Bitcoin Forum

So far the pump has been steady and good. We've seen Bitcoin over $10K and Ethereum went up from $145 to $288, highest this year so far. Currently at $262 and falling.

https://i.imgur.com/HcdRFnc.png



The market cap just took a really nice plunge averaging 8% loss. Currently at $289B and red across the board.

https://i.imgur.com/XhNd8Vn.png




Is price correction on the way or just short sellers playing their game?


PS. Sorry for extra large images

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.

I think this dip will be good as straight up movement with no stabilization and dips is not solid i would like to see slow but steady move upwards and we should not be in hurry as bull cycle will stay here for many many months.

I think that everyone expected the correction and it does not surprise me, but I also think that it will be very short and after this, the price will move to 12 thousand dollars. after that, there will be another correction and it will be more serious. maybe we will again see a price of 7 thousand dollars before halving and the price will begin to rise

I wouldn't claim that 8% is nothing, but it obviously is not that much of a big deal.
It could possibly stop that sudden growth, but it won't kill any coin

I think the price correction will turn around as soon as possible because this month that we monitor the price movements of Bitcoin and Altcoin are pretty good but just now there was a bitcoin price correction, I think a lot of big investors play the price, we must be calm do not rush to take the attitude of the sell when the price correction occurs.

This can lead to a big correction. Currently not yet a big one but I will wait for daily closure to see what's next direction. If we see a sudden bounce , we should see a new high price. Protect your investment.

It's already happening, the market has been on a upward trend for quite sometime and it's only healthy it's experiencing this correction at this time as it offers new opportunities for those who missed buying to jump in on the fun. Ethereum has been the most surprising altcoins for me this year and from what I'm seeing it still has more to offer therefore there isn't any need for panic at this small correction it's experiencing.

Thankfully it isn't just ethereum price declining but that of the cryptocurrency market in general therefore it can be concluded, this is just a reaction of traders and short term Investors taking profit from the market. Small corrections like this shouldn't call for any alarm most especially as the year is just beginning, we're not even done with first quarter. There's still time for the market to recover and achieve new milestone.

Yup, here we go... Birltcpinnwent down and everything is also going down with it. Altcoinsnlf course have very high correlation with BTC so now they are even experiencing greater losses in many occasions.

A short term correction probably and for sure we will bounce back again. Traders and whales are active again to take profit, small investor like us should not miss this price level again, we can buy more and wait for the pump again. Don’t panic, the correction is normal and its bitcoin so expect more volatility while we are aiming for a higher level.

It appears like a form of correction, but i won't entirely take it as a correction, the movement cannot be specified and we can only guess.
I think this is just a temporary break, before bitcoin goes back to over 10000$.

lets see what happens, keep checking the charts

I don’t think so.Because bitcoin price up and down ~500 is not a big deal.Sometimes people's got panic to sell that time price goes down then again pump.If it goes down.I think for now bitcoin price should be in 9700-10000$.10k$ is stable for bitcoin now.If it get some support wall then it can break 11k$.

Not yet. We've been there before. Have you already forgotten that just 4 days ago the price at the same level?

Small selloffs are a normal thing in every uptrend and they don't change that we are still in a bull market. I expect this bull market to continue until we get really close to Bitcoin halving.

The correction of the people currently considers that the market conditions are on a bull run and it is impossible for us to switch to the bear market, considering that it is still at the beginning of the year, soaring even higher is very possible. precisely in 2020 crypto world is filled with positive news. I'm sure the incident was due to traders or short-term investments, so don't panic if it still hasn't touched a vulnerable point for more falls. okay, think positive, we will see a higher spike in a few moments. maybe at this time the opportunity to buy so as not to miss the train.

It is responding to price action trading strategy i believe, If the buyers have boought to the ten thousand dollar mark and a little over and then the market sellers decide to place seel orders in their numbers, you will see the price going down, although the buyers still exists but in a much lesser quantity thereby giving the sellers more dominace in the market space and that is a possible cause of the decline in price of bitcoin.

It has recovered slightly and quickly, it's up now by $292B which is very nice and encouraging to think that despite these slips, the market recovers on its own as we imagine.

Short squeeze I guess.

Use this code.

You can adjust the "400" at your desire that fits the viewers sight like this.
An example:

I can't judge this situation the correction will be happened when the price of coin fall more than 10% but I can't see it in the price of bitcoin or some altcoins (which are in the top).

