Bitcoin Forum

I'm seeing with the way the waves has gone and the closing of last week and month, the price is going to drop taking off close to $4,000 from the current price. This maybe a major correction.

https://i.imgur.com/wSvgi5R.png

https://i.imgur.com/l4sX8nu.png

With this happening last week and market situation for the first day of the week and month, we may look the downside to $31,523

Bitcoin correction already done when it dunps down from 40k to 30k. Now its Time to gain some momentum and bullish. Feb will be a great pump for Btc. Wave will up. Soon pump will be seen

Dropping price of the bitcoin is normal and is part of pumping huge value so if the price dump next week it's better to buy more and hold and relax or no panic because you lose the opportunity. We have different see to the possible value in the next few years but if you think the price drops it's up to you but for me I saw the good movement will happen in this weeks and next few months comes.

Have been studying bitcoin movement since beginning of January have been studying the chart and I think Bitcoin might still dump more the first dump was from $40k to $31k but I think Bitcoin might still dump more I believe bitcoin price will definitely be below $30k before it will pump again.

If you look at the chart of the decline in bitcoin prices, it is normal, this is indeed a harvest day for traders, the average day-to-day rise and fall of bitcoin prices is approximately 10%. I have taken advantage of this close-up speculation several times. Buy low and sell at the top, the current rhythm of bitcoin prices is quite predictable, but if you look at it over a longer period of time, investing in Bitcoin will also remain positive for many reasons.

I would definitely make it as an opportunity and invest again yes I did it twice and make some good profit, when the price goes down people sell it in panic.

Ups and downs are the nature of market and this decline will surely give momentum in couple of days big whales are playing a major at this point of time when the price goes down they jump and buy if the market starts trending they sell it which means short-term investment has a tremendous impact on our holdings.

well if we observe the value of BTC over 5 years we can see that

• Dec 2017 - $19,650 highest in year and then in 2018 Jan value dropped to $8K
• Jan2018-$3.8K 

• Dec 2019 - $7000 and the increased to $8.4K in Jan2020
• Dec 2020 -$32000 and then went to ATH $40grands and the again back to $33000

one can easily understand the pattern here .

Back in 2017-2018, there was little to no institutional investors but right now it is different, the pattern at 2020-2021 is a little bit different, the peak of the prices was around the 15 of January of 2018 and then the prices dumped real hard but now the prices are not dumping that hard, there are ups and downs on the occasion but nothing too big as the 2018 dump. Back in December, I thought that the price pattern was going to be the same as 2018 but I was wrong, the halving did help with my wrongful predictions that the pattern will be repeated but I didn't factor in the recent increase in institutional and individual investors alike, not to mention that the pandemic displaced workers so they have to find some way to earn money and maybe some of them found bitcoin recently.

The problem is that numerical patters can be followed with infinite sequences, so we cannot conclude anything.

I hope the OP puts his money where his mouth is and bets short against bitcoin. For my part, I am not too concerned as I am going long.

Is the difference in price of just $4000 something worth discussing? We have had sharp declines and jumps for 20 days now, so even though some find it difficult to accept these differences - you have to get used to the fact that the market is very dynamic and Bitcoin is very volatile. It is quite normal for us to wake up tomorrow and the price will be over $40k, just as it would not be a surprise if that price is say $25k.

I don't understand why you call it "major correction", unless I misunderstood you, and you actually mean that the price of 1 BTC will only be $4000?

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palle11, if it is possible to adjust the image size, some users have very slow or limited internet and such large images make it difficult for them to browse the forum.

https://i.imgur.com/wSvgi5R.png

Historically, the month of February has always been a bad one of the crypto market. Prices usually plummet whenever it gets to this time of the year. In 2018, Price crashed from 19.7k high and ranged between $4K to $10K. We saw something similar in Feb 2020. The market was not volatile; only a few percentage moves here and there before the sell-offs in March. Historic events should be put into consideration as history tends to repeat itself.

Even if it will drop $10,000, I would still not be surprised because I've seen this many times.
We have enjoyed enough already, time for the market to correct and $4000 is not a major correction for me. |||

Bitcoin could drop below $30k or $20k, but everything should be called as normal, as FUD and FOMO are normal in the market that we belong.

For 40 years now , I have bought stocks in many different companies .
 I still look to see what the anylsts are thinking . Why bother to dig through all the financial stuff when they can do it for me .
Usually I choose a big name Like BRK.B or Bell , but in my searches I keep finding different experts ,even on the same day, but different websites , in 100% contradiction of which stock will be winners and which ones losers  .
So with that in mind I have zero confidence in any prediction as to BTC's future value .   

*market correction! of course, I'm used to it...
The last few weeks it's been happening and is a good thing to take advantage of. traders are sure to be happy with market corrections. suppose it is buying Bitcoin at a discount. *btw, please resize your image, it's very annoying

I am surprised that it had a 4% rise in the last 24 hour. I was expecting the price to go down and play between 25-30K and then go down and become 15K USD. I converted my bitcoins into USD and right now I'm waiting for it to fall, sell them when price was 39K, then did some trades when it was playing between 34-38K but don't want to play right now and mess with the things. I plan to wait for good loss or for a good chance where I'll be confident with the price changes to trade at a certain timeframe.

Btw why do you think that according to that chart price will fall? This chart has nothing to do with the price and its rotation isn't the deal. I don't know if you or anyone had success with that but personally I look at this like what our mind wants to imagine and how it wants to continue the unwritten future.

