Why is Bitcoin growing? when is the correlation? BTC/USDT
After Bitcoin reached the round $ 40,000, you can see how the mood of the majority of ordinary investors is now changing in favor of Short.
Indeed, the growth is crazy and simply does not fit in the head - a vertical line up, after which a similar fall must certainly follow.
And this could be a trap! Bitcoin is growing not only because it is bought ...
There is such a concept in trading as Corner. It manifests itself as a wild unrestrained growth of an asset due to inexperienced bears closing their shorts.
🖤 When the price psychologically seems to be too high, the number of short positions from the crowd begins to grow in the market. That is, the whales immediately lend assets to inexperienced bears for Short, and then start buying Bitcoin, thereby forcing the bears to follow in the footsteps, and exiting in the footsteps is nothing more than the need to buy out Bitcoin.
As a result, the price rises due to the lack of assets in free sale to close short positions of inexperienced traders. And since the price rises, there are even more of those for whom psychologically it seems already too high - and history repeats itself ...
The same rule works here as with a double bottom, when on a downtrend the price seems to be psychologically very profitable and the crowd starts buying. You don't have to go far. Cryptocurrencies have been falling in the previous 3 years. The crowd bought with each new day, but then again and again received a new one as a gift 🕳. And so on until disappointment came and did not want to buy.
Do not forget that the capitalization of cryptocurrencies is very small compared to other assets with a capitalization of more than 10-100 trillion dollars.
I will not wang when there is a correction, and to what levels the price of bitcoin will reach.
I'm just trading.
Yesterday's drink of the long was unsuccessful and I suffered a loss of 750 points.
But we entered again after the breakdown of 37,500 and have now reached 2 targets with a total of 2,500 points.
Nobody will give you a 100% forecast of the bitcoin price - but I recommend that you now trade only from levels, add margin values, and consider all patterns (both uptrend and non-descending) Watch candlestick analysis - Observe the preferential trading system, set only trigger stop losses (stop market) and wait.
Indeed, the growth is crazy and simply does not fit in the head - a vertical line up, after which a similar fall must certainly follow.
And this could be a trap! Bitcoin is growing not only because it is bought ...
There is such a concept in trading as Corner. It manifests itself as a wild unrestrained growth of an asset due to inexperienced bears closing their shorts.
🖤 When the price psychologically seems to be too high, the number of short positions from the crowd begins to grow in the market. That is, the whales immediately lend assets to inexperienced bears for Short, and then start buying Bitcoin, thereby forcing the bears to follow in the footsteps, and exiting in the footsteps is nothing more than the need to buy out Bitcoin.
As a result, the price rises due to the lack of assets in free sale to close short positions of inexperienced traders. And since the price rises, there are even more of those for whom psychologically it seems already too high - and history repeats itself ...
The same rule works here as with a double bottom, when on a downtrend the price seems to be psychologically very profitable and the crowd starts buying. You don't have to go far. Cryptocurrencies have been falling in the previous 3 years. The crowd bought with each new day, but then again and again received a new one as a gift 🕳. And so on until disappointment came and did not want to buy.
Do not forget that the capitalization of cryptocurrencies is very small compared to other assets with a capitalization of more than 10-100 trillion dollars.
I will not wang when there is a correction, and to what levels the price of bitcoin will reach.
I'm just trading.
Yesterday's drink of the long was unsuccessful and I suffered a loss of 750 points.
But we entered again after the breakdown of 37,500 and have now reached 2 targets with a total of 2,500 points.
Nobody will give you a 100% forecast of the bitcoin price - but I recommend that you now trade only from levels, add margin values, and consider all patterns (both uptrend and non-descending) Watch candlestick analysis - Observe the preferential trading system, set only trigger stop losses (stop market) and wait.
The levels from which I bought