Also, if we see the price fall more than 10% and its price can't increase again then I will assume that the bear market will come. But I hope this situation will never be happened if we see the the sentiment market right now.

The best thing you could do at this time is not to panic as selling can cause you more harm right now The market is acting just normally the way it always does Whenever there is high which you dont know how high is to expect a low too So its just market panic will just make things worse watch attentively

From the chart, it makes no sense if only because of the short-sellers that are playing the game. This is more like a market correction. Moreover, all coins experience it, of course, because they follow Bitcoin as their main reference.
We see how some coins even go down by more than 20% like ETH and EOS. This is really a very rapid decline.
If indeed this is a market correction, approximately, to what number will this happen?

Panicking is not good especially if you just see the price only dump for $300 and there’s no good reason to sell because of the present dump. Ok this is just temporary and later on we will go up $10k again, we don’t need to create panic nor be on panic, bitcoin moves better this year.

You do not worry, the market goes down only to fill gas, after that the market will skyrocket and of course there will be a bull run, therefore this is an opportunity for you to buy more and get a very big profit, because 2020 is the year for the market to recover and of course a bull run will occur.

Thanks for that.

Maybe it's the last call for all those who missed to buy when it was low.

One more plunge so everyone can buy cheap.

I guess that we see a correction for all coins in the crypto market. We don't have to worry about that because the market will be back at the current price before and it will have a chance to increase back. For people who are ready with these situations will use this time to buy more bitcoin and altcoin because, after this, the market will rise again. The falling of the price at the market will not make them afraid because they know that this situation will happen many times, and this situation will give them another opportunity to buy the coin at a low price.

If you check at the market, it seems, not all coins are down because some altcoin uses this chance to lift the price to a higher price, although the price does not increase so high.

At the moment Bitcoin is above 10k now. The market is bounced back and is steady as compared to what it was few hours back. I think it was short selling and looking into the present situation it is normal. This not the first time that Bitcoin has gone below 10k. I also feel there is a strong resistance at 10.4k price for Bitcoin, if it breaks that price barrier than we can expect it to reach 11k. At moment the market are trading sideways.

Obviously the whales will want to make it low so they can set up another wave and for me this is a good chance too for those who havent bought yet before the bull run has been emplaced.


Market correction is set to 9500 for btc if this was indeed a correction. I see a lot of pull back orders. You asked us to see the chart and telling us it will be the same? Only the short seller playing the games. What was that even mean. Charts only view as slice of direction whether the market go up or down and it seems we are rallying and thats a typical scenario.

It seem's like the market is having a correction time right now.
But I think we would see a price bounce again anytime soon.

Compare to what price last year, yes the price of bitcoin this 2020 is much better.
Before having a panic or planing  to sell your coins, check the stats of bitcoin , the 8% low is normal in bitcoin price sometimes you can see 25% increase and decrease in just a day. Nothing is new with this event and we do not need to worry everything that happen today is normal , i cant even say its a correction since we are not yet in the bull market season.

I think little correction, we usually see upward moment months before halving, 8% isn't much in crypto world anyway.

In some analyzes, the current price is a support point where if the market does not go up then the possibility of a fall in value is very high. So prepare yourself, for the bad possibilities, but if there is support and the market is at the point of trading at $ 10081 it may be higher.

There's always correction for every pump and for every dip you should expect this, that has always been the case ever since but the recent drop is very huge at this point in time where we are in the bull run, we'll just the hope can recover and reach the $12000 mark before the end of the year, I have a bet with a friend that it will reach $15000 before the halving.

Its just a short squeeze. Not actually a correction where whales might actually playing with the market's current state.

We can see that the market already recovered from 8% down by yesterday. Luckily that holders does not tag along with this short dump, if holders do panic selling, maybe this dump will be deeper that it is yesterday.

In every increase of price where bull run is coming there is always a setback of price and I can say that it is only normal as the setback is not that big.

Usually this setbacks are made by small traders especially those daily traders as they are using this opportunity to earn some profit. This is not a doing of big investors or whales, so we can assure that the market is still in good condition.

 

I'm being hopeful and wishful it's just a correction cause a lot of people got into some coins with the thought that the littlest pump is here to stay. I have a friend who is already complaining about what he'd loss on alts is hodling. I believe with the great prospects 2020 has shown so far,  we are in to see a bull this year

I think this is part of the correction when bitcoin has increased which is pretty good for now. Is not this correction has happened several times too, and in the end bitcoin is back up again. Maybe this correction is an opportunity for those who want to buy the bitcoin left behind when the price is still low.

