We will not know with certainty (100% accuracy) in which direction the price movement will continue. But I noticed that in the last 2 years indeed in May there has always been a correction in the bitcoin price either because of big fud news or because of other things. So I'm not surprised that the current bitcoin price is experiencing a correction. But we also need to know that there is always a correction before a big increase occurs. So be prepared.
It may be true, at least that bitcoin price underwent a major correction in May for 3 years in a row since 2021, 2022, and 2023. But I'm not too sure that May 2023 will close with the first red candle since market recovery happened, from January to April 2023. I mean there is a possibility about the 5th green candle at the close of May if the price recovery phase has not stopped.
Also, expecting bitcoin to always be good may be a weak assumption because a price correction is always possible. The market can move in any direction regardless of how the trend is going. But one thing, we have to be prepared for whatever the market situation is and accumulate it if you want to hold bitcoin for the long term.
I personally am still in accumulation mode so the dips still make me smile because I can buy from any corrections that occur.
Good job, that's great at all.
Correct. Well up and down movements (fluctuations) are normal in Bitcoin. And sometimes a correction is needed to establish a firmer foothold on the way to higher gains. And the current direction of bitcoin is still in accordance with the Accumulation Schematic pattern: Wyckoff Events and Phases. And today there is also a positive movement, or more precisely every day Bitcoin continues to try to make a positive trend by making several test increases.
And when it comes to long-term investments, small-scale movements like this sometimes don't get much attention. Especially if it's still in accumulation mode. So staying focused on DCA is what I still do too.
And as you said. I also think the same about the possibility of May closing with a green candle for this year. different from previous years which always closed with a red candle. At least I keep track of bitcoin movement because I trade daily on altcoins. So if we already know which way bitcoin is moving, it will be easier to make an analysis of altcoin movements.