expecting correction?

[1Referee]

Not yet. That however, doesn't mean we can't dip slighly below $1200 for a short time. I expect the price to remain its position between $1180-$1280 until we know what the result of the ETF is next Saturday. From that point there are two scenarios possible;

# ETF gets approved; Short term peak to possibly $1400, where after that the price will likely settle somewhere between $1100-$1200 for a while.
# ETF won't get approved; Short term sell-off to $1000 as ultimate bottom.

Whatever happens, just ride the market and benefit from the given opportunities.

[1715010512]

1715010512

[1715010512]

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[Skarner21]

The fact there is no who can tell the exact days and the price of bitcoin.
better to use this tools for monitor and use their tools for analyzing https://bitcoinwisdom.com/markets/bitstamp/btcusd
And make your own margin just set a margin everytime the price is increase you sell 25% if the price will increase again more.. sell the 25% again just repeat if the price will continue.. if not and the price is going to down so the exchanged you can buy bitcoin again and sell to the new margin..

[d5000]

Correction just happened.

Correction still happening imo!

What correction? A tiny 1,7% drop in such a steady bull market is not a correction

We're not even close to fall out of the "third gear" trend channel - that wave that goes from ~915 to the actual level. The price tried to break out to the upside and cross $1300 but failed.

A real TA-based small correction would bring us back to the "second gear" - that's the price channel that begun at ~735 USD. That would mean a bottom of $1100. But at the moment I think the price is fundamentally driven by the ETF speculation - so on March 11 or 13 there may be a even harder correction. In the worst case, back to 735 or 780 - but I would expect more something about $850-900 - back to the "first gear" of the actual bull market.

[jjacob]

I don't expect a trading pullback below $1100. However, if the ETF gets rejected, I expect the price to drop to $900.
This entire rally has been built on speculation about the ETF.

[hase0278]

I am really expecting some correction before pumps occur again. I guess the correction will be between 1000$-1100$ but it will not be lesser than that until ETF has been decided. If it is rejected we might go under sub 1000$ but if it is approved, I guess we will see another one crazy pump that will happen for hours or so on maybe a day. Let's just hold for now and be wary for bitcoin's price movements so that we can dump at the right time.

[Zadicar]

Correction would be on $1000 or less maybe on 900 and wont come down even more. If the news on this upcoming march 9-11 would affect theres only two possible results its either would drop or rise. Im waiting for that event to happen and lets see how the price reacts.

[cpfreeplz]

$1000 is the lowest option? If the ETF doesn't go through I'm thinking $900s, if it goes through we'll see steadier prices, maybe even a rise.

[RoommateAgreement]

i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.

for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.

we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it

[RoyBatty]

i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.

for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.

we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it

I'm with you. Maybe I'm naive, but I honestly don't anticipate more than a 20% drop AT MOST if and when the ETF is rejected.

[pooya87]

i wish people in this board stopped just random guessing and added some thought before posting and explained why they say something.

for example why in the world are many of you say price goes down to $900?because so far every single person who said it, just said it randomely.

we all know ETF is near but do you honestly think it can cause a 30% drop?!!! i doubt it

I'm with you. Maybe I'm naive, but I honestly don't anticipate more than a 20% drop AT MOST if and when the ETF is rejected.

most people are just spamming in this board, they read something above or in other topics and just repeat it, it is the same as copy pasting but with your own words. and some others are just saying their wishes since they missed the opportunity to buy and now want a dip to buy back.
but it is not all, you can see some rare comments like d5000 above that have some good points. although i disagree with it but at least there is some value to his comment.

[cracxme]

If ETF gets disapproved price will not fall back below $1000 as many people think, it will be something between $1050-$1100.
As we can see past 2 months graph BTC getting resistance and setting new floor above $1000 so going down below $900 or $850 is not expected.

On the other hand , if ETF gets approved then BTC will not reach to moon immediately because investors will take some time to research before putting huge money in new resource and technology, so it will take around 3-4 weeks before any huge spike in price.

[ArdiPrabowo]

bottom price or support bitcoin price still wait about announcement ETF from usa and PBOC from china
if result not aprove bitcoin price can crash and bottom price can under 700 dollar/bitcoin

[~Bitcoin~]

I have voted for $1200 and i think it is quite possible, price is getting some correction right now and i don't think this correction can brought price below $1200 level.

[alyssa85]

The real correction is on 11 march

It will happen before that date - nobody waits till the last minute to take profits.

Here are some events coming up:

On 9th March it will be one month since OKCoin and Huobi suspended bitcoin withdrawals for Chinese members, pending AML checks. Here is the latest info on this:

https://cointelegraph.com/news/bitcoin-price-pushed-by-okcoin-getting-ready-for-relaunch-china-money-supply-increase

On March 1, OKCoin told their users that the exchange is approving the transfer of user funds stored on the global OKCoin trading platform to their Chinese site because the company’s .CN platform is nearly ready for approval by the PBoC and relaunch.

Earlier in January, the PBoC asked OKCoin and Huobi, two of the largest Bitcoin exchanges in China, to suspend trading until their Know Your Customer (KYC) and Anti-Money Laundering (AML) systems are overhauled. The abrupt termination of OKCoin Bitcoin withdrawals stemmed from the PBoC’s initial warning sent out to Huobi and OKCoin on Jan. 18.

At the time, OKCoin operators announced a time frame of one month for the completion of their KYC and AML system update, which meant that users would not be able to withdraw their funds in Bitcoin or Litecoin for 31 days.

However, OKCoin emphasized that the one month period could be either shortened or delayed depending on the development of their new industry-compliant AML and KYC systems. Since an AML and KYC update essentially led to the renovation of the entire platform, OKCoin and Huobi weren’t capable of providing a fixed date of withdrawal approval.

The ETF decision is going to be on March 11th

The Federal Reserve will meet on March 14th-15th and is likely to raise US interest rates. the dollar usually strengthens when they do this.

So a lot happening in the next week or so.

[york780]

Thanks for sharing. So this week the chinese will be back in action. ETF and US dollar news. Or a big pump or a big dump. We will see. I hope that i am standing at the good side of the line. This week is esensial for the year price of bitcoin.

[micalith]

zoom out more, like to the 1day candle chart on bitcoinwisdom. Then it looks more like somewhere between 920 and 960

[HaXX0R1337]

I have voted for $1200 and i think it is quite possible, price is getting some correction right now and i don't think this correction can brought price below $1200 level.

The rally is just because of the speculation that ETF will be approved and the chances of approval is just below forty percent and i think the price could fall back below the thousand dollar mark as there will be a major sell off when there is a panic involved with the rejection.

[york780]

i agree with you. We will be the laughing ones after this week. The time to strike is now! They are all laughing at short term traders. But i have increased my coins with almost 40% because of efective trading.

[Febo]

$1200 is not a correction.  that is only few % fall.
Correction will happen on 13th March. and it will be like 20-30%. so price will go to about $1000.