Bitcoin Correction: Is Accumulation Starting?

[Obim34]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

There is a possibility of price fallen below $60K but nothing below $50K, In this sense i don't consider it a heavy fall. The year started at $97K and we touched the bottom of $58K last month, the big gap is the biggest drop we will experience through out the year, any further crash is in respect to market condition, with whales selling, aside this, I don't think there will be any further large drop.

[BALIK]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

There is a possibility of price fallen below $60K but nothing below $50K, In this sense i don't consider it a heavy fall. The year started at $97K and we touched the bottom of $58K last month, the big gap is the biggest drop we will experience through out the year, any further crash is in respect to market condition, with whales selling, aside this, I don't think there will be any further large drop.

As long as the bear market is not over, we should not rule out the possibility of Bitcoin falling to $50k. However, even if that happens, it would not be a major decline compared with the drop from $126k to around $65k that we have already seen.

If Bitcoin fall to $50k, it would mean an additional decline of only about 23% from the current price. To me, that's not a worrying decline.

Therefore, whether Bitcoin fall to $50k or not, I think this is already a good time to accumulate for the long term.

[The Cryptovator]

People generally focus on the short-term trend in the Bitcoin price action, yet sometimes it is good to look beyond that.
There are indications of an upcoming accumulation stage in Bitcoin after the recent correction. The overall market sentiment has turned cautious, weak hands have exited the market, and long-term holders are waiting for opportunities.

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

In the current chart, it seems people are accumulating Bitcoin. It's been a while that Bitcoin has just kept dumping. So it has to pump again; hence, I can see Bitcoin has an accumulation zone, and I believe people are accumulating as well. If Bitcoin keeps up above, hence for a few more days, and the accumulation zone is below that, then we may see the beginning of another bull run.

For me, I have been accumulating since it has been dumping, though the amount is pretty small. Many people keep thinking and asking if they could buy it now. It doesn't work, probably. They might think people are at the beginning of not considering Bitcoin right now, hence waiting to accumulate. However, we still have time to accumulate better through DCA like me.

[danherbias07]

Good buying chances. If this sticks from $60k to $65k, some investors may be forced to buy, thinking this could be the path to going up again. The resistance was very strong after it went down to $59k. It hasn't come back there for 3 weeks now.
So, I am crossing my fingers that it won't, and maybe it will push retail investors also to buy Bitcoin now instead of regretting it later. The FOMO will probably come, and it will boost the value of Bitcoin again. We just don't know the roof, but profits will still be profits for those who are seeking short-term investing.

[cxtreenal]

Expect another big drop and accumulate Bitcoin steadily in the present. I suggest preparing for a big drop in price to increase cash flow so that you can buy Bitcoin more aggressively at that time. Being prepared for the drop wave will make it easier to run a consistent DCA through discretionary income because the bull run will start after a certain period of correction.

Accumulate Bitcoin with a long term aim, This aim should be consistent with your income This consistency should not be based on pressure or emotion It should be based on reality such as cover family needs and maintaining proper cash flow and increasing the size of your Bitcoin portfolio for the future.

It is almost certain that a bull wave will start in the future. We are in the middle of the post halving period and to ensure the right use of this time, we must have a regular DCA method during the price drop season.