Topic: Was 22.3K the correction? - page 3. (Read 718 times)

Im presuming that we would be heading back down to 20k price or lower since we are on a holiday season which same as you said where people will be taking off their profits.

Yes, there was a decrease in price but it didnt really go as bad as we presumed but we cant conclude either that was already the correction or pullback that we've been waiting.

On technicals there were several spots for some buyback but it seems the price had stabilized or moving sideways once again which make it really hard to
make up some decisions neither you do buy or sell to this point.

^ We will never know until the middle of next year. But for me, it is not a correction. We have to consider the fact that one of the greatest holidays of the year is about to come.  So people would consider selling and profit with their assets first then reinvest later. So for me, we will know it once we reached the next 6 months. I have been eyeing it since it hit $23k already. I was expecting a more dramatic decrease in the value as bitcoin is very volatile. But luckily, it did not. It’s slow so there is a chance that It will still increase. Remember that once there is a correction there could be a price pump in the market.

It had some correction just today but its really not much, just topping out on a Fib line thats matched highs all along this large price movement for weeks.   I suspect its from the news of further delays to any stimulus bill being sent, really I dont trust news like this as a proper reason for movement but it does effect market sentiment overall so to BTC now we react to Dollars so often and have main market involvement



So negative projection as OP feared, here by this extrapolation that'd be about 19k at first count.   That low would match Dec 11 low and also the thanksgiving sell off, still within a range of positive movement but a correction.   Blue line is 50 day average, its a fair downside target to pencil in but theres not much excuse to expect it as yet and we are above the 2 day average.   2 day is declining and weekly still rising, if they meet we could sell properly at that time perhaps.

By the looks of it the price is not going down "that" much. The news about XRP should have dropped the price a ton, and it did dropped a bit or maybe it was just coincidence that the price dropped during something like this, but the price dropped nevertheless yet when we look at it, price drops in all crypto goes from 2% to 8% or so at the top level, which is not really all that much and bitcoin is still above $23k level.

This shows us that bitcoin is not ready for a big drop just yet, doesn't mean that it will never drop, but it just means that bitcoin price will probably not fall that all that much for just right now. It is going to be strong and the support of buyers will continue to keep it high, we now have corporations with us trying to buy which allows us to be stronger, normally I hate these financial companies but they are very helpful during this period.

i Have been monitoring since 5am because of making final decision what to do in my holdings,Abd it seems like correction is coming ,because the movement has no consistency and altcoins are also in Pain.
but only two things will happen for sure,and that is either we will continue bullish  till 2021 or market will dump before the year end.
Exactly ,the complicated movement make it harder to tell ,so maybe i will just keep my coins.

The correction now turns out to be somewhat complicated to forecast, in the world a new strain of the virus is now being put, this can cause some panic, some countries are already closing borders again, everything would be a matter of waiting, really the price per now the Bitcoin one is very good.

Indeed, on the lower time frame, $20.000 is strong support, you can see it on the hourly time frame. But, in the high time frame weekly on monthly the strong support is on the $12.000 barrier which I think if the current bull run market same with the previous bull run (2015, 2017, 2020) its price will fall to $12.000, yeah not bad since the previous bull had made bitcoin price touch $3000 as it all time low.

Was a lame try to spread panic and drop price due to the scamdemic 2.0 in England...

i have crossed this Post recently https://bitcointalksearch.org/topic/m.55905082 indicating that Even how high bitcoin price now yet investors are keep on coming .

this means maybe that 22.3k is the correction or something lower will come first for the preparation of the 2021 real Bull run.

If those Big companies really showing interest and proving by buying in the hype so what more small investors and businessman ?

the opportunity is knocking at their doors now and seems like they are grabbing it.

We're back to the top rung of the ladder again, its actually surpassed the daily trend or channel once again.   So the initial fall on Monday reversed while getting close to the lowest bullish trend and a few hundred off weekly average; both of which I would consider the real tide line for our direction over a larger view.    It failed to properly break pricing down further then just profit taking, no real damage done to the speculative trade, the momentum of monetary flows in etc.   Its once again back to beyond expectations in performance, all rockets fired on basically.

Hopefully this is the case and we can expect another Bull run before taking more losses in the price. 
If this is the case then we are looking at a correction of only 2k which is much lesser than other corrections in the past. 
Let us hope this is the case but I still fear a correction period where we see the price of 1 Bitcoin drop to below 20k.  Or even my worst fear of below 15k.

No. A 10% dip is definitely not the correction.

When price is crashing below $19K, that is the correction.

Call me old fashioned, but until we see a 30%+ correction, the prospect of one is like an ominous cloud hanging over the entire market. It's coming, the only question is, from where? $24.3K or somewhere else?

