Bitcoin Forum

With price dropping today from $30K to around $29K, are you worried there will be a deeper correction, or return to bear market, or is this just the short-term correction before re-testing $30K?

Many speculators anticipated rejection from $30K level, as this was previously support for 18 months in from 2021 to mid 2022 and could become strong resistance. Although so far (as of writing) we have only seen a -5% correction to $29K. Ultimately I think it's too early to tell if price will correct further to $25K, $23K or break the recent higher low of $20K. But nonetheless people have started to get concerned, hence this thread.

Some positives to consider:

• Price remains above all Daily moving averages (20,50,200) while above $29K, so far from bearish longer-term
• Price remains in a bull flag / upwards trend since mid March with short-term support level around $28.6K
• Price previously broke through $25K strong resistance that could well turn into new support
• The current sell-off isn't supported by strong volume, similar to the move to $30K initially

These are just a few factors that come to mind. While short-term (1hr/4hr) price can be seen as bearish, it remains bullish on the Daily time-frame and still reversing the bearish trend on Weekly/Monthly time-frames.

Personally I think $28K level is likely to act as strong support, due to the 3 weeks of consolidation/accumulation that occurred recently. Otherwise below this level I think a re-test of the 200 WMA around $26K, as well as $25K becomes increasingly likely. The 200 Day MA however continues to rise from $20K, now above $21K, with major consolidation/accumulation zone currently priced at around $23K.

in the 4hr tf, the 28k could be a strong support that this price could bounce up to $32K which is a reason not to worry. for short-term trader though, its going to be a good time to sell.

it's after $32k that there will be the possibility of correction which $25k will be the support. because the correction is much longer when the market will be on overbought at the weekly chart.

I will not be affected by this correction, so I will only consider it as short-term correction that will likely recover in the near future. The 1 Day and 4 Hour TF looks bearish, but we are still in an uptrend if we look at it from the 1 Month TF. So I personally wouldn't worry about this correction, it's just going to be very close to recovering and getting back to testing $30k.

Strong support now expected at $29k, but if this correction is followed by panic traders then I don't think $29k will be able to withstand the selling pressure. I hope there is no deeper correction, this should be resolved in the short term.

Don't look for specific price in USD but see how big the change was. How much did we really lose from yesterday? 3%? That's nothing when we compare it to a normal price action of bitcoin.
Bitcoin is known for experiencing daily price action of +/- 5% and this usually happens at least twice a month, which if you look at the charts is exactly what's been going on for years.

In March we had a correction from 28,7k to 26,6k, this time it's 30,3 to 29k (so far)so this is a much smaller drop than 3 weeks ago. If you weren't worried then, why make threads about it now?

How does the 1 Day chart look bearish to you? I only see a bearish candle from today, nothing else. As I referenced in the OP, price is above all it's short to long-term MAs, the RSI on the border of neutral/bullish (far from bearish), CMF is still bullish, the only exception would be the MACD that is crossing bearish today, mainly due to the minimal move to the upside above $29K, hence MAs are catching up.

As someone else pointed out in the thread, price is down -3% today, or -5% from it's yearly high, which overall is a pretty standard price fluctuation for an asset like Bitcoin.

Why would this make worry you OP?? Bitcoin doesn't just go straight up. Did you already have the same worry like a half dozen times this year?? Cuz there have been plenty of drops so far this year.

I just saw an article in a major publication today claiming that Bitcoin's rally has stalled...all I could think is wtf?!

Bitcoin literally just hit $30k a week ago. OP why would you possibly be worrying?

Bitcoin has already "stalled/corrected" at $21k, $23k, $24k, $26k, and $28k so far this year. Hell from late Feb to mid march it dropped from $25k to $19k over like 3 weeks. I don't know why going from $30k to $29k is worrying some people so much, as though this is anything but completely normal.

This is literally just normal price action. If you get worried over this you must have only just joined Bitcoin this month. And be prepared to get worried every few weeks lol

individually, the correction that is happening to Bitcoin right now doesn't really have a big effect on me, because so far Bitcoin has increased very well and when they experience this price correction I think it's normal and certainly doesn't make us worry, maybe at this time the market is still red on bitcoin and there has been no sign of returning to where it was or increasing more than before.

We know that market is something that having that normal movement which it cant really be something that would really be having that single movement or just going up like forever.There's always a correction,

retracement, which means that instead on freaking out with these kind of movements, it would better for you to see to be this is an opportunity to buy cheap because we know that after some corrections or dump,
there's always a recovery which means if you are really that wise on playing up with moving of prices then you could make an advantage to make profits in short time.

Well, this isnt for everybody because making up short trades or active trades isnt something that could be easily pull off.

I'm not worried at all even if it falls below $20k again. This is essential for it to have that retest that we're all anticipating because that's how it act before it gets to another support level. Long term people have nothing to worry about. This has been seen by the books already and experiencing the market even without going through technical analysis will tell that this is a common move for bitcoin as we know what will come by next year. These roller coaster rides are fairly normal and bitcoin has to go through several process of going down before it becomes stable again with the support that we might see soon. Each level that it goes up provides another support and these retests surely are part of it. By then, traders should still be careful, the active or daily traders because in these short terms the moves are unknown and unpredictable just as the usual.

When the price wants to cross specific price barrier it undergoes correction. Based on what is happening around the cryptomarket the corrective measures used to in favour or against the market. For now there is nothing negative, so we can have the resistance that could push the price forward after few weeks of oscillation between the margin of $27500-$29500. If this gets pushed earlier we can expect price to touch $35k and once again stagnate around the value for some time period.

Yeah, I don't think we have to worry about the current decreased in the price, it's just the normal pattern. If we breach the resistance like in this case of $30k, it's hard to sustain it's run. Just like when we broke $25k and $28k. Specially that $28k, that's one of the hardest barrier because we have like attempted 5x to go over it and sustained. And even if we go past $28k, it went sideways for the next 10 days. So this might be the case as well to $30k, going to trade sideways for the longest time before we can make another break out run to maybe $32k. And then it will just repeat itself again.

I do not know why you guys worrying about the current movement of the bitcoin, remember that retracement are one of the natures of the cryptocurrency market. It is pretty normal to see a retracement as long as it will not go deeper below -20% or more. A lot of people asking if the price of bitcoin is healthy even though it is currently going down, for me it is a yes because like what I said, retracement is important and it is necessary if we want to see bitcoin at around $32,000 + or even more.

Do not worry guys because the major support has been established around $29,000. The possibility of the bitcoin to breakdown in that area is very low so we can expect a bounce in the following days because the price of it is considered as cheap especially for the swing traders.

My vote is for no, we should not worry. Inflows on bitcoin have been coming from institutional investors according reports backed up with data being shared in social media. This week, bitcoin has $100 million of inflows.

The coin holders that should be preparing for a big dump are the holders of ethereum. The latest upgrade has unlocked billions of dollars in staked coins and it appears some of them are being deposited to exchanges.



Crypto exchanges received a net inflow of 179,500 ether (ETH), worth some $375 million in the four days after Ethereum’s Shanghai upgrade went live, according to crypto data firm CryptoQuant.

CryptoQuant data shows that traders deposited 1,101,079 ETH to exchanges between April 13 and April 16, while only removing 921,579 tokens. This was the largest four-day net inflow in a month.

Investors transferring tokens to exchanges usually indicates they are preparing to sell, which may lead to a price decline.

Source https://www.coindesk.com/markets/2023/04/17/exchanges-receive-375m-influx-of-ether-since-shanghai-upgrade-as-price-hits-11-month-high/

OP, you've answered a lot of your thread title with your fine rationalization. One thing that seems to be missed by everyone is sideways action.

I think it's clear that everyone is fearful of sharp crashes or dips of 10%+ as we saw in the last bull run. The difference between last bull run and this (in my opinion, temporary) bull run is that Bitcoin was artificially reduced in value pretty much throughout all of 2022. Now, it's sideways and upwards until this trend is over. I wouldn't expect huge crashes, just small corrections like the one we just saw...and to go with it, lots of steady and sideways action.



Anything coindesk says should be taken with a grain of salt. They, along with CoinTelegram and other mainstream crypto news platforms are for the most part, garbage. 

I think it should also be known that during the last bull run, on-chain data was just becoming a wider known form of data for predicting the price. Whales and market manipulators who seek to the control the price paid almost no mind to this data and it was an accurate way of seeing where the market was headed. This time things are very different. You should expect on-chain data to be just as manipulated as the charts you TA on. Take it all with a grain of salt.

It’s too early to say. We would need a bad looking weekly candle or some type of failed double top. Yes it looks scary because we are at major resistance but the same happened in early 2019 when we broke thru $6k.

Many sold or shorted at $6K but it never had a double top or had a bad weekly close and hence why we just went thru it like butter. Could be the same situation here. We need more time in this area to see if we will break or not.

All the scenarios that you set for the price do not include a rebound above $30,000,
the next trend is bearish, or are you letting the bearish scenarios go?

As I expected previously, the price will not continue to move away from above 30k, and we may retest the same levels after the next Federal Reserve meeting. Until then, I suggest returning to testing the 26k and long-term stability at the 28k.


Less than 24K is a very pessimistic scenario and we may not see it soon.

Not really. I am concerned about the long term. These fluctuations, although they entertain me, don't worry me that much. I see the drop as part of normal volatility and I don't see any special reason for it.


I wouldn't rule out dips to around $25K or so, as you say, but I think the worst of the bear market is over and I highly doubt we'll see $20K again. I think the underlying trend is going to be up. With less and less time left for halving I think the macroeconomic situation is out of its worst moment too.

Lol, I voted "no" and I see that 100% (out of 9) we voted the same.

I'm not worried about the drop this time because I still believe bitcoin can go back to $30k and can even go higher. You should not need to analyze too deeply if you bought bitcoin at a low price yesterday and still want to hold bitcoin longer.

