Today the markets crashed drastically across the board.
Although I was expecting some sort of pullback on testing projected resistance,
I definitely did not expect a total insisted bleed, in this fashion.
Only thing I can tell you is, this is not a trader's move. Traders operate with criteria,
follow patters and trade against some sort of pivot point that they previously identified.
This is nothing of the sort! These types of move give vibe of somebody who has only one task: Markets down at all costs.
There's no point, even if you are a seller, to execute sells below bid price. Think about it, lets say you want to sell a bike,
I bet your goal would be to sell it at the highest price possible, right?
Well, today's seller clearly didn't care about his Bitcoins. So, what could it be?
We will never know for sure but, todays market felt like either a liquidation, when someone has
no other choice than to sell everything at whatever price, or just a framing, to align the crypto
market with the general narrative that everything is depreciating against the Almighty Dollar, bla bla bla.
At this point, anything can happen, Bitcoin has shown itself still very weak against the Global Agenda,
The only thing I wouldn't do is expecting too much delivery on its promise of being an uncorrelated asset,
because, at least so far, it clearly isn't.
Although I was expecting some sort of pullback on testing projected resistance,
I definitely did not expect a total insisted bleed, in this fashion.
Only thing I can tell you is, this is not a trader's move. Traders operate with criteria,
follow patters and trade against some sort of pivot point that they previously identified.
This is nothing of the sort! These types of move give vibe of somebody who has only one task: Markets down at all costs.
There's no point, even if you are a seller, to execute sells below bid price. Think about it, lets say you want to sell a bike,
I bet your goal would be to sell it at the highest price possible, right?
Well, today's seller clearly didn't care about his Bitcoins. So, what could it be?
We will never know for sure but, todays market felt like either a liquidation, when someone has
no other choice than to sell everything at whatever price, or just a framing, to align the crypto
market with the general narrative that everything is depreciating against the Almighty Dollar, bla bla bla.
At this point, anything can happen, Bitcoin has shown itself still very weak against the Global Agenda,
The only thing I wouldn't do is expecting too much delivery on its promise of being an uncorrelated asset,
because, at least so far, it clearly isn't.