I'm not sure what that actually means that Bitcoin price will drop this week. Is this an announcement of some serious dump? Because corrections happen all the time and volatility is part of normal Bitcoin cycle.
Although many were thrilled to see such high Bitcoin price rise many are also eager to see some more significant correction to be able to afford to buy some.
So, I expect some slight corrections but so far haven't seen any analysis that would point to some significant dump in the next short period of time.

If there is a correction, I believed that it will not go far beyond $20k. It will always resist as per see, bitcoin has good investors, these are big names of industries and the institutional investors and I think that is the reason why it has a recent pump up in the market. Another is bitcoin was not a pump and dump, it is had, real investors.

However, how did you know that there is a massive correction ahead or we still don't know what will happen. Just listen to the news and it will I guess easily draw a conclusion.

According to my analysis from a medium timeframe perspective Bitcoin is staying right at a converging support between some EMAs, horizontals and a broken channel/wedge (however you want to call it). If the price breaks below $33k-$33.1k I'd look for a down move to around $31k, but the daily looks quite constructive. I won't be surprised if we make another sweep to the lows, but the probability is on the upside in my opinion.

Thread bookmarked-

I heard it first here, let's see if bitcoin would really dump, at the moment it still looks bullish and after a pump recently it was not able to rise back at $37k again, so if bitcoin dump $30k, it's very significant and might cause further dump again.

I hope time will pass and you will come back here to tell how much you have earned from this pattern  ;)
Do you really believe that the pattern/analogy found in history should be repeated in the future? In my opinion, this is a dangerous delusion and I would not risk my money to verify its truth.

Isn't it normal?

In the past, we have seen a huge price reduction now look at where we are now.
In as much as many may dislike it, we need the price reduction for market correction.
All we hope not to see is impulse selling from those who panic of loss.

31k is normal, 20k is worth talking about mostly because it can be the bottom price and thats the main attraction in any bearish trend it can suddenly swing up like that Elon tweet which is something and nothing but in any case there is a pull and tug of war between bulls and bears that swing back and forth.    I guess 4k in one week is worth noting but since we have no great certainty I dont count it as special particularly.

It seems like the pattern is almost just the same but the price range is different this time. I'm starting to wonder if Bitcoin would be able to pump beyond $40k within this year or this will just continue to drop slowly in no time back to $20k?

Well, what can I say? Since most of the time that's what is actually happening in the past but their difference is the price range. Sooner or later we might get back to the bearish trend that would hit $10k back again.

And the fact that we have not seen the 30k level after more than a decade of btc in the market, is already great achievement in my opinion. Sustaining the 30k+ price level this long is really good signal that maybe we are already good in adoption and the institutions that put their money on this, believe the capability of bitcoin. So even dropping to 20-25k level is still acceptable. But of course it is not for those who recently bought their btc.

For every seller there is a buyer, one thing I've noticed in the last 24 hours is that $35k is being rejected several times already. This is very important as this is the next hurdle to $38k regardless if there is a Elon Musk tweet or not.

I'm not saying that we officially enter the bearish trend, but I agree that the chart doesn't look favourable. We might settle to $33k again if bulls and bears keeps playing the tug of war. So let's wait and see if we can finally break $35k otherwise we might see some pullback again.

If based on technical analysis I agree that there will be a decline in Bitcoin prices this week, maybe we will see Bitcoin price around $ 30k- $ 31k
this week. I will not be surprised and panicked if this happens, maybe if it is true that the price of Bitcoin returns to the price of $ 30k I will buy
more Bitcoin. Because I am optimistic that Bitcoin will recover very quickly and its price can rise again quickly. So buying Bitcoin for $ 30k is
a great thing to do.

I think as a good trader that trades the crypto currency market steadily and consistently; nothing should surprise you at all because i believe traders should expect everything from the market; so seeing a drop should not bother you; be ready to milk the market either in a bear run or a bull run. Take profits and always do your own research

That's exactly what people keep forgetting every cycle when retracement happens. BTC never going down below $1000 was a HUGE achievement in less than 8 years. And then now if BTC never goes below $20k again is actually such a crazy outcome but people psychologically think now of $41k ATH. Such unrealistic expectations:)

This is not surprising and also this is not first time to happen and for this scenarios that might possibly came it's indicator for trader that they should not be greedy and always take their profits once they see a good exit point,  and it's so un relevant to believe on those continues bull run since at this point seems market is pretty much doing a average movement compare on past couple of months.

That is the reason why bitcoin doesn't fall too much, because there are many people who think like you. I believe that bitcoin price will not go under $30k too much, even if it drops just a bit (like 28-29 thousand dollars) it will go back up very quickly, because everyone believes that bitcoin will go up in the long term so whenever the price goes down they end up buying more and more of it and that is why I think it is never going to drop too much.

For this to end up going down way too much, it would require for the price to go down so much and have a huge crash all of a sudden and that requires some people with a lot of bitcoin to end up selling it all at once, and no chart or indicator can know that, people selling 30k+ bitcoins all at once is not something you can predict. Hence charts can show whatever they want but something charts wrong about will happen either way.

I spoke too soon though, it seems that $35k has been broken in the last 4 hours or so, candle looks very green. It's critical that we start the month with the green candle so that the bullish sentiments are going to continue and this is what we are seeing right now.

So far we are good, if we continue with this trend then the next barrier of $38k will be reach or surpassed so it's a healthy sign. And maybe the period of consolidation, (full three weeks) is over and we might see a break out run.

