4 Key Similarities to Previous Bull Market Corrections

[YuginKadoya]

If there are similarities I don't really bother in any resistance at all, If Bitcoin gonna be in a bull run it will surely go beyond our expectations, and if you are seeing a major impact regarding the upcoming halving I think that is a good sign to say that we are in the midst of another all-time high, If the parabolic movement would trace its way back again then the bull market of 2016-2017 can be a grasp.

you blinked and you missed it!
bitcoin has been in a bull run for nearly the entire 2019. it is just that people expected bitcoin's bull run to be the exact same thing as the last thing they remember (end of 2017) so they are missing it. otherwise price is already up 220% from the beginning of the year and aside from the handful of corrections that we had, the price has been going up ever since it reached the bottom at $3100.

and that is the way all bull runs work, there are rises then corrections. and then rise again. what we had in 2017 was the end of the bull run which finished with a bubble. it will repeat again by the end of this bull run but until then we will continue having this type of rise which people miss out on!!!

I might be missing out the whole time bitcoin is in the bullish state, maybe because of the correction many had thought that they are still in the midst of a bear market, I might change the way I think about this movement that history is repeating itself at least not the movement right now, but thanks for correcting it I might just wait for certain increase of price but I will still keep the hold until the major all-time high again I will surely never missed out this time thanks for the info.

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[Wysi]

If there are similarities I don't really bother in any resistance at all, If Bitcoin gonna be in a bull run it will surely go beyond our expectations, and if you are seeing a major impact regarding the upcoming halving I think that is a good sign to say that we are in the midst of another all-time high, If the parabolic movement would trace its way back again then the bull market of 2016-2017 can be a grasp.

you blinked and you missed it!
bitcoin has been in a bull run for nearly the entire 2019. it is just that people expected bitcoin's bull run to be the exact same thing as the last thing they remember (end of 2017) so they are missing it. otherwise price is already up 220% from the beginning of the year and aside from the handful of corrections that we had, the price has been going up ever since it reached the bottom at $3100.

and that is the way all bull runs work, there are rises then corrections. and then rise again. what we had in 2017 was the end of the bull run which finished with a bubble. it will repeat again by the end of this bull run but until then we will continue having this type of rise which people miss out on!!!

I might be missing out the whole time bitcoin is in the bullish state, maybe because of the correction many had thought that they are still in the midst of a bear market, I might change the way I think about this movement that history is repeating itself at least not the movement right now, but thanks for correcting it I might just wait for certain increase of price but I will still keep the hold until the major all-time high again I will surely never missed out this time thanks for the info.

Yes we are so much bothered about the bearish market that even if there is a price increase we think that it's a bull trap and whenever there is a small dump we think it's correction time,  as a result we might miss out on bull run if we don't identify the thin like between bull trap and bull run and fluctuations and correction. Even I will be more active from now onwards to avoid missing out on bullish market.

[kapalmabur]

If there are similarities I don't really bother in any resistance at all, If Bitcoin gonna be in a bull run it will surely go beyond our expectations, and if you are seeing a major impact regarding the upcoming halving I think that is a good sign to say that we are in the midst of another all-time high, If the parabolic movement would trace its way back again then the bull market of 2016-2017 can be a grasp.

you blinked and you missed it!
bitcoin has been in a bull run for nearly the entire 2019. it is just that people expected bitcoin's bull run to be the exact same thing as the last thing they remember (end of 2017) so they are missing it. otherwise price is already up 220% from the beginning of the year and aside from the handful of corrections that we had, the price has been going up ever since it reached the bottom at $3100.

and that is the way all bull runs work, there are rises then corrections. and then rise again. what we had in 2017 was the end of the bull run which finished with a bubble. it will repeat again by the end of this bull run but until then we will continue having this type of rise which people miss out on!!!

I might be missing out the whole time bitcoin is in the bullish state, maybe because of the correction many had thought that they are still in the midst of a bear market, I might change the way I think about this movement that history is repeating itself at least not the movement right now, but thanks for correcting it I might just wait for certain increase of price but I will still keep the hold until the major all-time high again I will surely never missed out this time thanks for the info.

with your patience I'm sure you will enjoy the results later, indeed many people have not sold their bitcoin at ATH in 2017,
and are waiting for a new ATH, but from that experience makes us understand how to trade in crypto currencies,
obviously! very different from the rest, hopefully this year bitcoin and altcoin will recover

[SaShiRaJaVu]

indeed many people have not sold their bitcoin at ATH in 2017,
and are waiting for a new ATH, but from that experience makes us understand how to trade in crypto currencies,
obviously! very different from the rest, hopefully this year bitcoin and altcoin will recover

The people who have not sold the coins when the market reached their all time high last time might not sell even if the market reaches another all time high valuation, some will book their profits and wait for the market to go down and pick them once again and some does not even bother about the market valuation as they are in for the long haul. The alt recover is doubtful as i do not see any huge rally coming up for any of the coins, privacy coins have a hurdle because of regulation and with Litecoin planning to become another privacy coin who knows what the future holds for these coins in terms of legal acceptance in regulated markets.

[YuginKadoya]

Yes we are so much bothered about the bearish market that even if there is a price increase we think that it's a bull trap and whenever there is a small dump we think it's correction time,  as a result we might miss out on bull run if we don't identify the thin like between bull trap and bull run and fluctuations and correction. Even I will be more active from now onwards to avoid missing out on bullish market.

