Quote from: Sayeds56 on September 11, 2023, 03:34:40 PM

Quote from: FinePoine0 on September 11, 2023, 12:56:18 AM

#Bitcoin    Impulsive Move Nearby. 🚀

The extremely low volatility we are witnessing right now is not something new in #BTC    cycles. It usually lead to impulsive moves.

You are absolutely correct, the historical patterns indicate that low volatility is often followed by sharp and impulsive moves in Bitcoin price. While predicting future price of Bitcoin is extremely challenging task, considering low liquidity in the market and average buying cost of Bitcoin in the range of $23,000 to $24,000, according to on-chain analysis, suggest the possibility of further downward movement in Bitcoin's price before any potential reversal becomes evident.

https://markets.chainalysis.com/#trading

This is exactly my views and I have stated same here. Glad to see you put it in another perspective and with a reference. I have always known that when the consolidation lingers, there are higher chances of sharp moves in the opposite direction to the intended real direction. The market makers do this for two reasons: to seek for liquidity( such as hunting for the stop loss of those who would have entered the market with their protective stops below the range) and to create fear and panic (this is where weak hands sell while strong hands buy more). This pattern is consistent across all tradable asset classes.

Quote from: Greyhats on September 11, 2023, 04:43:18 PM

Quote from: Odohu on September 11, 2023, 12:40:51 PM

Comparing the present market condition to the 15-16k dip is not perfect to me because while the later happened within a very short period of time, the former is still ongoing for about two months and counting.

Look at how long it was in that dip channel at that level. When I look at my avg price on my dca accounting it’s was

2022
Aug 22k
Sep 19.3k
Oct 18.9k
Nov 17.4k
Dec 16.5k

Now when I compare this is to last two months

2023
Jul 30.3k
Aug 26.8k
Sep(mtd) 25.2k

This enough data for me to say they are similar and there is a good chance we are in another great buying opportunity.

Your analysis is good I must admit, however, I want you to look at it from another perspective. You will agree with me that there was no major news/event from 2022 till date that market will respond vigorously to. This a lone is an indication that price movement from next year will be totally different from that of last year till now because we are expecting major news/events next year. If this is correct, do you think the move will just happen without some market manipulations? The big guys will most likely want to buy very cheap; they have different mechanisms through which they achieve this. Buying at the present price level is good and very encouraging but that does not eliminate the possibility of further downside. I am not actually perturbed by further dip because I follow my DCA religiously.