One more leg down

[batang_bitcoin]

That's the reason why I've stopped watching those crypto vloggers, they all say the same thing and just because they've got something to say, makes them an expert.
But no matter what the situation of the market, they'll just continue to do it as they've loved it as a passion and also because of monetization. It's better to read a brief news about the market and good to read topics and articles about what had just happened to the market.

It is getting boring seeing the same stuff over and over again, with the same concept with partially different wordings in it.  I can understand these vloggers somehow since they need to get more traffic to be paid more.  Most of them just pretend to be experts who just copy others' concepts and revise, then, claim them as their own.  The sad thing is most of them actually don't have enough idea of what they are talking about.

It's really a given thing that they look like experts and have vast knowledge about the market. Because that's what they are selling with their viewers.
The look that they have a lot of things that they know is what makes the viewers become more curious about them. But the reality, they all have the same tone when it's about the market.

[Lucius]

How often do you see this sentence posted all over youtube and other social media with people claiming to be experts and analysts claiming that we need another leg down to start a recovery, or to end a bear market, or to reverse the trend?

I will only agree with others that YT and social networks as a source of information are quite unreliable and create a lot of misinformation and confusion, especially when it comes to beginners who absorb it all without any filtering. These so-called experts are nothing but influencers who use all these platforms to make as much money as possible, and it doesn't matter that they are aware that they are releasing a lot of nonsense to the public.
 

I find this to be stupid. They're looking for similarities in the corrective move, ignoring the fact that there weren't many similarities in previous bull runs and this one, starting with the fact that in 2013 btc went 10x, in 2017 and early 2018 it went up 20x and this time in it's worst performing bull market in history, it only made 3.5x.
Their defense is that they're trying to make people aware of what can happen, but they're actually getting lost in the same pattern that last year, in the bull market, made them believe that Bitcoin has to reach between 80k and 100k, with some claiming 150k would be the top.

How much ATH will be in a bull run is not easy to estimate, it all comes down to speculation - but large numbers always attract more visitors, so many deliberately exaggerate. Some do it on purpose to persuade others not to sell, while they slowly take profits all the way up.

As for the similarities after each bull run, I would say that there are similarities that are manifested by a certain percentage of correction, and then over time a certain stability in price as is the case right now. I remember 2015 when the price slipped even below $200 (before that $1100), as well as 2018 when we slipped down to $3000 (before that $20 000).

I wouldn’t say it’s any different now on that issue, we’re in a period of about 2 years after halving, and about 2 years until the next halving - some might say we’re positioned in the eye of the storm, so while everything seems calm I would say that it is only an illusion.

[nebiki]

I find this to be stupid. They're looking for similarities in the corrective move, ignoring the fact that there weren't many similarities in previous bull runs and this one, starting with the fact that in 2013 btc went 10x, in 2017 and early 2018 it went up 20x and this time in it's worst performing bull market in history, it only made 3.5x.
Their defense is that they're trying to make people aware of what can happen, but they're actually getting lost in the same pattern that last year, in the bull market, made them believe that Bitcoin has to reach between 80k and 100k, with some claiming 150k would be the top.

What do you think? Is "another leg down" starting to get old?

what they show is a simple analysis based on very significant chart movements, but from the various analyzes applied by real traders, it is solely for profit not just waiting for prices to rise for reasons every year.
I believe that the creators are only after adsense and their assets are just a gimmick.

[palle11]

What I simply think about the market is continuous dragging of price for more longer time. Yesterday trade showed price opening lower and went further down during the day but it came back up before the closing of the day. The point is we keep trading short and taking profit at it because the bear is still riding while the bull trying ride, don't force the market but do what you see.

[Dhaniii]

I find this to be stupid. They're looking for similarities in the corrective move, ignoring the fact that there weren't many similarities in previous bull runs and this one, starting with the fact that in 2013 btc went 10x, in 2017 and early 2018 it went up 20x and this time in it's worst performing bull market in history, it only made 3.5x.
Their defense is that they're trying to make people aware of what can happen, but they're actually getting lost in the same pattern that last year, in the bull market, made them believe that Bitcoin has to reach between 80k and 100k, with some claiming 150k would be the top.

What do you think? Is "another leg down" starting to get old?

what they show is a simple analysis based on very significant chart movements, but from the various analyzes applied by real traders, it is solely for profit not just waiting for prices to rise for reasons every year.
I believe that the creators are only after adsense and their assets are just a gimmick.

the pattern presented by the analysis is only an issue that makes traders flock to buy bitcoin, it turns out that this issue has no effect at all in real trading. many analyzes reveal that bitcoin will break new ATH and claim that bitcoin will break $100k, but to me that is just a false hope and its hard to break that price any time soon.

