After the postponement of Bitcoin tradable funds, we saw the market fall to the $34,800 area, which is currently correcting its previous wave. Apart from the fact that this news had a negative impact on the market and some people started giving bearish strategy ideas, but the mood of the majority of people is positive for the growth of Bitcoin. As I explained in one of the previous analysis, the reason for the fall of Bitcoin if it happens, I decided to do another bearish analysis, which I hope will fail like last time. If Bitcoin can recover the level of $38,000, there is a possibility of growth and failure of the analysis. But if Bitcoin loses the level of $36,000 and the weekly candle stabilizes below this price in 2 days and 7 hours, we will see the nature of the market change to a bearish one.
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If tomorrow, dated 11/21/2023, GLOBAL X company's trading fund is delayed by the Securities Exchange Commission. There is a possibility that this model will be completed in the short term.
Disterbution happens at the top of the major cycle not here after 2 years of bearish market at the begining of new bulish cycle
MyNameIsMilad
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@Sfarseian, Thank you for your opinion. Apart from this point of view, this analysis is based on a 1-hour time frame, and more importantly, because the market moves based on floating exchange rates, it is important to remember that there will be distribution, redistribution, accumulation and re-accumulation in each time frame. This is why rally, base and drop are formed. I put this analysis to prevent the shock of the market collapse.