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.

[Wiwo]

The best approach is to hold alot of USDT, or other stablecoins if you have enough cash flow available.

Always waiting and ready for any possible dip to happen to buy more bitcoin at discounted price.

We expect bitcoin to possibly touch the below 60k price region for multiple times before the next bull market can occure at lead the liquidity to take bitcoin to it uptrend direction of price is still not visibily available yet.

[GreatArkansas]

(...)
In my opinion, Bitcoin might remain volatile in the short-term perspective, but its fundamentals and increasing adoption makes it interesting for the long-term future.

What do you think?

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

I can still see $60,000 level is the significant support here, means we can still drop anytime at $60,000. Even we already in $65,000, I am still not fully confident that we will continue to $80,000 without droping to $60,000.
What good thing is, if we can close above $65,000 this month, that's a short term bullish for me. The longer we stay near $65,000, the more I am convinved, so let's waiyt the monthly closing this time.

[AVE5]

In my opinion, Bitcoin might remain volatile in the short-term perspective, but its fundamentals and increasing adoption makes it interesting for the long-term future.

You're otherwise saying there're terms that bitcoin is non volatile which is totally wrong.
But I think you mean the attributes in the main times based of the impression of the uptrend volatility may only last for the short term which could be true because, bitcoin is volatility is unpredictable and can sustain a particular trending phase within the period of time.
With further perspectives as always been analyzed, bitcoin will remain a store of value as long it remains volatile while adoption is still uprising.

[dwyane36]

I can still see $60,000 level is the significant support here, means we can still drop anytime at $60,000. Even we already in $65,000, I am still not fully confident that we will continue to $80,000 without droping to $60,000.
What good thing is, if we can close above $65,000 this month, that's a short term bullish for me. The longer we stay near $65,000, the more I am convinved, so let's waiyt the monthly closing this time.

I wouldn’t focus specifically on the $65k level right now, since I think it’s just a short-term level. Personally, what concerns me most is how BTC will react to the $68-70k range if it gets there.
As for the support level around $60k, it’s worth noting that it has already been tested multiple times, which raises the question of whether the bulls still have enough strength to defend it if the bears decide to test it again.

[LogitechMouse]

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In my opinion, Bitcoin might remain volatile in the short-term perspective, but its fundamentals and increasing adoption makes it interesting for the long-term future.

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's a very, very, very, very famous quote that says, "Be fearful when others are greedy and greedy when others are fearful."
If you've been investing for a long time, you've heard that quote more than once already.

Anyway, we are still in the "Fear" category based on the fear and greed index with 39, and majority of the investors here who have been investing for years will agree to me if I say that this year is a good year to accumulate Bitcoin and maybe some top altcoins as well to hold for years until the next bull run happens. Bitcoin's still in an accumulation phase, and based on history, bear markets usually lasts for years, and if we will track when the bear market has started, there's a chance that it will end somewhere in October of this year.

While I still believe that there will still be a huge drop that could happen in the next weeks, I also don't deny the fact that the $57,000 might be the bottom of the bear market cycle already. Of course there are some factors that could affect it just like the war that's currently happening, or some macroeconomic events that could affect the global market. For me, one thing's for sure. Now's the right time to accumulate Bitcoin and other altcoins to hold for years.

[OgNasty]

I look at the chart and I just see lower highs. Sure, we are above the downward trend line at the moment, but that is nothing new. Unless we break above $82K, the downward trend is very much in tact and that is a long way up from here. I say we hit $54K before we hit $83K. I wouldn’t buy or sell right now if I were a trader.