Greetings to all readers of this great platform, especially to those who make life in crypto topics within the #LeoFinance community, in the present opportunity I want to talk a little about the behavior of BTC and how once again it surprises all of us, with the price action in the market, falling more than 8% in a single night, demonstrating once again the volatility of the crypto market.
 Screenshot taken at: Binance |
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As many already know, the BTC was some time only with a bullish behavior, one days ago it made an action which was considered as positive in the market, which was the price breakout over the 24k of the BTC value so there was a great possibility to generate a new stability over that zone, being this a great signal to get out of the bear market we have faced during the last 10 months in the crypto market.
We had 2 months in a constant market recovery, our eyes were already used to see that market behavior in green numbers, which we associate them to good news from the economy, until in the early morning of today Friday August 19, the market generated what is considered as a resounding fall of the market, after failing to maintain the 23k support in a stable way.
There are several readings that can be made on this behavior, the first to take into consideration and has already been seen in other opportunities within the behavior of BTC, is that we are facing a false break of the market, which is often done to remove many people from their positions, especially those who work with Stop Loss, by performing this action takes away the position and captures resources from investors, and then return to the area where it was.
The second possibility and which is less likely in my opinion, is that the market failed to attract enough investors in the area in which it was consolidating, which is why it lost the support to lower its price and seek new investments in the range of 19k to 22k where it was for a long time, the reality is a little difficult to know, but these are the possible scenarios that we are facing at the present time within the crypto market as far as BTC is concerned.
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Currently it’s hard to say what this move really is. One thing is for sure: at the price levels its buying zone for me.
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greetings @ chucho27
no doubt that these market movements are unexpected as many of their behaviors, the important thing is to wait for the best moments to capitalize.
thank you very much for sharing