The market hints at a short upward movement before the correction.
The reasons are as follows:
- A return of the price to 90–91 means the drop has temporarily stopped.
- The funding is negative and most new positions are short
- The liquidity above the price is closer than that below
My personal prediction:
- Rise to liquidate short positions (the savages on the right)
- Area 92,500 – 93,500
- And then the possibility of a drop to around 90k – 88k
The price of #Bitcoin at 93,000 is a sensitive number and could be a turning point (downwards).
Why?
Because the rise to 93,000 is just (liquidity withdrawal). I explained this in detail in a video on YouTube. I recommend you watch the video. If you need the link to the video, write me a comment and I will give you the link if you can't find the video on the channel.
The important thing..
This number is not the beginning of an (upward trend), but merely a zone with massive liquidity (for short positions). When the price rises to this area, a large portion of these short positions (the savages on the right) gets wiped out. After Bitcoin absorbs this liquidity, it usually loses momentum, and here a (downward reversal) occurs.
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Do you want to share an opinion, and this is my opinion that I shared with you. In the end, there is only one thing you must determine:
Are you a trader or an investor?
- Trader: He hunts for these fluctuations, and the wise trader follows this principle (Are you profitable? Are you convinced of your profits? Sell!)
- Investor: Every drop is an opportunity to accumulate; price fluctuations don't matter to him because his goal is just to accumulate.