To be on safer side I only invested 300$ on alt so that I won't entirely missed out of the surge continues and I have the rest of my money on USDT so that if bitcoin do fall I can buy

Whales are playing and they  wanted to take away your money,  it's tough to decide whether to move according to this direction or keep your assets
store from your wallet and allow this corrections to take place. It needs a lots of courage to work with this situation where you are  are seeing big
damages from your current assets.

if the pope is proven to be interfering in the fall of the price of bitcoin then you just follow the flow because as long as I trade when prices fall or correction like this then the price will quickly recover and here the condition of bitcoin prices also get support from halving that will occur this year.

Basically we all invest to get profit and when situations like this happen we should take a good step to stop the lose. In this case when the market has been on an upward trend, you should quite understand that: correction is inevitable and ensure to protect your investment before running into lose. Although, 8% to me looks still low compared to what the market has given while bullrun was initiated earlier this month. We should always stay on a safer side to stop our lose.

8% or 10% dump is not a correction at all. It is the natural behavior of the market. Bitocoin is still over $10k and ETH is over $265 so i don't want to say it is correction. Yes, this is the peak point of the price in the last few months.

haha very true 8% price movement is very normal in this space for a bull run corrections are very necessary and healthy and it should be good as long as the price is above the 8000 level which is the 21day moving average so it should act as a big support. corrections should be more than 15 to 20% IMO

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.

I hope this will not be the highlight. despite the natural decline in the crypto market. but I see the current situation is an attempt to strengthen the market. as we can see, the decline is indeed happening but quickly we can see everything can be controlled and maybe now the market is preparing to start the upward movement again.

 Market will move up and down these days, when the volatility hits, it doesn't matter the direction, it just moves up and down constantly after a while. Sure the market went up a lot but that kinda means if it can be volatile towards upwards, it could be volatile against downwards as well, thats why I do not really bother with these kinds of small downsizings and corrections, they are bound to happen all the time when the volatility starts. Let us just hope that this volatility will continue because going down %8 is fine if we can somehow continue to go towards 20k route, like going from 7k to 10k to 9k to 12k to 11k to 13k type of movements are fine as long as we go upwards in the long term and keep profiting.

It is the correction time but if you don't take risks (with too high leverage in margin tradings), and don't let the market takes your money out entirely (by liquidation), you will be fine.

Corrections are mandatory to help the market move upwards to much higher level. I like corrections. Sometimes my balance drops due to corrections (in the bull market) but at the ends, weeks or months later, I am fine.

You are right, the possibility of a more dynamic market moving is very likely to occur. especially before halving, I think market movements will not only move upwards. the possibility of the market moving down is very large, so be careful and don't panic easily.

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.

Its not surprising actually because thats the nature of crypto, if there's a price increase expect a minor correction due to some investors taking advantage the situation.

I'd like to think this is a minor recovery, in the coming days the market will recover again, for sure other investors will buy back to accumulate especially that halving is few months away.

Thus dont worry too much and just go with the flow because this is temporary, remember the market is high volatile.

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 was wondering the same. As of now, we are still standing at $9,920. An analyst named dave the wave made a pretty accurate prediction back then and are saying that this is just a short term call we should look at the mid-long term. I don't know if this is correction time so I'm at standing by, setting my stop loss at around $9,500. Though I hope that it really is because I'm still short (lol) Or maybe this is just a small another pull back before you go beyond $10,000? I doubt it will be severe though. Just watch the market close for now because anytime it might change drastically in a matter of minutes.

Bicoin moved from 8,000 form December to over 10,200 before feb. i think the bull market was not that huge. expecting such correction is too early. the pump wasn't much huge and i don't think this correction is right. the sell off was to avoid been rekt. currently XRP went down in bitmex and affected lot of people recently. the current drop is as a result of not getting Rekt Not market correction.

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.

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.

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, 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

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.

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.

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.

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.

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.

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.

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

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  ;D


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.

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.

https://talkimg.com/images/2023/06/12/A91N2.png

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.

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.

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!  ;D

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+.

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.
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.
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.

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.

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.

you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.

but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.

This is just a slight correction and I am not anymore expecting it will ever go down again, as of today, it seems like the price is now quite stable and I would not be surprise if bitcoin will rise back to $10,000 again and will create a new high this year (not an ATH).