I true Bitcoin trader is never surprised to see the Bitcoin price going down.This is completely normal for a volatile asset.Only the newbie traders get surprised,when a price drop happens.
The BTC price dropping from 34K USD to 31K USD is not a big deal and there's no reason to post your "analysis" for such a minor change.
February isn't a good month for Bitcoin,so I'm just HODLing and waiting for the end of 2021.I don't care about the current price at all.You shouldn't care about the BTC price as well. ;D

I hope I will not surprise if the bitcoin price drops this week, but before the bitcoin price drops, I wish the price can break $38k or even $40k, so the price can adjust to the low price. The trend for bitcoin price now looks good, and the green candle is back to bitcoin price, so I guess this week we can have a chance to see another new highest price.

If the price drops this week somehow, we should prepare our money to buy back bitcoin because that will be the best time to buy more bitcoin. We can set the alarm to sell our bitcoin or placing an order sell at the next highest price, so we are not late to take profit.

Translating OP, “Don’t be surprised to see another opportunity to buy the dip this week.”

https://pbs.twimg.com/media/EswHXSJXEAA-Q9Z?format=png&name=4096x4096

Thank you for the reminder OP, but I believe I am HOLDLing comfortably with what I currently have. But I believe some people might be looking for a good entry. Keep the reminder bumped, and visible. 8)

It's good if the price goes down to that level, it's an opportunity for another round of accumulation but I doubt if this week we are going to see the price at $30k the momentum is still high it stabilizing at $35000 right now, I have a feeling it will stay that way for the whole month of February, let's see how things will play out this month every month offers a good surprise for all of us.

Fortunately price didn't went down much, we had a pump and that dropped but it was a drop from the pump hence wasn't really a dump, in fact it was a good increase when you look at what happened last week. We were at around 28-29k levels for a while, it didn't stay there for too long but it did reached there so I could say that it was definitely a risky move last week, this week we are living at around 35-36k range and that is a great thing for bitcoin.

I personally feel like we are going to break over 40k next week as well, we just need one more bull run to reach there, last bull run started from 31k and peaked at 38k and now this bull run would start from 36k and will definitely hit over 40k if it happens but of course its "if" it happens.

Fortunately for you, is unfortunate for others who were waiting for another good opportunity to buy and be in a comfortable position. We might not see Bitcoin trading under $30,000 again, and I believe the next dips might be the last buying opportunities before $50,000. 8)

Looks like your prediction is wrong.

We still have 2 days to end the week though but Bitcoin is at around $37,992.36 base on CMC. This week has been a good week for crypto especially for Ethereum which hit its new ATH. I will not be surprised if BTC will drop in the next 2 days but that will be 2 huge red candles on the chart if it will really happen. OP's price prediction might not be touched this week but in the next weeks, it is possible that it will be touched.

What surprises me the most is how many people still wish for the price to drop and mask it as speculation! Some even take one step further and place a lot of shorts and end up losing a ton of money for their mistake. At least those who are just hoping for the drop to buy in aren't losing money just opportunity.

Currently sitting at $37.9k...

I agree with those who said that the prediction is wrong. But we are still not yet at the weekend. Some of the major price changes and fluctuations happen at the weekend. I know some people who have been trying to stay away from trading during the weekends just because it's too hard to predict. Let's just see what happens in a couple of days.

During weekend, the market is relatively calm, with just occasional dump, perhaps investors are taking money to take a off with their family. It's not that hard to predict, but sometimes the market need to take a rest as well during weekend. As for the prediction that bitcoin will drop, just shows that it is really unpredictable even with the help of TA.

As we have said before, people who shorts in a bull run will get REKT.

It has been proven already so we really don't know why they continue to go against the sentiments of most traders. And now the market has a good bounce after the Elon Musk tweet, it looks like this is going to be the natural path of bitcoin this February.


$38,0k'ish now. Edit: $38,4xx.

Elon Musk is not the sole reason why bitcoin and other coins are high, we are talking about billions of dollars in investment that purchased so many different coins, elon musk certainly played a role but I think we are in a bull market and that is one of the main reasons why we are higher.

Think about it this way, if we were crashing, like we were under 25k and price was going down like crazy, elon musk could share "I am buying a lot of bitcoin and I suggest you to do the same!!!" type of thing that will make SEC boil with fury, it still wouldn't change, why? Because, price is going down like crazy so why would people buy just because Elon musk said. So why did it go up now? Because, Elon musk did say it during a bull run, sure he did played a role but we were doing very well before he tweeted as well, not like we were crashing so we were quite fine.

Large falls are not uncommon for Bitcoin. But all this is temporary. With the growth of Bitcoin, the number of those who want to buy it grows, which cannot but influence the market and reduce the volatility of the coin price. Large corporations and institutional investors feel the danger of real inflation and are trying to protect themselves.

BTC keep bouncing from $30K price point, I don't think it's gonna go down that easily within few days not to mention there's many people willing to buy the dip seeing the demand in various exchange.
Honestly, bitcoin is harder to go down due to the institutional investor, they won't just let btc go down the drain in a flash, in worst case if that's happening it's gonna go up again very shortly but that just my opinion.

We are closing to Weekend now and if this is what you are pointing to be the Dropping time then i'll watch very tight now ? thanks for the HeadsUp.
this is still on the stronger position up to Know.

https://coinmarketcap.com/currencies/bitcoin/

Valuing 37,000$ and still so maybe now we are looking for at least 5,000 fall down this week?

