Market Correction

[R100K-Martin-Lunger]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

[Fatunad]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

Corrections are common and to those people who had been liquidated are the ones who had been hit up by counter trend. So this is something that new anymore.

You want some heatmap.? Check in here.
https://www.coinglass.com/LiquidationData

Talking about liquidations then this might be not updated but this could at least put some picture out.
Roughly $260 million of longs were liquidated on April 19; this is the biggest liquidation for longs in 2023.
Roughly $250 million of shorts were liquidated on April 14, previously the most liquidations seen this year.
Source: https://cryptoslate.com/insights/biggest-long-liquidation-event-for-crypto-in-2023-took-place-on-april-19/

Numbers are counting adding up into those recent liquidations.
So why would you care that much about to those people who had lost up their trades?
What specific details you do really want to hear? Aside on getting liquidated?

[goaldigger]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

This is the risk of being too greedy and not setting your stop loss price, we know that the market is still not stable and yet we choose to be more greedy.

The correction is normal and you should always anticipate it. Futures liquidity always at a bigger risk, I’m still wondering why many are not using the stop loss feature especially when they are away from their monitors and still have an open position.

[Johnyz]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

Every market have their own correction cycle and in crypto, you can always see it.
Those who got liquidated probably forget to set their stop loss and think that Bitcoin will finally reach its peak that easily without entering into any corrections.

As you trade, you have to be more conservative and lower the risk that you are taking, don’t ever trade without your target price and your cut loss price, this is a trader with a responsible decision making.

[terrific]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

I don't because I don't publicize my trades anymore. Just for my own safety, if someone asks me directly about crypto or trading, I'd speak to them.
But I have seen a lot of people that have been liquidated on it but basically these are just small traders and this is nothing to make them worry about.
What details you want to know? Usually, there's no difference from most of them because if they're liquidated, that's it.

[taufik123]

There is no need to panic about the correction that occurred this week, isn't this a natural thing and indeed should happen.
Because Bitcoin price has also been overbought and needs this correction for the trend to remain good.

There is no loss I get before I sell the Bitcoin I hold.
It still has the advantage of being only for the long term.

And see how Bitcoin stays held at the $40k support, and that's strong enough support for Bitcoin not to drop.
I believe towards the end of the year the price will increase again higher than it is today.

[MusaMohamed]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it?

If you are a holder who hold your bitcoin in your non custodial wallet, you are not affected by market, centralized exchange liquidations.
If you are  a trader who trade with Spot only, don't use any leverage, don't use Futures, you are not affected by liquidations.

If you don't take high risk with leverage or Futures, you will see corrections as very healthy corrections to keep the marketing running towards its bull run in 2024. Bitcoin halving is around the corner as it will happen in April 2024.

With this view, you will see corrections as very great chances for you to accumulate more bitcoin with discount prices.

[Ben Barubal]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

Every market have their own correction cycle and in crypto, you can always see it.
Those who got liquidated probably forget to set their stop loss and think that Bitcoin will finally reach its peak that easily without entering into any corrections.

As you trade, you have to be more conservative and lower the risk that you are taking, don’t ever trade without your target price and your cut loss price, this is a trader with a responsible decision making.

  Only bitcoin experts can actually keep up with the correction you are talking about. Then another thing you say you saw is just your assessment, and it's not 100% certain that it will actually happen. Even if you say that you have a source link for that, if there is, it will still remain speculation.

  Even though I see a correction in the market, I cannot say that this is what will happen; it can happen and it can also not happen. Because the market is so volatile and unpredictable, the same thing happens to the ecosystem we live in for a few years.

[adaseb]

This happens all the time, it’s mostly due to derivatives. Instead of buying spot where you can’t get liquidated people buy using futures and have leverage as high as 100x and easily get liquidated with a small move.

Even those with only 10x leverage got liquidated because it they bought at $44K and used 10x leverage, they would be liquidate around $40K or so. And 10x leverage is not considered that large.

