Bitcoin Forum

WARNING INCOMING CORRECTION

Hodl onto your coins.

Bull run not over.

HODL!!!!!!!!!!

Can you explain better ?

Somebody sold big amounts of Bitcoin here and there and the price fell quickly from 1618$ to 1472$. The numbers I have are from Kraken, but it's not the only place with this behavior.
I'm curious what is going to happen next.

Rebound, that's what's happening next.  And pretty nicely, too, I might add.   Spazzdla is right,  this bull run isn't over yet.  The volatility is nauseating,  however.   Glad I don't have a ton of bitcoin.  Sort of.

As expected.

By the way, we need this dump so that we can see how far it goes down and test in what price will it slow down to be considered as correction price. Right now the little decrease slow down and now playing on the level like it was before. Why we need this correction price? If the correction price will established then that that will placed the new average price low and because that low is considered as high before, we can expect a big price increase as we progress.

It always rebound. The only thing that really affects BTC is blocking of fiat withdraw, heavy government inspections, hacking, scams, ETF fail.

Yeah people get too excited to soon, like $3k in 2 weeks!

Correction is imminent, but it's just short term. Just trade your way up and make use of any movement that the market gives you. If you use common sense, then you'll be able to make a few quick bucks. I pay no attention to Bitfinex's price, but I expected the price to fall down as soon as it reached the $1600 level -- and it did. Exactly the same right now when it touched the $1700 level -- another dump. Easy money.

In relative terms, the volume and overall buy support is piss poor. It doesn't take much to dump the price down with a small number (again, in relative terms) of coins. Example; 2K BTC is enough to dump Bitstamp around $240 lower, currently. The higher the price goes, the lower, and thus weaker to overall buy support gets. Whales that keep gaining coins whilst trading, will have more control over the market than ever before in this pace.

What a great volatility! Some months ago I never imagined seeing this price so high. I made the mistake of selling most of my coins at $1300 few weeks ago, expecting a potential return to $800 mark to buy, but I see that I made a big mistake and I'm awaiting for that correction with anxiety.  :'(

price went up a lot in a short period of time. and whenever there is a fast rise or any rise for that matter, traders sell at some point to take the profit. and when they sell price comes down.
that is called correction. and that coming down is always smaller than the total rise. so you either have to sell on top before price corrects or don't think about selling at all because price will go back up and you'll miss it.

a tiny correction already happened and i think that is it for now. if the speculation about ETF being the reason for this rally is correct then there is more rise to come without going down or slowing down. and that will last up until the ETF day (i think it is in 10 days but still am not sure) and then the bigger correction happens possibly before that date so that to create a nice dip to buy back in case of acceptance.

We are again into $1600 levels, does it mean we were into usual ups and downs of markets in the course of reaching $2000 levels. Japanese's drastic adoptions of bitcoins and etf speculations are believed driving prices as exchange shares are dominated by yen and dollars.

https://www.tradingview.com/chart/BTCUSD/WhdRiGRK-possible-short-term-correction-incoming/

Yes. Japan and ETF are pushing the price of bitcoin to the $1600 levels. But I still believed that correction should be happened at around $1500, if it happened already then we didn't felt it and the price continue to rise. I hope the price is sustainable so that we are all for the taking before the year end.

Nice try it was a dead cat bounce in reverse we call it a dip or someone taking profits ^^.
That said I am liking this rally still the time doesn't seem ripe for a collapse although it is Cinco de Mayo and the Mexican Peso may loom over Bitcoin on this day (Does some voodoo hand gestures ^^)

A correction happening soon is just right after seeing a big pump in price because there will be some people who will take profit of course to rebuy again when price is cheaper but hold your bitcoin for now as OP says the bull run is not yet over. For now I will watch current price movements hoping to get more profit out of it I'm sure those FUDers hopes the same for them too.

i really hope some day people around this board put more thought into their posts. like adding a freaking chart, some analysis, some solid price predictions.

yeah we all love HODL and MOON chants but it would be great to see some analysis too. ::)

Bitcoin is probably due for a price drop after the huge increase lately. It is to be expected so we should not panic when it happens.

Profit taking that is all. Nothing goes up in a straight line, and it makes sense to bank profits from time to time.

Sure some correction is good and healthy. Cools down the run a bit and prevents us from getting into a BTC bubble, which is the most important imo for a longer upwards trend.
Shitcoins however will mostly crash one day.The bubble most of all lts are in is huge at the moment. Of course it can continue growing.
This is a situation crypto hasn't seen before. So who knows how long it will last.

Many times i see the title of a thread and i get very scared, when i click to open and see the content of the title i am surprised, surprised because it contains little information.

People should post "some solid price predictions."

They should, but this time there is no clear signals. We don't even have solid support level because of constant unrestricted price growth.

We can see 2 possible scenarios unfolded here, we will see either small correction with support level of $1470 or bigger dip and support will be around $1330.

Kraken seriously lacks behind most other tradesites on recent spike. And market dynamics should level out huge price differences.
Arbitrage flows might be damaged. Tether withdrawals.

Just imagine:
1) Buying on Kraken, catching the dips
2) Selling on Bitfinex, into these spikes
3) move cash from Bitfinex to Kraken. Would require currency interchange from Euros into Dollars. USD/USDT trade & withdraw
4) Goto 1), be seriously happy

Well, I'm alwasy a fan of bitcoin no matter what its price level is at currently, I really don't mind holding for the long term but I do think that the better decision to make is to maybe prepare for a correction downwards by selling half your coins and keeping the other half. So if the correction does happen you have some fiat to buy cheap coins with again, and if it doesn't it's cool because you've still got half your original btc earning that bull wave.

Hodling for the long term is a great strategy but not really so with the short term.