Right now BITCOIN is looking weak. All the previous growth f | Global CRYPTO News
Right now BITCOIN is looking weak. All the previous growth from 18500 to 22800 (23+%) was extinguished.
In anticipation before the meeting, BTC continued to decline, "crouching".
The BTC for the fifth time hit the support, strengthening it or breaking it through, we don't know exactly, but in fact it's now in the 18500-19200 block. It is obvious that when the price reaches the support level, but it is at the level of 18500-16500, the chances of its break-down are increasing and the probability of negative scenario is increasing.
This is called the moment of truth) And at such moments the uncertainty and fear reach their peak. As a matter of fact, now we see the "extreme fear" level in F&G index. (attached chart).
Technically, if the rise were 100 bp or more, the support would not hold and the market would hover in search of a new bottom. It could be 16000 or 14000 at the moment, or it could be gradual - it all depends on the liquidity.
Logically, the priority for me is to close the fall-out at least from the block 28000-30000, because in fact even from 48000 we fall without correction.
And the November congressional elections are coming up and the government has a stalemate situation - either continue to "save" the economy, but practically lose the elections, or give a little pause, win the elections and then finally humiliate everything). The fact is that all this will affect the market and it is from this data we are building a strategy, however, anyway, we'll see...
In general, no matter what situations we see in the news - with correct actions it will be a parade of possibilities (for even with strong long-squeeze the rebound will be tens of percent again), I personally have a positive attitude (but not relaxing either), because in crypto such periods are not for the first time.
Most are waiting for a fall. And it doesn't always happen the way most people expect). In fact - no one expects sharp exit above 30K as well .
