The slow 5 days of green ended in less than 5 hrs.

[BitHodler]

Interesting move here, and quite an ugly daily candle. I'm not really sure if this is a shakeout, or if that was a legit top. These types of double tops (with long consolidation in between) are rare, but not unheard of.

It was a rejection, nothing more nothing less. I was expecting it to happen before it happened, and it did. Admittedly, it was a large red candle on the daily chart, but it found support at the exact level of the first pump.

What I will be paying attention to is how the Ethereum fork plays out. Bitcoin will definitely mirror Ethereum's move based on what's going to happen there. I would say $4000 test best case scenario for Bitcoin, and $3500 test worst case.

[Bagaji]

I thought the slow price increase of Bitcoin is a sign of a Bull market but I was wronged, it happens so fast. I'm deciding to invest $1000 yesterday, thanks God I didn't. It seems spike increase nowadays are so scary as it follows a downfall afterwards.

New strategy learned, ride the slow price increase and wait for the sudden price increase within a day then sell  .

Many who are in your type of deciding when the market start up always end up losing because that is not the best or rational strategy to take expecting profit. Now that the market is down is the best time to invest but many are afraid maybe the market will decline further which may not be so at the end.

[ololajulo]

There is no price within these bull run recovering days that is not good, $4500 is even a good price, just that every trader into bitcoin should think long time maybe into 2021. Bull run does not mean the sideways wont happen it also give an Idea of how long and strong the market is, is a correcting process.

[Bagaji]

New strategy learned, ride the slow price increase and wait for the sudden price increase within a day then sell  .

That doesn't apply in every increase, but if you think you can profit even a little and doesn't care if the price will still increase then that's win win strategy than holding IMO.

This is crypto market, that sudden decrease is not a new thing, it can even do in just 1 hour or so.

That's definitely not any sort of strategy for the future--the price just happened to behave like this and there's no guarantee it'll act the same in the future.  I get the feeling OP is setting himself up to lose more money if he thinks his plan is going to work next time we see a slow gain over a few days, but who knows.

On a positive note, btc is back around $3800 right now, and I'm glad it didn't fall any further than it did.  Could have been much worse.

A vivid look at the chat shows that there maybe further decline because, the support level was breaking except if something good will happen in the market that will make it gather momentum for an upward trend again. The worse could still happen bro.

[omonuyak]

This is how we have see it yesterday and it was very surprised to me.  Bitcoin lose around $300 in just an hour and it very difficult for people to take little profits from the pump we ensure of lately.  I think we just need to be able to endure with this market in other to be able to make profits.

[Bagaji]

This is how we have see it yesterday and it was very surprised to me.  Bitcoin lose around $300 in just an hour and it very difficult for people to take little profits from the pump we ensure of lately.  I think we just need to be able to endure with this market in other to be able to make profits.

I don't think it will appropriate to refer to the recent increase in the market value of Bitcoin as pump as you right put it. I see it as a normal increase which could be attributed to some good news that has happened to Bitcoin in the couples of days/week back.

[bitcoin31]

Im shocked yesterday when I saw the dumping market again almost $300 the value that decreased of the bitcoin. From $4100 to the $3700 plus and we don't know that happened in the short period of time that's I don't like happening in the market after waiting longtime the value of it decreased fast.

[kaya11]

bitcoin continued to decline. the cow won . I lost $ 100 USD   I was unable to place an order to withdraw it in less than 5 minutes -10 %

We are far away from being completely happy, you should've sold them wile you have the chance. But still if you are willing to hold more onto it there might be some green days to come, I hope it will just be a minor push back.

[susila_bai]

If you see the market movement chart of 2016 then you will see that when the market bottomout the market started to move up and then it will go down half, like if the market is up 10% then the market will correct 5% and then same way it will go up. So i think this correction is expected as market moved up 30% and it was knowing that short term traders will take profit. If this movement goes same then we can see next up market moving above 4500+. so dont be sad of market going down, always buy when market is down and sell when it is moving up.

[wendiar19]

If you see the market movement chart of 2016 then you will see that when the market bottomout the market started to move up and then it will go down half, like if the market is up 10% then the market will correct 5% and then same way it will go up. So i think this correction is expected as market moved up 30% and it was knowing that short term traders will take profit. If this movement goes same then we can see next up market moving above 4500+. so dont be sad of market going down, always buy when market is down and sell when it is moving up.

indeed, price movements in 2016 can be said like that but you must know the price movements that occur in 2018 and 2019 will not be like that, the price movements will be different from year to year and no one can predict the price movements of bitcoin.

[Ozero]

Hardly the next time Bitcoin will behave in a similar way to use the strategy you specified for the period of its sale. However, in general, this is a good tactic. Now bitcoin is unlikely to be able to rise for a long time in its price and therefore it is possible to use its price surges. However, it is better to do this in parts, so the risk will be less.

