The cryptocurrency market is likely entering a correction
I have opened a short position, but I won't mention the price point, as you wouldn't be able to follow it anyway. The reason is that on the long-term charts (4h, 6h), there have been slight increases on high volume and sharp declines on low volume. Also, the 1h and 15min charts show similar patterns. I have a faint feeling that there are many more sell orders now; from the lowest point, the market has rebounded nearly 20%, indicating strong selling demand. Non-farm payrolls are generally a positive factor, but today’s trend did not close higher, so it seems the market has already priced in many favorable factors. This is purely my personal opinion and should not be taken as investment advice.
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