What a run the last couple of month's, who followed me on here knows i've not been sharing any analyses for a long time. that's because I didn't feel the need to do it, we we're in full bull run and I was enjoying my gains. buy since 3 weeks I was cautious in the market and it was justified. Bitcoin had been flirting with the daily 50 MA for a while and so in the 55-58k range I sold a large part of my portfolio because I didn't trust it anymore. what turns out I was right on top and a 50% correction happened not even a few weeks after that.
Are we still in a bull market? I think technical analyses can't say much at the moment, the market is so volatile. Personally I think we are still in a bull market as the market sentiment is positive and the 'hype' of crypto is still going on.
Market manipulation? Yes, the markets are heavily manipulated right now. never before have so many leverage traders been shorting causing us to get an unseen dip on multiple altcoins pairs. This is in my opinion very dangerous and can cause violent influence on the market as we see in the last few days. also, this can cause a kind of catapult effect that the market can recover in a few days/weeks as well.
When in doubt, zoom out on the charts and look at the road we've made!
Guys, let me know what you think will happen in the future with crypto, i'm very curious to know your opinion and maybe have a discussion about it.
@nightsubcom, maybe, I think we are in a little bit in market indecision and not in a moment for good trades right now. But as soon we reclaim the 42k mark for a daily/weekly candle I think w'ere good to going up again
RkRafi
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most of traders panel are 60-80% down...if it is not recovered what can happen?
TheTradingTraveller
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@RkRafi, It can't keep crashing all the time, it needs to bounce at some moment :)