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Hello friends, yesterday I warned that the price of bitcoin would be able to rise to 31k taking into account that the bears had enough patience to obtain extra profit and so it happened, the price rose twice reaching 31.2k but the day of today the bears woke up and rampaged through the bitcoin market taking money from the retailers.
The price managed to maintain for hours around 30.9k to 31.1k dollars but as expected the bears woke up and managed to sell at a reasonable price, obtaining profits when they bought at a low price, the market is an open book and a good rise comes a good drop as we can see in the coinmarketcap graph.
In the last hours, an amount of 9 trillion dollars has left the market where the sales volume exceeded the purchase volume of yesterday, for this reason you can see the big red candle that we see in the graph today despite the good news that is rumored the bears took advantage of the situation as I warned yesterday.
What can be expected after the fix? |
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If we do not go to logic, the price should go up again, but if we go to previous charts, the price should continue to drop until it reaches 29.5k, which would be the support point to then recover its value and go back up to 30k, but the trend sometimes varies and what is expected does not happen, at this point the alarms are activated and the best thing we can do is wait.
My recommendation is to wait for what may happen in the last few hours or go to the futures market and invest short since the price is expected to continue falling to 29.5k if the trend continues, although for the moment the trading volume is Outperformed yesterday's volume by $8 trillion, the bulls are waiting for the price to continue falling to make their move because at this point it is risky to buy.
In Conclusion |
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Be cautious when investing if you are afraid of losing money, do not invest and wait for the right moment to invest, the market is bearish so the price of bitcoin could continue to fall and the best option is the futures market where we can operate in short, if you want to invest in Spot I recommend that you wait for the second price drop to buy and thus make a profit.
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