Well, it seems the price is going on the opposite side right now, yet the week is almost over so I think the prediction might be wrong. Unless there will be a big sell-off gonna happen which seems impossible. Bitcoin is now currently playing around $37k and still growing. There might be some correction gonna happen but I don't think this will be the major one. Besides, even if Bitcoin makes a dip it will be just for a while as we have strong backups which are the large institution is on our side. Truly that the market doesn't always work on our side even with the help of TA, anyway are still few days left, let's see what's gonna happen.

Are you sure you predict the weekly price of bitcoin using 1 hour time frame? I don't think it will be suitable. The low time frame can be manipulated easily but higher time frame like 1D or weekly time frame cannot be manipulated. At least you have to use 4 hours or 1 day time frame to predict the weekly price of bitcoin. Have you seen the weekly price movement ( candle)? I suggest to look it first and to me there is a reason to repute your analyst.

The weekly candle is still green and indeed there is an indicator that will be formed to be double top pattern. But, it will be a different scenario if bitcoin price able to passed $40.000 barrier, we will se a huge pump for bitcoin. I believe the $40.000 barrier can be passed since there are so many good news in the crypto market, also the stimulus issue from US government still widely open to be taken out so the sentiment marker will not change and that one indicator bitcoin price increase more than $40.000.

That buying the dip is making the dip not even happen anymore. What I mean by that is the fact that there are tons of people who invest into bitcoin with even the smallest drops that price doesn't go down where it was aiming at and the bottom never happens or at least changes. For example let's say price is at 37k right now, and it is going down, if nothing major changes it will go down to 28k, but during that period some people see it at 33k and decide to all buy together at around same time, what happens?

Price was going down to 28k but at 33k it was cut short and stopped going down because new people who were willing to buy came out and bought bitcoin making 33k the new bottom and not 28k, that is what is going on right now, and that is what people are aiming at as well. I hope that we continue like this because it allows the price to keep staying higher and higher.

I don't see anything surprising in this.
I think it annoys you only because it contradicts the "buy and hold" concept. But in fact, a lot of people have doubled, tripled and even tenfold their number of bitcoins by selling on hype and buying back on the dump. This strategy has worked many times and may well work in the future.

Predictions can be wrong or right. I'd never expect for huge correction as well because the market demand is consistently pushing the price to go forward, no big sell-off is happening but more on buying. Institutional investors keep accumulating Bitcoin and this is a huge factor that we can never see the market drop as what OP thinking about.

There is nothing wrong in changing the concept according to the market situation, ultimately the profit you make counts and buying and holding for the long term is the general concept everyone follows and during a bull run when the price moves around a range until the next resistance is broken some tend to book their profit and wait for the correction to buy back and the only time that will doom this method is when the resistance is broken after you book the profit  :D.

Those bolded statement is true as well. Just imagine selling at the top @41k and then buying at the dip @29k sure we can make money on that strategy. So yes definitely it will work as long as you really know what you are doing or at least is willing to take that risk.

Someone advice me to do that, but no, I didn't sell at the top @41k not because I don't want to make money, but I don't want to complicate things on my end, so HODL concept is better at it fits my goal. But it depends though, perhaps majority is doing the "selling at the top and buying at the dip" concept.

The correction happening was just a slight behavior, we could expect more frequency to occur in the next few weeks. Recovery is too fast compared to the declining situations, because many folks also waited for a good opportunity because btc value would rise after sudden dump.

This week Bitcoin has risen above $ 38k, and it will make the bears lose, don't misread the mate candle,
because the bullish candle will not be very helpful, it's better to read TA with indicators and resistance support,
because the bull flag was already formed on the chart. Bitcoin-USD, and the fact that 90% bull flag is successful,
hold on the spot market, because it will be  free liquidation  ;D

I think they're just trying to rationalize their misguided belief that Bitcoin is somehow like the stock market and can be predicted by TA.

It's mostly noob behavior. After they've ridden the roller coaster a few times, they smarten up, quit tarding, accumulate Bitcoin and hodl.

I have seen how many dropping just this january so i always expected this but since i have no plans in selling anytime soon , so it doesn't bother me anyway .
and besides we will be having much of this as we are trying to extend the ATH to 50,000$ .
But this must not affect our trust and Holding . let those panicking do their Homework but let us stay on our positions.

Thanks to Elon Mush it might not happen

At first, I thought that the Bitcoin price will be falling under $20K since it is really closing to go outside $30K but then Elon Musk tweeted the #Bitcoin, and right now we are again closing to $40K. It is just amazing how a simple hashtag could change the price in the market and other people think the whales are manipulating the market.

Many people predict Bitcoin in price this week will fall, even though in fact today Bitcoin managed to go up to a price of $ 39k. So it is
very fortunate  that they remain HODL Bitcoin until now and do not trust the FUD that is widely circulating regarding Bitcoin. I believe
that looking at he movement of Bitcoin now, Bitcoin price will soon return to its ATH price of $ 41,900. There's even a chance Bitcoin will
hit a price of $ 50k this month, so my advice is to HODL Bitcoin if you really want to get a big profit.

The reason why people were bearish at the end of the month is because it painted a horrible looking candle on the monthly chart. When we were at $30K last week it had a horrible looking pin and it definately looked like the $42K was the top. However since we closed at $33K and the open price was $29K, a large potion (almost 40% ) or so of the candle is filled, hence it looks bearish but not that bearish.

I think the most important candle is the following month which is Feb. I think if we close under the $29K open which is the yearly open, then I would say with confidence that $42K was the top. Basically it seems like a repeat of 2017, where BTC rallies, then ETH rallies, and then its alt coins, except this year its more like Doge and all the DeFI tokens. Either way, its still too early to tell, we almost hit $40K so we might break $42K this weekend even.