[TheCoinGrabber]

I must admit, even though I keep telling my to wait for it to get back to 6k before selling, I was tempted to sell at 4k. Well, guess I missed the chance and have to wait some more.

Lol, me too, I was tempted to sell some of my stash because I wanted to buy something and then whoahh, suddenly the price goes down that fast, I miss the opportunity, but anyways, I'm not in a hurry to buy that item though, so yes, we have to wait a bit further.

But the slide, was really fast though, matter of minutes as I was monitor it, don't know what triggers it, hopefully we may have to try to get back that $4k - $42xx range again.

I too am clueless since there seem to be no big news that caused it but maybe it's just people trying to exit when they saw a slight increase?

Me I'll be waiting for 6k, I just don't know how long I'll have to wait.

[Siren]

I thought the slow price increase of Bitcoin is a sign of a Bull market but I was wronged, it happens so fast. I'm deciding to invest $1000 yesterday, thanks God I didn't. It seems spike increase nowadays are so scary as it follows a downfall afterwards.

New strategy learned, ride the slow price increase and wait for the sudden price increase within a day then sell  .

I can celebrate with you mate coz i also planned to buy again and just waiting fore $4,500 mark before putting another investment
Lucky that after an hour the prices drops again

And you’re right that this is another strategic experience for us whos eager to re enter the market again

[jhongzjhong]

I too am clueless since there seem to be no big news that caused it but maybe it's just people trying to exit when they saw a slight increase?

Me I'll be waiting for 6k, I just don't know how long I'll have to wait.

No doubt that small spike price will go down after that, probably they want quick profit instead of waiting for the right time to sell. Well, we can't blame them because they are not real crypto enthusiast they didn't know the real mean of blockchain technology. Yes, patiently wait the right time is the key to having a huge profit. Do not do panic selling.

[$anounimus$]

I too am clueless since there seem to be no big news that caused it but maybe it's just people trying to exit when they saw a slight increase?

Me I'll be waiting for 6k, I just don't know how long I'll have to wait.

No doubt that small spike price will go down after that, probably they want quick profit instead of waiting for the right time to sell. Well, we can't blame them because they are not real crypto enthusiast they didn't know the real mean of blockchain technology. Yes, patiently wait the right time is the key to having a huge profit. Do not do panic selling.

most people who know cryptocurrency only think of cryptocurrency as a place to trade and a place to make huge profits so that when their thoughts about cryptocurrency and blockchain technology are wrong then they will be very difficult to be able to benefit from it.

[buwaytress]

@OP: Didn't the last period of "stability" around 6k teach you anything?

1. People think lack of activity means consolidation and consolidation means we're preparing for a bull run.
2. People think markets react to good news like JPMcoin (I still can't believe they took credit for last week).

Market does what it wants, recovery and bull talk... that's best left alone till we clear out all the hype. I know, hard to believe but yes, still too much hype floating around.

[hungafub]

I'm honestly starting to believe this space is manipulated. Only in crypto does the market move up some points in a couple days only to crash down.

[freedomgo]

I'm honestly starting to believe this space is manipulated.

I'm glad I have a friend here, lol.
I also believe that market is manipulated, crypto can go up and down anytime, even without any reason.
That's what whales do, they can create hype and FUD and they will do the opposite on what we believe, just look at the recent pump, it ended up with
a sudden pump, when it was pumping, people are already believing their dreams will com true but it did remain a dream until now.

[Wilhelm]

I'm honestly starting to believe this space is manipulated.

I'm glad I have a friend here, lol.
I also believe that market is manipulated, crypto can go up and down anytime, even without any reason.
That's what whales do, they can create hype and FUD and they will do the opposite on what we believe, just look at the recent pump, it ended up with
a sudden pump, when it was pumping, people are already believing their dreams will com true but it did remain a dream until now.

This is probably because there are some whales with big stash playing the market (pump&dump).
The more people in Bitcoin the more Bitcoin will be in circulation instead of in the hands of whales.
The more spread out the less influence a whale can have.
The less influence whales have the more stable Bitcoin will become.

Metaphore: Currently it is like whales have 1000 trillion on their bank account to play around with. This causes volatility.

[goaldigger]

I thought the slow price increase of Bitcoin is a sign of a Bull market but I was wronged, it happens so fast. I'm deciding to invest $1000 yesterday, thanks God I didn't. It seems spike increase nowadays are so scary as it follows a downfall afterwards.

New strategy learned, ride the slow price increase and wait for the sudden price increase within a day then sell  .

This is always happening in our market now. We dont know if it is just the bulls or just a normal pump. The value always pumps up for as long as a week then goes back to its marginal price. This is why the price are observed within a month because even a week is not reliable. Dont worry, this is just an implication of a healthy market.