[CODE200]

There is no need to panic about the correction that occurred this week, isn't this a natural thing and indeed should happen.
Because Bitcoin price has also been overbought and needs this correction for the trend to remain good.

There is no loss I get before I sell the Bitcoin I hold.
It still has the advantage of being only for the long term.

And see how Bitcoin stays held at the $40k support, and that's strong enough support for Bitcoin not to drop.
I believe towards the end of the year the price will increase again higher than it is today.

I've seen or read it somewhere that when the price of bitcoin started going to 45k or so, that it was just begging for a correction which has finally happened and I am thankful for that because that means that I can still be able to buy some bitcoin and get some more out of my purchase. Good thing that I've taken a profit when it was going up, knew that it's going to go down anytime soon and I might as well sell half and get some profit out of the increase in prices.

[taufik123]

I've seen or read it somewhere that when the price of bitcoin started going to 45k or so, that it was just begging for a correction which has finally happened and I am thankful for that because that means that I can still be able to buy some bitcoin and get some more out of my purchase. Good thing that I've taken a profit when it was going up, knew that it's going to go down anytime soon and I might as well sell half and get some profit out of the increase in prices.

If you benefit from such gains when Bitcoin reaches $44k, then congratulations and enjoy those gains.
however, you should not forget that some of these corrections indicate that Bitcoin will rise again soon.

The Bitcoin trend is quite good because of the Bitcoin Halving support that is a few months away.
It will be a good trend and continue to be talked about, Start collecting Bitcoin and altcoins with potential and hold until it reaches the highest price target.

[OcTradism]

If you benefit from such gains when Bitcoin reaches $44k, then congratulations and enjoy those gains.
however, you should not forget that some of these corrections indicate that Bitcoin will rise again soon.

The Bitcoin trend is quite good because of the Bitcoin Halving support that is a few months away.

A trend is a friend and the coming trend is bullish so any correction is for a higher high. It is different than in a bear market, when after bouncing well, price will be corrected and a lower low will be seen.

It will be a good trend and continue to be talked about, Start collecting Bitcoin and altcoins with potential and hold until it reaches the highest price target.

It is safer to don't touch altcoins right now if you are not consider yourself as an altcoin holder. If you only speculate the price and bet that price will rise more and you will get quick profit, it is not a good time for it.

Altcoins are risky now for short term traders and speculators because many of them rose a lot recent months.

[Zaguru12]

Even those with only 10x leverage got liquidated because it they bought at $44K and used 10x leverage, they would be liquidate around $40K or so. And 10x leverage is not considered that large.

Over the past few weeks it seems bitcoin has actually set a support level above that $40k price which could actually make them save from liquidation but I am thinking that will change should either it will go up if the ETF spot gets approved or will break it if it gets rejected or postponed.

I've seen or read it somewhere that when the price of bitcoin started going to 45k or so, that it was just begging for a correction which has finally happened and I am thankful for that because that means that I can still be able to buy some bitcoin and get some more out of my purchase. Good thing that I've taken a profit when it was going up, knew that it's going to go down anytime soon and I might as well sell half and get some profit out of the increase in prices.

It’s a great thing you have taken profit at your price target, taking profits base on price target seems to be more secure to me than using time frame, although you will get gutted when it actually grows more but still a little profit is better than not getting any at all. For re accumulation I will advice you to start DCA because with bitcoin rallying up again and looking to find support between $40k to $42k I am not so sure that would break now except the anticipated ETF approval takes a different turn.

[Zigabel]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

I didn't experience any loss that day neither do I know anyone who had a loss that day but then this a normal situation that occurs in the market most often and we are to be cautious enough to notice them and make sure to not be caught up in the frenzy of the losses, one of the ways we could possibly be mindful about it is by exiting once we notice some of the early confirmations that are indications about possible reversals for corrections.

[borovichok]

I didn't experience any loss that day neither do I know anyone who had a loss that day but then this a normal situation that occurs in the market most often and we are to be cautious enough to notice them and make sure to not be caught up in the frenzy of the losses, one of the ways we could possibly be mindful about it is by exiting once we notice some of the early confirmations that are indications about possible reversals for corrections.