If you analyze bitcoin again, maybe you'll find something that can worry you even though it's not like that will happen later. This correction gives me more opportunities to buy bitcoin and maybe this correction will last for a few days or a week before the price can go up again.

Where or when did I say that I was worried about the current price action or yesterday's correction?? Check the OP, I only highlighted bullish factors and made clear that I think it's too early to tell if there will be a correction towards lower prices. My point was that speculators are getting nervous about a correction and I was curious to see if it's reflected in people's opinions here, which doesn't seem the case.


Even just reading the post above yours (https://bitcointalk.org/index.php?topic=5449194.msg62107539#msg62107539) would have confirmed that I'm not worried about any short-term rejection from $30K that occured.


Literally exactly what I said in the thread above yours regarding a -3% Daily move to the downside.

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It's a good point. For me sideways consolidation at the highs is bullish. It shows price is able to to sustain higher levels and bears are unable to move prices lower. So in that regard, not being worried about a short-term correction and being bullish is inclusive of sideways price action (rather than just continued upside). Based on the consolidation around $28K, I also agree it's quite likely around $30K in order to remain bullish.

And just like that, we are now back to $30k, seeing as high as $30,300 on some exchanges. Maybe the bulls just take a quick break in the weekends and now going to push it again to the resistance of $30,500.

So yeah, just like the rest, I'm not worried about the correction that we've seen.

With this movement, the bullish flag is still confirmed in my opinion and so we might see some movement this week.

I like this chart and from what I  can see by eyeballing it, price is currently pulling back into the range between ~$30400 and ~$27600  around the tip of the FU candle which can be clearly seen as we always expect a pullback after every break of structure, and my reaction points I can see from this are around $28000 were price could actually  reverse as price shows its still bullish despite internal  structure showing  bearish intent.

That critical point on the chart, I dont know if we can get there because  if it does then markets will be confirmed bearish once again as this will be the external structure bias .

I mean you started a thread to ask if people are worried, and claiming many people are worried, "people have started to get concerned, hence this thread", and ask them if they think the bear market is coming back and if the price will drop back to $25k or $23k or $20k, so you seem worried but trying to be hopeful and wanting to see if other people are worried.

And I was pointing out that you made this thread worrying about possibly a new bear market simply because the price dropped $1000 for a day (and is now back up to $30k one day later). This is completely normal price action. So I was just questioning why you made a thread with the title asking if there is a reason to worry when this is just normal everyday price action. If a $1000 drop is a reason to make a thread asking if a new bear market is coming you could make a new thread about this every couple of weeks, forever. I mean heck, just a bit over a month ago the price dropped like $6k for 3 weeks, and you're asking if people are worried cuz it dropped $1000 a week after it went up $2000. This is just regular market fluctuations.

Just confused why you would start a thread asking if people are worried (potentially about going back into the bear market even!), and claiming people are concerned when I can't imagine why anyone would be concerned because you did this on a day when nothing other than normal price action took place.

I'm actually not that worried about the price of bitcoin nowadays since I don't day trade. Plus, the bearishness is only at a short time frame. Even at this moment the movement direction of bitcoin is looking good. I even believe that we are slowly going in an uptrend. Still though, I keep extra funds just in case something unpredictable happens in the economy again that affects bitcoin. I'd have to DCA again. What interests me right now though is how bitcoin will move till the 3rd and 4th quarter of this year. Depending on the direction I might have to go from long term to short term or day trading and only leave a part of my holdings on hodling state.

He didn't know for sure that the price will recover immediately after dipping 1K after hitting the above the 30K mark multiple times. The current price is at the peak for the current bull run cycle. There is nothing wrong to worry about for a correction because it's a normal occurrence in trading once the price pump hard.

You are only making this comment after the price recovery and not yesterday when the price is dipping that’s why you sound confident in your opinion. There is no straight upward movement and having a correction is good for a healthy price development. Although I agree with you that there should be no worry if there will be a correction or none as long as there is no bad news that will give huge impact on the market.

USD and banks are crashing! BTC is best way to dodge this catastrophic shit to save pur savings from inflation.

I guess you haven't seen other threads of mine whereby I see the correlation between this bear market relief rally and 2019 (https://bitcointalk.org/index.php?topic=5440568.0), and generally think $50K is possible, or at minimum $40K for a relief rally, if the bear market is indeed over. It might seem like I'm bearish or worried if I'm creating a thread like this, but as per usual my threads are usually in order to gain market sentiment from bitcointalk users - hence they nearly always have a poll.

As I said, if you read my words rather than focusing on the title, it'll help to better confirm my opinion. Especially when I'm not providing any bearish analysis, only referencing the opinions of others.


I created the thread at the time as $30K had eventually been reached, followed by a short-term correction. It wasn't because price had dropped $1K specifically, it was simply because a short-term correction had begun and I was curious about market sentiment on here, as it's often very different from the likes of crypto twitter or elsewhere as usually has more longer-term Bitcoin holders that see the bigger picture.


I guess you are focusing on the timing of the thread, as opposed to it's purpose. Price has returned to 18-month long previous support after breaking it around 10 months ago. So sure, every 10 months I'm very likely to make a thread questioning whether people think previous support will turn into new resistance. I also created a similar topic at $25K (https://bitcointalk.org/index.php?topic=5440697.msg61797063#msg61797063) as well as at $20K (https://bitcointalk.org/index.php?topic=5444283.msg61888193#msg61888193), both times with some accurate analysis it's worth noting.


Again this is about the price level rather than the timing. For months many bears have anticipated strong resistance at $30K because it was previous support for 18 months, not so different to $25K price level which held as resistance for some time. While based on technical analysis this makes a lot of sense (as it usually happens in markets), I've argued for as long that it might well not be the case based on the 2019 mini-bull market / bear market relief rally. Simply put $6K had acted as support for over 6 months and when price came back to re-test this old support as new resistance, price broke to the upside with ease and virtually no resistance what so ever. Despite many speculators anticipating this previous support to become new resistance, potentially for as long as it was support, for example like in 2015. There was also a lot more volume at $6K than around $4K (with price below it) than is currently the case at $30K. So actually, there's a strong argument that price can break through $30K much easier than it did $6K in 2019, at least based on volume.

My fairly rambling point is that unless you've been living under a rock this year, many bears have been anticipating rejection from $30K for many months now, basically since price broke below 10 months ago. They see it as similar to $25K that took 9 months to reclaim (after numerous rejections). Personally I'm not of that opinion as I stated, I actually think reclaiming $25K was the hard part rather than reclaiming $30K.

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The fact price has returned to $30K doesn't exactly invalidate the idea of a correction quite yet imo. If anything, price is facing some short-term resistance at $30.3K which is a short-term distribution zone. Obviously whether price breaks through it or not is a different question, but unless price can hold onto $30K in the coming days, there still might be a short or longer-term correction towards say $28K initially.

My point mainly is that by the end of the day price could be back under $30K, so I'd say the topic will remain as valid discussion until price crosses $32K.


In fairness, thecodebear did comment on this topic yesterday (https://bitcointalk.org/index.php?topic=5449194.msg62107693#msg62107693) pointing out (quite accurately imo) that it was normal price action.

This year start was a little bullish for Btc. although Feb and March btc crashes but The month of April can be called now Up Ral for btc. from the start of this month btc gradually start rising and now its price above 30k when i writing this post.  If we see the chart carefully we will see same the same chart like 2019.

if we see weekly candle then bottom can be around 27400 which is strong resistance and there is very high volume of buyer and big whale. There will be up and down but we may see btc push up to 34 k next month. at the same point if 28 resistance broke them we can also btc dropping to 25. Because of halving I feel very positive and i strongly believe that there will not big crashed this time and we will recover very soon after correction for next big ATH for this year which can he 34k-35k

This wasn't the first drop that we experience this year so why will we worry? We are in fact excited about it because we can be able to add more coins in our stash. We already experience $30k for a long time so some of us are bored on this price and want some actions again but they mostly want an increase more than the dips. The good thing about Bitcoin is that it was like a ball. It just bounce after a fall.

It can go high because we are not yet in the real bull run. Bitcoin investing doesn't need analysis, this is why it's the most newbie-friendly crypto. If an analysis can trigger worrying, then we better avoid it because it can only ruin our plans. It's often said that emotions is our worse enemy when dealing with cryptos.

If you've been here on this market for long years then these drops would really be just liking to be part of an ordinary day as it does move out every single second or moment which it isnt shocking anymore.
If you are just a newbie then these drops would be something that would be freaking you out but once you do already get used to it then you would definitely just ignore these drops and instead of
freaking out, you would be simply seeing these moments are the best time for you to buy which its a must thing that you should do but since we do have those TA and other tools
then we do always make our analysis on when to get in and this would vary on each trader or investor in the market.

Bitcoin right now is already sitting above $30,000. I believe there will be a lot of tests will happen that start here on this level.
It's still possible to drop down below $30,000 as I believe this $30,000 level will become a significant support, now, I believe Bitcoin will create support on the $30,000 level.

Yes, usually this round numbers are a big test for us, but once we get over the hump, definitely it will become a support.
And market is very volatile in the last couple of days, hence this thread was created by the OP to gauge our sentiments. But it seems everyone is still very positive that this is still bullish, with just minor corrections and no need to worry at this point as the support is very strong at $30k.

