Bitcoin : Look at the biggest picture
BTCUSDT / 1D
Bitcoin has been trading overall in a bullish structure. But, based on recent price action, we notice the pull run is slowing down.
Despite all the hype surrounding the crypto market, a natural correction is needed. The price was overbought at 66k, in such markets, the price has to naturally return to the true value (that's how supply and demand work).
It all comes to one thing if you're a long-term investor, such pull-backs shouldn't shake you from your position. But, if you are a short-term trader, you should understand that following the hype only and neglecting the basis of the markets will cause you damage.
While trading, focus on one thing, would you buy something overpriced? or wait till the discount comes?
Trade safe,
Trader Leo.
Let me know your opinion about where this market is heading.
Bitcoin has been trading overall in a bullish structure. But, based on recent price action, we notice the pull run is slowing down.
Despite all the hype surrounding the crypto market, a natural correction is needed. The price was overbought at 66k, in such markets, the price has to naturally return to the true value (that's how supply and demand work).
It all comes to one thing if you're a long-term investor, such pull-backs shouldn't shake you from your position. But, if you are a short-term trader, you should understand that following the hype only and neglecting the basis of the markets will cause you damage.
While trading, focus on one thing, would you buy something overpriced? or wait till the discount comes?
Trade safe,
Trader Leo.
Let me know your opinion about where this market is heading.
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