BTC market once again doing the unexpected.
Greetings to all the readers of this great platform, especially to the readers of the great community of #ProjectHOPE, in the present opportunity I want to share some information that is related to the price of BTC, as it once again makes an unexpected action that surprises everyone in the market, with which many people end up selling even if they are at a loss, to avoid losing more, thinking the worst of the current market.
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The market has many days presenting great indecision about the path it wants to take, currently gives no signs of going up, down or continue with its accumulation zone, a situation that has puzzled many people who are part of the blockchain, and small investors who are currently afraid of losing resources by the situation presented by the market, which is a bit worrying.
2 days ago the market gave a sign of recovery, moving away from that critical area where its support was at 37k as far as the price of BTC in the market is concerned, reaching almost 40k as far as its price is concerned, being a positive sign that continued this lateralized channel to accumulate price in the market, a situation that yesterday was quite compromised due to the movements of BTC.
Yesterday the BTC surprised the entire market, in less than 4 hours it ended up dropping in price from almost 40k to 36k being a big red candle that puts the market in red numbers, which has generated even more uncertainty in investors, since at the time that the market was expected to begin its recovery just happens this situation and falls below the market support.
Now we do not know what to expect from the market, if it will recover or go down a little more, since it lost the market support, now we must wait for the market response, if it will look for the next support or the market will have enough strength to recover its price, and maintain the accumulation zone, my recommendation is to remain calm while the market makes some corresponding action to know what position we should take.
These movement are predicted that is why it is called market. Every body loves to be on profit but that can't happen all the time, it is either we are making gains or loosing out. Such is normal with life. As for the market I will be seating on fence for the now.
The market tends to do unexpected things, this with the purpose of destabilizing small investors, who have weak hands and decide to sell all their assets, even if they are at a loss and the market capitalizes.
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Hi friend
BTC price is dropping these days and I think this is not a matter of concern i have seen many similar instances and this is certainly not the last. I am sure it will come back and its just a matter of time.
Hello @reeta0119.
I really share your opinion, the market really tends to do these things, but as the days go by the market tends to recover, it really is just a matter of time before we see how it recovers.
The best we can do for now is to wait and keep calm the current market situation seems pretty stormy although this is not the first time we have seen such move in the market there's no call for alarm.
A lot of negative news have been trending lately which is causing panic in the market as well thanks for sharing.
as someone who panic-sold in 2017/2018 I have no intention of repeating that mistake. :)
Well, I saw this one coming, I wrote an article about it a few day ago. I'm still bullish on long term anyways, but this is not time to expect good news.
Good
Hello friend, as always the cryptocurrency market behaving autonomously, any movement the cryptocurrency market and especially bitcoin takes would not surprise me at all.
Greetings and thanks for educating us on these topics in the world of cryptocurrencies.
Hi @carlos84.
It is a great reality that the market currently is autonomous and always performs the actions as he wants, leaving out many small investors who end up losing resources for fear of what happens.