After the price rise over $30k there was an assumption that the market would turn lower again and we saw a continuation below $29k. But there was no reason to worry. From 29K it is again in bullish trend as before. BTC is currently trading at $30,224. If we take a look at a price chart over the past seven days, BTC is down 0.01 percent and the 14-day price chart is now up 7.3 percent. Various predictors are bullish on Bitcoin and believe that it will be able to overcome the $31k price in the next few days. Currently, there is strong support zone at $28k, so even if the market corrects, there is no possibility of going down much. 

yes, I agree with you, even if we look at the chart for a longer period of time, like this year, what happened was the same and there was no correction that was too deep, the percentage did not exceed the increase that occurred.
so I think then there is no reason to worry about how far the price correction will go.
in the last few days the Bitcoin price has been corrected after a significant increase and until now the correction has occurred very little and even today the Bitcoin price has reached a price of $ 30k again

The price correction in the last two months is not too deep for Bitcoin, but when there is a correction like today in the market, at least some people are also starting to feel afraid even though they are not going to sell their holdings right away at this time. Because price correction like now is something that worries those who haven't had the chance to sell after buying, while those who haven't bought is definitely a good moment to take advantage of.

And for Bitcoin investors who like to save for the long term, obviously the current correction thing is a very familiar spectacle for them because in the past there have been a lot of corrections that they have seen, but they have never been bothered by it.

https://i.imgur.com/kdJDEyn.jpg

from seeing this happening multiple times now? just today it moved 29-30k and 30k-29k ? i believe that this is a reason for not to be bother and just expect this
to come because of the correction from those who are taking their profit or recovering from their losses.
and also those who wanted to make this down for some way to manipulate.

Indeed. But despite my confidence about my position, I am still being wary right now. I even updated my notifications just to get alerts when prices reach near my red zones so that I can prepare counter measures. I already learnt my lesson last time. Sometimes the prices moves so fast that you can't even finish transferring funds to buy or sell whenever it starts to go up or down in price. Losing money and missing out on profit opportunity really feels like crap especially when you know you could've done something. Although there's some on the exchange, it isn't that much since I only store a small amount of usdt on exchanges.

It's the same money being circulated around. I bet the same people who bought it at 29000 yesterday dumped it again today back to 29. They're doing it to see if they can get people to rally or dump following their move and possibly flush some leveraged traders out. Each attack on the support or resistance weakens it and people who are doing it know about it. They want to see which one breaks first because staying at 30 000 is boring. They aren't making any money.

When you see something like that just wait, don't trade until either the resistance or the support fails to hold. Fed meeting is already priced in. They will not cut until Autumn, but it doesn't change anything. Last time they hiked bitcoin went up, so we aren't bound by FED rates just that if they cut we'll have a stronger rally.

Even if you've been around for a long or recently joined the crypto market as a trader, technical analysis does play its role if you are regularly trading. If you are just buying and holding for the long term, then you obviously don't need to learn any technical analysis or chart reading or anything but all you need is to be patient enough to hold them for as long as possible.

If we talk about the market at the moment, I don't think we have anything to worry about even if the price drops significantly, we know that it's only a correction and the price will surely recover soon, and on top of that, we will get another opportunity to purchase at a lower price if we have been waiting for that.

I would be even happier if bitcoin could correct sharply and drop below $20k again. Every time bitcoin gets dumped, I buy more, so I'm most looking forward to a correction during the bear season. I'm focusing on accumulating bitcoin and only selling when it hits $150k, so I'm happier to see bitcoin drop than to see bitcoin go up so fast.

Didn't you buy more Bitcoin during the bearish season last year? Because in the last year Bitcoin has experienced a bigger decline and even more than just a price correction in the market. I'm sure you know that last year Bitcoin experienced a big drop in price, but if at that time you didn't have time to make a large number of purchases, it's only natural that at this time you would still expect a correction in Bitcoin. But if in the last year you have bought more Bitcoin at a price that is even twice as cheap as it is now, I think it's time for you to expect a better improvement on Bitcoin.

The halving is getting closer and people know it's going to be worth more in 2024, so there isn't and there won't be much sell pressure.
What we're seeing now is traders who made some money on that last pump from 28k are taking profit. It's not panic dumping, just short-term investors are scalping what they see as a temporary top.
I wouldn't count on a drop below 20k, unless something completely unexpected happens, like an exchange collapses, the way FTX did. Even if there's a continuation in the dips, I expect to see 40k by the end of the year, and a new ATH in 2024.

Probably not happening again, the recovery we have being experimenting during the last two months was significantly faster than I thought, this tells me the market is stronger than anticipated as the economic signs are not necessarily the best, and smart investors decided to buy bitcoin earlier than expected due to those worries, and unfortunately for you this means that if we are to watch another drop happening at worst we could get to 25k and not one cent lower than that.

Takes price back a week, not something I would immediately worry about as a pullback at some point is required.   A price that rises unchecked tends to pull back more harshly when tested as many more sellers are ready to drop BTC then during any normal move that will cycle back and forth even with ascending in price.
  It probably is more important and nessecery a sell then purely short erm as during the faltering price we have traded below weekly average and now have fallen to meet the monthly average.     I do think 30k or above was required for a more positive price to resolve this month, it might just be we spend an extended amount of time exploring prices in 20k range before testing the lows of May last year and the prior year.   

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

Failure to regain the prior high that was above 30.5k and with higher vol on the red bars then prior volume but it could be 28.5k is where BTC price can find enough support from it previously trading almost a month long sideways patch here through March.

I also don't think that will happen. Bitcoin will still correct this year as we are still in the bear season, and $25k is also a support level that I believe bitcoin can touch but cannot be broken. If anyone wants to accumulate, then 20k$ is a better price but 25k$ is not too bad and still better profitable than 30k$ or 40k$.

It will definitely be corrected, the price of Bitcoin is quite saturated after breaking through $30k.
Several corrections occurred and are currently touching the $28k price area again.
It is possible that this correction will continue if accompanied by bad news that appears about Bitcoin.

https://i.postimg.cc/xTgJgFtt/30k.jpg

On the 1D Time Frame, the highest Bitcoin resistance target that is still not broken is around the price of $32k and it will touch the Bullish resistance point.
But it seems that m still continues to correct and if the Uptrend Console line is successfully broken it will go to the price of $25k which is the Flip Trend line.
That will determine whether Bitcoin will be bearish or bounce back.

The $20k price area still seems to be a strong support area at the moment.

No I do not think this is any reson to worry. We did not think the price of Bitcoin would remain the same of 30k without there being some small correction. It is only a 1k loss soh this is not something that is very concerning for me.

I think the price of Bitcoin will again soon be 30k and more. Something that will worry me is if we see the price become a correction to the price of 25k then I will have a reason to worry. But this is such a small correction and just not a concern for me.

This dump was not the doing of ordinary investors like you and me who support bitcoin. According to some rumors it was a 16,000 bitcoins dump from one individual. Speculations were it was the American government, however, the dump was in Binance. The American government dumps on Coinbase hehehe. Also, memes were being shared that CZ is presently under the custody of Interpol.

https://i.ibb.co/B6mfbDw/CD5-BB2-BF-B6-DE-4-F30-82-C0-5-B1187-E7-A9-EF.jpg

yes, if you look at the current movement of Bitcoin, maybe it's something that won't happen, but it's all uncertain, the price of Bitcoin moves quickly so that everything is very possible to happen and everyone has different wishes and expectations for the price of Bitcoin.

in the last two days the Bitcoin price has been corrected slowly and with a small percentage and when compared to the increase that has occurred, a small correction will not cause panic because the movement is slow and only a few.
for support points maybe we here have different beliefs, but personally I still firmly believe that the price of Bitcoin will not be corrected too deeply and will recover in the near future.

It's perfectly normal for a correction to occur on the markets but I've been calling this one for a while now and the fact that we haven't broke the barrier of 35k$ on BTC , makes me think that it was a full trap from bears and guess what , it worked flawlessly because a lot of us believed that we are heading towards a full bull run that can start alongside summer. What is next ? well , let's hope BTC won't sink further and go into 25k$ range because if we do that , I think during summer we might see bitcoin under 20k again. This is just my scenario based on my personal experience during bear and bull markets.

Just what I was expecting it's not like it's going to break another resistance because it was more like a bull trap that's good for a week then get back to the real price. If it will continue to drop then probably it's trying to hit the support again then back to pumping just like how the whales making profit. If you are trader you should have gained a profit already and is just waiting for the right time to buyback but the question is could this be the real support or will it go up after this?

We don't know what would be the next price but if it's having a correction then I will just have to hodl instead then wait for what will be the next move since it's hard to predict because of those bait price.

So maybe the next price target is $35k because BTC is already at $30k even though it is now under $30k. For now, BTC's movements are getting wilder than in previous years so we must remain vigilant.

It is not certain that the current price will decrease again because the price of BTC could immediately increase again and we have seen this happen many times. But we don't expect to see the price of BTC continue to decline because that will make people lose hope again. After all, they have seen it before.

Moreover, we are now at the weekend when another correction might occur. So we have to be really alert and prepared if that happens so we can buy bitcoin at low prices again.

Why would you lose hope when bitcoin goes down, don't we always want to buy low and sell high for the best profit? If you are also using that strategy, you will be happier when bitcoin can fall even further. I'm not like you, I expect bitcoin to drop below $25k which is a good thing because buying cheap bitcoin will give me bigger profit later on. I'm aiming for ATH in 2025, so I expect the bear season to last rather than end soon.

We have always been told that retracements are good and healthy for any asset that keeps moving up with consistency. I believe that $25k is the price BTC will touch soon because there's still fear in the markets about Mt Gox releasing the coins to their customers. If the first batch of coins gets released, there'll most probably panic sell in the markets and it'll be through short term traders only. However, there's not enough bad news coming out which shows that currently, bulls are and will remain in control.

I would be very happy to see Bitcoin get to the expected pull back we've been waiting for towards $25k, it will be very risky if we continue shouting up without necessary retracemet. With the pull back we've already gotten down to $28.3k, Bitcoin is now gone oversold in the 4Hrs time frame, and forming a falling wedge pattern in the 15-30 minutes time frame. however we have most traffic at $27.5k which is low risk zone to file in orders if Bitcoin should reverse from here.