They’re called “pleb-day-traders”. Their behavior is actually encouraged by the “whalecumulators”, the exchanges, and others who can get what they want most from the plebs. Their Bitcoins.

Personally, everyone should be wishing for a mini-crash to bid for a lower entry price. Bitcoin might not be half of its path to price discovery for this cycle.

https://pbs.twimg.com/media/EtdKqTDXEAEeCDI?format=png&name=4096x4096

Those years you mentioned were not significantly post Bitcoin halving years and as such couldn't see demand surge. 2017 was a post halving year and we saw what happened in February of that year. 2021 is also a post halving year. We don't expect any dump this February. Of course, there could be corrections but certainly not dumps. And definitely, not even at this time that institutions are showing huge interest in Bitcoin. Already the price has blown past $40,000 today. We can see $60,000 before the end of February, hopefully.

in fact, it's the other way around as bitcoin gets back to $40k by the end of this week, the bull has back by pushing above the upper angle of a descending triangle and may reach even higher up to $45k by next week and we're expecting $50k-$60k in this month. The market indicates a strong buy at the moment re-approach the ATH price at $42k as the next resistance to watch. Furthermore, the RSI in the bullish preference as it rises above 60 but still has room to continue before becoming overextended.

now the price of bitcoin has reached $ 40K and the increase that occurred in bitcoin is of course not only influenced by tweets made by Elon Musk but basically nowadays many people are starting to switch to investing in cryptocurrencies, especially bitcoin so that there is a surge in market offerings and finally an impact on the increase in bitcoin prices, because in my opinion the positive trend that has occurred in Bitcoin recently is influenced by the liquidity currently occurring in a market where many investors buy bitcoin as their investment asset.

when op post this im not thinking that the price will fall but if it will fall i  wont be surprise  .
 what surprises me this week is when the price starts increasing again because i thought btc will remain stable for a few weeks and months but now that the increase finally happen ,
 im now thinking that the prediction of the op will start to take effect and that will start i guess by the next week starting this incoming monday .

Seems like the opposite, happened. But that's no big deal. The market is just unpredictable in the first place which is why I do wonder why many people are making absurd opinion, such as its market value will be below $20k or its price will be $100k. Can we just let this market move? There are many discussions having the same topic and I know most of the people who are making such topic are well aware that there's no consistency with the market price of cryptos and speculations are just guess.
It have started already. But conclusion is just hard to make, the market is just playing ups and downs.

Assuming some cautious margin trading shenanigans, the profits from speculation can be huge. However, as far as I know, this growth ruined a huge number of bears (and possibly will ruin them again), so I also prefer calm strategies without risk. Holding an asset is the most correct thing to do.

I'm literally surprised right now because the market turns into opposite and Bitcoin just made its new all time high, it seems like the whole market is totally unpredictable despite of all the indicators that we're using to analyze the price trend. Bitcoin is good in the past week and I guess we are still heading for a new all time high in the coming weeks, so let's keep watching.

So now BTC is trading at above $40k. I am glad you were wrong. These charts never give any accurate info and if they are not accurate, why trust them?.
I don't trade much but whenever I do, I trust my intuition only and most of the time it is right.

Quite the opposite for me. The cryptocurrency market has been looking bullish for several months now. The fact that there are corrections and the price temporarily drops is perfectly normal. I think that we will see such a situation and further price increases for at least six months.

I never be surprised if the Bitcoin price drop because this is so natural, every coin drop, and I don't care it.. If drop it's a good time to buy. Because Im focus in long term rather than the short term so drop price is a chance for me

Everyone should buy in dip and hold

Oh, man! You really did miss out, didn't you?
What are your forecasts for next week (so I can do just the opposite)?  ;D

Nice comment, exactly what I am thinking! To be honest I am not sure am I surprised with this bounce back or not, but it's happened! It's very hard for me to predict anything this day, I am jumping out of tracks often the last two weeks, but at least it's luck when the price bounce back, I can sell and start all over!
Looks like this year will be very interesting for all of us! With many turns, and for sure some turns will be a surprise for many!

I agree. HODLING seems to be the best tactic for now.
I only have a small portion of my stock at the exchange and trying swing trading to increase my stock.

As has happened several times in the past month, and it may happen several more times before we can keep the price above $40 000. Simply at the moment this price is not sustainable because most large investors are no longer putting a lot of pressure on the market, while on the other hand they generally do not sell what they bought in recent months (of course there are exceptions).

The year has started great in terms of price, and certainly for all those who trade on the principle of "buy low, sell high" these regular price changes in the range of more than $10 000 are great for regular profit making.

Bitcoin has not come to this stage in a day.  Those of us who save bitcoin must be patient.  Price: Falling and rising is a common thing in Bitcoin.  You don't have to be frustrated when prices fall.  Even if the temporary price decreases, the price of Bitcoin will increase again.  For this we have to wait patiently.

Market trend changes at all times, it is often to see its unstable situation and this is not surprising or shocking anyway. But despite these unchangeable market behavior, we are still able to hold and keep our faith, it can be soon good after troubling days.

But this time, we are still in good shape. We think about drops after hitting ATH but there is nothing shows like that, we eventually made a stable at $30k to $40k. I'm not thinking bad or any negative insights but we can't hold also if the market price will dump someday.

That is basically the proof that you shouldn't base your decision on the charts alone, sure they are great and all but you shouldn't base it on them only and forget about everything else, you should point a situation where everything else is included. Something that we do not expect at all and shocking could happen tomorrow, maybe Elon Musk will come out and say that he is selling 10% of all his shares and buying bitcoin and doge with it? Can you guarantee that it won't happen?

