting back in.
It could also be the bull trap but we can't say anything so surely. Anyhow I believe this year will be the year of recovery and market will come back on it's feet. Maybe 2021 will be the year of massive breakthrough maybe the bull run like 2017 will return,. So we just need to see this whole year as a market trend since the start of 2020 is bullish type but let's see where it settles by the end of 2020.
So far in 2019 and 2020, many people have observed that during Sunday and Monday crypto markets are coming down for giving opportunity for buying dips and this is what exactly happening for this week also. These are the things could be just the coincidence but it has been regularly happening since 2019 and still continuing even in 2020. I guess this cannot be correction but just a pull back and market may test again $10,500 and $10,900 at any time during this week.
We do not need to worry about this short-term correction because market is still staying stronger above the support level of $9500. Only on breaking this level we need to change our view on this current rally. Breaking $9500 levels could lead to testing $8800 levels again.
We do not need to worry about this short-term correction because market is still staying stronger above the support level of $9500. Only on breaking this level we need to change our view on this current rally. Breaking $9500 levels could lead to testing $8800 levels again.
I agree with u bro, normally people take a dip at weekend only and it happens at 2018 - 2019 . Now at 2020 seems it happen again. I believe my stop loss will be $9200 for this time.
This dip was expected as market seemed to have become uni directional for btc and eth for last few weeks that was up but i think corrections and stabilization in a range is important for solid growth because we have solid supports formed on the way up in this way. For people who seem discouraged with this dip i would like to say that its good as overall trend has been bullish now so take a chill pill.
So far in 2019 and 2020, many people have observed that during Sunday and Monday crypto markets are coming down for giving opportunity for buying dips and this is what exactly happening for this week also. These are the things could be just the coincidence but it has been regularly happening since 2019 and still continuing even in 2020. I guess this cannot be correction but just a pull back and market may test again $10,500 and $10,900 at any time during this week.
We do not need to worry about this short-term correction because market is still staying stronger above the support level of $9500. Only on breaking this level we need to change our view on this current rally. Breaking $9500 levels could lead to testing $8800 levels again.
We do not need to worry about this short-term correction because market is still staying stronger above the support level of $9500. Only on breaking this level we need to change our view on this current rally. Breaking $9500 levels could lead to testing $8800 levels again.
Yes, this is a slight correction for the entire market. We have experienced a strong rally so it is time for this market to adjust and get ready for the next rally. In the long term, the market has uptrend and we just need to patiently hold and wait for profit
I think this correction is just maybe, this is still the beginning because the next correction might be quite deep compared to this and next maybe the bull season will come back, buy some at a time like it might be the right moment.
Yes hopefully this is just a correction before the path to $13000 will be achieved, but we have to survive in the current level, if not then we will see the $8000, hopefully all undisputed
all people sure it just correction after several day rise strongly without any down. and now traders taking profits from their position and waiting best price to buy bitcoin and cryptocurrency again to get maximum profits in next several months. buying and selling strategy more worthed than just holding. it could accumulate our profits from several transaction.
Yes hopefully this is just a correction before the path to $13000 will be achieved, but we have to survive in the current level, if not then we will see the $8000, hopefully all undisputed
Our IMO is in the bull run market and the price decline is not that much of a problem, many assume this correction is a dump due to short-term investment. some say this is the whale's strategy to take maximum advantage, halving is a few moments away, the price jumps for sure, but maybe the impact on altcoin will be no movement later. to keep prices falling further, I have placed at a certain point for stop loss.
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