[Odusko]

How do you think they would pump out more content when we've been in a sideways chop in this range since fk knows when?

The trick is to simply not watch them. There's so much more productive things to do than watch YouTube "traders".

Perfectly said, just focusing on more productive things other than just watching some YouTube video that will have a negative impression on my emotions, we are all here in the previous bull seasons and we know how the pattern went and so on even in the recent all-time high we witnessed the most glamorous Bitcoin season and at the same time the stormy phase so not listening to some traders signal shit.

[wxa7115]

Better not to watch YouTube with this kind of content or read crypto-twitter because all these pseudo-analysts say the same things. When bitcoin goes up - they talk about ATH and what to buy. When the market goes down, they talk about selling and ATL. It is better to do your own analysis of the situation, because someone else's opinion detracts from understanding the market and can lead to mistakes.

I think this is not simply a matter of being better to make your own analyses of the market but it is the only realistic option, what happens is that when it comes to the people saying those things we know that more than anything they are thinking on benefiting themselves with their statements.

Whether they just want to get more views or they have taken a position in the market and they are looking at manipulating it, the truth is that no one has your best interests at heart except yourself, and with this in mind then you do not really have any other option but to make your own analysis of the market conditions and then decide what you will do based on such analysis.

[Marvell1]

It will probably gonna lost another leg next week.

If I were you OP, I should stop watching those so-called experts on youtube because they don't really care about the price or anything about the market. They are just concerned for the views and if you are a trader you should just read some articles that might help you to know the next move of the market.

And if you are just holding, you should stop watching the price everyday because it won't move just for a single day. Try to minimize watching them or the price so you won't be stressed so much.

We can come up with our own analysis without having to listen to any professional YouTubers, its not wrong to follow to get a broader view of the market, but it is absolutely not advisable to listen and completely believe the claims from them.
As a holder, I think it is enough just to keep an eye on the bitcoin price when the price drops sharply we will buy and buy without worrying too much about the short-term fluctuations of bitcoin.

[adaseb]

Honestly I think we will most likely see a repeat of 2018, where the entire summer is range bound trading. Then late October or November will come around and we will get out move.

However nobody knows which way the move will be. People are already bearish now and people are expecting $20K Bitcoin and they will long there. However with this many bearish sentiment I don’t know if that will happen. Either way it would be a perfect long setup especially if it revisited the 200 wma.

[Semar Mesem]

Today the market corrected sharply, the price returned to below $40k or currently around $37900, but I believe the market will bounce back soon so if we buy now it will make us get big profits, don't panic is the key to profit if we invest in cryptocurrencies.

[davis196]

I've never heard the term "one more leg down",but I don't watch crypto speculators and pseudo-experts on Youtube and social media.There's no point in this(other than having fun watching those pseudo-experts making ridiculous price predictions).

Today the market corrected sharply, the price returned to below $40k or currently around $37900, but I believe the market will bounce back soon so if we buy now it will make us get big profits, don't panic is the key to profit if we invest in cryptocurrencies.

The price will keep moving above and below 40K USD for God knows when.There's no need to make drama out of this,but the newbies and the FUDsters will keep acting as drama queens and overreact every time the price goes below 40K USD.I wouldn't mind if the price drops under 30K USD.The FUDsters and the noobs would probably freak out even more,when the market drops at a 20-30K USD Bitcoin price.

[justdimin]

the pattern presented by the analysis is only an issue that makes traders flock to buy bitcoin, it turns out that this issue has no effect at all in real trading. many analyzes reveal that bitcoin will break new ATH and claim that bitcoin will break $100k, but to me that is just a false hope and its hard to break that price any time soon.

I am not entirely sure if it's a false hope, I mean bitcoin is "technically" could do that and it doesn't look that bad at all. I am not saying that it WILL do that, but it doesn't look like impossible neither.

I feel like there is a good chance we could end up with some huge increases soon, looking at how we dropped and failed to break under 38k, the increase must be close. That’s how market moves, it goes down as much as it could without a huge deal, it may crash even harder if something horrible happened but nothing happened, so it tested the bottom and found it. Now it’s time to accumulate and increase and make a profit based on that, which will test the top we could reach, who knows what it is.

[kotajikikox]

Today the market corrected sharply, the price returned to below $40k or currently around $37900, but I believe the market will bounce back soon so if we buy now it will make us get big profits, don't panic is the key to profit if we invest in cryptocurrencies.

But the OP is asking about or talking about the Last Leg thing in which the strategy of the whales most of the time .
to spread that there would be a super low price first before it happens the Bull , but how would this to come when the market is in climbing situation ?
I'm afraid that this is not what we truly believe as this is a BS belief that needs to be forgotten .

