ביטקויןמעודכן Bitcoin: there is a problem in the market.
Hi,
The Bitcoin market is currently facing an important problem: there is an important lack of liquidity.
Since some weeks, investors sold their main alts and sold their minor alts and shitcoins, and are apparently buying Bitcoin after they sold their alts.
Some of the ex important alts (like Nano, Verge, Neo, Omisego) were sold a lot and formed new lows, to the benefits of Bitcoin.
You 've got it, the market is unconsciously trying to save the whole Bitcoin market by selling the unnecessary coins to buy Bitcoin with the sell money, preventing Bitcoin to crash so far.
We are not witnessing alts raising as much as Bitcoin is raising, and we are even witnessing some alts beeing extremely dumped to the benefits of Bitcoin (some alts lost 90%-95% of their value since they topped some months ago).
Now you are guessing that if we imagine Bitcoin going lower, which is of course a possibility as the trend is still down, then some alts could now play in the playground of the -99%, -99.50%, -99.80% crash coins category.
And the other question is of course : did Bitcoin bottomed at 5.800$?
If yes, then we witnessed an important correction before a possible incoming very important upmove.
If no, then we will probably witness a real Bitcoin crash. Imo, Bitcoin did not even crash yet as it could, it is just so far staying strong and correcting from the parabolic upmove to the 20.000$.
The market is appearing to lack liquidities to be injected.
The average investor lost a lot of money, and might not have money anymore to inject (or simply considers the market too risky to reinject now).
Important funds lost hundred of millions of dollars during this downtrend (I am thinking about Pantera Capital, the crypto fund of Mr. Novogratz, etc...)
Where will the money come from to start a new bullish trend? It is absolutely needed to save this market.
This market is still in danger.
Right now, Bitcoin is trying to form another local rounded bottom, to create a new leg up.
Will it make it? I have no idea.
Have a great week end.
The Bitcoin market is currently facing an important problem: there is an important lack of liquidity.
Since some weeks, investors sold their main alts and sold their minor alts and shitcoins, and are apparently buying Bitcoin after they sold their alts.
Some of the ex important alts (like Nano, Verge, Neo, Omisego) were sold a lot and formed new lows, to the benefits of Bitcoin.
You 've got it, the market is unconsciously trying to save the whole Bitcoin market by selling the unnecessary coins to buy Bitcoin with the sell money, preventing Bitcoin to crash so far.
We are not witnessing alts raising as much as Bitcoin is raising, and we are even witnessing some alts beeing extremely dumped to the benefits of Bitcoin (some alts lost 90%-95% of their value since they topped some months ago).
Now you are guessing that if we imagine Bitcoin going lower, which is of course a possibility as the trend is still down, then some alts could now play in the playground of the -99%, -99.50%, -99.80% crash coins category.
And the other question is of course : did Bitcoin bottomed at 5.800$?
If yes, then we witnessed an important correction before a possible incoming very important upmove.
If no, then we will probably witness a real Bitcoin crash. Imo, Bitcoin did not even crash yet as it could, it is just so far staying strong and correcting from the parabolic upmove to the 20.000$.
The market is appearing to lack liquidities to be injected.
The average investor lost a lot of money, and might not have money anymore to inject (or simply considers the market too risky to reinject now).
Important funds lost hundred of millions of dollars during this downtrend (I am thinking about Pantera Capital, the crypto fund of Mr. Novogratz, etc...)
Where will the money come from to start a new bullish trend? It is absolutely needed to save this market.
This market is still in danger.
Right now, Bitcoin is trying to form another local rounded bottom, to create a new leg up.
Will it make it? I have no idea.
Have a great week end.
הערה
Crucial fibo level is at around 6.800$.If Btc closes below it without creating a false breakout, then the typical long and slow decline is what we have to expect at 90%.
הערה
The old Fibonacci lines are still actual and correct (black lines), they did not change are are still valid, they are acting as a resistance (and will highly possibly act as a support) :You will find the correct fibonacci lines if you scroll your mouse on them in this previous chart :
This is all you would need if the market drops further. If it doesn't drop further, these levels would of course be irrelevant.
הערה
This is a very important move.
Bitcoin tested the 20 Smma (pink), was rejected hitting it.
This means Bitcoin does not want to be in a bull run at the moment (under the 200 Smma)
But : the candlestick is forming an inverted hammer, which could start a bullish upmove
הערה
*200 Smma* not 20הערה
I know this is "linked" with a delayed ETF .
If we purely translate this market move, this means "we don't want a bull market at the moment".
The pink 200 Smma.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.