BTC: Corrections... still undecided
As trader sayings goes...
for every exaggeration, there is a correction
Sudden dump was seen yesterday as BTC plunge down to 27.8K
many have panicked and some high leverage traders was liquidated
by this exaggerated move of the market. this exaggeration was then corrected...
there are two types of correction that was observed.
1. Correction thru Price
- after the market exaggeratedly drops... and as the panic subsides
the price suddenly went upwards and corrects the exaggerated move just like a spring
(sudden pullback in price)
2. Correction thru Time
- the market is running in phase /trends, any exaggeration on this phase could be corrected.
but some takes time.. the market is just consolidating or just moving sideways before it continue
to its normal phase.. as what we also have seen after the exaggeration yesterday.. the market is just moving sideways.
as of this writing the market is still not decided where to go..
it is moving sideways.. correcting the exaggerations.
we can notice on our EMA slow .. a transition.. from Bullish (Green) to white(transition/undecided)
IF the EMA slow becomes green we will continue going up
but if the EMA slow becomes red... we can expect the price to continue to fall..
Key levels to break (bullish) = 32.9K
Key levels to break (bearish) = 30.0K
Really on a sideways market.. it can go at any direction
although more favorable on bullish scenario since the shadow and index is till at bullish zone
this is base on current market activity,
Do not trade blindly, always check your charts.
caveat.
for every exaggeration, there is a correction
Sudden dump was seen yesterday as BTC plunge down to 27.8K
many have panicked and some high leverage traders was liquidated
by this exaggerated move of the market. this exaggeration was then corrected...
there are two types of correction that was observed.
1. Correction thru Price
- after the market exaggeratedly drops... and as the panic subsides
the price suddenly went upwards and corrects the exaggerated move just like a spring
(sudden pullback in price)
2. Correction thru Time
- the market is running in phase /trends, any exaggeration on this phase could be corrected.
but some takes time.. the market is just consolidating or just moving sideways before it continue
to its normal phase.. as what we also have seen after the exaggeration yesterday.. the market is just moving sideways.
as of this writing the market is still not decided where to go..
it is moving sideways.. correcting the exaggerations.
we can notice on our EMA slow .. a transition.. from Bullish (Green) to white(transition/undecided)
IF the EMA slow becomes green we will continue going up
but if the EMA slow becomes red... we can expect the price to continue to fall..
Key levels to break (bullish) = 32.9K
Key levels to break (bearish) = 30.0K
Really on a sideways market.. it can go at any direction
although more favorable on bullish scenario since the shadow and index is till at bullish zone
this is base on current market activity,
Do not trade blindly, always check your charts.
caveat.
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