Is it correction time? Market down by 8%

[nicecrypto]

I do think it was expected, for a good number of days now btc and some alts has been on the rise, so i am not surprise to see this correction, my only question is how low can it get! Can it go as low as 7k or can go even lower?
I have been on usdt since 9k so i guess i will wait some more to see how  low this correction will go before getting back in.

[Baoo]

Actually, I guess this correction is necessary despite the current price is decreased to $ 9700 and it may this dip continues in next few days so It won't last long in my opinion. In fact, this is the appropriate chance in order to buy Btc and other digital currencies like, Ethereum, Tron, Cardano and even Bitcoin cash.  Don't panic and keep holding or collecting cryptocurrencies, and remember that the market is always volatile but I am pretty  sure that it will obviously rise and even more much than before.

[Slow death]

Is price correction on the way or just short sellers playing their game?

It is difficult to know, in this crypto market it seems that people who have a lot of money can dictate the movement of the market, it is possible that people who have a lot of money have sold large amounts of bitcoin as soon as the price reached $10400, and when they see that the price has already dropped enough to buy, they bought and the price will increase again. Someone said that the biggest challenge was to exceed $10700 and $13800, but apparently $10500 was a big barrier that was difficult to break

[ethereumhunter]

Yes, it is correction time, although the market is down by 8%. The correction time will be varied and will be the same from time to time, so if in this time we see bitcoin price is down for $9,900, then that is what we see, and we hope that the price will not go down for more. We need to be careful because the price can move to any price, even the price can go down again. So if you want to buy bitcoin, make sure you already analyze and decide on what price you want to buy bitcoin.

buying on current price has high risk in my opinion, we need to wait deep correction so we will get best price. today we see 8% correction and chart show bearish signal,maybe it will down again before halving time coming. we know in financial market we often heard about "sell the rumor and buy on fact" .maybe it happen now to cryptocurrency market in next several weeks after few weeks we see bullish movement.

This day, the bitcoin price still not increase, and the red candle still appears on the market, so you can see that we have another good time to buy bitcoin. Maybe if we compare with yesterday, the price is not moving too significantly, so we can analyze more to get a good time to buy bitcoin. But yes, this day, bitcoin price already increases for a small price, but then the price is back to down again. I still wonder if the price will reach $9,600 level price or not because if it touches that price, I will get some more bitcoin 

Yes, it is correction time, although the market is down by 8%. The correction time will be varied and will be the same from time to time, so if in this time we see bitcoin price is down for $9,900, then that is what we see, and we hope that the price will not go down for more. We need to be careful because the price can move to any price, even the price can go down again. So if you want to buy bitcoin, make sure you already analyze and decide on what price you want to buy bitcoin.

We should know by now that BTC is able to increase in prize and that  we should take advantage of the prize we can get it in discounted price especially now that halving is coming and that there will be a chance for us to earn. It may also due to crisis that are happening globally but know that this prices will definitely will go up again. We just need to learn how to monitor and take advantage on it.

I guess the discount price still happens at the market because we can see that the bitcoin price now still at a lower price, although the price now is not the same as yesterday. Maybe we can place an order buy at a price yesterday so we can get a lower rate of bitcoin but still be careful because the price can move to another lower price.

[STT]

we witness the very last time sub 10k right now... historical moments

I read that as the opposite for a second because that makes more sense, we are rising upto 10k as a ceiling rather then a low.   For the moment at least, on short term time frames we are trading lower on weakness.



So just simple 2 day and weekly averages we trade below and should continue to view price action as week till it can confirm above on 4hr bars.    See if we maintain 9800 area and make another attempt to rise higher.   Seems likely selling continues until a better level of support is found and we can reset and rebuild upwards.    My estimate previously was as low as 8000 because BTC tends to be that volatile but it may be 8500 or possibly higher.   We also have 50 and 200 day averages which are both rising now, their positive direction should cap any especially negative talk.

[Kelvinid]

In this volatile form of market, you can't see that every time will be having an uptrend motion but rather to see a roller coaster alike.
Feel it was a market correction by you but it wasn't like that and that common scenario has been encouraging people to take the opportunity and buy more coins in anticipation for the next pump. We don't be bothered this small dumps, we don't need to start FOMO again as it never gives a positive result but only be dragging the market to dump more and more.

Trust and patience are mostly like we need to build here and for us not getting desperate to think of selling because we are already in bearish again.
We have to open our minds and tried to understand how the market works.

[ScamViruS]

10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.

The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.

Expect a correction like this. Continue bitcoin price have risen since the beginning of 2020. It seems to me that Bitcoin is giving me another opportunity to buy. Now price $9600 bitcoin. If $9500 is broken down further down the support, then a major down trend can be seen. I'm not a good trader!  

[Vaculin]

We should not be surprise with what is happening now, yes, there is a correction but the good news is that we are still up compared to the price last January 1, 2020. Like always happens, when there is a massive pump, a usual correction happens, it's not new so let's relax and just prepare to see a possible bounce back soon, don't worry it won't take too long before this price will be back to $10,000+.

