Market Tips
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🎯BITCOIN ABOUT TO DUMP?
$BTC
BTC has been consolidating around the $90 - 100k price now for 20 days or so, the weekly time frames are clearly showing price slumping as liquidity and volume slows down due to traders liquidating positions and capitalising at the 100k mark.
I do believe people are still buying BTC and there will be LOTS of fomo buyers at this price, but usually this is where the markets catch those who are to late to the party and they are the ones who are stung when price dumps.
There is some TA to back a potential dump, we have the slumping of price clearly shown by the candle formations, rejections of major key levels (100K) as well as some patterns like a rising wedge / rising consolidation however i'm not much of a pattern trader but it is worth taking into consideration as i know a lot of retail traders do trade patterns so this could influence areas of liquidity and help predict future market movements.
It's likely we see a spike through 100k before price dumps to grab liquidity above the 100k mark. I'm fully expecting a volatile and highly manipulated market as it plays out over the next few days.
If price does dump i would think it will dump to the $72,000 level (-%30) as this is the next major level so again there will be a lot of liquidity in the form of buy orders from traders expecting to 'buy the dip'. It also makes sense for the market to pull back / dump this much as we hade a massive bull market / pump for 3 weeks and there is always relief after a big increase in price simply due to profits being taken so supply will increase.
Be wary, if BTC does dump so will 90& of alts.
#BTC☀ #BTC500K #MicroStrategyJoinsNasdaq100 #BTCReclaims101K
BTC has been consolidating around the $90 - 100k price now for 20 days or so, the weekly time frames are clearly showing price slumping as liquidity and volume slows down due to traders liquidating positions and capitalising at the 100k mark.
I do believe people are still buying BTC and there will be LOTS of fomo buyers at this price, but usually this is where the markets catch those who are to late to the party and they are the ones who are stung when price dumps.
There is some TA to back a potential dump, we have the slumping of price clearly shown by the candle formations, rejections of major key levels (100K) as well as some patterns like a rising wedge / rising consolidation however i'm not much of a pattern trader but it is worth taking into consideration as i know a lot of retail traders do trade patterns so this could influence areas of liquidity and help predict future market movements.
It's likely we see a spike through 100k before price dumps to grab liquidity above the 100k mark. I'm fully expecting a volatile and highly manipulated market as it plays out over the next few days.
If price does dump i would think it will dump to the $72,000 level (-%30) as this is the next major level so again there will be a lot of liquidity in the form of buy orders from traders expecting to 'buy the dip'. It also makes sense for the market to pull back / dump this much as we hade a massive bull market / pump for 3 weeks and there is always relief after a big increase in price simply due to profits being taken so supply will increase.
Be wary, if BTC does dump so will 90& of alts.
#BTC☀ #BTC500K #MicroStrategyJoinsNasdaq100 #BTCReclaims101K
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