Next jump would probably be $11,000.

Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.

People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.

It's just a little foreplay before the real game starts.

maybe this is the time of correction not that day because Market still pumped the following days but today?it is seen that market continue for dump from $10,200 falls to $9,500 it is Bigger than what the last dump happen so basically we will now ready to wait for the final dump to start the Bull for the halving season in which will happening this second quarter.
we have our own strategy mate while we are both for long term holding others are maintaining their DayTrading and Semi long term so let us respect each others choices .

ITs a correction to leaving the previous bullish channel.   Doesnt mean its that harsh and also we can correct over time not just price.

https://talkimg.com/images/2023/06/12/A9YDg.png

We are reacting to monthly average but below a weekly average which I estimate means near term action is in a negative phase.    Buyers still involved but aspirations are capped by previous resistance I think, I reckon we resolve lower.

Whew, and that order might get executed too, the way the market is going right now.  Bitcoin is at $9531 as we speak, which is about a $700 drop from yesterday's high--this is one hell of a volatile time, and you actually gave some good advice for short-term traders who want to limit their losses, although I would argue that if bitcoin got as low as $9200 it would probably be better if you started buying the dip instead of selling.  I don't think the overall trend is down.

And yeah, this is a minor correction in the making.  I'm sure plenty of traders made some decent money when bitcoin broke through the $10k barrier, and many of them are cashing out their profits.  But hopefully bitcoin will get back to where it was.  It hasn't been taking long for it to rebound from these dips, but we'll see.

If you're doing this kind of investment then it will work out for you just fine. Keep buying and holding your coin  especially when the value is being dump, correction is a good chance to invest more and potentially gained much higher profits when the bull season show up and make a huge pump around the market.

The current downward trend of the market value of Bitcoin is some how good traders who will use this opportunity to buy at a lower price pending when the market increase and it is a bad move for those who may want to sell at all costs as a result of one personal problem or the the other at this time.

Yeah, it's just over $9500 now so there's a 'huge' drop from $10100-$10150 from yesterday. Really volatile and unpredictable, others might say that the push above $10k again is just a bull trap as the price immediately went on a downward spiral. Definitely, @9200, good price to pick up and buy in the dip and take that opportunity again.

I'm hoping that it's the same scenario that we have right now and this is more encouraging because of the near approach of halving. No need to look for the cause this time because a downtrend makes everybody to wait until the drops stop.

And when it happens, everyone will start to get their buying positions ready until it hikes again. I wish that $9500 is the support this time and it's still a decent price imo.

for you and to some yes but for me , i dont consider every decrease good .

obviously bad if you sell when you bought at higher price before but the dip is always a good time for buyers to make a move  .

dump of the price always means a correction especially if it happen after a good pump  . and you said only 8 percent ? not bad at all for me but not good to some that who wanted to dump the price more harder just because they wanted to accumulated more coins  .

The "decrease is good" notion came from the reality that if a price of anything falls but doesn't fall too much after a huge increase, that means increase may not be over.

By logic let me explain it with an example; if bitcoin price went from $7k to $10k and dropped to $8k, that would be the "bad decrease" how if it moved from $7k to $10k and moved only to $9.4k or so, that is a "good decrease", not that any decrease is a good decrease in any way but this is said more for the reason that maybe the increase is not just yet over and even when the price is trying to go down it is not allowed and kept at a high price, that is exactly the reason why people are still bullish about bitcoin even after the fall of the price, "correction" always happens and welcomed as long as it doesn't turn into a bear run.

The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.

Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.

I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult. But that can be done if many support and big demand from traders so the price can slowly increase to that price. We need to wait for more because we are at the weekend, and this time, we don't know if tomorrow will be the time for bitcoin to increase back or not. Congratulations to people who can use the time to buy bitcoin at a low price so they can expect to make a profit later.

It's moving up again but still far from $10500 level but just like what happened before after some downfall bounce back will take place,  most of the time those who are dealing with scalp trades are the beneficiaries of this kind of market situations, if you've got a strong knowledge you'll be able to position yourself and take profits from doing day trade system.

Moving forward to see another double digits since halving is getting nearer if there's lots of new investment to flow around this market will be bouncing
much stronger.

i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.

I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.

