๐ $BTC is in a correction โ What should you watch next?
The market is seeing selling pressure that causes $BTC to continue weakening. However, a correction does not necessarily mean the long-term trend has ended.
A few notable points:
๐ธ Selling volume is increasing, indicating that bears still have the upper hand in the short term.
๐ธ If Bitcoin fails to hold the current support zone, the price may continue to test lower support levels before new buying pressure appears.
๐ธ Conversely, if a reversal candle forms with heavy volume, that would be the first sign that buyers are returning.
Right now, Iโm not rushing to bottom-pick. Instead, Iโll wait for confirmation signals rather than buying just because the price has dropped.
๐ In the crypto market, preserving capital is always more important than trying to catch the exact bottom.
In your opinion, is this just a corrective wave or the start of a deeper downtrend?
$BTC #bitcoin #crypto #BinanceSquare
The market is seeing selling pressure that causes $BTC to continue weakening. However, a correction does not necessarily mean the long-term trend has ended.
A few notable points:
๐ธ Selling volume is increasing, indicating that bears still have the upper hand in the short term.
๐ธ If Bitcoin fails to hold the current support zone, the price may continue to test lower support levels before new buying pressure appears.
๐ธ Conversely, if a reversal candle forms with heavy volume, that would be the first sign that buyers are returning.
Right now, Iโm not rushing to bottom-pick. Instead, Iโll wait for confirmation signals rather than buying just because the price has dropped.
๐ In the crypto market, preserving capital is always more important than trying to catch the exact bottom.
In your opinion, is this just a corrective wave or the start of a deeper downtrend?
$BTC #bitcoin #crypto #BinanceSquare