Of course it sounds silly but as long as there is no %100 guarantee that it won't happen, we have to put that in. Or maybe some whale like grayscale who has 500k+ bitcoins comes out and sells all theirs? These are of course extreme examples but I just wanted to point out that Charts can't predict these things, and of course there are many smaller things it can't predict.

There was no indicators in that chart, the OP's prediction was based on the price action from the past week that doesn't show anything to provide an accurate information about the future price. Crypto market remains unpredictable no matter how good you are with technical analysis or any kind of market analysis.
ATH is within the reach, anytime soon Btc might be hover around the $40,000. It seems that Btc is slowly making an upward movement crawling it's way to $100,000.

Bitcoin moved precisely the opposite. These graphs are the perfect example of why I don't believe in technical analysis for crypto, and I follow mainly my gut.

Trade cautiously and HODL most of your coins!

The problem with tracking the actions of large investors is that they carry out OTC transactions and we cannot know what the real volumes of purchases are at those levels. I am sure that even the blockchain cannot help in this, since most likely they are not selling the bitcoins themselves, but the rights to them.

Don't make yourself worry about these OTC transactions as we won't know it.
But scalping these days, is really good. Those who know how to strategize can make good amount of money at short period of time.
Let us be grateful that bitcoin is above 30k now, only this year that we experience this price level.
Even if there is drop from time to time, still it goes above 30k, which is very nice for bitcoin market.

I don’t quite understand what you’re talking about - I don’t know of a single scalper who would not go broke over a long distance (from a thousand transactions). Any sudden movement will instantly kill their deposit. Considering the traditionally high volatility of the crypto market, they have nothing to do here (except to tickle their nerves, but this can be done in a casino as well).

Technicals might not be precised because of this very unpredictable market but doesnt mean that they are totally useless.This had been a pretty common analysis
that traders been using it might not really be perfect but somewhat this is much better than on making out decisions without any basis.

Trusting your own gut and intuition might do but doesnt mean that it would really be reliable from time to time.Drops and corrections are part of this market.

We cant just see a market that will continue to rise up without any stopping or consolidation. Always expect for situations like these.

Combination of Guts and Technical analysis will save you from losses, yeah our Gut and Instinct sometimes are enough but what more if this will combined with TA? does this will make more difference?
Depend on which coin ,because if this is a SHitty coin then there is no reason why need to HODL? when the coins is intended for fast trading.

The BTC price does not seem to drop any time soon. Of course, I do not take into account the slight corrections that are normal on every financial market. I think that in the coming days, and maybe even weeks, we will see only an increase in the BTC price.

Let's enjoy it while it's still pumping, soon, correction will come and price will dump. We have seen some minor correction, I thought that was it but it was only to make bitcoin stronger to pump to a higher price. We have achieved a new ATH this week, next stop should be $50k.

Well, maybe enjoying this increase is better than thinking about when the price will go down. many people think that a decline will occur in the near future. however, when investors like Elon Musk came along, prices got back up. Well, things like this were unexpected, and to be honest I was surprised to see the price go up again.

I think $50k is just the beginning of the journey;)
I just hope that the price will not shoot up very quickly, because then also the corrections can be very sharp and will create panic. A steady slow growth over several months would be best.

Sometimes they are correct but most of the time they are not, I still prefer the news coming into technical analysis, technical analysis cannot see or predict pumps created by groups and news coming in that can add motivation for investors to pump Bitcoin, but I don't discourage OP to stop doing analysis if you are making a profit from doing an analysis.

Yeah right, if you find yourself gaining from how you work with your analysis best to continue enhancing it and make a mych better outcome, executing your position is very important.

It's your own decision making base to whatever patterns you decided to follow, as long as you are following the track correctly and
you are willing to take every risk that accompanied by the assumptions that you've made. Trust yourself and those factors that influences
the market, keep motivating yourself in finding the right path to much successful journey.

Probably our predictions were too positive. The price increase is weaker and lower and the decrease is more frequent. I think that we will have to wait a bit longer than we thought to exceed the level of $50k.  ::)  :-X

Because the truth is that we can't just slip into the chart and exactly predicting what will happen next, it eventually changing every time. It is much better to rely on our guts and common instinct which most traders never use but instead of using this tool (charts and a candlestick).

Just HOLD, don't trade, maybe this is the best option. Because it sounds like the market is preparing for a continuous rally, we can't just double, triple our money, but is possible to x5, or at x10.

It wont really be a smooth ride and i do see that this is just like the same when we are trying to break out 30k in past month as i remember where it did really have some several or couple of
price breach rejections which i can definitely say that we would possibly saw the same scenario.

For dropping price or correction then this isnt something that people should be surprised on.Price now is gradually decreasing at the moment we do speak where we are playing around 47k-45k and this
could possibly go even more lower.
There are strong support on 40k level though but i doubt that it would hold up strong if the market tends to correct.

I do not think technical analysis can only help us predict the price of Bitcoin, but we should always follow the news, especially the major investors around the world!!.
 As we all know that buy and sell orders are the influences on a currency's price path, and these orders have an intimate relationship with the feelings of traders and investors. !!!And in order to be able to be accurate in our analyses, we must know what are the feelings of others?

My optimism has cooled down a lot, but I'm not so negative as to think of a drop below $40k. I think your proposition of a scenario where the price will be dncing between $42k- $47k for a while is very likely.

