BTC Personal Analysis in the Long Term

Chart displays the overall resistance and support levels accordingly to both price action and fibonacci. There are also established key buy and sell orders for proper distribution and accumulation.

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The price action for BTC is a potential follow-up continuation to the downside. The price dropped too much to the 41k level where it filled all the buy orders in that region to temporarily increase the value to 49k. In this case, we can assume that those buy orders have profits!

When people see that the market is already turning very red and they profited a huge percent of that, they will start to take profit early and wait for the accumulation phase at the point of bounce which is around the 40k region. One should play in a short position more than a long, but again everything is for sale in the long run !