Bit Coin dropped 12% since morning ,where is it going?

[TravelMug]

When Bitcoin managed to go up to the price of $ 40,000 I did sell some of the Bitcoin I owned, because I believe Bitcoin will be corrected first
so that it can go higher. It turned out that my prediction was right, finally the Bitcoin price dumped. Then I bought again when the Bitcoin price
was $ 32,000. And now it's up to $ 36,000 again. Hopefully this week Bitcoin can get back to the price of $ 40,000.

Good decision, you can easily make like what? 10%-15% conservative profits right?

I also been thought about that kind of strategy, but it's really hard to time the top of bitcoin. In any case though, I just HODL makes it's easier for me at least.

The bounce went as high as $39k, if i'm not mistaken, but it seems it went to to $36k right now, I'm still expecting an improvement start of this week. Probably $38k-$39k again.

[Fredomago]

When Bitcoin managed to go up to the price of $ 40,000 I did sell some of the Bitcoin I owned, because I believe Bitcoin will be corrected first
so that it can go higher. It turned out that my prediction was right, finally the Bitcoin price dumped. Then I bought again when the Bitcoin price
was $ 32,000. And now it's up to $ 36,000 again. Hopefully this week Bitcoin can get back to the price of $ 40,000.

Good decision, you can easily make like what? 10%-15% conservative profits right?

I also been thought about that kind of strategy, but it's really hard to time the top of bitcoin. In any case though, I just HODL makes it's easier for me at least.

The bounce went as high as $39k, if i'm not mistaken, but it seems it went to to $36k right now, I'm still expecting an improvement start of this week. Probably $38k-$39k again.

That's was a nice catched, there are traders who can managed to take advantage of this kind of movements,
 short-term traders who are good enough to make money with this volatile market.

Indeed a good strategy that works with buy low and sell high then repeat it over and over to have a better outcome.

If you have that skills and understanding to this venue, you've got an edge to every traders who are hoping to earned, not greedy that much and have an attitude to patiently see before taking positions.

[Jating]

As per coinmarketcap, we have drop +7% in the last 24 hours, pegging the price currently at $34,800. So dip continues, but the good news is that we are still above $30k and maybe this will be the support level until we either have a break out run start of the week.

So I would say that we might trade sideways for now, expect the price go on as high as $38k. Perhaps the market has somewhat slow down, although I haven't seen any negative news as of late, there are threads saying otherwise. But going to $10k? I doubt that we can go that low as the opportunity to buy exist at any levels.

[Bitcoin577]

Bitcoin dropped 6.1% from 24 hours and nowborice is  35,331. Still price is good and investor are still in benefit.
At this time if we trade below 35 ahould be beneficial. There are 70% chance that price will pump and we will see 40k soon.
I think short term traders will be happy. Now they have a chance to buy some btc and then sell above 39 k.

[bryant.coleman]

We are observing this pattern for the past many weeks. Bitcoin exchange rates remain volatile (which you can expect after such a sharp rally), but the important thing to note here is that the prices have recovered within 2-3 days whenever there is a correction. This means only one thing for me - the platform is set, and Bitcoin is on course for the next major rally which is going to take it beyond $50,000 (or much more than that level).

[traderethereum]

Bitcoin dropped 6.1% from 24 hours and nowborice is  35,331. Still price is good and investor are still in benefit.
At this time if we trade below 35 ahould be beneficial. There are 70% chance that price will pump and we will see 40k soon.
I think short term traders will be happy. Now they have a chance to buy some btc and then sell above 39 k.

The investors want to wait for more before they can sell and take profit, and as the price now is down, they can buy back bitcoin again, so they will have more bitcoin to hold.
If they can be patient for a while, and waiting for the price back to increase, they will make a profit, and they can expect to make a big profit in the future as bitcoin price will have a big chance to break to $40k again.
It is about how they can hold and wait for a while, and not many of them will have patience.

[wxa7115]

As per coinmarketcap, we have drop +7% in the last 24 hours, pegging the price currently at $34,800. So dip continues, but the good news is that we are still above $30k and maybe this will be the support level until we either have a break out run start of the week.

So I would say that we might trade sideways for now, expect the price go on as high as $38k. Perhaps the market has somewhat slow down, although I haven't seen any negative news as of late, there are threads saying otherwise. But going to $10k? I doubt that we can go that low as the opportunity to buy exist at any levels.

I think that for the time being the dip has stopped, it is true that the bears are still trying to push the price even lower than what it is right now but they are facing a lot of resistance and even if they are able to make the price drop to lower levels this is only temporary, so I think that for the time being the price of bitcoin is trapped and it will move sideways for some time.

I don't know how long this is going to take, it may take a few weeks or maybe even a few months but sooner or later the price will take a definitive direction, if it is up then people should prepare themselves because we could witness the biggest bull run in history, but if it is down this could get ugly if institutional investors begin to sell.

[OgNasty]

It’s always so cringe when I read bit coin. I always just find myself unable to read the rest of the post while I ponder whether it was some sort of auto correction or the user really managed to find their way here and sign up for the forum while never knowing that Bitcoin is one word.

[error08]

As per coinmarketcap, we have drop +7% in the last 24 hours, pegging the price currently at $34,800. So dip continues, but the good news is that we are still above $30k and maybe this will be the support level until we either have a break-out run start of the week.

So I would say that we might trade sideways for now, expect the price go on as high as $38k. Perhaps the market has somewhat slow down, although I haven't seen any negative news as of late, there are threads saying otherwise. But going to $10k? I doubt that we can go that low as the opportunity to buy exist at any levels.

Bitcoin day's range is $33,833 — $36,839 based on bitstamp, so it down 2% over the past 24 hours, coinmarketcap seems different, perhaps the time frame of 24 hours to calculate the price drop also different. Well, we can assume bitcoin going sideways or the market appears to be assembling a base for the next breakout to surpass the ath at $42k, I would say it won't take so long to reach that target, as $30k was the bottom and let bitcoin consolidate the resilience to bounce back.

[STT]

I like to think the Bit part is important in emphasis, smallest parts matter but I might be over reading that




I could draw on the chart but not a fan of messy and clutter and I reckon its straight enough to read that we changed mood in the last days with more indecision in movement then previous with its strong momentum.   Perhaps we should look again for it to return to regularly sustained price action above a weekly moving average.   It challenged before Jan 11th but now we cross regularly, different moods so maybe it takes till the monthly below catches up.

[Fakhrulenclix]

It dropped another $2000 since I posted that minutes ago.

IMO we are entering the period of the roller coaster. I expect to see many +/- $2000-$3000 in upcoming months. But I don't think anyone can predict the sequence of these moves.

Yeah, this is the point, no one can predict the roller coaster. Some people try to earn from the fluctuating price of Bitcoin but not all people can do. I will hold my Bitcoin and sell it for a high price. Not doing sell and buy back at low, because I think hold is safe for investment. The holder is the winner in my motto

[francois-cooper]

We could see a bounce on the 20 EMA.
That happenned on every dip during the 2017 bull market.

[carlfebz2]

Currently, Bitcoin price had dipped down to 11% due to Double spend issue.

https://www.bnnbloomberg.ca/bitcoin-plunge-has-newbies-scrambling-to-google-double-spend-1.1551810
https://markets.businessinsider.com/currencies/news/bitcoin-price-double-spend-flaw-critical-report-suggests-2021-1-1029990921

This isnt something that is similar into those common Fuds in the market.Lets see on where this one would be heading.