Some people panic and will always panic in every market correction because they only hodl and think that the market will always keep going up, when you trade you don't care if market goes up or down because you can make profits in both ways, you just have to understand the market structure to anticipate good RR trades with proper risk management.
Back to the Bitcoin update, in the past 2 days we have seen how the price action was forming lower highs which indicates a bearish momentum, breaking below 53300 just confirmed where we were heading to (48000) where many traders have bought more BTC making it bounce to 50k.
What is next? a new impulsive move is not likely to happen in near future, we might see BTC ranging a few days/weeks accumulating liquidity before taking off!
Back to the Bitcoin update, in the past 2 days we have seen how the price action was forming lower highs which indicates a bearish momentum, breaking below 53300 just confirmed where we were heading to (48000) where many traders have bought more BTC making it bounce to 50k.
What is next? a new impulsive move is not likely to happen in near future, we might see BTC ranging a few days/weeks accumulating liquidity before taking off!