One thing is Sure ,We are expecting Christmas  and Newyear lol.

Why always asking when the price goes down But never Do the same when the price is bullying.
Crypto Is a volatile market and we don't know what's each others plan In their investments and holdings.

If you are not ready of being Stocked then never Invest in Crypto at all ,Because this market is for risk taker and has a Patience .

It quickly went back up to high 22's and low 23's after that dip to 22k. But I would expect a correction back to $16k - $18k range, just to check back in one more time with where those dips from $19k were establishing support in that range.

I'm guessing January will be down for Bitcoin, then February it'll come back up to current price levels and start pushing beyond.

Also Grayscale has stopped buying Bitcoin for now. I think maybe they take a break for a few weeks once every 6 months for I dunno some sort of accounting or business reasons. So that like $200+ million weekly of Bitcoin being taken off the market by Grayscale won't be happening for probably the next few weeks. So if the price is going to correct further downward, the next few weeks is the best bet, before accredited investors start scooping up 9 figures USD of Bitcoin through Grayscale every week again.

Currently the price goes down slowly to $23k, but we can't really tell what will be the next support level with this retracement, (yes, I'm seeing a correction already). But then again, with an asset that is very volatile as bitcoin, there's no way we can see what will be the price correction.

It will keep fluctuating, until a certain period, and then stop, trading sideways, and then a bounce back that is higher than the previous price. We are waiting for $25k to be breach at least at the end of the year, so let's hope and be optimistic that we can get to it.

Price correction or pullbacks are pretty much the same but asking on how deep it would be then that would always be a question of all that cant really be answered
but somehow with some help of technicals then you can presume out on where could possibly the price be ending up in case for some price pullbacks but always
put up in mind that it isnt always accurate nor precise when it comes to technical analysis but at least you do make out some presumption due to some basis
rather than on blindly presuming without any having done some plotting.You can always set on your own buying point.

I think it's correction period and it's not going to stop here we might see more fluctuations in upcoming weeks and it's not new, this happens in the last week of every year, I just hope we don't face one more downfall which we faced towards the end of 2017 and begining of 2018.

If the value of Bitcoin drops below $20k before the end of the year then we are in trouble.

probably for now..but remember Bitcoin 'loves' to go sideways for 1/2-3/4 a year at best ..if not down...also it loves 30-35% price corrections in the down column as well...

Bitcoin..you 'merciless bitch' will even go down as low as 75% just for giggles a couple times. So the ONLY WAY to compensate for this volatile and complex speculative asset

is to just frigging HODL for no period less than 5 years, and I'd only do that in a real fiat or USD real life emergency or better yet 10 years. The 'long game' is the only way

to play any kind of speculation. BTC/Crypto is NOT an investment..it is speculation..it could go down 1/2 due to adoption worldwide and act like a traditional investment..it

could stay at current price now due to adoption and act like, again, a traditional investment of 1-2% per year or it could do what it has in the past and go from $22k now

up 5x/10x/16x etc. There's the fun don't ya know. Sell crap out of attic you may die will on eBay and buy Bitcoin.....what the hell, at worse you have an empty attic and

a rec room and your house goes up in value $15k or some such. But don't stop buying BTC dust at $22k BTC prices...because what are you gonna do if in 8 years it is $100k.

But Bitcoin will go down at least 30-35% this winter of 2021..count on it too much is screwed up ..IMHO everything will take a haircut from stocks to whatever 30-35% in

that the world is fighting a pandemic and recession and just plain, in the USA anyway, undoing IMHO a catastrophic last 4 years under Trump Administration and needs

a complete reset in that area as well. The sheer amount of work and uncertainty and 'adult'ing' or being an adult and stepping up to all this is gonna cause a backlash

of reality to folks.thus, again, I think everything is gonna take a haircut above. So do all such BTC/Crypto purchases with a 10 year plan or 5 years if you have real life

issues, like medical and have to sell some. Remember Bitcoin goes down like an elevator and goes up like your taking the stairs on crutches..it just is how it is...and

I point to our last pump to current ATH as proof!

Bitcoin: "You merciless Bi-Polar red hot mess bitch! Damn, your fun!"

Brad

Look at the RSI, it is giving a more meaningful answer, when we touched the new ATH the market moved backed to the local support line several times and RSI reached on overbought area, which means bear is trying to take control. Now the market broke the local uptrend line 23300 and bounced backed from 22300 which gives now strong support. if the market break this support then we should be ready for a downward movement towards 20k.

It is still hard to tell if it is really the correction or the people who have been holding for long is now taking their profit.
But I don't really think that it is the correction,
But if it is the correction would we see the market continue to move forward?