Introduction
The price action Bitcoin experienced hours before the traditional Christmas celebration above $50,000 was a nice trigger for bullish traders (myself included) to regain optimism.
The bullish sentiment lasted no more than 48 hours as the market lost strength in the bullish direction and executed a further pullback to the $49,000 area, an element that put the optimistic mood into caution.
According to several statements from metric analysis experts, this further pullback to the $49,000 area projects that a "new player" is beginning to turn $50,000 into resistance after a brief holiday cheer for Bitcoin bulls.
A favorable element for traders is that despite the pullback experienced by Bitcoin, most of the large-cap alternative cryptocurrencies remained relatively balanced, i.e. in a sort of flat zone.
Although the performance of the alternative cryptocurrencies generates a certain sense of calm, it is not a fact to trust, so I believe that we should execute operations with caution and wait for the market to define a direction and only then decide to trade it with confidence.
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image background: Source: es-us.noticias
Greetings @lupafilotaxia 💕❤️
There's really no doubt that this is the world of cryptocurrency and Bitcoin is also known for it's erratic (rising and falling) nature. I think only traders who are new to the game will have that sense of panicking mindset unlike the experienced traders who already understands how cryptocurrency works.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕
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hello @lupafilotaxia,
this was a great year for market bulls, but since nothing lasts forever, the possibility of a market drop almost as spectacular as the rise will always be latent. i think it's a good time to take profits and wait for the market to define where it's going.
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First of all its crypto market open your eyes dear you need to keep an open eyes in the maket as this is very high risk market.
We need to keep our investment safe by safeguarding and keeping a stop loss for Every trade we do this is the best strategy.
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Greetings @lupafilotaxia no doubt this market move based on sentiment, many of us think that now if to the 100k and it seems that we entered into a kind of deception to end up liquidating the bullish over leveraged, we will continue to analyze and expected that happens.
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Hello friend @lupafilotaxia, certainly we had a feeling of recovery that lasted a short time, although currently the price of BTC already exceeded $ 50,000, and if it gives the feeling that this level will behave as a resistance, it is better to wait calmly for the market to break in some direction and define a trade then.
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Greetings friend @lupafilotaxia, the BTC market is still in a really dangerous zone for all investors, it is not easy to determine what could be the market movement in these remaining days of the year, to avoid that tranquility is lost is better to wait for market confirmations and then make decisions.
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@tipu curate
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Upvoted 👌 (Mana: 2/5) Get profit votes with @tipU :)
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very good
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These are the times when taking desperate measures could damage investors' personal finances; confidence is a double-edged sword.
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