Hi there, BTC today had a sharply decline and unexpectedly from 49k to 47k zone, BTC is previously: (i) Stock RSI in overbought, (ii) Low volume, so the key reasons for such market condition got no Fuds & special events usually as:
- Some TP from previous investors/institutions/ETF close out;
- Panic sell after a sharply decline altogether with above TP;
--> Market dip hardly :)
Overall, BTC had a hard correction, not a slightly and make a broken momentum locally but again BTC is still slowly increasing in its divergent structure. A correction (slightly or hard) is always happened on either way up/down, this is a healthy signal which any trader should know about it.
So, for spot, I still keep adding more some good price alts with small part of capital during this time for long hold, Future is not recommended until clearly confirmation uptrend.
Thats all for today, nice season bro.
- Some TP from previous investors/institutions/ETF close out;
- Panic sell after a sharply decline altogether with above TP;
--> Market dip hardly :)
Overall, BTC had a hard correction, not a slightly and make a broken momentum locally but again BTC is still slowly increasing in its divergent structure. A correction (slightly or hard) is always happened on either way up/down, this is a healthy signal which any trader should know about it.
So, for spot, I still keep adding more some good price alts with small part of capital during this time for long hold, Future is not recommended until clearly confirmation uptrend.
Thats all for today, nice season bro.