BTCUSD (Bitcoin) - I Think It Still Has Downside Potential
Hi Traders. It's been awhile since I last updated on Bitcoin.
Bitcoin has dropped from 69k now down to 20k (17k was the recent low), the big question is, are we near the bottom yet?
I personally do not think so. The main reason is because I do not see huge portion of buyers giving up yet.
One simple concept you need to understand, is how to Bigger Players/ Smart Money are thinking.
In their world, due to their significant number of capital, they will always have the patience to hold and wait.
As they're interested in long-term holding, one of their goals is to make sure short-term holders/ retail holders give up.
So they can collect these bits of Bitcoin with a huge discount, as retail traders normally suffer financially during market turmoil, then lead to emotional decision.
Market Capitulation was one of the important concept I've discussed a month ago, I'll link it down below for your reference.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Bitcoin has dropped from 69k now down to 20k (17k was the recent low), the big question is, are we near the bottom yet?
I personally do not think so. The main reason is because I do not see huge portion of buyers giving up yet.
One simple concept you need to understand, is how to Bigger Players/ Smart Money are thinking.
In their world, due to their significant number of capital, they will always have the patience to hold and wait.
As they're interested in long-term holding, one of their goals is to make sure short-term holders/ retail holders give up.
So they can collect these bits of Bitcoin with a huge discount, as retail traders normally suffer financially during market turmoil, then lead to emotional decision.
Market Capitulation was one of the important concept I've discussed a month ago, I'll link it down below for your reference.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
