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Author Topic: BTC dump breaks through 53K resistance barrier  (Read 169 times)
DarkDays
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March 24, 2021, 10:22:55 PM
 #1

Some of you might have seen the massacre that's taking place right now, with BTC experiencing massive sell orders tumbling it under 53K...

What are everyone's thoughts at the moment? Do you still HODL when sell orders as high as 49M are coming through breaking any resistance there was?

It would be interesting to see people's thoughts, as I'm sure many are panicking right now.

Comments & feedback will be appreciated as always Wink
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March 24, 2021, 10:43:32 PM
 #2

Although I've experienced a lot on this. Seriously it's giving me some panic attack but I'll hold.

It's now $52,775. But even if there are a lot of sell orders, it will also be retrieved by dip buyers so we might see a quick recovery just like the Elon effect after Tesla's announcement.
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March 24, 2021, 10:51:19 PM
 #3

I will keep HODL. There is no reason for us to panic and sell our bitcoin too. I even think this is the best time to accumulate bitcoin more because it's cheaper than yesterday. Let weak hands dumped all their bitcoin, so there will be only HODLer bitcoin later

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March 24, 2021, 10:52:06 PM
 #4

Not actually a resistance but rather a strong support and eventually it is really been set based of technicals which is on $52k price point and we are already here (52,500) as of this writing

which the next big support would be on $47k and if this movement will continue then we would really be seeing below 50k price point which i can say that this is just some another normal day shake-off

here on this market.Im actually waiting for it to go below 52k before i do make out some decision on accumulating cheaper coins but for now i'll need to wait a little bit before it settles down and
presuming for some possible recovery.

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March 24, 2021, 10:52:36 PM
 #5

At times like this when there is a slump in price, some people will take the opportunity to buy from does who are in a hurry, panicking and want to sell out. In its usual order, in some few hours, days or say weeks, we will be celebrating a new Btc ATH (All time high).

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March 24, 2021, 11:16:05 PM
 #6

Seen it many many times before over the years, no need to panic. It was actually
the same this time last month because we are closing in on the last Friday of
the month when the Futures Trades terminate and nearly always there are a lot
of short orders.

Also traditionally March is the worst month for Bitcoin returns.

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March 24, 2021, 11:44:18 PM
 #7

Nah, not in the panic mode, actually I'm still expecting the price to dip until tomorrow. And then after that, when that $ billion worth of bitcoin futures has expired, we will see a gradual leg-up again. That's always been the cause since January, we will see a drop in the last week and then when a new months comes in, the price suddenly spike up again, reaching new all time high. So no need to be worried, this is just a monthly market cycles.

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March 24, 2021, 11:52:16 PM
 #8

Nah, not in the panic mode, actually I'm still expecting the price to dip until tomorrow. And then after that, when that $ billion worth of bitcoin futures has expired, we will see a gradual leg-up again. That's always been the cause since January, we will see a drop in the last week and then when a new months comes in, the price suddenly spike up again, reaching new all time high. So no need to be worried, this is just a monthly market cycles.

Not in panic mode as well. This price movement is very normal.
In the next coming days, we will see it bounce back again.
I guess a lot of whales are also buying some bitcoins today.
With good news such as Tesla accepting btc and not converting it to fiat, I guess some companies will follow their move.
So don't worry for this price movement, a matter of time before we will see it rising again.

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March 24, 2021, 11:56:47 PM
 #9

No reason to cashout, so I should hodl. Every dip is an opportunity for those who want to buy-in cheaper now could be the right time. I didn’t expect it to dump early, still figuring out the reason behind the crash but I don’t see reason to panic probably its another healthy correction after Elon’s pump tweet yesterday.
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March 25, 2021, 12:44:22 AM
 #10

I'm buying the dip.
As you can also see on some on-chain analysis that the Bitcoin reserves on exchanges are still decreasing, that's why I conclude, it could be possible that people started to withdraw their Bitcoin off to exchanges, and it can be the result of fewer people are selling their Bitcoins.

With all these recent dumps, it can be considered a pullback. The same happened last time when Bitcoin reach around $40,000 and dumped around $29,000.

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March 25, 2021, 01:15:30 AM
 #11

Why would hodlers panic? If you're a trader sure, if you're panicking then you aren't a hodler. Hell I'm not even bothering to sell any of my trading btc. Why would I sell bitcoin for LESS?? I'll sell my trading BTC when it is higher not lower. Selling when price goes down is how you lose money as a trader.

I'd be buying right now if I had money.

I don't understand why anyone would be panicking unless you're a trader with very short term needs.

If you are panic selling cuz of a dip then you are literally by definition not hodling.

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March 25, 2021, 01:31:18 AM
 #12

Bitcoin is finding stability in the $50,000s. Seems great to me.

Meanwhile new Wall St markets for Bitcoin are continually opening up, USA ETF applications are piling up, western mining companies are going on buying sprees, NYDIG CEO I believe it was said there will be big institutional adoption announcements being made public in the coming weeks, you can buy Teslas directly with Bitcoin and Tesla will hold on to the bitcoin instead of just taking the cash, banks and credit card companies and fintech companies are all opening or improving their Bitcoin services this year.

