Was 22.3K the correction? - page 4. | Bitcointalksearch.org

jossiel

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Quote from: Phantom Investor on December 21, 2020, 02:34:59 PM

Was that price the correction

Maybe.

The price recovered already and it's $22,800 as of time I'm posting this.

Quote from: Phantom Investor on December 21, 2020, 02:34:59 PM

are we expecting it to hit 20K?

We're all expecting both ways, positive and negative. We can speculate about it positively because it just went through a $1k+ correction. Then, we'll see it back afterwards because that's the natural reaction of bitcoin whenever it plummets. Rush buyers would come and won't waste the opportunity when it corrects.

STT

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I think it was the news of the stimulus or bail out money deal and it was less then expected but either way prices pull back normally.

On 1hr bars we got 2 day average in blue capping us overhead for momentum and below is yellow the weekly average. The other lines are our progress relative to the initial high and quick sell off on this move first occurring, we've been retracking since then. We hit the low price earlier, regained it within the hour and then held this line to confirm action so we've risen from lows as support. I think OP 22.3k is a good area to watch for being lost or not in terms of weakness.

Fredomago

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Quote from: Phantom Investor on December 21, 2020, 02:34:59 PM

Was that price the correction or are we expecting it to hit 20K?

Correction ? I don't think so ,maybe its better to called "COLLECTION" because surely some Holders are now Collecting their Profit from the Bullrun for the celebration of Holiday season.
That's why there is only Lower Cut compared to the Dump happen week ago.
Bitcoin Did the Job Well for Hitting 24,000$ and if there is some small correction that's Normal for How much had the Run since November .

cr1776

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Quote from: Phantom Investor on December 21, 2020, 02:34:59 PM

Was that price the correction or are we expecting it to hit 20K?

No one knows. If projections are accurate, in the long term, whether you bought at 20k or 23k won't matter. Trading and market timing are rarely successful over long periods of attempting to do it.

It didn't help that Grayscale halted new Bitcoin Trust inflows (it happens sometimes). [ https://www.coindesk.com/grayscale-halts-bitcoin-trust-investments ]
Craziness with the coronavirus in England didn't help.

So those are likely some reasons why there was a drop today, but everything is really just a guess.

Phantom Investor

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Was that price the correction or are we expecting it to hit 20K?

Topic: Was 22.3K the correction? - page 4. (Read 718 times)