You know what?? Bitcoin is unpredicted, Based on the chart you say waves has gone, but new waves from tesla has come and made Bitcoin price make a new ATH. People keep trying to predict the price of Bitcoin based on charts, Yes this is good but I always keep in my mind that no one can predict it right.

Chart or no chart any spike this high always is followed by a dip whether little or big.  Nothing is linear in any market especially bitcoin.  I have been adverse to TA in the past because crypto TA is guesswork to some extent. (At least much more than stonks) but there is definately merit to it i guess to some degree

Speculation is guess work and technical analysis and chart work done is with the help of past performance and most likely scenarios and bitcoin does not have a big chart to study like the stock market. I am also expecting a correction but no idea when.

Majority of the market spiked a lot in the past few months and the spike was exceptionally high than i expected and majority might be in that category especially some coins which i though were shit coins :'(.

It is not that easy to actually build a strategy, and it takes months and maybe even years before you can say that you have the "perfect" one that always brings you profit, obviously even a perfect one could end up losing money considering unexpected things could happen in crypto, but at least it brings you profit in the long term.

However one thing I am certain about is that even after having that perfect strategy, it is not easy to actually end up following it because people do get emotional when trading and they end up seeing something that they didn't expected at all and this causes them to actually be shocked about it and they act or react to it and that is when they leave all their strategy behind and they end up working hard to recover from that for months. This is why I think we should not forget that bitcoin is not here to fend your emotions, you have to do that yourself, no matter how hard it is.

Dropping price is natural and only people who have a weak mentality will be surprised. I have bitcoin and keep hold it. I don't care if the price drop because I hold the safest asset. If I have huge capital I will buyback and keep hold it. Bitcoin is financial freedom and this is I like it

The correction will tend to initiate this month but with minimal progression. As you see on the chart, dominance is more high compared with resistance so lets expect more demand to come. Traders who do short and quick trades would always benefit a good profit one its done in a right way. Avoiding wrong moves is a good action, because we need to hit the right path before success comes.

There seems to be strong resistance around 50K level. A lot of the long-term traders have set their target at 49-50K and will be selling a part of their holdings once that target is achieved. And this will create excess supply in the market, at least for the short term. We need to remember that the 20K level also took a long time to breach (3-4 weeks), for the same reason.

As this point, I don't know anymore if that resistance is still hard to break, it's confirm bull run, we are experiencing and enjoying it (don't know for some), so we should think bullish as well and that $50k might be broken soon. The drop has not happen yet, bitcoin seems to be turning crazy this year too as there's no sign of it dumping or correcting hard.

I always loved the saying "success is preparation meet luck" and that is always true in almost everything in life including trading as well.

If you want to make profit from trading, you need to learn how to be a great trader that is true, but you need to be lucky a bit as well, nobody that gets zero luck would make money like a robot, that is why many trading bots do not create wealthy people neither, if only TA was enough, people would build trading bots with TA inputs (which exists already) and leave it be and make endless amount of profit, since they fail to do that it is going to be a bit harder to actually profit from it as well.

Not impossible to make profit like that, you could always get lucky as well, but you need to both have luck (just luck is not enough for long term neither) but you need to be ready for it and there as well in order to profit.

We cant just really ignore the fact that market wont really just pump like forever.There would be always a selling point or huge correction but it seems that it is really likely to stay into these levels for a while now.

Trying to break out that 50k resistance is the main target as of this moment and its high likely to be seen for this year but who knows if we do have some major correction and might stay up again neither on 20-30k.

So the best thing to do is to utilize these movement for your own advantage. Secure profits while you can and then save up the rest for long term so that it wont really hurt that much
when there are some price drops.

Look for a drop if we can break this trend along with current short term momentum.  It would revise all the prices around the Tesla price gain which is probably going to occur anyway at some point.

https://talkimg.com/images/2023/06/12/ArdJ3.png

I heard someone mentioned a double holiday both in China and USA two of the big markets for BTC and that might allow a different price to occur.   Im never sure if low volume can help higher prices also though.

I have checked from the past that February as a month usually have some sort of price drops, this happened in 2018, 2019 and equally happened in 2020 which brought about the price of Bitcoin down, so, for us to have a plummet in Bitcoin price soon (especially this month of February) the better it will be for us to buy from the dips.

I think that the impact on the market by the information about the investment in bitcoin by Elon Musk had is not over yet. Big players cannot react with the speed of traders; they need time to make a decision. If they follow his example (at least some of them), then we will not see any correction in the near future.

We don't have Elon Musk back February and Bitcoin last year is preparing for reduction of it's mining, so it's totally different from last year to this year, and will be different from now on because of the institutions coming in the market, each month and each year now offer a different scenario and perspective.

In fact, for highly volatile assets like Bitcoin, it is very natural for the price to suddenly drop. But this year there is a lot of positive news about Bitcoin,
so the Bitcoin price continues to be bullish. Therefore I doubt Bitcoin will fall in price, even now Bitcoin is very stable its price is always above
the support price of $ 45k. My prediction is that Bitcoin next week should go up to $ 50k.

There's always speculation about price drop because investors are used to seeing a price drop even if there is a price drop it will not be beyond 10% the market is having a good trend since January and will continue to be so as long as there are much good news coming, I hope Elon continues to support and shill coins, good coins like Bitcoin and Ethereum more Dogecoin is good I made a small profit.

Many people predicating to see a dump in the market in February but contrary to that, bitcoin and altcoins are not dumping. I think we may see an extended bull market period without a significant correction. This is due to a lot of positive sentiments in the market and i think this time is different.

