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Author Topic: Bothered about every DIP? It's just a mental check.  (Read 277 times)
Ultegra134
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March 22, 2024, 06:38:24 PM
 #41

I used to get extremely frustrated in the past, but I'm now used to it and understand that it's all part of the game. We can't expect the price to keep rising forever; eventually, it'll crash. It's inevitable. I used to get quite stressed and keep checking the price several times per day, but now I've got over it and I'm not bothered at all. On the contrary, I see the crash as an opportunity to acquire discounted Bitcoin. I wasn't even bothered when Bitcoin had fallen to $17.000; I'm not going to let a small dip ruin it now that we've reached a new ATH. On top of that, I wasn't expecting $100,000 anytime soon, so I won't be disappointed if we don't reach that in the near future.

R


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March 22, 2024, 06:41:38 PM
Merited by stomachgrowls (1)
 #42

Traders always think about both scenarios, when there was speculation that bitcoin would go to 100k among maximum crypto investors I thought a correction in bitcoin price would happen soon. Because when maximum people are on one side, the market reacts in the opposite direction. Bitcoin went to new ATH without any correction from 50k, so a correction was expected here. So when the market is now correcting here I am not surprised because I was prepared for it.

I have written many times that Bitcoin will go to 100k but it needs time for the market to make a healthy correction and regain momentum to move to new ATH and even go to 100k.
What we called a market is something that its price would be going up and down and its composed of buyers and sellers and the market sentiments that plays around isnt something that could be know but we could always make out those assumptions on how it would really be moving basing up on the history and past events that we had been able to experience. This is why if you are someone who had been here on this market
for a while now then you would really be expecting those price movements and possible dips or corrections on which we know that this is something that very normal for a market to have.

If you are still that being too impulsive or really that been bothered with dips in price or corrections then better make yourself get used to it because this is something that
you will be able to encounter into this market. If you dont like on this way then this market isnt for you and you could always opt out to turn back yourself away from it
but if you are someone who do accepts out with this probabilities then its would really be just fine and not an issue for you.

R


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March 22, 2024, 07:06:34 PM
 #43

Price repeats, what we have to do really is avoid being spun around till dizzy from tracking a price thats going in circles.   Watch for price action to do something different then you have a reason to act and expect a difference but BTC does its sideways dance quite often moving like a crab is its specialty to throw people off.



Most of March is just the same pricing within a range, slightly negative but not so much you can be too confident we wont attempt upwards once again.   I do think BTC stays within some ranges, once we act different is when I hope to look harder and see new action and movement up or down with a price not yet seen in March.

Weekly average blue above us, Monthly average below and some possibility of these old support lines on the border also.  Mostly we can conclude BTC price action is constricting over time.  So its the lines of a Python if you like Tongue

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March 22, 2024, 07:09:43 PM
Merited by tottong (1)
 #44

What's been your reaction when you're expecting an upward trend up to $100k and boom, it dips back to $61k?
If you're too bothered about this, then you're probably a trader and haven't been long in the system.

This is a mentality checker for those coming into the circle for the first time but for those that have been around for a while, every DIP or bull is to your advantage.

Don't loose sight, keep stacking.

Volatility is normal in the crypto market, so feel free to take advantage of it. You are free to sell your bitcoins whenever you want (especially when the price is favorable), but if you have a strong interest in holding them for the long term then you should accumulate dips. Holding for the long term is much more profitable than taking advantage of short-term volatility. Not only about returns, but your psychology will also be better by ignoring a lot of volatility.

If you have a good budget every month to invest, then I think you need to accumulate every existing dip. Price corrections are an opportunity to buy a lot and build a portfolio, that is the advice I hear most often from experienced investors.

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March 22, 2024, 07:11:13 PM
 #45

What's been your reaction when you're expecting an upward trend up to $100k and boom, it dips back to $61k?
If you're too bothered about this, then you're probably a trader and haven't been long in the system.

