Possible massive longs liquidation, this might not be the bottom. Always use stop loss and be safe.
A this moment you can think ohh btc is so cheap im going to get a bag, i will be a hero, i will catch the bottom.
But witch bottom? the 39k, the 35k one or may be the 29k one, is the last one a broken support? It's true that btc is really cheap and i don't encourage you to avoid buying but is recommended to wait for a confirmation first.
If i open a short now i may short the bottom or i may short one of the bottoms and buy back at 19k.
Conclusion:
Taking in to account that the 95% of the traders losses money, when i see the btc longs surpassing by a 40% the all time high and the USDX too breaking out i would
expect btc to keep falling.
Sometimes the price is going down because the people is selling and sometimes because longs are being liquidated
This is not a financial advice, only my speculations.
Buy and you may catch the bottom i will be happy if you are successful and make profit i only share a possibility.
A this moment you can think ohh btc is so cheap im going to get a bag, i will be a hero, i will catch the bottom.
But witch bottom? the 39k, the 35k one or may be the 29k one, is the last one a broken support? It's true that btc is really cheap and i don't encourage you to avoid buying but is recommended to wait for a confirmation first.
If i open a short now i may short the bottom or i may short one of the bottoms and buy back at 19k.
Conclusion:
Taking in to account that the 95% of the traders losses money, when i see the btc longs surpassing by a 40% the all time high and the USDX too breaking out i would
expect btc to keep falling.
Sometimes the price is going down because the people is selling and sometimes because longs are being liquidated
This is not a financial advice, only my speculations.
Buy and you may catch the bottom i will be happy if you are successful and make profit i only share a possibility.