We have not seen such volume for months.
My take is that all the crypto projects are panic selling their holdings to fund their payroll and operations.
Market makers are selling off their holdings to raise capital to fund traditional markets.
5800ish region which present a very very strong support broke like a twig, this means there will be continuous selling pressure downwards
Like the previous Halving, BTC crashed badly and only recover after post halving when capitulation happen.
What now?
Great if you are holding cash right now, this presents a excellent opportunity to collect the dips:
I have bought some at 6,888 & 5,888 for my core holdings but it seems that price keep free falling.
Based on the charts, RSI is close to touching the weekly oversold region which is similar to what happen when BTC touch the bottom at 3k++, we can start collecting at dotted re lines and go heavy at green box area.
Remember, buy when there is blood in the market and sell when everyone is excited.
Most importantly only invest what you can lose, else you will probably panic sell when price dips further. Take at least 1 year time frame.
Stay safe people.
My take is that all the crypto projects are panic selling their holdings to fund their payroll and operations.
Market makers are selling off their holdings to raise capital to fund traditional markets.
5800ish region which present a very very strong support broke like a twig, this means there will be continuous selling pressure downwards
Like the previous Halving, BTC crashed badly and only recover after post halving when capitulation happen.
What now?
Great if you are holding cash right now, this presents a excellent opportunity to collect the dips:
I have bought some at 6,888 & 5,888 for my core holdings but it seems that price keep free falling.
Based on the charts, RSI is close to touching the weekly oversold region which is similar to what happen when BTC touch the bottom at 3k++, we can start collecting at dotted re lines and go heavy at green box area.
Remember, buy when there is blood in the market and sell when everyone is excited.
Most importantly only invest what you can lose, else you will probably panic sell when price dips further. Take at least 1 year time frame.
Stay safe people.