The cryptocurrency market is like any other stock market, a product of many speculations and short-term movements based on quick profits. The profile of investors causes financial markets to suffer many fluctuations and some to fall by the wayside, impatient to have everything in a very short time. There are still people investing who believe they can become millionaires overnight and turn $10 into $1 million in a week.
With the market movements that have been experienced in recent days, it is expected that the market could be very unpredictable both upwards and downwards. On one hand, it is a great option to gain liquidity by liquidating positions that were entered into previously at much lower prices. Another option is to ride the wave in which the market is currently immersed and not expect quick returns in the short term, but rather to arm oneself with patience and wait for medium-term movements to see if trends end up defining themselves upwards or downwards.
Increasing your position above expectations, we see a bullish breakout of #BTC at 75000. This movement marks the closed sell operations at 69000-69500. Possible new entry at 69500-69700 with an exit at 72500 to 73000. Fast rises involve trend stabilization corrections. It's an opinion. Good luck ✨ $BTC
Exchange burns are very important, they decrease demand even though the largest volume is in the hands of LUNC holders. If each LUNC holder burned 1/3 of their crypto, the rebound would be tremendous and immediate. The problem is wanting to reach $1 without losing a single crypto. If each user set aside greed and burned 1/3 of their capital, the increase would be imminent and immediate. We cannot expect large and significant increases if everyone does not participate. It's better to have $300,000 or $600,000 in hand than the utopian figure of $1,000,000 waiting greedily without supporting the burning process.
After correcting the previous rise, a rise recovering to 72600$BTC could be predicted, moving out of the previous position of 69000. After this recovery, another correction to 70000 can be expected. Invest responsibly ✨
Following the usual cycles, it is possible to expect a correction to 69000 before its new climb, be attentive to possible fluctuations. It is a forecast, not a certainty, be responsible with your investments ✨