For sure, they are much referring downtrend or uptrend based on their own timeframe  :D, like in hourly chart timeframe, they can easily say if it's downtrend because of lot of red candles.
For what I understand of downtrend or uptrend is on viewing it on highly timeframes, like daily timeframes, weekly time frames or monthly timeframes. The higher timeframes you used, the higher proof you can say it's uptrend or downtrend.

It the bullish trend is not changing then that is a parabolic rise, I believed. But we all know that at least bitcoin is having a 'healthy pullback' at some time before continuing the positive trend.

As you can see in the last days, it seems that the price is inching at $10k again, so we see retracement to $9500-$9600. So we don't need to get upset, what we need is more patience.

Do not expect too much from bitcoin halving, everyone has circled that as a big deal in their calendar but the reality is halving is not a huge thing as much as people imagine it is. Let me break it down to numbers for you.

Right now, even the old machines that are now renewed in march with antminer s17, the s9's are still making a profit with around 7-8 thousand dollars cost of mining, that means at 10k, they are making a profit, considering nothing will change they will have half of what they used to make and that will drop it 5k profit or mainly 14-16k cost to mine, with some more machines rolling out it is easier to say it will be around 15-17k easily, however there are newer machines who can mine 1 bitcoin at 4k which means even the double cost would be 8k and that is STILL profitable at 10k. So to say that miners require at least double of this price is simply and mathematically wrong, there are miners who can profit to continue like this with no change in price even after halving.

These people didn't learn something with bitcoin, they're more focused on how it increase an impressive value. Bitcoin's character remains very interesting, but it's not good for the newbies because eventually they tend to be more stressed compared to old holders. They should start to value a very important aspect that could help them establish a good stand in order to manage their asset while market still in recovery as well.

Wrong thing for most people on where they do treat those pullbacks as dump situations. Actually 8% deduction on a single day isnt something new for this market but if you are
a complete newbie or just recently know about crypto market then you would really be get shocked but same as you said for those who have been here into this market will treat these movements
as a typical day price volatility.People do only expect that price do shoots up continuously without any corrections which is really a wrong perception because market doesnt work or move that way.

Exactly, at this time we need to relax as bitcoin is bullish in the sense that it's just going an uptrend direction but because bitcoin do bounce back after a dump, with the price now, we only need 100 usd for btc to be back in $10,000 again but I am confident it will rise close to $11,000 once it pump.

market is down/up, what matters is we are still here believing bitcoin will still rise and this year will be bullish.

I think there is not really all that much left in the tank for the sellers anymore, we will probably see no more corrections or maybe 1-2 might have been left but that's it, after that it will definitely be anyone's game. When the people who have a sell order in place or even sell order in their minds that they will sell after reaching a certain point, we get a combined and collective sell rush all of a sudden just as we go up and that causes the price go down, that is literally what happened in the past 2 months whenever we broke above 10k.

I think we are going to see something like 11k+ very soon. All we need is another push and some sort of breakable resistance in order to above without anyone selling to take their profits but continue for a little bit more than they usually do.

If bitcoin price can bounce to the higher price, we will see $11k. Sooner or later, we will see that price no matter if bitcoin price now still fluctuated, but when the right time arrives, the bitcoin price will start to increase again. I think we can still make a profit from these situations, as long as we can get the lower price and sell at a higher price because I see that the time to buy and sell at that price still available.

volatility isn't it mate?yeah things only coming back from the past though different value yet same movement,going up today but falling again tomorrow whats new?
and that is what i think we all need to do,specially us who's being here for long time and already seen same situation coming back again and again.
and all we need to have is trust and Guts with risk as well.

It's possible for us to earn on this current situations especially if we can enter on great positions and hit the perfect movement of bitcoins, But we shouldn't get hyped since possibly we can experience a huge pump and dump since the situation still unpredictable so best sell whenever we see a opportunity to move up and secure our profits. But if you can afford to risk your money for now then buy and hold to aim long term profits.

That is kinda the point of corrections, I mean when you go down that much you either go back up to a higher price than you initially were, or the people who caused the correction are right to sell and you go down. We either will go towards $11k+ price because now that people who sold around $10k levels are gone and sold their money so we can go beyond $11k+ a lot more easier than we tried last time, OR we gonna just keep going down because people are tired and out of money to keep try to get bitcoin to a higher price and reach around $8k or so levels.

Now, I do not see bitcoin go anything lower than $8k, that would be also idiotic from the people who end up selling under that price because we all know that is unsustainable price for the miners and eventually they will stop selling which will cause it to go up anyway so why would you sell it to begin with.