I'm honestly not bearish on BTC at all, however I believe that there are too many longs already and when there's too much confidence, the greed level is high and that's when full-forced attacks are made to drop down the price of the asset in order to liquidate the powerful side where there's enough liquidity to grab. This time, it's the bears' turn to liquidate longs before we see any new highs for this year, that's what I believe.

Taking a look at the current price https://i.ibb.co/Ky37VdL/Screenshot-2023-0420-193943.png (https://ibb.co/7y6VrPR) I can say just one thing which is a perceive further correction in the price of bitcoin, you may guess right to say that we could possibly touch 25k once again but also know that it could be that Bitcoin is building enough resistance at it current level to push further beyond 30k which is a. Possibility but not certain due to current liquidity ratio of Bitcoin.

But for those that have being waiting for the price of. Bitcoin to touch a discount level then this is the best time for them to buy since in the next couple of week wa may never see this price again.

Bitcoin threw the needle exactly where it should turn, I expect it to form a stage by filling and emptying between 28.500-29.500 for a while. However, for now it is around 28,300 and stands at the end of support. If there is a downward direction from here, the support will be broken and alarm bells will ring.

The danger is not past, but I think the severity of the correction is decreasing. If BTC is calm, it expects to go up one notch in altcoins.

I would guess that it would be enough to just put a stop loss a bit below 28k. Like you could literally put it at 27.9k and that would be enough, because it is obvious that if the price drops anything under 28k that means it could go down even faster, not saying it will, but going from 29k to 28k is a lot harder than going from 28k to 27k, there is a big difference between them.

I hope that it does better in the end and we could end up seeing something much bigger, and the price would be 35k and then 40k and so forth. But even if it falls, I would give it time until 28k, we can recover from there to above 30k easily. However, if it drops even further, then I would say that it is time to let it be and drop a bit more before we buy again.

I am also not expecting the market to go down deep as this looks like a minor correction after weeks of rally and hopefully we will not see the market going down below $25k because the reason for the rally is because of the fear in the conventional financial market and hyper inflation and if the cryptocurrency market goes down deep then it means people are loosing trust in this space as well and hopefully that is not the case.

When the market do make out some correction then the ones who would really be mainly happy is into those bear boys who do expect for the price to dip down until 10k which we know that it is really that impossible
to go that far below considering on how many times the price had been trying out to decline as low as possible but it do keeps on having some recovery. Have to worry? Only to those people who doesnt have much
experience about this market would really be having this kind of feeling.If you've been here on this market for a while then you wont really be freaking out yourself on the time we do see these kind of small percentage declines. Instead you would really be seeing this as an opportunity on making up some short trades and make money with it.

Is there a need for someone to be worried about the uptrend and downtrend of bitcoin price for the time being? This particular movement of bitcoin shouldn't let anyone worried because no matter how the price of Bitcoin drops it will still get back to $30k within some days. I have seen that happen on two different occasions.

If bitcoin is to fall to $25k, I still have the belief that within days, I will see bitcoin price climbing back to $30k with a short time. Such belief has made me feel relaxed and not feel worried about the bitcoin price again.

I would say do not be worried. If you are worried just because your profits might be gone or you're not in position yet so your thinking of FOMOing in. Don't.
This case scenario only reflects that you don't have a plan trading or investing. You're investing after your emotion and that's the worst thing you could do.

Instead of worrying where price is likely to go or trade to (which is absolutely you have no control with)
Plan how you are engaging the market. Be the operator of your own trades and investment.

Plan ahead, what will you do if price get to a level then what you are going to do.

IF...Then this...

If $28K is revisited Then I will buy
If $25K is traded lower Then I will cut my losses and preserve my capital
If $35K is traded higher Then I will take partials or take full profit.

That's just an example. But I will tell you. Have a plan. So you don't have to worry.
If you have a plan, then worry will be gone. That easy. Following it is hard. That's why 90% fail and lose money.

I think people will lose hope. After all, I never lose hope when bitcoin goes down because I still see an opportunity to buy low so that would be a good moment to increase my bitcoin amount.

But if the price drops below $25k, it would be a good time to buy bitcoins but the crypto market may experience a shock as the prices of other cryptos follow the bitcoin price.

That's why I said we have to stay alert and always be ready for whatever happens so we can adapt to the market situation.

Altcoins are getting the highest dump as always, this dump has made many to dump more than 30% so when Bitcoin is done calming, I'll advise we stay away from altcoins as their future is likely more dump then increasing because after Bitcoin becomes calm, nobody knows the direction it'll take, it can increase in price and try to break the $30k price again or continue dumping.

Bitcoin at the moment is holding strong at $28k and we have very strong support in this price since it was once the resistance before we broke out and headed to the $30k price. I always knew we can't hold above $30k since the market was finding it very difficult to reach $35k so a dump was likely to happen.

The current market is slowly trending downwards resulting in massive price declines in altcoins. Investing in altcoins is the riskiest right now. But Bitcoin still exists in a satisfactory situation. However, the price has lost 7 percent in the last 7 days. Now bitcoin is trading currently 28,280. However, the market may turn bullish again at any time. If it falls further from the current price then it could be another good opportunity for investors. But Bitcoin holders should not panic and instead try to grow their portfolios.

Every time the price of Bitcoin will pump, a correction will then follow. But I'd never think it was worrying enough because it rises back again stronger than before. I'd thought that the majority had already known this situation for this was not new anymore to the market. As long as the price of Bitcoin does not yet reach its peak, I was certain that after $30k, there is always room for $40k, $50k, and more...I think always about it, so instead I feel bad when it drops, why should I take this opportunity to buy more.

I hope the same think is need waiting for few week so done the price $35k after correction, For those who have been waiting for a while, there is no doubt that good times are about to come. My opinion is that if someone thinks he can wait a long time and has a long term plan, then it can be a good decision.

Even when bitcoin fell from $69k to $15k last year, people continued to believe in bitcoin, there's no reason bitcoin's decline from $30k to $25k would make us lose hope. Bitcoin can increase 50% in 2 months, so it is normal for bitcoin to drop 10% or 30%, we should adapt to that because there is no forever bull market without a correction. Although bitcoin is recovering, but the bearish season is not over yet, so I think we still need to be very vigilant and not be subjective just because we see bitcoin recover quickly.

Now is the time to wait again because for some people it is not possible to sell Bitcoin during this downturn. The price of $35K after the correction is still very much achievable for Bitcoin and indeed it is right for everyone to wait for it to arrive after this correction is over on Bitcoin in the market, although I don't expect it to be reached immediately within this month.

Price has now reached around $28K previous accumulation zone. Only time will tell if this acts as support or not, but the selling has slowed down for now:

https://s3.tradingview.com/snapshots/d/DXDklIJ2.png

Failing that there isn't a lot of trading around $25K, despite it being previous resistance, so the next support would be around $23K it seems (previous accumulation zone).

This is also where the bullish trending 20 Week MA is priced, which has just crossed the 50 WMA in bullish formation.

I think slow one matters because of two things. Yes it is going down, but it is not going down too much, it has been just a small drop and when the amount is this insignificant, that doesn't really matter to people and that's the important thing.

But the second thing is that if we are talking about the current period, it had a lot of increases at the moment before this happened, so when you go from 16k to 32k that means that we are going to end up with a small bit of increase and that is why I think people are fine with that. I know that reaching from 16k to 32k means that you are going to have a bit of a fall and that's fine. I also believe that we are going to see it stay here and then up higher after all of this drop is down.

If you look at it, it appears that Bitcoin is showing its usual sideways behavior, especially over the weekend. At the moment, the cryptocurrency is holding on to minor support, with safe entries for long positions around the 26500 - 2600 levels. If Bitcoin falls below the red line, it may face a correction to the 25k level. However, if the current support remains intact, Bitcoin still has the potential to rise again to overcome the existing daily resistance. It's important to approach the current situation with a cool head and careful consideration of the risks involved in any investment decision.

If you are worried about the market erasing a week of gains then it is very clear that you have far too much money invested in Bitcoin.  If this applies to you, you're looking at the daily data way too much and you're going to miss the forest for the trees.  Bitcoin should be viewed in 4 year increments, not weekly increments.  You want to buy the bottom every four years, and then sell the tops.  You don't have to trade yourself to riches along the way, you just need to keep buying and holding.  Once you change your mindset and have some faith, you realize that it is that simple.  Traders mostly miss the peaks by selling for little gains or flat out lose their money on bad trades.  If you believe in BTC, you don't need to trade it.  You need to stack it.

Having too much stashed bitcoin or been bought doesnt automatically means that you would really be that impulsive whenever it do make out some declining price behavior.There are people who do really get used to it and doesnt mind whether it would be going down below and instead on freaking out.They would rather be buying even more or simply making out some DCA we know that we cant really be
seeing the price which might be possibly the last to be seen on this cycle. For those wo do have that huge awareness and experience on how this market behaves or works then you
wouldnt really be making  yourself that impulsive.

Well, there goes $28K support. It held well for a month but isn't holding anymore. With the -10% correction so far this week, I suspect we'll see a further pull-back next week unless $28K can be reclaimed by end of week. I don't mean to sound bearish, only realistic, as not convinced the 200 WMA will hold, nor $25K, as most of the volume is around $23K which is the realistic next level of support for price.

Either way it's a good time to accumulate I think. It's been almost a year that price has been in a wide range between $15K and $30K, so the fact it remains there is still bullish imo.

Yeah, unfortunately, the big $28k support has fallen, it's huge though, I mean we have been trading for this price for more than 10 days if I'm not mistaken, and it's really a big support for us in March which really pushes our bullish sentiments. But now that it has been broken, we might expect some bearish trend this month (I don't want to sound bearish, but still better to be prepared).

