So it was extremely risky to keep 40k further, taking into account that BTC had a growth starting from December 11 (28 days) by $ 24.000, at $850 per day.
What do we see on the chart? - Buyers failed to break through the important resistance of 42k and did not secure 40k. - Broke down the 47 RSI level on the 4h timeframe, which has been a strong support since the bull run ($ 17,500), see chart. - Hooked on the local bullish trend line at $ 34,000. - MA100 stopped massive sales at night, maybe temporarily.
It's too early to draw conclusions, but a lot is becoming clear: - The market cap went into a deep correction. - You need to wait for the close of the daily (D1) and look at the 4h candles. - It's still risky to pick up alts for long now. - Trade wisely and do not impose your expectations on the chart.
Market sentiment > Cryptoquant according to its data shows that peak sales of Bitcoin by miners have begun. Last week, a large whale closed $1.4 million long of air on Bitfinex. The alts are weak at the moment.