Never catch a falling knive

[cheezcarls]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

This reminds of a meme that I’ve saw earlier on my Facebook feed. It says buy the dip every time it breaks support level, just to summarize. The problem is that there is no perfect analysis on what would be the “new” support level after Bitcoin pulled back like this one. The market is so unpredictable, so even the so-called analysts and experts can’t predict it well and it’s not accurate.

[Dave1]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

This reminds of a meme that I’ve saw earlier on my Facebook feed. It says buy the dip every time it breaks support level, just to summarize. The problem is that there is no perfect analysis on what would be the “new” support level after Bitcoin pulled back like this one. The market is so unpredictable, so even the so-called analysts and experts can’t predict it well and it’s not accurate.

Yes, as market that is very volatile it's really hard to predict and it's not even accurate. But we can based our speculations on reading the trends. Currently, the price of bitcoin goes down again, whether you like to catch a falling knife is up to us. But we have seen the correction last month and witnessed how bitcoin rebounded, just all I'm saying here, read between the lines.

[Renampun]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

*I wonder why you can equate the sharpness of a knife with the price of Bitcoin...
I understand what you mean is a market correction. now I remember you back, last year the lowest Bitcoin price was around $ 4k more and if we use the parable you made then we conclude that anyone who buys Bitcoin at that price is a fool?

[FanEagle]

when the price goes down and the strongest support can be destroyed, then catching the falling knife at the right time (next support) is best, but you have to use gloves (don't ALL in) to back up when the price continues to fall.
Prices will not continue to fall, but when there is a downtrend the price will continue to be played and will continue to fall. we should be able to read where the final price will stop by analyzing it. Money Management will be needed in these circumstances.

People do not see those support lines, they just see price going down and they think they should all go out right away, I have seen people sell literally right at the support line, by logic if the price is at the support line, put it a bit under that level for stop loss and if it breaks under it, you will get out and price will freefall to next support line, but if it doesn't break under it, at least you won't be selling at the bottom, that is the worst thing you can do, there are people who sold at 45k for example, why would you do that, it bounced right back up after that.

Long story short people have no idea how to use indicators and do not know what to look at, it would be impossible to lose money this easily if people knew where to look at, even the most veterans lose money but they do not lose money this way, they definitely see these easily.

[danherbias07]

And its going back.
I think the knife already hit the floor. 
But damn, that was really scary. I thought that the dump will never end and will go back to a price that no one expected.
I bet Elon Musk will just tweet a face palm emoji when that happens.

[Webetcoins]

This is a true advise. Catching a falling knife can make you a slaughtered goat and leaving you there bleeding just as the market is bleeding now. Bitcoin is on high fluctuation at the time, it is selling at $46,285/777, from last week $56k. This is blood bath at this time but is normal if you also follow the market.

Indeed a bad time to invest when the market is going down and if even the price was 100k or 10k I wouldn't be buying any coins because I already have enough with me and I don't have the money to buy more while also have enough to hodl what I actually have with myself. These market ups and downs have stopped bothering me since a while and I have learned to remain calm when it is plummeting down or ascending up.

The saying is right but if you know what you're doing, you're not catching the knives but you're catching those cheap bitcoins this time.

It is always a war between investors about what is the correct time to invest, during the down time or when the asset is flying high. I won't take any sides but from my experience I would say let the bleeding stop before investing and similarly let the bull run cool off before selling.

[Becky666]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Hmmm, but unfortunately there will be those who will still catch this falling knife by whales, the current market was manipulated by the same whales that did this logic back in 2017, but this time we hope that these whales goes up there and rescues this falling knife from this danger. Currently, the bitcoin market isn't a going ares for purchase until the dust settle down and the whole market make u-turn.

[bittraffic]

And its going back.
I think the knife already hit the floor. 
But damn, that was really scary. I thought that the dump will never end and will go back to a price that no one expected.
I bet Elon Musk will just tweet a face palm emoji when that happens.

It's not over yet. The best TA I've seen so far was the ones telling us that $42k is the floor. We may not or we may hit that floor but until it didn't break $50k and the $58k yet the correction could suddenly change the outcome of your trade and thus the start of bearish market.

Elon could be taking part in this correction actually. He is also an investor and taking profit is not bad at all.

[South Park]

That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

It makes sense, it just that the circumstances in which the advise makes sense do not present themselves very frequently. Most of the time when you buy an asset like bitcoin that is going down you will benefit from it as we see a rebound on the price and you will make profits that way, this is just basically a counter trading strategy, but as we know trends can be very strong in this market and if you buy and use leverage when the price is going down and we see a crash instead of a correction you can be ruined in a matter of hours if the market keeps going down.

[MIner1448]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Now, in general, it is very dangerous to enter the market, at least I have not yet seen such a very volatile and unpredictable market, I put the market in short and go up, I put in the long market goes down, even if the market has broken the bottom and put a long, then the bottom breaks even more market ... At the moment I want to wait out this speculative volatility.

[ethereumhunter]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Now, in general, it is very dangerous to enter the market, at least I have not yet seen such a very volatile and unpredictable market, I put the market in short and go up, I put in the long market goes down, even if the market has broken the bottom and put a long, then the bottom breaks even more market ... At the moment I want to wait out this speculative volatility.

