BTC - Is the correction still going on?
Updated
👋Hello all
🤔Today let's analyze the chart from the technical analysis side and try to make different scenarios of price behavior.
Bitcoin has corrected 40% from its high, which is quite a big drop, but the market cannot go up all the time without corrections, and that is normal.
🚀We still believe, that the market has not finished its uptrend and is still in a bullish cycle.
However, as you already know, we open and close positions only by the signals of our indicators and trading systems. On the right is one of our strategies, the exit is $58,600. All of our 5 strategies have long shown an exit and you can see it in the past ideas. At the moment we are waiting for entry signals.
😱A lot of positions have been liquidated recently and there are also a large number of people in drawdown. Every day we notice how the fear level is rising, but the big players are waiting for that. It could be argued that after many close their positions at a loss, the market will immediately turn around. But how quickly this will happen and whether the decline will continue is unknown. We would like to assume that this is the bottom, it will be interesting to check our expectations after a while. Write your thoughts about it in the comments, it will be very interesting to read.
❗On the technical analysis side we should highlight the liquidity candlesticks. Many orders are located in them. For those who trade on the purely technical analysis there may be a good opportunity to buy on the rebound or false breakdown of these levels.
💚Like us, subscribe and write down what you personally expect from the market now. Links below
🤔Today let's analyze the chart from the technical analysis side and try to make different scenarios of price behavior.
Bitcoin has corrected 40% from its high, which is quite a big drop, but the market cannot go up all the time without corrections, and that is normal.
🚀We still believe, that the market has not finished its uptrend and is still in a bullish cycle.
However, as you already know, we open and close positions only by the signals of our indicators and trading systems. On the right is one of our strategies, the exit is $58,600. All of our 5 strategies have long shown an exit and you can see it in the past ideas. At the moment we are waiting for entry signals.
😱A lot of positions have been liquidated recently and there are also a large number of people in drawdown. Every day we notice how the fear level is rising, but the big players are waiting for that. It could be argued that after many close their positions at a loss, the market will immediately turn around. But how quickly this will happen and whether the decline will continue is unknown. We would like to assume that this is the bottom, it will be interesting to check our expectations after a while. Write your thoughts about it in the comments, it will be very interesting to read.
❗On the technical analysis side we should highlight the liquidity candlesticks. Many orders are located in them. For those who trade on the purely technical analysis there may be a good opportunity to buy on the rebound or false breakdown of these levels.
💚Like us, subscribe and write down what you personally expect from the market now. Links below
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