BTC movement after today flash crash

[figmentofmyass]

I like these pullbacks they allow the bitcoin price to increase keeping out all the FOMO.

hardly even a pullback on the daily chart yet. 7 big green candles followed by one doji. with 5 hours left to the day, bulls might even close this candle green too.

i'm pretty amazed at the lack of real dips---no 50% or 62% retraces, just bull flagging the whole way up on a $3000 move. that dump this morning was only a 23% retrace.

we could go down to the low $10000s and it would still be "normal" for an uptrend.

[goinmerry]

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

Are you aren't happy that BTC breaks $10,000 level again? Do you really take the $12,300 to $11,600 as a big deal?

I wonder where are you these past weeks.

If you are not planning to sell your coins at least for now then relax somewhere else and take a vacation. Don't take watching price monitoring too much as it may affect your ability to think properly. Your funds are at stake if you get panic.

[1Referee]

I find it hilarious when people are quietely enjoying the run up and even consider it a normal event, while if the price is going down because traders are cashing out profits (which is perfectly normal after a significant increase), people go nuts and think it's manipulation and whatnot. 

I would be worried if we go up in a straight line without these minor down movements. The more people unload at these levels the higher the price floor becomes, at least in the short term. Don't forget that for every seller there is a buyer.

OP probably had his 1-5 minute chart open and saw a massive red candle, which might have given him the impression that there was a flash crash. Working with 30-60 minute charts is a better option moving forward and much fewer 'flash crashes'. 

[leowonderful]

The recent 'crash' wasn't even that bad as long as you weren't FOMOing into a long while things were going up- things dropped right back down to where they were before at the $11.7K range, and we've had another little dump today down to $11.2K that was a perfect spot to enter into a long or add to any longs you may already have. Not too shabby for BTC, and as others here have said, that's just one red daily candle after seven consecutive green candles up from the mid $9ks. That's just how BTC goes.

[arpon11]

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

It might fall back to test $10800 before resuming its uptrend again. The pump to $12,300 is not sustainable because it is not backed up by equivalent volume. The movers of the trend were purely day traders and you know it is always very hard for them not to take little profits and pushed price downward in other to be able to rebuy again. Bitcoin will grow back but that is when the whales and investors are assured that it will not get dumped and pumped every days.

[deisik]

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen

Get used to these crashes (and embrace them)

Or stay away from trading altogether. Regardless, I can help you understand why such severe price swings are happening and why they will likely continue to happen in the future (at high prices). This is the kind of behavior you should in fact expect from mostly a speculative asset. Long story short, the volatility of an asset which is mostly used as a vehicle for speculation but which has a fixed, limited supply at that is invariably set to explode at higher prices

I had been writing about this phenomenon in 2017 before we hit the 20k mark, that such prices can't possibly be stable. Now we essentially see the same picture, though at prices in the range of 9-13k. If we ever hit levels like 50-100k and those won't be supported by actual use of Bitcoin in real life, you will see prices surging and crashing as fast but even in the wider range in relative terms (relative means percentages here)

[el kaka22]

The flash crashes and increases hurts the economy more than we guys realize.

I mean I know this is a horrible example but I remembered what my dietician told me about my weight, now you can gain weight over time in years and it is still bad but your body adjust to it because it is quite slow, you can then lose weight and lose all the bad stuff with it (some stuff stay but that depends on how overweight and how long you have been overweight and your age) however if you gain 20kg and lose 30 then gain 40 then lose 50 in just 5-6 years, so move up and down like crazy, that makes damage to your body you can't get rid of, you may end up lighter than you started and still have horrible problems because moving like that hurts your body insanely.

Same with bitcoin, if it went up from 3k to 11k in 8 months and stayed there stable that would have been fine, but we moved from 3k to 13k even 14k almost and then moved to as long as 7.8k at one time and under 10k many many times and now over 11k which is why I think everyone is afraid of bitcoin.

[deisik]

Same with bitcoin, if it went up from 3k to 11k in 8 months and stayed there stable that would have been fine, but we moved from 3k to 13k even 14k almost and then moved to as long as 7.8k at one time and under 10k many many times and now over 11k which is why I think everyone is afraid of bitcoin

If wishes were horses, beggars might ride

Bitcoin is volatile because its price is not determined by its real use (as a means of payment) like it is, for example, with crude oil (which is also quite volatile but through reasons not related to speculation). In other words, you can't really expect a stable price from an asset whose price is determined mostly by relentless speculation. But you can take advantage of this volatility and earn dough through it

[LimLims]

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

The crashes are really pathetic.
But there are too some people who really wait for this.
But as of now the Bitcoin has risen a bit higher.
That's a good sign that BTC is becoming more valuable.
Nevertheless let's hope for the best.

[DoublerHunter]

~snip~
..what do you think after today flash crash of BTC from 12300 to 11600.

