The market tries to move below the support zone formed by 4000.00 support level and SMA50. MACD confirms downward movement. DMI shows trend markets conditions and confirms downward movement too. If the market does not bounce from this support zone within several days, probably we'll see falling to SMA100. But for this the market will have to break 0.382, 0.5 and 0.618 Fib levels. If the market reaches SMA100, it will be good place for buying. You can look at the previous correction on the chart. The market dropped from 3000.00 level and bounced from SMA100. After that we had a huge upward movement to 5000.00 level. The correction which we have now also can be realized in the same way.
@BigD2017, Chill out man the market will recover, it will take a few weeks/month but it's not over. The sky isn't falling sure it's a loss if you withdrawal now but give it some time it'll come roaring back!
Jazzoats
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@BigD2017, most traders using technical analysis knew that prices were going to drop to these levels temporarily weeks ago.
PipEze
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@Jazzoats, is this what You are talking about? Never mind few weelks. This one is only 1 day old
@Jazzoats, what about this one calling BUY SIGNALS
SVTPremium
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@balocik, It's true he made these predictions. Please note that he always noted an escape plan as well.
While I disagreed with him, just made my own analysis and traded on my way. He gives his thoughts free of charge, works for you and yes, even if he is a good trader in my view, those forecasts were not the best...
Why to bash him?
PipEze
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@bonodi, You misunderstood me. I'm not bashing DLavrov I'm bashing this quote "@BigD2017, most traders using technical analysis knew that prices were going to drop to these levels temporarily weeks ago." It's total rubbish saying that most traders new about prices dropping from 5000 to under 4000 weeks ago. If that would be true than we are all millioners in one week. Most traders do predictions but no one cares about people who follow this predictions. It was only 10 days ago when most of them TA experts were shouting that BTC will be at least 5700 by now. Whoever believes in that story is either super rich or super stupid.
SVTPremium
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@balocik, Well, I warned and gave clear sell signal 1 week before the crash. You just need to go on your own way and ignore the noise of other traders. however, sometimes they have good ideas, an interesting technique or consideration, that's why I like this site. I don't rely on their analysis.
Also, for e.g. Dlavrov explains very patiently and in a good detail I just have not time to do in my posts. Also something to learn.
And, baloick, BTC is poised to be 10000k in a year or two. It's a popular money, it has a proven record for value exchange, it has more and more connections to the real world monetary system via cards and ATMs and BTC enabled webshops, so even we could eyewitness a hysteric bubble period since june, a deflating money which is respected as a tool for value exchange among rising number of users... it's an e-gold I must say.
I dropped half of my BTC a few days before the correction and will seek for a re-buy in a few days or weeks-depending on my signals. The secular bull is still intact.
PipEze
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@Jazzoats, the point is same people tell You that they are super confident that today is a LIFETIME opportunity to buy BTC and the very another day they are saying that CORRECTION was on the way and it's totally ok that price dropped 1000$. Nobody is saying - hold on BTC is costing 5000$ and it's worth almost 4 time price of gold, that goes a bit crazy and probably bubble will pop soon. No there's no such comments. Greed this is what's going on and smart money knows that and lough.