[Latviand]

The market price is indeed falling at the moment but for sure, there's nothing to worry. I doubt that this point will be the "correction" period since the market downfall is not that big and correction usually occur with a bigger percentage of market price cut. So maybe, it is just a part of market volatility and if it would be the start of correction, no need to panic because its market price will again increase and we should look at it as an opportunity to invest.

10k is the psychological price number of BTC, i would put a stop loss under $9200 just in case.

The crypto market is so volatile & 8% means nothing as correction to me, but hey being careful is always a good thing to protect your investment.

Expect a correction like this. Continue bitcoin price have risen since the beginning of 2020. It seems to me that Bitcoin is giving me another opportunity to buy. Now price $9600 bitcoin. If $9500 is broken down further down the support, then a major down trend can be seen. I'm not a good trader! 

I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.

we witness the very last time sub 10k right now... historical moments

It could again happen so we should not be disappointed with the current happenings in the market. We should take advantage of the scenario if ever the market price will continue to fall, in order to earn huge profit during the next uprise.

[ScamViruS]

I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.

That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.

[criza]

We can not really determine the possible cause of the dump in the price of Bitcoin. The best we can do is guess what might be the reason behind it. My best guess is correction because, all crypto users know that Bitcoin would go into halving in may and they wouldn't not even think on selling Bitcoin before it. After the correction, I believe the price of Bitcoin will continue to increase in the coming months as the halving definitely comes closer.

[carlisle1]

you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.

but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.

[Finestream]

We can not really determine the possible cause of the dump in the price of Bitcoin. The best we can do is guess what might be the reason behind it. My best guess is correction because, all crypto users know that Bitcoin would go into halving in may and they wouldn't not even think on selling Bitcoin before it. After the correction, I believe the price of Bitcoin will continue to increase in the coming months as the halving definitely comes closer.

This is just a slight correction and I am not anymore expecting it will ever go down again, as of today, it seems like the price is now quite stable and I would not be surprise if bitcoin will rise back to $10,000 again and will create a new high this year (not an ATH).

Next jump would probably be $11,000.

[Qcrypto]

you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.

but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.

Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.

People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.

It's just a little foreplay before the real game starts.

[Reatim]

maybe this is the time of correction not that day because Market still pumped the following days but today?it is seen that market continue for dump from $10,200 falls to $9,500 it is Bigger than what the last dump happen so basically we will now ready to wait for the final dump to start the Bull for the halving season in which will happening this second quarter.

I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.

That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.

we have our own strategy mate while we are both for long term holding others are maintaining their DayTrading and Semi long term so let us respect each others choices .

[STT]

ITs a correction to leaving the previous bullish channel.   Doesnt mean its that harsh and also we can correct over time not just price.



We are reacting to monthly average but below a weekly average which I estimate means near term action is in a negative phase.    Buyers still involved but aspirations are capped by previous resistance I think, I reckon we resolve lower.

[The Sceptical Chymist]

i would put a stop loss under $9200 just in case.

Whew, and that order might get executed too, the way the market is going right now.  Bitcoin is at $9531 as we speak, which is about a $700 drop from yesterday's high--this is one hell of a volatile time, and you actually gave some good advice for short-term traders who want to limit their losses, although I would argue that if bitcoin got as low as $9200 it would probably be better if you started buying the dip instead of selling.  I don't think the overall trend is down.

And yeah, this is a minor correction in the making.  I'm sure plenty of traders made some decent money when bitcoin broke through the $10k barrier, and many of them are cashing out their profits.  But hopefully bitcoin will get back to where it was.  It hasn't been taking long for it to rebound from these dips, but we'll see.

[matchi2011]

I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.

That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.

If you're doing this kind of investment then it will work out for you just fine. Keep buying and holding your coin  especially when the value is being dump, correction is a good chance to invest more and potentially gained much higher profits when the bull season show up and make a huge pump around the market.

[Bagaji]

I think this dip will be good as straight up movement with no stabilization and dips is not solid i would like to see slow but steady move upwards and we should not be in hurry as bull cycle will stay here for many many months.

The current downward trend of the market value of Bitcoin is some how good traders who will use this opportunity to buy at a lower price pending when the market increase and it is a bad move for those who may want to sell at all costs as a result of one personal problem or the the other at this time.

[Baofeng]

i would put a stop loss under $9200 just in case.

Whew, and that order might get executed too, the way the market is going right now.  Bitcoin is at $9531 as we speak, which is about a $700 drop from yesterday's high--this is one hell of a volatile time, and you actually gave some good advice for short-term traders who want to limit their losses, although I would argue that if bitcoin got as low as $9200 it would probably be better if you started buying the dip instead of selling.  I don't think the overall trend is down.

And yeah, this is a minor correction in the making.  I'm sure plenty of traders made some decent money when bitcoin broke through the $10k barrier, and many of them are cashing out their profits.  But hopefully bitcoin will get back to where it was.  It hasn't been taking long for it to rebound from these dips, but we'll see.

Yeah, it's just over $9500 now so there's a 'huge' drop from $10100-$10150 from yesterday. Really volatile and unpredictable, others might say that the push above $10k again is just a bull trap as the price immediately went on a downward spiral. Definitely, @9200, good price to pick up and buy in the dip and take that opportunity again.