Bit coin crashing ? $3,000 by noon today

[STT]

This is the Sunday sell, its quite normal I think same as price drifts over a weekend it hits the harder prices as we come back into working week hours.  Par for the course mostly but I think there is some negative outlook worth considering.

Price action does look top heavy, its easier to fall over if too many become involved later on as buyers are just as much sellers. 50 day moving average is quite reasonable normally to touch on a regular basis so last time we left it in July and didnt recontact for about 6 weeks and this time its been since October so its very extended.
Jan 4th it looked just the same as now and rallied, 27k was price then so thats the downside price objective. If we get there consider the flipside.

[pooya87]

If you look at the percentage size of this fall you can see that it is 20% drop which could be categorized as a crash but a small one and it is normal for bitcoin to see such "mini crashes" during its bull run. Meanwhile only an idiot or a troll thinks that just because of such a move price could go below $30k let alone reach $3k

I keep suggesting everyone to look at the charts, I might as well repeat it here too. If you check the charts between 2015 to end of 2017 you can see that the trend is very similar (if not identical) to the chart between start of 2018 to end of 2021 with early 2021 (these days) being very similar to start of 2017.
A good example is the fall from $2980 to $2120 back in June 2017 which is 28% drop right after price went about 100% higher than the previous ATH ($1200 to $2980 -> $20000 to $42000).
You see the similarities yet?

[exstasie]

Meanwhile only an idiot or a troll thinks that just because of such a move price could go below $30k let alone reach $3k

$3K is a joke, but sub-$30K would be very typical for Bitcoin. Check out some of the pullbacks we saw during the 2017 bubble:

• January 2017: 38%
• March 2017: 35%
• June-July 2017: 41%
• September 2017: 40%

From $42K, a 35% pullback = $27,300. 38% = $26,040. It goes lower from there.

After failing out of a 3-day mode on significant bearish momentum, I would say the odds of seeing the $20,000s again are pretty good, better than 50-50. Historically, $24-27K would be the prime knife catching area. Great place to dump cash and go all in coin. Also a great place to hunt for longs while future premiums are low.

A good example is the fall from $2980 to $2120 back in June 2017 which is 28% drop right after price went about 100% higher than the previous ATH ($1200 to $2980 -> $20000 to $42000).
You see the similarities yet?

Bitstamp hit $1,830 on that correction. Coinbase went to $1,758. Back then, a few hundred dollars was significant. On Coinbase, the total magnitude of the June-July correction was 41.4%.

[NeuroticFish]

After failing out of a 3-day mode on significant bearish momentum, I would say the odds of seeing the $20,000s again are pretty good, better than 50-50. Historically, $24-27K would be the prime knife catching area.

I'm surprised to stumble onto this here instead of.. you know, your thread...    With nice pictures and such 

So I understand that you pretty much expect for at least one more dumping session...
Although I did expect such a correction happen sooner or later (it was growing already way too fast), it still makes me somewhat nervous. But your logic is pretty much reassuring 

[Question123]

Price is continue crashing the value and people maybe can cause more dumping and I want to say to everyone that we need to calm down to stay the price of the bitcoin more than 30k dollars because for sure if people continue panic selling the bitcoin. but it is not end this crashing because it is possible to see again dump price but we cam stop it if hold and buying again.

[exstasie]

After failing out of a 3-day mode on significant bearish momentum, I would say the odds of seeing the $20,000s again are pretty good, better than 50-50. Historically, $24-27K would be the prime knife catching area.

I'm surprised to stumble onto this here instead of.. you know, your thread...    With nice pictures and such 

I have a couple EW counts in mind and extrapolations to share in that thread (extremely bullish, mind you) but shorter term, things are still pretty speculative, and I'd like to see a clearer structure develop before making any grand predictions. I want to wait until I see a higher degree consolidation before speculating on exactly where we are in the cycle.

Until then, it's just basic trend riding, and waiting for that sweet sweet 30-40% correction.

[Husires]

Is this the start of free fall ? I dont see bitcoin loosing so much in one day ever before . I'm so glad I cashed out on Friday.

The index is still shocking as the correction has ended last week's gains and is now up by 1%.
Can't say it's a crash because we haven't seen a 30% drop.
If we go back to the 20,000 level, then we can say that the price has collapsed.
Growth is healthy and the index is fixed at that peak.

[UnDerDoG81]

Is this thread from 2017?

[arwin100]

Price is continue crashing the value and people maybe can cause more dumping and I want to say to everyone that we need to calm down to stay the price of the bitcoin more than 30k dollars because for sure if people continue panic selling the bitcoin. but it is not end this crashing because it is possible to see again dump price but we cam stop it if hold and buying again.

The crash is not totally big compare to the gain got by the bitcoin recently so people need to think about that so that they will be calm and will not create panic to those people who are afraid to see the dump, but if many will take this and they sell at lose then provably this is a start of price dropping for more if they will spread a fear to the person who doesn't really know how the market works.

[ngesotcoy]

Is this the start of free fall ? I dont see bitcoin loosing so much in one day ever before . I'm so glad I cashed out on Friday.

Bitcoin isn't in free fall. This is a normal situation, dropping more than 10% is not uncommon, you know bitcoin isn't long so you feel strange.

[plr]

Is this the start of free fall ? I dont see bitcoin loosing so much in one day ever before . I'm so glad I cashed out on Friday.

It really is a huge crash at 10%, I hope it will not happen again and Bitcoin will recover, whales are selling in the hope that small investors will also sell so they can buy more Bitcoin at a much cheaper price, I don't see Bitcoin going at $20 k the momentum is still there, I still believe this is going to be a great year for Bitcoin.