[Reatim]

I am Not falling for this , I have seen tons of same posts through the years and yes? only once that i believe this comes reality instead in all those post majority is a failure or something that intentionally delivered for what intention? i don't know.

These people needs to tell stupid things so they may gather viewers , because if they dont" then their effort will come to nothing because for sure crypto people will never give them a damn .
but if we know how to engaged with those? then there will no be a problem.

Put them in your Ignore and then surely they will lose chances of gaining what they tend to be.

Agreed in this part , Yeah it is sad reality that there are still many that fell into this trap.

Today the market corrected sharply, the price returned to below $40k or currently around $37900, but I believe the market will bounce back soon so if we buy now it will make us get big profits, don't panic is the key to profit if we invest in cryptocurrencies.

this comes the title and this topic . to talk about another Leg Down 

[traderethereum]

At this time, I tend to wait and watch the price in the market and do nothing because this situation is very risky for me if I decide to buy.
I don't want to be stuck at a high price because the current price could fall even deeper.
But it would be different if I wanted to trade today because it would allow me to analyze the situation in the market and determine when to enter the market.
Maybe I'm still looking at the state of the market and haven't decided to enter the market yet.

[Silberman]

It will probably gonna lost another leg next week.

If I were you OP, I should stop watching those so-called experts on youtube because they don't really care about the price or anything about the market. They are just concerned for the views and if you are a trader you should just read some articles that might help you to know the next move of the market.

And if you are just holding, you should stop watching the price everyday because it won't move just for a single day. Try to minimize watching them or the price so you won't be stressed so much.

We can come up with our own analysis without having to listen to any professional YouTubers, its not wrong to follow to get a broader view of the market, but it is absolutely not advisable to listen and completely believe the claims from them.
As a holder, I think it is enough just to keep an eye on the bitcoin price when the price drops sharply we will buy and buy without worrying too much about the short-term fluctuations of bitcoin.

This is just another case of people using the wrong tool for a job, if you need a hammer you do not use a screwdriver to try to accomplish your job, you find the hammer and then you use it, Youtube is a platform of entertainment and it should be used as such, watching funny and entertaining videos is fine, but when it comes to finding reliable information about the direction a particular asset will take then it is simply the wrong tool for the job.

[STT]

Honestly I think we will most likely see a repeat of 2018, where the entire summer is range bound trading.

2018 was a year spent with Dollar index appreciating and that is the atmosphere now.    We have the highest Dollar rating since 2002, so a couple decades of hard rain is falling on BTC beating it back down  and its doing ok so despite that is my view.
   IF we break this current trend it'll relate to the wider move since the start of 2021 and might mean the 20k people see that target achieved.   Some say till we touch that base we cannot move the game on, not sure Im that certain but a check of weak hands is a typical kind of harsh move in BTC I guess.

[GeorgeJohn]

The way BTC is acting a flush out is going to occur.  Reason being its failing below moving averages and also challenging a trend true over many months many times now.   One day it stops holding us up and we take a tumble down the mountainside.   It can recover but first we trade down seems more often to become likely every day is how it appears.

That's while bitcoin is not predictable, when i made my findings i conclude that while Bitcoin is having hardship of propagation is because bitcoin demand and supply is not working correspondently  in it's market sphere, when you say flush out, really i have seen that bearish season is taking much dominate that bullish season, so i will re- channel this as results of market retracing, and it can accelerate well when the demand is mega.

[justdimin]

At this time, I tend to wait and watch the price in the market and do nothing because this situation is very risky for me if I decide to buy.
I don't want to be stuck at a high price because the current price could fall even deeper.
But it would be different if I wanted to trade today because it would allow me to analyze the situation in the market and determine when to enter the market.
Maybe I'm still looking at the state of the market and haven't decided to enter the market yet.

What you can do if you think that it will drop is getting in a bit, and if it goes up then you profit just a bit, better than not profiting at all, if it goes down then you get in a bit more, and then a bit more, keep doing that until it doesn't get any lower. Obviously it is not going to be something that lasts forever, but it will be a decent addition for sure.

I believe that we should be profiting from the current situation because everyone is confused, and with DCA while going down, we could accumulate as much as we need to and whenever it goes up we could start selling little by little as soon as it hits the profit range and get ready for another fall.

[gantez]

I believe that we should be profiting from the current situation because everyone is confused, and with DCA while going down, we could accumulate as much as we need to and whenever it goes up we could start selling little by little as soon as it hits the profit range and get ready for another fall.

Everyone also wants to profit from the leg down but it is not easy, it is still a risk looking like you are going to be trapped in there. Accumulation is what we desire but no certain way to get that to happen, now hodling the bear looks confusing like you don't know if the price keep crashing to down or if it is going for rise up soon.