Not sure if you also look at the average mining cost of bitcoin, because it seems to be below as well right now. So again, just another data that I have been looking in the last couple of months to see if there is some correlation with the price action.

https://en.macromicro.me/charts/29435/bitcoin-production-total-cost

$28K was support for longer than 10 days, price first reached this level over a month ago and consolidated for 3 weeks around this level before moving higher. If you ignored the weekly close last week above $30K, that now looks like a fake-out to the upside, then price has basically consolidated for over a month between $26.5K and $29K. In Bitcoin, this is actually quite a long-time to consolidate in a tight range.


I used to keep an eye on this metric, specifically when hash rate was correcting or consolidating, but since it has started rising again then I've largely ignored it. Others on this forum have pointed out how unreliable this "average cost" basis is, as it's impossible to factor the cost of electricity in countries where it's much cheaper, or otherwise the cost of mining with renewable energy that's much cheaper to maintain etc.

As far as I understand this cost basis would be based on the average cost of energy worldwide based on non-renewable energy, or maybe even just US-based. As generally it's hard to believe there would be such a large Bitcoin mining industry if the cost of production was around the same as the price of Bitcoin. This "average cost" is simply based on "mining at home" operations or otherwise "hobby mining" imo.

For example hash rate has increased in the past 3 months along with Bitcoin's price rise, so the industry has been growing, but this "average cost" basis has generally been around the same price of BTC.

Isn't it better to accumulate than waiting?  If anyone who is cost averaging, buying at the current dip of Bitcoin would be a good deal.  If a trader enter at $30k. the recent price decline is a good time to average down his investment cost.  It is still better if the price continue to go down before the market to have fully transition to bull market.  This way those who accumulate can get Bitcoin at a lower price before they see the price started to surge and have an uptrend rally.  This might be the last time we can see Bitcoin at this price range so better to take advantage and fill our bags before the Bitcoin market pick up and uptrend.  If we missed this opportunity, we might end up missing buying Bitcoin at this price range.  Always remember, every cycle, Bitcoin has a higher lowest floor than the previous.

Well, as far as I am concerned Bitcoin will probably hit $35k in 2-3 weeks. Hopefully this correction will not lead the market to significant decrease  and end as soon as possible. In addition to that, it is better to take advantage of this opportunity and purchase BTC as much as you can. The more you waste time, the riskier due to this correction is temporary, it might end in a couple of days or maybe less, after that we will possibly see a bull run, so we have to be fully prepared and except the unexpected. Plus, the more you have plans, the safer you are, no matter what happens in the market.

Do you have any special reason to believe in a price jump of even 30% in less than one month? I'm not saying that there is no possibility of this happening, but I see only bad news on the horizon, whether it's about the US or the EU, not to mention that the war in the east of Europe will soon enter a very critical phase because a massive offensive is being prepared by the Ukrainians.

Anyway, this year should be in a positive sign when it comes to economic recovery at the global level. I do not believe that the price of Bitcoin will deviate too much from these trends, and the additional tailwind can only be a few more banks that will experience a collapse - because maybe that is the reason why we have witnessed an increase in the price of BTC of almost 100% in a relatively short period of time.

Wow, that is a huge jump though, I mean we are in $27k, so it will be like $8k increased in then next 2-3 weeks? That will be huge. Not saying that I don't trust your prediction, but let's say it's better to put a numbers that is doable though, maybe $31k could be far stretch, but we have reach that price already but it just didn't hold that strong. So let's see, the month is going to end and this might be the first time this year that we might be in red candle as the first 3 months end up very good to us.

In this relatively short time span, it seems difficult to be able to reach the price you say. This is not my pessimistic attitude towards Bitcoin because anything is still possible to happen but the current market situation in my opinion is still far from getting to that level.

The closing price of $30K only lasted for 1 week since April 11th, even though it had reached a price of $31K as the open price which occurred on April 14th as the highest price this month even though it lasted for a moment.
The current support price has changed which has led many speculators to predict the bears will return.

I think $35K is possible in 2-3 weeks, but with the recent pull-back remains unlikely. Although $28K broke as support level bears have failed to followed through in the past few days so now price has effectively been in a range between $27K and $31K for around 5 weeks now. It's a bullish structure still imo, but may lead to further consolidation at similar levels for the coming weeks, or a correction, rather than immediate upside.

I'm otherwise not particularly concerned about the month currently being the first red candle since December last year, as a close above $28.5K would turn it into a green consolidation candle. Overall given the quick +50% rise from $20K to $30K within about a month, consolidation near the highs remains bullish for Bitcoin if price can hold recent lows around $27K, and also shouldn't be all that surprising right now.

Do you have any analysis or data to prove that what you say is possible, or are you just sharing your thoughts and that's what you want to happen? I don't see any signs that bitcoin will end its correction any time soon and the price will rise to $35k in 2-3 weeks. Bitcoin is still unpredictable, and what we can do is hope.

Thing is normal and is anticipated by many people in this industry especially those who's been here for years. The market price of it won't continuously increase in a consistent manner. Chart is the key here; there is a massive overbought above $30k and if it would continue then there could be a collapse between demand and market price. The market price continuously increased from $15k up to Thirty, within three moneths which is not something to hope as sustainable. Correction which happened may be as low as $24k, less, or more; no one knows. So for now, waiting is more advisable. Also, to view this scenario whether positive or negative, depends on you 'coz to most of the investors, this is a good opportunity for them to invest and wait for the bullrun.

You may, I do not. First of all the price could always jump when something bad happens, because something bad in the world would usually mean either inflation or simply just terrible economy and when that happens it does help the world of crypto as well. Look at pandemic, we reached 68k price, why and how? Because economy was doing terrible and inflation was at all time high levels and that caused bitcoin price to soar as well.

This is what believe is in the future if you think there will be bad things. However, I also do not think that all of that will happen, wars will be eventually over, finances fixed, elections over, everything will be much better in the future, we will not have what we are afraid of today, it will all come to pass and we will go back to our regular life.

This is similar to what Robert Kiyosaki have to said about Bitcoin in the middle of high inflations. I'm not quite sure if his recent statement can have a positive in Bitcoin, but I really hope that people would realize that as early as now. Robert is not wrong about his statement that "Cash is trash" when Feds were printing a lot of money without anything to back it up. These were all the product of the pandemic anyway.
So, if people would start to realize how to secure their money, their savings, they will also learn that Bitcoin is one of the top option to do it.
I don't worry much about what will happen next after the $30k, it may crash a bit, but I think it would recover for up to $35k in the coming weeks.  I have seen several positive prediction and analysis lately, so I expect something about a recovery after Bitcoin made a short pull back.

As a sort of update to this thread, price is currently finding some support from 50 Day MA for the second consecutive day which looks like a promising sign, despite all expectations:

https://s3.tradingview.com/snapshots/u/usRN3Ftt.png

Personally I think reclaiming $28K will be the current challenge in order to continue upside momentum. As can be seen by volume traded, it's a significant trading zone after $23K. I also admittedly didn't expect much support from this moving average, due to it's lack of significance last month in supporting the price, but arguably last month the rejection from $25K may have spooked traders a lot more than that of $30K.

As I mentioned before, despite $28K failing to act as support, price remains in a range between $27K and $31K for the past 5 weeks which remains far from bearish.

I'll probably back you up on that, the unpredictability of the market doesn't show any signs that the price will grow significantly within a couple of weeks since we can see that we are still in the correction phase, though the price is quite stable at around $27k, that doesn't mean that the correction is done and the price will go up from here.

I'm expecting a lower price from the correction honestly and that is the reason why I don't think that we are done yet. It will probably go below $25k at least, though I want it to go lower so that there is a better buying window.

As a relevant update, this moving average seems to have projected price back to the upside, despite my scepticism that it would act as meaningful support:

https://s3.tradingview.com/snapshots/r/rZNOqhNK.png

With price now back at $30K it may soon to be time to lock this poll & thread, but will wait to see if price can reclaim this level or whether there will be further rejection. At least on short-term time-frames like 1hr and 4hr price is now overbought and facing resistance around the $30K short-term distribution level. By comparison the Daily RSI is only just re-testing bullish levels and therefore far from oversold.

The coming days and weeks could become very interesting for Bitcoin's price if it can leave the $27K to $31K trading range it has remained within for the past 5 weeks.

The 30k correction has certain worries but if you compare the anxiety with the macro trend structure bitcoin is creating.  I think it won't matter, bitcoin is restructuring full price recovery base, my prediction is bitcoin could end April candle at $30k, move sideways a bit early in the month  5 and back to a super rally near $35k.  Compared to the x2 gain from $15k at the end of 2022, profit-taking pressure is for short-term players but it's not an option as the bitcoin trend is becoming solid for the long-term.

The price is showing signs of great instability, after reaching 27k the price recovered and for a short period of time we were above 30k, but then in the span of one hour the price went below 28k, to me these are conditions in which it is not advisable to trade at all as the market is too unstable, and someone using leverage could probably be destroyed as the changes are so fast that if you did not used a stop loss you could lose everything if you got distracted during a few minutes.

If we all had felt worries about every price drop, it only means that we don't have faith and trust in Bitcoin. And most of all, it was an indication that we still don't clearly understand the volatility of the market and it works. In fact, you can never think that it is all an increasing price trend but correction is normal in the crypto market. Therefore, we never have to expect that dumps are impossible because even if the price of Bitcoin will reach $30k, there is a chance that it drops back to $20k. But if we have faith, why we should be bothered with such a movement as it eventually rises back again?

The Bitcoin market has been fluctuating to a certain extent since the beginning of April. If we notice, this month the Bitcoin market touched $31,000. I think there is a possibility of another change in the Bitcoin market come May next month. $35,000 dollars is a normal possibility, but the market is likely to be a bit dumping at the moment. However, there will not be as much market dumping in 2023 as in 2022. Certainly since the beginning of this month, the Bitcoin market has seen a slight upward trend.

