In the last 24 hours, the market has faced a correction, with $BTC dropping from $102K to $97K, turning the market “red.” What should crypto market participants do during times like these?
1. Stay Calm
Corrections are a natural part of a bull market. Early buyers often take profits, causing temporary price dips. Keep an eye on catalysts for 2025, such as potential market tops later this year and Donald Trump’s inauguration on January 20, 2025.
2. Identify Strong Support Areas
If you’re planning to “buy the dip,” start by identifying strong support levels on the daily or weekly charts. Focus on psychological levels and chart patterns before making any moves.
3. Avoid Leverage, Use Multiple Entry Strategies
In a red market, steer clear of leverage—especially for buying corrections. Using spot market strategies and implementing multiple entry points will help minimize risks like liquidation.
4. When in Doubt, Stay Out
If you’re unsure what to do during a correction, the safest strategy is to stay out. The market operates 24/7, so there will always be new opportunities waiting.
Patience and discipline are key. Don’t let short-term volatility disrupt your long-term plans!
