84500 is not a boarding point; only around just over 80,000 is scary enough
Where Bitcoin can go—honestly, I don't know, just hold it. I initially wanted both long and short to profit, but the longs ran early. I kept the shorts.
At 84500, I'm sure it's not the point to pick people up for a trade. At least we need to see around 82800 before we talk about market sentiment. My feeling is that this round may not directly reach 76,000. It will likely first touch just above 80,000—because a Bitcoin price of 87,000 isn't enough to make retail traders go crazy. The big players can't unload everything, so they have to pull it up again. Once everyone believes the bull market is really here and it rallies to just over 90,000, then they’ll dump it back down to below 75,000—that’s the most brutal part. If they just dump it directly to below 75,000, it won’t scare the longs away.
#BTC #market update
Where Bitcoin can go—honestly, I don't know, just hold it. I initially wanted both long and short to profit, but the longs ran early. I kept the shorts.
At 84500, I'm sure it's not the point to pick people up for a trade. At least we need to see around 82800 before we talk about market sentiment. My feeling is that this round may not directly reach 76,000. It will likely first touch just above 80,000—because a Bitcoin price of 87,000 isn't enough to make retail traders go crazy. The big players can't unload everything, so they have to pull it up again. Once everyone believes the bull market is really here and it rallies to just over 90,000, then they’ll dump it back down to below 75,000—that’s the most brutal part. If they just dump it directly to below 75,000, it won’t scare the longs away.
#BTC #market update