Cause of Correction #BTCvsMarkets

The market does not move in a straight upward direction all the time, even during the peak of a bull run.

There must be

Profit-taking for people who entered trading, we call them short-term traders, who bought from around 74000, for example.

Or a retest of support areas or the moving average, meaning we might see a test of the area from 88000 to 89000 while still being in an upward trend.

Or this correction is to shake out the weak hands, who we will find with us all the time, afraid of any tremor in the market.

The goal of the correction is to restore balance before continuing the upward trend, and as long as the price is above the shaded area in the chart 👆 and the white line, which is the 200-day moving average, then things are good and we are still in an upward direction.