BTC : Is This End of Bull Season?
Hello Dear Traders,
(Crypto Market Cap : 493 Billion , BTC Dominance:62.9%)
Today We all Crypto traders witnessed heavy dump frm 19500 area to 16000 area, BTC was down 17%.
this crash created panic situation all over the market,due to this alt coins dumped more than 15-20%
this is old pattern of btc whenever everyone is too much bullish, btc always gives surprise. likewise today also we seen tht same pattern.
before btc halving entire crypto community was extremely bullish bcoz after halving supply will be reduced and btc price will sky rocket
before march 2020 in leverage trading more than 70% people were LONG on btc... to liquidate high leveraged positions btc dumped to 3500 area
then again everyone went extreme bullish to extreme bearish.
Is this End of Bitcoin Bull Season ? Answer is NO, if we observe 2017 bull run of btc we have seen many hard dumps like today happened
correction in price is essential part of market cycle , to get more steam to rally upside market needs regular healthy corrections like today.
if u see weekly chart of 2017 rally there was 7 heavy dumps of more 30%. so we dont need to get panic and turn our heads to different direction quickly.
Today there was too much FUD of Coinbase and okex exchanges , Okex exchange resumed btc withdrawals after 5 weeks of suspension.
But yesterday we posted a idea of reversal from 19400 , things worked as per plan.
in chart i have marked Demand zone on daily basis price touched this demand zone and showing recovery. i m expecting next 1-2 days btc will be sideways trading between 16300-17000$
Whenever we spot a good buying area we will immediately post a idea.
Thanks.
(Crypto Market Cap : 493 Billion , BTC Dominance:62.9%)
Today We all Crypto traders witnessed heavy dump frm 19500 area to 16000 area, BTC was down 17%.
this crash created panic situation all over the market,due to this alt coins dumped more than 15-20%
this is old pattern of btc whenever everyone is too much bullish, btc always gives surprise. likewise today also we seen tht same pattern.
before btc halving entire crypto community was extremely bullish bcoz after halving supply will be reduced and btc price will sky rocket
before march 2020 in leverage trading more than 70% people were LONG on btc... to liquidate high leveraged positions btc dumped to 3500 area
then again everyone went extreme bullish to extreme bearish.
Is this End of Bitcoin Bull Season ? Answer is NO, if we observe 2017 bull run of btc we have seen many hard dumps like today happened
correction in price is essential part of market cycle , to get more steam to rally upside market needs regular healthy corrections like today.
if u see weekly chart of 2017 rally there was 7 heavy dumps of more 30%. so we dont need to get panic and turn our heads to different direction quickly.
Today there was too much FUD of Coinbase and okex exchanges , Okex exchange resumed btc withdrawals after 5 weeks of suspension.
But yesterday we posted a idea of reversal from 19400 , things worked as per plan.
in chart i have marked Demand zone on daily basis price touched this demand zone and showing recovery. i m expecting next 1-2 days btc will be sideways trading between 16300-17000$
Whenever we spot a good buying area we will immediately post a idea.
Thanks.
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