Pullback vs Corrections in Market trend

[IceLincoln]

In the recent market review there are some terms we’ll be hearing often and it’s important you understand this fully.
Often times I discuss with friends and some tend not to find any difference between the two but I think there’s a slight difference depending on how you’re viewing it.

What’s the difference?

Some articles you might see online also don’t really see a distinction between a pullback and a correction, but there are slight differences. People often just take them as same thing.

The major difference is that a pullback is a minor short-term price movement. It is a price decline of 5-10% and happens in a larger uptrend and it creates opportunities for a buy.
For example, Bitcoin dropping by a couple of thousand dollars can be considered a pullback, but not a correction, Just like when it dropped from 99K to 92k recently.

A correction, is a more prolonged and significant phenomenon, often occurring after a sharp rise or fall. For example, look at Bitcoin’s behavior after hitting an ATH earlier this year. It rallied nearly uninterrupted from $25K to $73K, then corrected down to $48K before climbing to the current levels.

Traders typically define a correction as a drop in value of 10% or more. This drop can happen over a few hours or a few days. Also, it can last for less than 24 hours or many months.

Timeframe is a crucial factor. A correction on a 15-minute chart might not even show up on a 4-hour chart. Similarly, corrections on a 4-hour chart can often go unnoticed on daily or weekly charts. Corrections can also be seen as a trend reversal depending on the time frame ur using.

[Barikui1]

The major difference is that a pullback is a minor short-term price movement. It is a price decline of 5-10% and happens in a larger uptrend and it creates opportunities for a buy.
For example, Bitcoin dropping by a couple of thousand dollars can be considered a pullback, but not a correction, Just like when it dropped from 99K to 92k recently.

A correction, is a more prolonged and significant phenomenon, often occurring after a sharp rise or fall. For example, look at Bitcoin’s behavior after hitting an ATH earlier this year. It rallied nearly uninterrupted from $25K to $73K, then corrected down to $48K before climbing to the current levels.

Traders typically define a correction as a drop in value of 10% or more. This drop can happen over a few hours or a few days. Also, it can last for less than 24 hours or many

Bro, try not to confuse others here, I am a trader as you and when talking about a correction or a pullback, they are mostly the same thing, it all boils down to the timeframe it happens.

A  retracement, pullback or correction that happens in 15minutes, 1hour, or 4hours can last for a while when it encountered a support or a resistance, but a retracement, pullback or correction that happens on a daily, weekly or monthly timeframe can take a very long period of time to continue it upward or downward trend, so in essence of what am trying to say is that they are all the same thing, just that the timeframe it happens is what determine how long it's going to last.