🚨24 hours of slow but notable decline in $BTC 📉
KEY SUPPORT: 82K
There’s no doubt that the mother cryptocurrency leads the way and sets the course for the ecosystem; an average drop of 2.5% in #bitcoin moved the market at will, but it was necessary given the circumstances of the last 7 days, when sideways movements were the order of the day and token prices sometimes looked like a photograph—static and completely motionless.
The drop wiped out millions in leveraged positions held by those who still believe in the potential bull market; but failing to anticipate it was the real mistake. Corrections during this period are normal and even necessary for the bullish momentum the market is calling for. If selling pressure (from a minority) subsides and institutional demand increases in response to the price opportunity, we’ll see an immediate recovery of the support that had been holding up the queen of this board. 🔥
KEY SUPPORT: 82K
There’s no doubt that the mother cryptocurrency leads the way and sets the course for the ecosystem; an average drop of 2.5% in #bitcoin moved the market at will, but it was necessary given the circumstances of the last 7 days, when sideways movements were the order of the day and token prices sometimes looked like a photograph—static and completely motionless.
The drop wiped out millions in leveraged positions held by those who still believe in the potential bull market; but failing to anticipate it was the real mistake. Corrections during this period are normal and even necessary for the bullish momentum the market is calling for. If selling pressure (from a minority) subsides and institutional demand increases in response to the price opportunity, we’ll see an immediate recovery of the support that had been holding up the queen of this board. 🔥