We trade and wait for confirmation, we should never dwell on mere guessing strategy rather we ought to understand the market. Losses are counted on regular basis in the market, losses are only recorded after failing to spot out promising projects in the system. The indication is mapped out as good sign of winning but we just have to be careful on confirming opportunities in the market or in a single trade. Whenever I'm in the market, I ensure to triggered good position on confirm entries. Market correction can only be triggered during bull and bear season.

[ZAINmalik75]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

It was not some fundamental factor that cause that temporary correction instead it was a technical one therefore we are calling it a correction and to be honest I was expecting one but did not expecting one so soon therefore I was also shocked but fortunately as a Muslim I avoid future trade and many of my fellow too.

Therefore due to this avoiding I was saved by the market as I don't trade in future but profile looks red when it dumped but I had enough belief in the market that it will recover soon and will try to cross the ath of this year again and will break through.

The dump was so quick that more than 500 million dollars were liquidated at that day and people were really frustrated but they should not do future trading until they see a good opportunity.

[EarnOnVictor]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

I am a private trader and a careful one for that matter, I do not take excessive risk and I know how to liquidate my positions when seeing the warning sign of a potential retracement or reversal on the chart. This is why I plan my trade very well before I open the risk and I do this in such a way that it helps me have enough margin that can sustain my account in time excessive drawdown before the positions get liquidated. This was what I observed this time on Bitcoin too, because I saw the trouble coming early enough, which I believe every reasonable trader should know as well not after the damage is done. Also, I don't know traders who got caught in the web of this recent retracement. I always advise the ones I know right before issues arise. But for so many others that are known, they are investors rather than traders, so they do not have to worry about a mere retracement. The market will always retrace against those who HODL it, but it's certainly not a cause for worry. The market that retraces is the same market that will double the earnings for them when the time is ripe.

[tvplus006]

... If so, would you mind sharing some details about it?

Not everyone lost their money on the Bitcoin dump, but only those who had open long positions on futures and who did not use stop loss. But besides them, there were many traders who expected a correction and accordingly opened short positions and as a result received a good profit.

[MFahad]

Hi guys, The correction we saw in the market earlier this week led to a lot of liquidations. Were you or anybody you know involved in a losing trade that day? If so, would you mind sharing some details about it? Thanks, Martin

Of course, many people's accounts have been washed,but in futures trading we must not always ignore that if we can make a very good profit, our risk of loss is also greater than that.Therefore, people who trade with high leverage usually suffer more losses, so you should always protect yourself with low leverage and stop loss.

I personally don't do futures trading and never intend to, because it doesn't feel right to me anyway so I always prefer spot trading.I often see the market go short where people try to go long and the market goes up where they expect to go short,and thus people's accounts lose a huge amount.This is the cryptocurrency market, there are often cases like this.What details will they provide to you Everyone knows how people's accounts are treated in such a situation.

[Zanab247]

There is no need to panic about the correction that occurred this week, isn't this a natural thing and indeed should happen.
Because Bitcoin price has also been overbought and needs this correction for the trend to remain good.

There is no loss I get before I sell the Bitcoin I hold.
It still has the advantage of being only for the long term.

And see how Bitcoin stays held at the $40k support, and that's strong enough support for Bitcoin not to drop.
I believe towards the end of the year the price will increase again higher than it is today.

I think, those that was panicking for the dump of the BTC are those that newly started trading because many old traders continue hodling their coins once they discovered that there is a changing in the market price that will make traders not to achieve what they want in the market than to apply stop loss at the moment. Despite the dump of BTC in few days ago, there is still a hope for the Market price to return back to $50k before the end of this year which is the target of some traders before they can trade to take a profit from the market.

The market price is about to move from $40k to a higher position that will attract more traders to know that this bull run that is coming will be a long bull run that will reach next year before the bear run will come back for traders to buy again and hodl.