What we're seeing is gradual sustained growth, rather than FOMO. Instead of a big FOMO-induced peak and crash in a few months there probably will be no parabolic peak. Instead we're likely to get a many-year bull market that gradually heads higher. We're at $50k for crying out loud! 6 months ago anything over $10k was good. Market is looking solid - finding stability in the $40,000s and $50,000s as growth continues on many fronts.

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March 25, 2021, 01:58:13 AM
 #13

What are everyone's thoughts at the moment? Do you still HODL when sell orders as high as 49M are coming through breaking any resistance there was?

It would be interesting to see people's thoughts, as I'm sure many are panicking right now.
Bitcoin Dumps?? Bitcoin breaking supports?? People are Panicking??
I've seen this many times already especially the third one Cheesy.

It didn't reached my target selling price so I chose to HODL and one thing more is that, just after the dump Musk said that he is accepting Bitcoin in his company Tesla which is we know a very big news and it really did made the price of Bitcoin pump a bit again.

P.S. I just visited CMC right now and it went back again to $52,000 and looks like the news yesterday didn't made Bitcoin stay on its price. Ohhhhhh Shit I'm panicking right now Cheesy. The next support that I'm seeing is the $50,000 so be ready Smiley.

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March 25, 2021, 08:29:26 AM
 #14

It would be interesting to see people's thoughts, as I'm sure many are panicking right now.

I do expect panicking some of those who didn't read that the futures will mature tomorrow.
If the trend continues for more than 7 more days, it may be somewhat unsettling for me too. But now? No. Not at all.
Do you, by chance, try to get people panicked? I have a feeling you do.

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March 25, 2021, 09:43:41 AM
 #15

It would be interesting to see people's thoughts, as I'm sure many are panicking right now.

I do expect panicking some of those who didn't read that the futures will mature tomorrow.
If the trend continues for more than 7 more days, it may be somewhat unsettling for me too. But now? No. Not at all.
Do you, by chance, try to get people panicked? I have a feeling you do.
Exactly, we will see the bitcoin future mature tomorrow and then observe what is going to happen next. Previous months says that after the maturation, the price suddenly picks up and then push for another all time high. I'm not saying that the trend might continue, but chances are people are going to buy in the dip again so instead of panicking, smart investors are going to take advantage of this opportunity again to accumulate more BTC.

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robattfield
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March 25, 2021, 09:53:48 AM
 #16

I still hold and have no intention of fearing or selling us this sale, maybe many people start to get scared and assume that the downtrend is starting. But with an optimism, I have full confidence, we will soon see it back to the $ 60k mark, when the past few days are not enough to soothe the fearful heads.

For those who are afraid, keep thinking because only you can help you get rid of extreme thoughts. Smiley

UnDerDoG81
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March 25, 2021, 12:47:11 PM
 #17

We should touch the 40-42k for an healthy slow uptrend afterwards. We all want this thing to go to 6 digits no? Otherwise the top would be reached pretty soon and lower than we want. And we dont want to go in to a bear market already.
raskolnikovx
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March 25, 2021, 01:38:27 PM
 #18

Some of you might have seen the massacre that's taking place right now, with BTC experiencing massive sell orders tumbling it under 53K...

What are everyone's thoughts at the moment? Do you still HODL when sell orders as high as 49M are coming through breaking any resistance there was?

It would be interesting to see people's thoughts, as I'm sure many are panicking right now.

Comments & feedback will be appreciated as always Wink

So far we are experiencing a 15ish% correction. No big deal, this one was coming. According to CM, the complete crypto reported MC lost around 0.3T.
Two outcomes: 1) it does not break 50K and starts building up again, 2) it goes to 40-45K ranges and makes a deeper correction. Personally, I do not see a 40/50 correction happening yet. I handle these dips such as I handle the pumps. FIAT to Exchange, buy at certain points while it's going down until my money is out or the whole thing changes directions and starts recovering. HODL. Ofc for this you have to see this shitstorm coming and sell some coins before the dip starts.
Gozie51
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March 25, 2021, 04:29:16 PM
 #19

We should touch the 40-42k for an healthy slow uptrend afterwards. We all want this thing to go to 6 digits no? Otherwise the top would be reached pretty soon and lower than we want. And we dont want to go in to a bear market already.

The drop is still young to go that down I think so. Though it looks downward but that maybe a correction going on temporary. Price now hanging around $51/52 but I feel much determination will be made incase it dropped to $48k because it has to have a little chilling break there but these are all speculation going on. Major prediction still aiming bitcoin to go around $100k .

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monineklutak
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March 25, 2021, 04:31:14 PM
 #20

it looks like $ 50000- $ 51000 is strong support from Bitcoin, it is very visible that the wick occurs under $ 50000,
most likely the bullish is still strong, as it was predicted that March was a bloody market,
and happened at the end of this month Bitcoin fell more than 10% today, and already down 20% from ATH,
buy gradually at this support, I'm sure Q2 Bitcoin will reach new ATH again.

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