Worth noting that despite price bouncing from the 50 Day MA last week, price is now struggling to hold onto this moving average as support as price breaks down below $28K:

https://s3.tradingview.com/snapshots/w/wrMgbgoP.png

Still not convinced this is a time to worry. On Weekly time-frame the 200 WMA is currently around $26K and previous resistance is at $25K that could be turned into new support. But failing that, as I've mentioned before, most of the trading/accumulation volume begins at around $23K (down to $19K). The red box is otherwise highlighting the current resistance zone that price has been struggling to stay within.

One thing worth mentioning is the volume gap between around $28K and $25K, as can be seen by the volume profile, hence I don't see much support between this level volume wise.

dragonvslinux my fav user on speculation board :)

By using your chart as a Data In my opinion the price would pretty much side away from 27K level to 30K level and even tho is a down turn like you said the 25K level would be a major support.

the volume is pretty much low maybe exhaust for bull and can be great to accumulate more put orderbook at 25K level would be nice. hehehe

Over the past 7 days, Bitcoin price has fallen by about 4.9 percent and continuing since the beginning of May. We found downtrend in the last 24 hours as well. If this trend continues then $25K could be a major support zone. The month of May has just started and we will be able to predict where the market will go depending on the movement of Bitcoin in the second week. But I wouldn't worry with a little correction. This price may be recovered again with in this month.

Bitcoin went down $30K in a few days but there is no reason to worry, the price of bitcoin always goes up and down. Prices are expected to rise and long-term investments will yield good returns. Bitcoin sentiment This type of analysis helps determine the future price of bitcoin based on market sentiment. Here, various surveys and metrics are analyzed the sentiment is based on the statement that the market goes against the main trend. This is what we have now 75% of analysts expect BTC to rise.

no, a correction of $30k is not a reason to be a serious problem,
because a correction will make the Bitcoin price really healthy in the transition to a bull market,
if historically the Bitcoin price is bullish again ahead of the Halving, of course there is a possibility that this is the time for a Bitcoin turn to Bullish,
if $ 30k is passed again then I'm sure it will be bullish again.

When the price continues to fall of course we are worried because many say that the price will continue to decline, but today the market is moving positively and back again to $ 28k, I am optimistic that this week the price will reach $ 30k again, let's keep buying and don't panic if there is a correction because the price will be easy and fast to recover.

Now bitcoin is showing signs of recovery again after a few days of decline, but after I noticed that in terms of the correction, it immediately returned to its original point, only sometimes to reach $30k, it still takes some time after it has succeeded in the opposite direction, so the breakout can be more than what was expected maybe $35K is a good benchmark for further resistance.

The long-term expectation is no doubt we started for a long time but market sentiment always affects some investors who panic, while they can still hold and continue to do best buy analysis over a period of time then that's good.

Bitcoin is is now going step-by-step, running to bullish,the price of bitcoin always goes up and down. Prices are expected to rise, and long-term investors will yield the good returns of the price. Even  today you can see that the price was $27k and moved to$28k the market is moving positively and back again to $ 29k today, I am optimistic that this week the price may reach $ 30k again. Bitcoin has the internal force of being always ready to rise again at any time.Because bitcoin is not in any restrictive no framework for that, so don't doubt or fear Bitcoin will not rising again, keep buying don't doubt.Bitcoins follow the policy of demand and supply. No need to worry.

I'm not worried about the current market conditions because I'm focused on long term hold, I bought bitcoin in 2021 when the price was expensive which is above $40k, until now I've only sold 2 times for around 30%, if the current bitcoin price is around $28k of course I'm going to lose and better be patient while waiting for price to pass ATH ever.

I guess the bulls is still in control of the market, very volatile but then again, reclaiming $28k-$29k right now is a good sign specially for long term investors. For short term traders though, it might be hard to take advantage of the situation right now. Yes, it's volatile, but the pull back and jump is not that big though to be able to get a good profits.

Nevertheless, still a good start at this month, and I will not be surprised if we can also reclaim back that $30k and then stay at the price range for the duration of the month. And then making a break out run to $32k or another big dump, worst price I can see is $25k. So let's see how it goes, again, gonna be fun what May could bring to us.

totally agree, you have done your best by buying btc and holding it, even though the price when buying is higher than now, but btc will be able to reach a renewed ATH after the halving period has passed. holding btc really takes patience so that what you want can be achieved because btc is indeed better for long-term investments, although it is possible that it can also be done for the short term, it will be just as profitable if you keep watching every movement. congratulations you just need to be patient at this time that next year has entered the halving period.

When the price rises too high, many people will sell because they feel they have made a big profit, the current price is around $ 26k and March is the highest price record because the price reaches over $ 30k, and when the price is low like this, the best thing is to buy more, don't miss this limited and short opportunity.

You could always have the option on making DCA if you've been able to buy on the higher price but the price keeps on going down.Well it isnt something that could be avoided for you not to worry considering that

your portfolio is really having those deep reds but if you do have that kind of trust into Bitcoin and really that confident just because you are investing on the amount that you can afford to lose then you wont really be having these kind of emotions and feelings on which you would really just simply tending to accumulate it while its still cheap. We know that this market does have its ups and downs on which it would really be normal that there would really be times or moments on which its price is really something like this. Yes, we do able to touch up 30k but it didnt really last that long on which it would really be just that normal
that we do have corrections and dumps.

Thing here is that you've been aware on how this market behaves or works because if you do find yourself that wont be able to handle out this volatileness then i could say that this market isnt really for you.

It is natural that many people sell at high prices to take profits because that is the initial target of many people after buying at low prices. Although after that they also have to see another price drop to buy at a low price for further profits at another increase in the future. So there's nothing wrong with this because everyone who wants to make a profit will definitely take advantage of whatever moment they want to reach the target they have set before doing anything in the market.

More than 2 months the price is below $30k, of course this is worrying because there is a chance the price will continue to fall, but if we look at the long term trend then the best thing for now is to hold, I plan to hold for at least another 6 years and won't panic if the price drop even below $10k.

the plan to hold for 6 years seems to be quite long. are you going to buy now or already have enough Bitcoin. if your target is a long time ago, why don't you set a target price that you will achieve, or most easily target a new ATH. but if you hold on to 6 years it will be amazing. along the way you also need to make purchases regularly.

I make it only about 5 weeks below $30K, but anyway this is somewhat besides the point. It turns out breaking through $30K and maintaining that level was never going to happen overnight, especially after an already 100% increase from the lows within a few months. This is now the 3rd week testing the 200 WMA as support, so if it holds, it won't take long to get back to $30K and above imo.

I however think there's more of a chance of coming down to $23K where there is a lot of accumulation volume before reaching higher levels. This is where the 200 Day MA is priced, as by comparison there isn't a lot of volume around $25K to act as support. Notably the 50 Week MA will be trending back upwards next week with price above it for the first time since 2021, so it seems that the bearish trend is more or less over.

Regardless, this doesn't mean price is in a full blown bull market, instead only that the bearish momentum for now has subsided. The possibility of further sideways consolidation remains quite high, now that the short-term bull run momentum has ended and the longer-term bear market is no longer valid. Either that or the market returns to bear, but personally I find this unlikely, especially looking at the stock market.

Holding for 6 years is really that a long time but we know that there are people who could really be able to stick into their plans and really able to accumulate and hold it up on long time manner.But if we do talk about

in my case on which i did make hold some bitcoins but i do really make out some sell when it do reaches out new peaks on which it would really be able for me to accumulate some stable coins or something not that volatile and im waiting for the bear market which means that it would really be ideal on buying on that time but of course since i do have able to benefit on the time of those pumps then i could really buy
even more coins which it would really be that advantageous for me.

Rinse and repeat, sounds easy right? But its not because there's no way to determine about peak and bottom prices and this would be the primary challenge on the time that you would really be engaging with this market. Now we are really that moving sideways and there's no way we could be able to tell whether we would be reaching out 30k again or would really be having this continuous sideways movements
which might last for months.

Those who have bought very low or those who are afraid to keep holding longer will probably sell if they think the price is good enough for them and they will get enough profit from their assets if they sell, but those that have their eyes on the bull run and a new all-time high and have diamond hands will always keep holding even if the price drops again after going significantly high.

And when there are dips, the thing is, not everyone can always buy more because they don't have liquid currencies that they can use to buy more Bitcoins or other cryptocurrencies, that is the reason why most part of the general public doesn't like dips.

Didn't expect that more than 2 months the price could not go up or return to $ 30k, many were worried that the market would red again, but today the market rose by more than 3% and the price has reached $ 28k, and this makes me optimistic that in June the price could go back to $30k.

It's been more than 2 months the price has fallen from $ 30k, many say that this year the market will be in the range of $ 20k to $ 30k so we have to be vigilant and always observe market conditions, but if we focus on long term investing then the best thing is to hold long-term.

Why worry about this? Bitcoin cannot increase continuously; there must be a correction to be able to move on to the following paths. So this is also the accumulation period for a new pump, so the opportunity for investors to buy at this time can also be good. However, it can also be affirmed that it will continue to increase because the effects of the news brought to the market in recent times are not great. So wait for an explosion, as this will be a signal of which direction the bitcoin price will go in the next trend.

We must be aware that the price of bitcoin is volatile which creates price uncertainty under any circumstances, so a price correction now is an opportunity to increase investment, we have many options to buy Bitcoin and top altcoins to add to our portfolio, so avoid panic because a price correction in the crypto market does not make it's anyone's loss to stay holding on to BTC until the bullish season comes.

It's been more than 2 months the price hasn't gone up again, when it was March and the price could reach $30600, I was optimistic that the price would continue to go up and in May it could stabilize at $40k, unfortunately after the price was $30600 the price continued to decrease and now it's around $27k.

