Downtrend for BTC

im.King said:
Multiple Rejection means the Support is More likely to Break soon ! & We can see lower Area when BTC can stand out. Lets wait for weekend over then we will see where its Stand in Financial Bussiness days
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onlinemarketer12 said:
What do you mean by financial business days ?
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well that's an easy one.

Many traders stay out of markets over weekend (because they're not nerds like all of us) and therefore
the liquidity and order books get generally thinner over the weekend.

A lower liquidity and thinner order books allow a certain trade (buy or sell) of a certain size move the prices more,
compared to higher liquidity and stronger filled order books. That is generally the reason why many markets that are open over weekends
can get higher volatility on Saturday/Sunday. After weekends, the liquidity gets stronger again and the order books more filled, and this
gives higher resistance. Be aware that this is only one side of the coin, over weekends normally there is also a lower trade volume,
and if this reduction of trade volume is more or less proportional to the reduction in liquidity, then the volatility is not increased much.

Anyway a bigger trade on a weekend that has a substantial size in volume will move the prices more.
 
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Powerful traders should earn both on the ups and downs)
 
hoax.tech said:
Powerful traders should earn both on the ups and downs)
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Market timing is not an easy thing to do. Especially the downturns come fast and violent.

Many traders therefore only focus on the price levels and use them as triggers.

But there are some "secrets" about Market timing:
For example: At the end of every calendar year, many assets tend to test the price levels they had at the end of the last calendar year.

For BTC this would mean that on the 31.December 2021 it could retest the price level it had on the 31.December 2020: 29'000.-

In my eyes, a good entry tactic would be to go in with 1/2 of your investment cash at 42'000.-,
and save the other half of your investment cash to go in at 32'000.- if it should hit down that hard.

Still 3.5 weeks to go until we will find out :D
 
Machairodont said:
Market timing is not an easy thing to do. Especially the downturns come fast and violent.

Many traders therefore only focus on the price levels and use them as triggers.

But there are some "secrets" about Market timing:
For example: At the end of every calendar year, many assets tend to test the price levels they had at the end of the last calendar year.

For BTC this would mean that on the 31.December 2021 it could retest the price level it had on the 31.December 2020: 29'000.-

In my eyes, a good entry tactic would be to go in with 1/2 of your investment cash at 42'000.-,
and save the other half of your investment cash to go in at 32'000.- if it should hit down that hard.

Still 3.5 weeks to go until we will find out :D
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The stock market also affects the bitcoin exchange rate. If you compare the beginning of the fall of bitcoin with the beginning of the fall of snp500, you can see that it happened at the same time after the news about the new covid-19 strain)
 
Machairodont said:
...
In my eyes, a good entry tactic would be to go in with 1/2 of your investment cash at 42'000.-,
and save the other half of your investment cash to go in at 32'000.- if it should hit down that hard.
...
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downfall of BTC continues... soon the 42k resistance level will be reached (as I already have told in an earlier thread).

As I stated 42k is a good entry opportunity. Could be of course that it could drop further down to 32k what would be then another good entry point...
 
Machairodont said:
downfall of BTC continues... soon the 42k resistance level will be reached (as I already have told in an earlier thread).

As I stated 42k is a good entry opportunity. Could be of course that it could drop further down to 32k what would be then another good entry point...
Click to expand...
I agree. $42k is probably the bottom and the best entry.
I wish I had more fiat to buy this dip.
 
People are claiming losses/gains and diversifying into other cryptos. It's been happening for years.

Not to say, "Bitcoin is dead", but there are more "lively" cryptos to get into now. And it's just starting to heat up.

last year was an epic bull run. Hard to say where 2022 goes, could see a thinning of the market followed by a year end consolidation as people take gains to build core poisitions.
 
It looks like BTC will be retesting the strong support line around 30k within the next few days (max. 1-2 weeks):

1643098422569.png

It is that 30k level that hold strong against tests for several times already in the past.
It is also the 30k level that was the starting price in January 2021 (blue line).

It's time to get ready to enter around 32k now. Be aware that if resistance fails at 30k, the next one will only come around 16k.

Hold back some cash (don't go in at 32k with all your money) to be ready in case it would drop down to 16k.

As usual, trade at your own risk :)

Cheers Mach
 
January was even more bad for crypto and btc. We saw very huge downtrend again.
 
HODLers are golders. If you still mantain a good portion of your assets in BTC you're gonna probably see it jump up in price again after a month or so.
 
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