🔔 Oversold in RSI, in my opinion, has reached a minimum, the channel was broken, as it usually happens, rather to absorb stops, in general I expect a retest of the upper border of the channel at 34600
🔔 Important resistance levels are also located at 33900 and 32000. We are also watching support at 31000, which Bitcoin will test shortly.
✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Whoever is behind these drops: the question is, if the goal was reached or if they need more drop.
Would Microstrategy (owns > 700k BTC @ 26k mixed price) start selling at a certain point?
Could it be that someone would like to liquidate Michael Saylor?
Could it be that it is just the worst shake-out we've ever seen?
TA no longer works recently ... 3D candles super-bullish, bullish news and mega-drops?
I think we need to be ready to expect the unexpected
azizelliott
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@ExPl0ReR, I was never bullish whenever I saw futures trading adoption by greatest banks. The financial market is made this way, retail traders should not be winning all the time, remember this. Otherwise, we all be home clicking buy and sell buttons and making money. What is that going to lead to? Global chaos, deflation etc. Try to focus on technical analysis because this is what institutionals look at firstly. Don't fill your mind with the conspiracies it will lead you to not making any decision at all. This is my personal view.
ExPl0ReR
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@Aziz.elliot, Thanks or your answer! Lately TA did not quite work for me ...
>> Don't fill your mind with the conspiracies it will lead you to not making any decision at all.
you have a point (or two) TNX!
azizelliott
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@ExPl0ReR, you are very welcome, mate. Good luck with your trades!