Holding for 6 years is very possible if you have something that brings income to you and you didn't invest more than you can afford to lose in Bitcoin when it was at its peak. Many investors that came into the market during the peak are those worried.

Asking them to hold for 6 years or more 2 years is asking them for too much from their point of view since most of them thought they'll just invest and get profits the next few months. Some people believe Bitcoin will pump in 2023 but that's because they have no experience.

If Bitcoin price was to drop below $10,000 we shouldn't still panic instead use that opportunity to buy more Bitcoin and keep holding. When it's the bull market, we'll benefit from the decision we took of buying Bitcoin when everyone is panicking.

Correction in the Bitcoin price is a natural thing, even though the price fell to $ 27k,
because the Bitcoin price really needs a correction so that the chart can form naturally, not pump and dump,
I still believe in Bitcoin because Bitcoin's strong support is still not broken, so the bulls will take switch hopefully in June.

correction is an opportunity so why worry if the Bitcoin price corrects from $ 30k?,
the halving is still 1 year away, to be precise, maybe in Q2 2024,
so it's better to focus on adding to the portfolio because we are still in the accumulation zone of Bitcoin price action.

Exactly, we have nothing to worry about the current market conditions, we are planning a DCA strategy of adding assets because the market is very volatile at the moment but it is likely to correct below 25k, but I really hope bitcoin never returns to 20k because of the bad impact on the bitcoin price before halving, there's no telling what the next low will be as bitcoin has been holding on to lows for the last 2 years.

DCA when it dips as long your budget or fund would permit you then you could always be having the chance to accumulate more cheaper coins and this wont really be that a huge issue for you or on someones whose

really after for long term and not really selling out anytime soon but instead they would really be buying up whenever the price do make out some correction.Price now is really that hard to read up(as always be)
on which on the time the price had clinged up on 28k then lots of assumptions already that it might be the start of the bull run but we've seen that it didnt pushed through but instead it do make out
some huge red candle afterwards or simply lost its momentum.

This is why it would really be that just right that we shouldnt really be minding much whether it would really be breaking 30k soon.It is really hard to predict as always where the price could move up
basing on TA but with some FA it do drops down which it is really that contradictory most of the time which is the hardest thing of all.

I think that's the point, if the price goes down a lot there are people who do not take advantage of that but instead sell. I never truly understood the mindset, if the logic is to sell before it goes down even more, then just wait for it to go down even more before you do that, you could sell if it keeps going down. I am not saying sell when it's even lower, I am saying just wait until it's lowering, if it goes from 28k to 26k, there is no logic in selling at 26, it's already there, you are already too late.

So instead people should be putting a stop loss order even lower, like 25.5 for example that means you are not too late, because if you sell at 26k then you will not see if it will go down even more or not, but if you put a stop loss at least you guarantee yourself you won't get any worse.

I think if you're going to look at the thread itself, the beginning assessment is that $28k will be our biggest support. But obviously it has been invalidated already when we had this problems with ordinals clogging the mempool and so the market goes down hard. And as we can see the price is just barely making it to $27k, so again, we are in a complete trend now as everything has change a lot since the OP has started this thread.

But as far as doing stacking sats yeah, DCA is the best strategy, big investors and even average joe are into this strategy, because it a foul proof and it's going to work in the long run.

If you are a long term holder then this wont be an issue but if you are a day trader,swing,futures then every movement does count. Being worried on what would be the next price movement is really that very common to those who are making short trades. Corrections is part and now its seems that 28k is really a strong resistance and after that we do really need to break that 30k point before we would be able to proceed on higher numbers.Reason to worry? As long you dont close your position or sell it out then it would really be just that a paper loss and as long you dont close it then its not considered losses.
Reason to worry?  If you are going for long term then this isnt something that you should be putting up yourself on such situation.

If you have good understanding of market behavior, there's no need for us to panic in the market because the price is doing what is expected of it and until we start breaking some important key levels in the market downwards which we have not. from my point of view and what I got from my analysis, wether we have the event of ordinals clogging the mempool or not, TA already pointed for a pull back towards $25k, the mempool clogging event was just a catalyst to help Bitcoin price get to its long overdue pull back to $25k since after the price broke above $25k- $30k, if you had check on my past post here on speculation, I have been calling for a re-test to the level we are right now.

If we should get a further correction, the important key level to watch is $24k and the market should be getting a rebounce from there in order for Bitcoin to continue its movement heading forward.

But unfortunately, too many people don't see that. If you follow all the price discussion threads on the forum, most people expect bitcoin to rise soon, no one wants bitcoin to drop in price to accumulate more. I don't know if people are already too rich and like to buy high prices or if people have accumulated enough bitcoins for themselves. But the price increase of bitcoin would be meaningless if we did not have bitcoin.

I think that is basically because they are new to bitcoin or they are traders. There are 3-4 different reasons people could sell during a dump that is not panic selling and we need to see that as it is before we judge others. First of all, if you have a long future then it will be cashed out, which sells bitcoin and gets USDT or other stable and that drops a bit more, if too many longs are cashed out like that, the price drops, that's one reason.

Secondly we have traders who end up with selling when it's low but selling when it's high too, they just buy and sell, whenever that fits their situation they will do that, it's not panic selling, they might buy back in a minute too we don't know. Thirdly we have stop loss, people could put an order at a bit lower, and it could automatically sell, it's not panic selling, they put it at a price they think it's fair, and then maybe even rebuy after it goes down some more. So there are a lot of ways people could sell without any panic selling.

I think that is everyone's mindset, we don't want our assets, not just bitcoin to go down and see our the profits of our portfolio going down. But we all know how volatile bitcoin is, as we have the bear and bull market that happens every 4 years and it's a cycle.

Looking back at this thread, the OP says the strong support is $28k. But we've seen the price going down even further a bit to $26k, which now becomes our strong support. Hopefully though we can get back to at least that price levels. In the last 24 hours, their is some minor movement above $27k and hopefully we can maintain it.

The current price is around $ 27K and has been more than 2 months since March the price has not been able to touch $ 30K, hopefully this is not a sign of the market again because there has been no big surprise for 3 years, I am optimistic that the price will rise at the end of the year because it will be Halving occurs which makes the surge in Bitcoin demand increase.

No, I'm not worried about a $30k correction in Bitcoin, because a $30k correction is part of a healthy upside and I agree with that.
Bitcoin still has a long way to go and if you expect pumps and pumps without correction then it will be a disaster if the bubble has already burst,
just like what happened in 2017 that Bitcoin was said to be a burst bubble by experts.

We have convergence (https://talkimg.com/images/2023/06/12/ANJUP.png) of moving averages right now and longer term recovery in greater time lines.  There is nothing to worry about in that respect, not much is happening presently so little fear is due from that till we break out either up or down.
   If we trace the ATH down to the low of about 1 year ago, we can see a little recovery occurred but not enough to pass the 23.6% Fibonacci level to that possible recovery.  We have the idea of positive movement, the staging perhaps but not the main body ignition to any larger scale launch.   Preparation is likely this whole year I would guess,  just be patient and be ready for highs and lows to be repeated we can hope some trend develops over time.

When trading we have to be calm and have to control our emotions,
as well as when the Bitcoin price is undergoing a correction from $ 30k to $ 26k,
that's when we use our calm to analyze it again, is it time to buy or time to stop loss, and yes it depends on your decision,
what is certain is that you have to be wise in trading.

Did not expect that today there was a correction which I think was big, the price corrected more than 4% and made hopes that the price would soon touch $30k has not been reached, hopefully this is not a big panic that has ever happened like the LUNA or FTX case, and I'm still optimistic that June price will pass $30k.

Bitcoin is very different from Luna and FTX mate, you have to distinguish about that,
FTX and LUNA are bankrupt because their project made a mistake and their CEO became a scammer,
but Bitcoin doesn't have a project and doesn't have a CEO, only community and mass adoption makes Bitcoin grow ,
so don't worry, even though the Bitcoin price is below $ 30k again, it's still safe for investment.

Also, more relevantly, the recent lawsuits against Binance and now Coinbase is completely different from the FTX situation. FTX went bankrupt as they never held their reserves 1:1, whereas Binance and Coinbase appear to be relatively solvent (only time will tell of course). Looking at exchange balances (https://www.coinglass.com/Balance) of Bitcoin for example, investors/traders aren't panicking and withdrawing lots of coins from these exchanges right now, instead it's likely they're trading this news or buying the dip even! The only real concern will be if they lose their lawsuits in the future and this ends up bankrupting them, but I think it's unlikely personally.

Ultimately we only saw a -5% decline yesterday, which isn't very significant as a form of panic selling or capitulation. Of course price could drop -10-20% within a single day or by the end of the week, but so far the correction looks relatively tame, with few people really panicking who may be expecting the worse such as re-testing the lows around $15K or falling lower.

From the indicator which I'm using that has helped me captured end point of so many BTC retracemet/pull backs, it is once again flashing a strong buy signal in the H4 time frame and if I do get a signal on day time frame I will definitely do what I did the last time this signal flashed on the D1. I do see all these news events as to cause more panic selling because I sense something big on the way, So in such an event like this we may soon get a quick market reversal anytime from here, selling at $25k for me isn't the wise thing to do right now, rather take your eyes off the charts, wait and be patient for a while.

On the time that you had stepped your foot into this market then you should really make yourself that be prepared for whatever situations that you would be able to face or experience on specially on dealing with something which is really that volatile. Pumps and deep corrections are really that something we could be able to experience on point with or without any solid possible reason behind.
This is why applying out some fundamentals would be common but it would be more when you are really that having  those TA analysis.