I do prefer up this way on where you should really sell up whenever you do saw an opportunity or gaining situation rather than looking for long term aspsects.
Why would wait if you can eventually get it on short possible of time?

Market had always been unpredictable thats why making conclusions  or analysis wont really be precise anytime.No matter how expert or pro you are in markets
but dealing with crypto are would be entirely different. Correction just because of 8% down? Same as others said this is jut like
a normal day here on crypto.

So far as corrections go, Bitcoin is a lead balloon that floats in mercury seemingly forever despite volatile elements.     When it kicks the bucket, its acts like millipede and we wait a hell of a long time for it to finish the momentum it had previously before declining properly and moving to the downside.    It must be some offset from being a global market, a normal market trades mainly in a large city and the price then propagates to the rest of the world, whereas BTC holds a committee meeting every 4 hours and 6 times a day where it may or may not get to decide properly on where the price is going to go.

  Seems we end up sideways or in cycle more often then not, then it sharply moves the way you suspected a dozen times previously and gave up 2 weeks ago on.    Its on a monthly average now which has been the low about 3 times in last 4 days.   If it can close below 9400 it'll be more certain, it has put in a 3rd lower high which gives small credence to bearish take I think.

The market has surely taken a dip at the moment and you can clearly conclude that this might be the last correction time before we the market starts to rise again with the upcoming bitcoin block halving. This is the perfect time to buy the dips and sell when the price of coins and tokens increases.

Still going down.
There is a lot of talk about the Bitcoin halving and there are huge expectations.

History proved that Bitcoin halving was the catalyst for the bullrun. Will it be the same this time?

If we can survive Coronavirus, then we will live to see it

It looks like the current price is quite normal. I think this reduction will not end until under $ 9,000. however, price reductions often occur at the end of the month, so this is normal. in addition, this proves that the price of bitcoin will not start from the price of $ 10,000 at the beginning of March 2020. I think, before halving, the price of bitcoin will rise again quickly.

The market conditions is base from how the traders and holders act, for believers it's always a good chance to buy while the value of the coin still  falling and wait for another bounce to sell it decent profits. We are unsure how this incoming halving will generate positive outcome for investors who chooses
to hold. Those who are really following this market have a high hope that it will bounce and bring bigger benefits to their investment.

now the OP is winning because the downfall is continuing and now we are at $9,100 level and seems bellowing to $9,000 as i am typing.

i will revoke my first comment and change it to Correction is at place now,maybe this is the last correction before halving and we can see at least better movement once it is done.
while we are asking not to fall under $9k but if this is correction then expect much lower than that.
still no one can tell,Volatility and manipulation is now the main reason of this price movements.(IMO)

well the price of bitcoin is currently falling very deep and indeed very suitable separately to buy bitcoin at a price when it falls but for now it has not been seen how bitcoin prices when halving occurs will rise or not I think no one can provide a guarantee so after you buy bitcoin at cheap prices like now and then you save it until halving occurs and pray that the price goes up.

Indeed, the market is currently in red status and a good timing to buy coins like btc and other popular alts.

So lets not take this dip negatively because its an opportunity to accumulate for those who dont have btc yet.

The correction we currently see is temporary plus halving is approaching hence be patient because good things will happen for this year (hopefully).

Corrections are completely natural I agree and a market needs it to be healthy,,, just see what happened when btc hit 20k without correcting. It went all the way down to 3k, and that hurt a lot of people. This is okay now. Staying at 10k several weeks and down to 9k. Remember, it can even go down to 4k, but that is the pure bottom in my eyes,,, long term always up!

Time to be positive again for today and a few days forward at least.    I think till next Monday consider a bullish bias perhaps, seems to be part of the wider market and maybe look at that also for some tone to moves possible.

I'd generally say we've bottomed out in terms of normal movement, we've come down a bit and generally BTC isnt moving a large amount also not in one direction.


10k to 9k is 10% correction so the OP has a correction and now it corrects itself :p

https://talkimg.com/images/2023/06/12/A9IoC.png


50 day moving average there is blue and marks our bottom pricing.  I've tightened my stops.

I beleive we are in a correction period but I wouldn't tell that this is something we should be worried about. Masne it's in contrary with expectations of many who after first price rise over 10000$ predicted strong growth but I would say that it's natural part of volatility.
Also, I don't expect some sharp price fall and price will continue to fluctuate. However, I don't expect that it might go under 8500$ in current situation.