Bitcoin huge dump, what to look for?
As you can see on the Chart there are 2 key levels:
200 EMA (Important moving average)
and 20 / 21 EMA (Bull market indicator)
On the daily we wanna see a close above the 200 EMA in the very short term, but on the weekly we HAVE to close above the 21/20 EMA.
What caused this dump? A combination of things.
A well coordinated dump with alot of FUD (Fear uncertainty doubt) and the avarage retail investors panic selling with weak hands.
Also a large amount of liquidations as we NEVER seen before.
So you might be thinking: Are we still in a bull market? Should we sell? Hodl?
The answer to that question is fundamentally Bitcoin hasn't lossed value although the dollar value decreased. The value of the asset is still very high.
Personally there is no need to panic even though some of us portfolio's are down massive.
So are you in it for the long run and for the believe in crypto? Or you just here to make quick money?
200 EMA (Important moving average)
and 20 / 21 EMA (Bull market indicator)
On the daily we wanna see a close above the 200 EMA in the very short term, but on the weekly we HAVE to close above the 21/20 EMA.
What caused this dump? A combination of things.
A well coordinated dump with alot of FUD (Fear uncertainty doubt) and the avarage retail investors panic selling with weak hands.
Also a large amount of liquidations as we NEVER seen before.
So you might be thinking: Are we still in a bull market? Should we sell? Hodl?
The answer to that question is fundamentally Bitcoin hasn't lossed value although the dollar value decreased. The value of the asset is still very high.
Personally there is no need to panic even though some of us portfolio's are down massive.
So are you in it for the long run and for the believe in crypto? Or you just here to make quick money?
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