This is a mentality checker for those coming into the circle for the first time but for those that have been around for a while, every DIP or bull is to your advantage.

Don't loose sight, keep stacking.
As you mentioned, this is a sentiment shared by traders. No investor who has been stacking bitcoin using any method, particularly those who use the DCA strategy, will be disappointed by the market decline. They always hope for a dip in order to balance their portfolio and accumulate more bitcoin at a lower price. This will hurt traders because some dips always take them out of the market while trading, and some pumps do the same for traders who are selling and shorting the market. Every bitcoin action elicits a response, either to the benefit or disadvantage of those involved. Bitcoin traders experience the two more, while investors are primarily on the advantageous side.
Yes, of course those who trade will feel disappointed when they see a situation like this and for some investors of course they will see the current situation as an opportunity to collect as much as they can to make a profit when prices increase again later, but if they are a traders who choose to turn into investors will of course hold back their assets to be able to profit from holding some of their Bitcoins.

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March 22, 2024, 07:14:19 PM
 #46

This is to be expected before halving because ETFs made us enter the bull phase much faster and now people are confused.
Every previous bull run was the same - you had a slow uptrend towards the halving, then a correction right before or right after, followed by a large impulse candle that goes to the old ATH, then a correction and final big push to a new ATH.
This time we had all of this happen before the halving and to me this is very bullish since this means that we had a small bull run and will get another bigger one after the halving. The cycle is not yet complete.

I don't care if it dips a bit, I've been buying in the last bear run sub 20k and I know we're not going back there. 30k or 80k, who cares if you're in profit?

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March 22, 2024, 08:34:46 PM
 #47

Traders always think about both scenarios, when there was speculation that bitcoin would go to 100k among maximum crypto investors I thought a correction in bitcoin price would happen soon. Because when maximum people are on one side, the market reacts in the opposite direction. Bitcoin went to new ATH without any correction from 50k, so a correction was expected here. So when the market is now correcting here I am not surprised because I was prepared for it.

I have written many times that Bitcoin will go to 100k but it needs time for the market to make a healthy correction and regain momentum to move to new ATH and even go to 100k.
What we called a market is something that its price would be going up and down and its composed of buyers and sellers and the market sentiments that plays around isnt something that could be know but we could always make out those assumptions on how it would really be moving basing up on the history and past events that we had been able to experience. This is why if you are someone who had been here on this market
for a while now then you would really be expecting those price movements and possible dips or corrections on which we know that this is something that very normal for a market to have.
It is difficult to predict which direction the market will go, we can only guess how the market will react in the future. Those who trade for a short period of time analyze the market movements and try to come to a conclusion. Market price moves depending on buyers and sellers, and after going to ATH, there were many sellers which made the market not stable in that price range. There is much more discussion when the market goes into a correction than when the market goes into an uptrend. We're talking about market prices because we're here, and I never panic about short-term bitcoin price corrections because for me it's the long-term price that matters.

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March 22, 2024, 10:38:06 PM
 #48

What's been your reaction when you're expecting an upward trend up to $100k and boom, it dips back to $61k?
I feel that this kind of Bitcoin market price fluctuation is normal.  Bitcoin is tagged as highly volatile so this kind of price movement is not a news or surprising.

Quote
If you're too bothered about this, then you're probably a trader and haven't been long in the system.

Everyone that put money on Bitcoin and sells it according to their target price is a trader.  When you do buy and sell no matter what the gap between these two action, you do trade and when you do trade, and anyone who do trade are called trader.  Even long time trader are bothered by the market movement especially when their target price is almost reached and then the market goes southward.  The only distinction is that long time trader knows what to do about their emotion.

Quote
This is a mentality checker for those coming into the circle for the first time but for those that have been around for a while, every DIP or bull is to your advantage.

True that, it is also a test of one's patience.  Those who have knowledge of the price fluctuation and price cycle of Bitcoin and have patience will always have the advantage whatever the price trend of Bitcoin is.

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