Bitcoin manipulation and scenarios of further price movement ๐ฅ
Monday started very stormy for the crypto market.๐ฅ๐ฅโก๏ธ๐
And it showed that not only Elon Musk can manipulate the market. ๐ And while waiting for positive news, a random fake can create a storm in the desert. What happened today, when Mr. Bitcoin flew from 27.9k to 30k. The truth came out within 5 minutes, regarding BTC-ETF, and the price returned back, from where it started its flight "to heaven".
๐ฃWhat is my opinion: We have a lot of uncollected liquidity left at the bottom, which is needed, at a minimum, to break through 30K, as a maximum to go above 30+K. Liquidity is collected at the levels: 27.1K, 26.6K, 26K. That is where the price should come.
Given that today the price has returned to the ascending D1 Channel, several scenarios are possible:
๐ฒ1. The price will now move within the price channel, forming a Head and Shoulders, after which it will take away liquidity.
๐ฒ2. The price will break through the ascending channel immediately and, having tested it, will take away liquidity.
In any of the cases โผ๏ธ ALWAYS โผ๏ธ calculate your risks and operate your money management correctly. ๐งฐ
The market is always unpredictable. ๐ฅ
And very often, in addition to the news factor, other fundamental and statistical factors coincide, which greatly affect volatility.
BTC
#BinanceSquare #Binance #Bitcoin #BTC #etf
And it showed that not only Elon Musk can manipulate the market. ๐ And while waiting for positive news, a random fake can create a storm in the desert. What happened today, when Mr. Bitcoin flew from 27.9k to 30k. The truth came out within 5 minutes, regarding BTC-ETF, and the price returned back, from where it started its flight "to heaven".
๐ฃWhat is my opinion: We have a lot of uncollected liquidity left at the bottom, which is needed, at a minimum, to break through 30K, as a maximum to go above 30+K. Liquidity is collected at the levels: 27.1K, 26.6K, 26K. That is where the price should come.
Given that today the price has returned to the ascending D1 Channel, several scenarios are possible:
๐ฒ1. The price will now move within the price channel, forming a Head and Shoulders, after which it will take away liquidity.
๐ฒ2. The price will break through the ascending channel immediately and, having tested it, will take away liquidity.
In any of the cases โผ๏ธ ALWAYS โผ๏ธ calculate your risks and operate your money management correctly. ๐งฐ
The market is always unpredictable. ๐ฅ
And very often, in addition to the news factor, other fundamental and statistical factors coincide, which greatly affect volatility.
BTC
#BinanceSquare #Binance #Bitcoin #BTC #etf