The Weakness of Bitcoin
As Bitcoin continued to rise, there was some point where it was due for a massive liquidity Grab. Couple of days ago, it just did that. Bitcoin dropped over 18%. As of now, Bitcoin is currently consolidating. Base on my TA, I am waiting for the Break down and a re-test for confirmation. Below 30k, there is a lot of Liquidity and I would not be surprise if there is a giant wick that liquidates the area.
For now, there is no trade because we are in a ranging area, If you know how to trade consolidation, go for it,
Also, keep in mind Altcoins has been exploding even though bitcoin has been falling, this indicates that the top is almost in.
Good luck to all.
For now, there is no trade because we are in a ranging area, If you know how to trade consolidation, go for it,
Also, keep in mind Altcoins has been exploding even though bitcoin has been falling, this indicates that the top is almost in.
Good luck to all.
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