We've been correcting on $30k price on previous months i do remember on which we do have that kind of impression that we might be able to break prices further. It did failed and make out some
rejection into its price and now we are sitting below these levels and making up some these movements ups and downs for how many months now. The question about
are there reason for you to worry? If you are really make out some futures trading then you would definitely be having but if spot and long term
holds then it wont really be that much of an issue or a concern.

Indeed. If you plan for a long-term investment, you don't need to worry because the price drop temporarily. In the next few days or weeks, the price probably increases again gradually. And in the next few months, we may see a significant change in the price. The price drop/dump is normal, it is needed to reach the next higher price. After we have some pumps previously, it needs time for corrections. After this drop and sideways are over, we may have some pumps again in the future. Regarding the chance of the price drop to $20k, I think it won't happen. The price looks trying to stay above $25k, today it returns again above $26k. If the price never returns to $20k, we probably won't have a long time to pass again $30k.

Do you one thing I like bitcoin with is because of Bitcoin does not have a specific time of increments a specific time of the decrease so bitcoin can increase today and fall tomorrow, it depends the force of the market at that particular time because the price of Bitcoin does not have iteration so I believe that people who knows about bitcoin does not panic when the price goes below their expectation or when the price increases and fall to a certain point that they did not expect for it to occur

Correction of price is very much normal and nothing  to be worried about!

If anything, price kind of moves in a way that an earthworm moves...to go forward it has to kind of contract and make that catapult effect to go forward..Same thing with our bitcoin price, to go up price needs to find liquidity at these bottoms to build momentum to break any barriers  at the top that are keeping it from breaching this new price. So for now lets just hang in there, sooner or later new highs will be registered.
My vote:NO

It is all yours that is the price of Bitcoin might come above the 30k of correction, the progress of Bitcoin start with information there is information that will come from bitcoin today you will see the price of Bitcoin will automatically change from the price you are seeing it right now to another price that will be appreciated to any investors, I don't kick against be worried from my own perspective, but I believe that bitcoin price can be restore or surprise people during the time it will experience a bullish market.

I think the point is how the correction is going to happen, it is drastic make down? Just like what we have seen in the last 24 hours, the price suddenly goes to the high of $25k because SEC decided to go after Binance and accused the exchange of so many things illegal.

But there is also a catch, it could be manipulation as the price recovered from that upside and suddenly as if nothing happens, went to it's previous price before this news to $27k. Is this manipulation behind or this price action is natural and organic?

Recently I often read news on social media such as Facebook and Twitter that the SEC issue is alive again. I don't know for sure whether this is the news or issue that has made bitcoin prices tend to fall lately. SEC is like pulling bitcoin down below $25k but bullish pulling bitcoin up above $30k, in the short term bitcoin price will remain in the $25k - $30k range.

I think there is nothing to worry about corrections. There is only one thing to be scared of and its real dumping. It I think only happened in covid era with Bitcoin. Even at top of last rally bitcoin didn't experience huge dumps but all corrections following each other. I personally hold low amount of Bitcoin in my wallet right now because I don't think this price would be profitable level to enter. Anyways bitcoin is strong and steady in my opinion. Next year we may experience very good rallies that will make us completely forget about these 30k price levels. At one point we will return back and smile because we were "too" worried.

Why people do freak out? On trying to look on how much percentage of the drop that recently happen, then this thing is really just that an ordinary day here on Bitcoin. It is really just that
there are people who doesnt really like to see those huge swings on a short time without even trying out to look back that this had been a typical or normal movement of Bitcoin or in overall
crypto market or space on having this kind of movement on which it isnt really that shocking at all. Dropping below 30k isnt really that something that you should really be freaking or panicking about
because we've been even on 20k price and that moment on which we do struggle on breaking that point on where it do moves sideways for some time and now we are really that on a similar situation
on which the price is really that having stagnant behavior. We cant really be that able to predict on what are the things that would happen along the way. This is why it would really be that always
ideal that you should really be accepting on whatever prices that would shoot up along the way.

I am not worried about the current price conditions, the hope that the market is immediately rising because these days are negative issues about binance that experienced a crisis, but I am sure that the binance case will not be like FTX, and it is proven that all withdrawal transactions that I do are all not a problem.

Clearly most people weren't concerned by a correction from $30K, especially after the substantial increase from around $15K. I'm not convinced this will be the same if $25K doesn't hold as support so may well do a poll if this happens. I suspect the correction will go deeper and there could be significant panic selling if price breaks $25K, until another support level like $23K supports the price.

Obviously this can happen because the support is broken, then panic selling will occur.
Bitcoin hasn't really experienced a dump because it only fell -4% or -5%, but the impact it has on altcoins is extraordinary,
look at the altcoins that are bleeding a lot these days.

If that happens, the more bitcoin falls, the more excited I am because there will be a lot of panic sellers, and that's an opportunity for us to own bitcoin at a cheaper price. Be greedy when others are fearful.

And if that happens, then altcoins will be even worse, and I suspect that many altcoins will be gone forever if bitcoin is dumped below $20k again. The past 2 days have been terrible for altcoin holders, most of the shitcoins have dropped 10-20% in the last 2 days. It was a terrible drop while bitcoin and ETH fell not much. Altcoin holders will finally understand what is the best investment this bearish season.

Obviously altcoins will take a greater hit of it, if we eventually get a further drop from here, maybe worst case scenario, we head back donw to test the previous low of $15k which is less likely to happen. In as much as there's gonna be pain in the market seeing your portfolios on red, but there's also a great opportunity there for people to get BTC below $20k if you have reserved cash or a new investors looking up to dive into the market.

Altcoins have been hit hard because the SEC charged them, the SEC declared all altcoins securities, but they ignored bitcoin. That caused panic in the altcoin market.

If bitcoin falls below $20k again, there will be more panic selling than buying, and I think only experienced people, investors who have been through previous bear seasons, will feel the excitement and buy bitcoin. I doubt newbies will buy bitcoin at that point, and that is the difference between successful and failed investors. Many people didn't buy when bitcoin dropped to $16k last year, and I believe they won't when bitcoin drops again.

IF Bitcoin goes down to $15k or $16k again it will cause a panic sell for retail, but for whales and companies I'm sure they will buy,
it will be like 2020 before bitcoin to new ath bitcoin has plunged at $ 6000, that's why we also have to know how the market reacts.

Half a year has passed and Bitcoin's highs are in the $30k area, and actually before the recent correction which caused the price to fall back below $30k before this has also happened in the near future when Bitcoin was moving with a small bull, but at the previously we were able to return to high levels in the current year and this correction occurs several times in the near term.

So we think for now it's a correction where the price stays below $30k in the time frame which is probably not that much longer than the previous recovery, but basically we don't think this is cause for too much worry for a trader or an Investor, and to be honest we prefer to take advantage of this good time than we have to worry about the price which is still in the process of moving up and down.

If that happens it means there was a big crash that sent the price down in the $15-$16k range, and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn, but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.

The good thing is that $25k seems to be holding, as this crisis (I call it crisis since it SEC case has affected the whole market, not just bitcoin, although other coins are bleeding very bad).

So for now, we can say that we are now clear and everything has settled down a bit.

No more panic from the market, prices is trading sideways, and it could signify that,

- there is no buying/selling
- there is buying, but at the same time there is also that sells
- there is selling, but at the same time there is also that buys

If that happens it means there was a big crash that sent the price down in the $15-$16k range,
and maybe it's true that it could be whales and companies to pile on while the market is in a huge downturn,
but to be honest it's now over $20k and under $30k we think this is still in the Bitcoin zone where the price is lower than before the correction that occurred some time ago.

Until there are people who have got their Bitcoin for few dollars and thousands, there are no reasons to worry. In fact, Bitcoin has been growing for 5 months already. Take a look on a price that was in December. It was significantly lower that it is now. I see no reason to worry or cause panic. Learn to wait, to hold. If you expect that the price will only grow, then you are wrong and right. In general, price is growing since 2012, in short period, it is fluctuating.

Lots of people been expecting or anticipating for the price to go down on 10k-12k which we know that it is really that still far off but since we are on a market which is something that cant really be predicted,

then chances would really be there. We did touch up 30k wayback in previous months on which we do really have that kind of hopes that this might be the start of recovery but it seems that we are wrong.
Instead it do failed up on having a breakout for this kind of point on which the price keeps coming back and touching these levels but failed up on breaking it out.
This is why it would be better to make out some play about these movements because you wont really be needing to wait up for long before you could make profits
out of these volatility. Just really be sure that you should really be wise on doing so.

Tipping over the 50% level between March low and the April high.  I do think we need to challenge and confirm Feb 2023 prices as some support, if that area is not able to provide support to BTC price action currently then we may see the full range of about 20k occurring though I think thats less likely to occur right now.   Every move like today has some elasticity to it in that it can reverse and almost wants to trade the other way when energy of the move is fully dissipated, we dont know that can happen yet or where as its hard to gauge the energy to this sell but its fair to look for the attempt upwards and judge strength from that.
  Anywhere below 26k even if we do recover is an ongoing negative development to watch and I do still think the range of prices down to about 24k will register as some harder ground for a foothold.

I think the normal thing to happen is if it's going to drop below $15K, of course this could be the momentum where the opportunity for bitcoin to prepare itself increases afterwards.
bitcoin will continue to do things that are hard to predict when the market hasn't really recovered, so if it is going to drop to the current situation where the halving era hasn't arrived yet is a normal situation. believing that there won't be a big crash if the price corrects is precisely the right time to keep buying and holding until the bull market comes.

Frequent market corrections certainly give us the opportunity to buy more at a low price, as happened last week when the $24k price certainly made many regret not buying when the price was low, and I'm sure if we don't buy now at the price $30k then we will regret it when the price reaches $40k or more next July.

Have now locked this poll and topic as Bitcoin has since recovered and returned to >$30K, so based on the original topic, the poll and discussion no longer remains relevant.