A correction refers to a rapid price decrease, which traders can use to their advantage with the assistance of cryptocurrency trading bots. Although the definition for a correction differs, it is most often used to describe a rapid decrease in an asset’s price, usually at least 10% and up to 20%. If an asset falls more than that, the price dip is classified as a … [Read more...] about Strategies for trading cryptocurrency during a correction, explained
Correction
Bitcoin correction weakest of 2021 so far, as hopes of Santa Claus rally rise
In previous bull market cycles, there has been a measurable correction before a rally at the end of the year — and if history rhymes it could be on the cards again.We’ve certainly experienced the correction: Bitcoin hit an all-time high of around $69K on Nov. 10 and has retreated around 17% to current levels.Some mainstream media outlets such as Forbes have taken the view the … [Read more...] about Bitcoin correction weakest of 2021 so far, as hopes of Santa Claus rally rise
Key data points suggest the crypto market’s short-term correction is over
The performance of cryptocurrencies in the past seven days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% until Nov. 28, but it still managed to close the week up … [Read more...] about Key data points suggest the crypto market’s short-term correction is over
Bitcoin bounce signals the end to the least severe correction of 2021
After hitting a new all-time high of $69,000 on November 10, Bitcoin has been caught in a downtrend. Friday’s 9% swing to the downside sent jitters across the market, but strong support at the $53,800 level proved fortunate for bulls.Since then, two further retests at $53,800 have also held firm. Crypto YouTuber Lark Davies observed that the latest bounce keeps alive a … [Read more...] about Bitcoin bounce signals the end to the least severe correction of 2021
Bitcoin extends correction as Ethereum sees ‘picture perfect rejection’ at all-time highs
Bitcoin (BTC) stayed closer to $60,000 on Oct. 22 after the largest altcoin, Ether (ETH), failed to cement new all-time highs.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewETH all-time high? Blink and you’ll miss itData from Cointelegraph Markets Pro and TradingView ETH/USD just match its record $4,380 on Bitstamp before seeing a harsh rejection.Traders watched in … [Read more...] about Bitcoin extends correction as Ethereum sees ‘picture perfect rejection’ at all-time highs