$BTC BTC is a sell-off zone a big opportunity?
$BTC is a big opportunity for investors who decide to stay in the market in the recent context. Last night, October 21, 2024, we witnessed the strongest sell-off of the week, when BTC price fell from 69k to 66.8k with a large trading volume. This is the capital price zone that organizations are using to pour money into to push BTC price to a new high. For this organization to lose, there needs to be a strong selling force that breaks through 66.8k, similar to the situation that happened on September 30, 2024 before a bull trap.
If the price is really broken, we will see a sell-off to around 64k-65k with outstanding trading volume (around 15k vol). Will the bull trap scenario on September 30, 2024 recur after this sell-off?
In my opinion, the possibility of a bull trap is not high in the context of the current positive macro market, when gold and the US stock index (US30) continuously set new peaks. Instead, it is likely that the organization will re-accumulate this week, creating a depressed mentality for individual investors by keeping the price sideways around 66.9k-67.9k before falling to 66k and then moving up.
With the current trend of the organization's play, don't be discouraged and leave the market! Keep a cool head and focus on research and learning
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