^ Really a flash crash? I think that is not the right word you use instead. If you are here since late in the year of 2018 you should understand that in what the price we are now. Obviously, we are in a green condition and it is still in FOMO. OP, you should know how bitcoin is being volatile even though there is a small correction of price but after days or weeks, it will have resistance. Investing in bitcoin in the short term is not advisable for you because you will see the profit for the long term. Don't look at the market with an hour price chart history.

[Fredomago]

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

It might fall back to test $10800 before resuming its uptrend again. The pump to $12,300 is not sustainable because it is not backed up by equivalent volume. The movers of the trend were purely day traders and you know it is always very hard for them not to take little profits and pushed price downward in other to be able to rebuy again. Bitcoin will grow back but that is when the whales and investors are assured that it will not get dumped and pumped every days.

Draw back or corrections are always at the back end of this market, once the rise can't be sustained by the support levels it will crash back and hold where the supports are waiting for it, just don't stressed yourself in any means learned to have a good attitude towards this market, as if you build good foundations inside you, the chance to make it work for your investment is higher than being impatient and lose your positions.

[fabiorem]

I dont see any crash.

[snipie]

I dont see any crash.

Neither me.
I only see people buying and making the price rise then a correction happens once they start making profits.
Overall it is good to be +$11k in the summer.

[STT]

I think the problem here is some people are buying one whole bitcoin and they really shouldnt be because thats all the money they have in the world.   Seeing it decline a thousand so quickly would be pretty scary in that case, the old timers have the sea legs to be more used to this kind of move because these are just rough seas in a tea cup.   Percentage terms, this isnt much of a move.

I kinda wish Bitcoin was more a boring steady as she goes kind of vehicle but its actually still all over the place.   An actual crash would be a move down to 6000 in a day.   The top hit was a trend going back to about April, so it hurt a nerve to put it colloquially.   Higher volume from trends applicable over months will surprise the day trade sometimes, thats how I'd explain it.    

[Kasabus]

It even gets higher almost every day since the day when BTC dumps below $10k.  Flash crash is inevitable and yet can't be predicted but what it has today is the upclimbing trend of Bitcoin and the entire market. This is a market behavior and we have to accept this cause we can do nothing about this.

[Oceat]

It even gets higher almost every day since the day when BTC dumps below $10k.  Flash crash is inevitable and yet can't be predicted but what it has today is the upclimbing trend of Bitcoin and the entire market. This is a market behavior and we have to accept this cause we can do nothing about this.

People should be thankful it there is an uptrend in the market and stop complaining although even if they have to complain about the crash the price is still higher enough compared to the price before when the Bitcoin started to drop to almost $2,000. Luckily Bitcoin didn't stop it right there as it is started to rise up again and shows a sign that it's back from almost dying during the bearish trend.

[FanEagle]

Don’t forget that we have people with different intentions, the reason why you usually see those crashes is because some people are taking their gain from the market when they see profit and if the bulls are strong enough to continue pushing it further, those ones will still have to return the profit and capital back out of fomo and this usually result to a very sudden jump in the price of bitcoin.

You thought that the value will just continue to increase without a corresponding reversal, it has never happened, you might even still get more correction than this, but when the main bull run starts, there is usually very little presence of correction, so if you know how to trade in short term now, you better do that, otherwise, you just have to keep waiting for bitcoin bull run for that long increase that you are waiting for.

[figmentofmyass]

I dont see any crash.

me neither. tbh, it looks like bears are dumping into incessant demand. it keeps getting bought up. it looks like new highs are coming. BUT, i'm still skeptical until we make a decisive break upwards. we haven't actually broken the downtrend by most measures. as long as it's all lower highs, we can't plan on breaking $13.8k, new ATH, etc yet.

[BitHodler]

People should be thankful it there is an uptrend in the market and stop complaining although even if they have to complain about the crash the price is still higher enough compared to the price before when the Bitcoin started to drop to almost $2,000.

People are thankful for an uptrend when they have bought in their coins already at lower prices. Most of the people complaining pulled the trigger around the peak and therefore panic each time the price takes a dive.

People generally make the mistake of investing with money that isn't meant to be invested, go all in, or use credit. If you are that reckless with your investments then of course you will stress out.

I see people frequently recommend others to dollar cost average, but I wonder how many of them dollar cost average themselves. If people actually did so they would complain less because a dip is a welcome lower entry point.

[deisik]

I kinda wish Bitcoin was more a boring steady as she goes kind of vehicle but its actually still all over the place.   An actual crash would be a move down to 6000 in a day.   The top hit was a trend going back to about April, so it hurt a nerve to put it colloquially

As the saying goes, be careful what you wish for

I perfectly well remember how in the first months of 2019 people had been crying and complaining all over the forum that there was no more life left in Bitcoin. People were bored to death with the lack of activity in cryptocurrencies. Now I read someone who wishes that Bitcoin was more boring, huh. Do you really want those days back? I think this is the last thing all of us could seriously be looking for (with short memory being the second last, obviously)