Waiting for a while can be a good decision because the market is unpredictable the movements. Just hope that everything will be back to good movements to enter the market and try to make a profit. But this time, I see there is a chance to buy low and wait for a while because sometimes, the price can increase for a little price to help you get profit from the coin. Maybe you can take a look at bitcoin movements, and if you are not chasing the big profit, I think you can get a small profit while you can repeat the buy low and sell high.

[electronicash]

i turned by coins to usdt so I'm hoping it will drop more to $40k. the falling knife is still falling, the only coin that rises so far is cardano but i think not for long as well. it will also fall after its pump. it's too much of a growth already, it can't be that perfect shoot to the top without dropping. and just like btc, it has to drop at little further. it won't be too much to asks for $40k, the bounce will be much higher.

[lienfaye]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Well it will surely hurt if you catch the knife while its falling but there's also a saying "no pain, no gain" so I think it depends on your belief and how you look on bitcoin.

We reach another ath, but dont you believe that we can surpass it in the future? Its risky to buy at high price but if you're planning to hold it for long period because you believe that there's so much more to look forward then I think its fine, its not too late for new investors.

Although its really true that dont buy at peak price but just like I said it depends on investor's belief. Thats why its a must that each of us understand the movement and has knowledge about crypto as a whole.

[el kaka22]

Only a few traders know what they are doing and what they are going to face in this market, they know methods of surfing and cutting losses whereas the vast majority of others just rushed through this game without analysis, typically the trend towards trading leverage, a lot of people here love to take hold of this falling knife and liquidation messages continued to appear. Once bitcoin has crashed, it is best to get out of this spiral, don't try to calculate the recovery point, we can't know until we lose too much

Honestly I have been here for nearly over half a decade and I still have no clue what's going on, I was here before the 2014 peak of 1400 dollars for example, and I have seen so many peaks and yet I am still not rich. Basically trading is an art, and only a decent artist can make a profit from it, there are so many people who have been here since I have been and made zero money, whereas there have been some people who have been here for the past month and made a million dollars profit.

I have seen a guy who started futures trading just on September with 70k dollars that owns over a million dollars now, obviously it was a great time to get in but still I could have done that too, maybe not with 70k since I do not have that but I could have turned 700 to 10k at least, but I couldn't because I don't know how. This is why only good traders will make money, doesn't matter when you start.

[FIFA worldcup]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

This will explain a bit more on it.  

[crzy]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

That's right, its too risky to catch the falling market but if you're brave enough, you probably made a lot of good profit right now as the market recovers. Cryptomarket is too volatile and it can change the trend easily, it might be too risky to buy on the downtrend but there's still hope on that, just stay focus and know what you're doing always, don't just get panic easily.

[SquallLeonhart]

as market that is very volatile it's really hard to predict and it's not even accurate. But we can based our speculations on reading the trends. Currently, the price of bitcoin goes down again, whether you like to catch a falling knife is up to us. But we have seen the correction last month and witnessed how bitcoin rebounded, just all I'm saying here, read between the lines.

Yeah, that is exactly what I am thinking as well but people are overreacting this time around that is the difference. Normally the deal is there are corrections and they always happen and there is really nothing shocking about a correction, just like you said there was a huge drop and we recovered nearly 2x from the bottom of that period for example.

That is the case for right now as well 100% I believe that however when there are more and more new people, those people do not really make any sense when they are trading and they just get out, now when it happened at 20k it wasn't a big deal because there wasn't that many new people, when it happened in 40k it dropped a bit more that time around, and that wasn't really a big deal neither even though it was a bigger drop we felt fine, now that we reached nearly at 60k we reached to a level where the drop became even bigger.

[carlisle1]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

This will explain a bit more on it.  

It's tough once you caught in the middle of this since you are really going to be trapped and you have to wait for much longer
or give it up and try to cut your losses.

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

That's right, its too risky to catch the falling market but if you're brave enough, you probably made a lot of good profit right now as the market recovers. Cryptomarket is too volatile and it can change the trend easily, it might be too risky to buy on the downtrend but there's still hope on that, just stay focus and know what you're doing always, don't just get panic easily.

If you are a risk taker and you have that nerve to handle the situation, the price of your braveness
will be much compensated once the market bounce back much earlier. It's really hard but it also
depends from how you understand the market and how you analyze your next steps.

[so98nn]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Modern problems need modern solutions!

If you think bitcoin is acting as knife right now then wear gloves to catch it!  

If you miss this opportunity to invest then you will blame your past in the upcoming future. This is what happened with all the people who said the same thrasher about the bitcoin few years ago.

Why to strangled in such thinking if we know there are investors like Elon into it.

Okay fine he may pull out today but after some years another investor would jump in. Just stick to it and keep digging profits in such times.  

[pawanjain]

If you are not familiar with this term, just look at the bitcoin price as now.  There it goes!

Wasn't this expected ? Bitcoin has been going all the way up breaking the ATH almost every week since a few months.
The rally has was seemingly good with an overwhelming experience. It was about time we face a correction to have a sustainable growth.
And here we go, this is a decent correction although I expected bitcoin to fall back little more.
But yeah what you said is also true. We should never react against the market otherwise all our money will be gone.
Let the correction settle and give us the opportunity to buy more at a cheaper price.