I wouldn't say or see this an extended rally, in fact if we hit $50k, then it could just be the start as for sure many will fomo on the market again because we are now looking at $100k at the next target for this bull run. But don't let be fool, just use our common sense, the price could go down anytime but it doesn't mean that we should sell, take that as an opportunity to get more BTC in our wallet and hold.

$100k will be for real, however, from $50k to $100k in this bull cycle? I think that is too much IMO. Anyway, some crazy stuffs are happening right now, even if I will think that it's unlikely to happen, I could still be wrong, so continue this bull run and let's see what's the ceiling and how hard the price will fall.

If you are an old-timer in the market and you have seen it all, there's nothing to be surprised about anymore, it's natural it needs to happen and we should accept it. it's not always a good ride, and sometimes it benefits us when there is a drop, it's another opportunity to buy, so if there is one coming I'm on it.

Grab the iron while it hot! That the most exact phrase I am looking forward once there's an opportunity to buy during market downturns. We should be smart enough to decide this time, and don't be deceived with some speculations that has no facts. Always look upon the chart trend and analyze briefly in order to prevent potential panic.

If you do this ticker BITSTAMP:BTCUSD/FRED:M1*6584 (This is a compensating bitcoin money supply M1.) You can see that in '17 bitcoin was worth 35k. There is still potential for growth. I plotted the approximate resistance, and it turns out that $52 - $110k per bitcoin is the current resistance.
https://www.tradingview.com/x/jFkECmF2/

Sell while you can and buy when theres opportunity and people should really be having this kind of mentality because we dont know on what would happen next into this market.
Getting surprised of drops? then get used to it because anytime soon we would really experiencing this stuff.For now the price do held up strong in 48k and we are  trying to breach out
50k price. Traders or smart investors would really took action varying or depending on the opportunity that they can see into their front.Dont miss out while you are still aware.
Each prediction and analysis might not be precise but at least you can have some basis.

Great chart Walt, we never consider the Dollar of 2021 is nothing the same as the Dollar of 2019 and it will alter prices that should be expected for the same value, naturally we do rise over time to compensate for the new dollar supply.   Its a known effect but also usually unaccounted for.
  Price right now is the same peak as on the day of the Tesla buy news and also at the 2 day average, its been sideways since then and so Im not sure if we fall or not.

The chart is very optimistic, but there are no corrections on it. It is possible that the Bitcoin price will remain in an uptrend up to $100k, but there may be a large correction at any time and the period in which the $100k will be achieved will extend to several weeks or months.

wow what the heck really ? that can be true that there are no corrections incoming if the chart looks pretty good but on the other hand its also possible that chart is only faking it for us to not suspect for a correction but we are just going to be surprised when it happens .

this is what im talking to earlier that there could also be a correction that will occur but thats reasonable if our journey to 100k will be delayed because 100k isnt small that it will hit in an instant but it can take lots of struggles

 ??? Do I see well that you split my sentence and made two completely different comments to it? Very creative!  ;D
But I am glad that you confirmed my words at the end of your comment  :)

So yes, $100k is not a small price and there will be corrections for sure. 8)

You are waiting for some blind spot to satisfy take profit and buy :)) I am afraid that bitcoin price will continue to go up diagonal.  Because what might continue for this support trend has not stopped.  Make sure to make that point of view, I have impact information here.
 https://cryptopotato.com/worlds-largest-asset-manager-blackrock-confirms-theyre-looking-into-bitcoin/ (https://cryptopotato.com/worlds-largest-asset-manager-blackrock-confirms-theyre-looking-into-bitcoin/)

 https://u.today/worlds-first-bitcoin-etf-just-launched (https://u.today/worlds-first-bitcoin-etf-just-launched)

Dollar devalued like crazy in the past 1.5 years, it wasn't that amazingly strong in 2019 neither actually, we should take a look at around late 2017 and early 2018 and we can say that it wasn't that bad at all, and now about 3 years later or so, it is doing much much worse. This has always been the case whenever there is a big major problem in the nation, this was even global and worldwide and not just in USA neither so it affected even more, remember 2008? Dollar devalued like crazy after that too, and this was horrible too.

Basically since dollar price devalued like hell, the price of bitcoin increased so much easier, when the thing you are pegged to drops that much, there is really to that much you can lose from bitcoin. I believe we are going to see even higher prices on bitcoin when this new set of stimulus takes into full affect in the markets.

Hi guys,

Although a correction is very likely and normal, I think that for now it is a bit far away, I always like to see and analyze the market through tensorcharts.com, because it gives me real-time information on the volume and the green means purchases and the red means sales. , not only represents negotiation, and by observing we can appreciate:

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

The analysis is at Days to give me a daily idea of the behavior, and the volume is in green, even if at this moment prices are being placed in orders, because to buy it is necessary for another or others to sell, but the volume represents in these Buying moments, and it's not bad, when we see the delta they are currently for sale at around 3852.30BTC, and there are sales orders at $ 54870.3.

If a temporary change is made, more volatile behavior can be seen and with many more sales orders. The buying force is impressive and I think this is very positive.

When looking at the shorts in tradingview, you can see that they are only opening a minimum, that for me means that there is no presence of bears wanting to lower the price.

https://i.imgur.com/nE14cN4.png

For now this is how I see the market, it is my personal analysis regarding the issue of expecting a drop.

To me, all this cluster analysis is 50/50.
But if you make money with it and it helps you. I'd be happy to. I spent a lot of time trading with it and lost a lot of money.