The price of BTC continues to decline within the descending momentum.
Now it is fashionable to publish information about mass liquidations of traders' positions and, in general, liquidation is an excellent tool for market makers to write off liabilities and generate profits for exchange and brokerage institutions.
Paying attention to the news feed, one cannot help noticing how very often the information about the price reaching historical lows is mentioned soon.
I am not sure that with the current decline it would be logical, because it would be much more interesting to continue the upward correction and liquidation of traders, who took a short position in the hope to close them below $17k.
After such a scenario, it would be logical to reverse the price and put a fat point on the breakdown of $17k, when the main mass would give up the idea of updating the lows.
In general, for now, I'm set to buy at $19k to $20k, with certain signs of weak seller pressure. In addition, many altcoins are also building a similar structure, which hints at an upside shot soon.
Be careful and follow market dynamics.
Now it is fashionable to publish information about mass liquidations of traders' positions and, in general, liquidation is an excellent tool for market makers to write off liabilities and generate profits for exchange and brokerage institutions.
Paying attention to the news feed, one cannot help noticing how very often the information about the price reaching historical lows is mentioned soon.
I am not sure that with the current decline it would be logical, because it would be much more interesting to continue the upward correction and liquidation of traders, who took a short position in the hope to close them below $17k.
After such a scenario, it would be logical to reverse the price and put a fat point on the breakdown of $17k, when the main mass would give up the idea of updating the lows.
In general, for now, I'm set to buy at $19k to $20k, with certain signs of weak seller pressure. In addition, many altcoins are also building a similar structure, which hints at an upside shot soon.
Be careful and follow market dynamics.
Comment:
Trading plan for CVX-