Many are very bothered about the movement right now and just like me I am certain that I am caught because of the bull trap but because of certain speculation I think I will not miss out on what is the real increase and not, well getting active in the forum will surely help.

with your patience I'm sure you will enjoy the results later, indeed many people have not sold their bitcoin at ATH in 2017,
and are waiting for a new ATH, but from that experience makes us understand how to trade in crypto currencies,
obviously! very different from the rest, hopefully this year bitcoin and altcoin will recover

I am now more patient than ever because last All-time high I am not able to savor all of its glory because my hands are shaky that time, but I think with the timing and speculation by much great analysis in this forum I think we can handle some bull trap, and some dump that is many people are not aware of sometimes. 

[BitHodler]

I am now more patient than ever because last All-time high I am not able to savor all of its glory because my hands are shaky that time, but I think with the timing and speculation by much great analysis in this forum I think we can handle some bull trap, and some dump that is many people are not aware of sometimes. 

I wouldn't necessarily just focus on the analysis here on this forum because everyone is just guessing.... some guesses are more educated than the others, but what matters is that you follow your own plan and stick to it.

I personally only pay attention to the analysis here to see if I forgot about certain key areas or indicators that are relevant in the here and now. In other words, just to improve my own analysis where possible.

What I find even more important is to actually sell a portion of my coins whenever the market seems extremely overbought, which is something I didn't do in 2017 but did do so this year. I can look forward buying lower without feeling bad.

[beerlover]

The reality is we can go back and find anything resembling the two time periods all the time. Look at yesterday and then look back on 10 years of bitcoin and I am sure there was a day that was exactly the same, look at tomorrow and it will be same like some previous day as well, today is just another day that was exactly like some other date. Basically, you can always find the resembles, the trouble is just because a week ago looked familiar for 7 days straight to some other 7 days straight doesn't mean the 8th days will be the same as well.

You can find days that look similar but you can't make predictions based on that which creates the whole issue. Hopefully we will one day reach to a level of price in bitcoin that we won't need to guess what it will be eventually.

[Hamphser]

The reality is we can go back and find anything resembling the two time periods all the time. Look at yesterday and then look back on 10 years of bitcoin and I am sure there was a day that was exactly the same, look at tomorrow and it will be same like some previous day as well, today is just another day that was exactly like some other date. Basically, you can always find the resembles, the trouble is just because a week ago looked familiar for 7 days straight to some other 7 days straight doesn't mean the 8th days will be the same as well.

You can find days that look similar but you can't make predictions based on that which creates the whole issue. Hopefully we will one day reach to a level of price in bitcoin that we won't need to guess what it will be eventually.

Yeah, you were right and i agree with you that the coincidence happens very similar to the previous bull run will going to repeat in the present. They may look like similar but that doesn't mean that the results will be the same. Bitcoin is very volatile to think it that way, you may see some bull run today but on the next day you will see a sudden dump without a prior notice.

[exstasie]

What I find even more important is to actually sell a portion of my coins whenever the market seems extremely overbought, which is something I didn't do in 2017 but did do so this year. I can look forward buying lower without feeling bad.

The monthly RSI was above 70 from December 2016 to February 2018. So the market was extremely overbought at $3,000 but that was nowhere near the top.

How do you decide where to sell?

[Leon83]

What I find even more important is to actually sell a portion of my coins whenever the market seems extremely overbought, which is something I didn't do in 2017 but did do so this year. I can look forward buying lower without feeling bad.

The monthly RSI was above 70 from December 2016 to February 2018. So the market was extremely overbought at $3,000 but that was nowhere near the top.

How do you decide where to sell?

Divergence on the daily chart is something to pay attention to. If price goes up but RSI goes sideways or doesn't reach the same RSI as several days ago, price will probably go down soon.

That happened from december 7 to 17 at the ATH in 2017.

[davinchi]

The reality is we can go back and find anything resembling the two time periods all the time. Look at yesterday and then look back on 10 years of bitcoin and I am sure there was a day that was exactly the same, look at tomorrow and it will be same like some previous day as well, today is just another day that was exactly like some other date. Basically, you can always find the resembles, the trouble is just because a week ago looked familiar for 7 days straight to some other 7 days straight doesn't mean the 8th days will be the same as well.

You can find days that look similar but you can't make predictions based on that which creates the whole issue. Hopefully we will one day reach to a level of price in bitcoin that we won't need to guess what it will be eventually.

Yeah, you were right and i agree with you that the coincidence happens very similar to the previous bull run will going to repeat in the present. They may look like similar but that doesn't mean that the results will be the same. Bitcoin is very volatile to think it that way, you may see some bull run today but on the next day you will see a sudden dump without a prior notice.

Some people believes in cycle but I dint believe, because there are so many things that could affect the value of bitcoin at a time such as government policy and others, imagine that government policy does not favor cryptocurrency in the past, and suddenly, the government just declared support for cryptocurrency, do we think that we can compare the growth that bitcoin will have when government supports it to when they did not support it, so if we had tied the activities of bitcoin to circle, how would these scenario that I give play out.

We just need to believe that bitcoin will have price growth, but not all these analysis that people usually do that I personal feel does not work much. Is it not someone that just claims that bitcoin will get to $16k in October? But, the month is over already and we did not see it.