🚨 Market Overview
Source pvp.trade
Source CoinTrendzBot
Source CoinTrendzBot
The week kicks off with a panicked sentiment in the crypto market. It's not the first time we've seen this kind of collective reaction, and it certainly won't be the last. The fear and greed index is reflecting negative sentiment, indicating that many traders are going into mass selling mode. Meanwhile, more patient buyers are waiting for a better opportunity to enter. In these types of moments, psychology plays a key role, and many times, when panic grips the market, that's when the best opportunities arise.
Looking at the Bitcoin chart, there are key levels worth watching. Currently, an interesting buy zone is around $94,500, which could act as a strong support. This level is important because it could mark a turning point where the price rebounds and starts to regain strength. However, the $100,000 resistance remains a major hurdle. Every time the price approaches this area, it faces difficulties to break clearly. This gives us an idea of the battle being waged between buyers and sellers.
The cryptocurrency market is a reflection of collective emotion. Extreme fear generates irrational selling, while extreme greed leads to impulsive buying. At times like this, I try to keep a cool head and focus on the fundamentals. Has anything really changed in Bitcoin or blockchain technology? No. Have institutional players changed their stance drastically? Neither. What we are seeing is largely a short-term emotional reaction.
I have learned that, in these types of situations, the best strategy is to watch and not get caught up in the noise. If the market continues to fall and reaches $94,500, it may be a good point to accumulate spot positions or consider a longer-term entry. It is not a matter of guessing the exact bottom, but rather making decisions based on key support levels and assessing risk on each trade.
Another important thing is market liquidity. When sentiment is so negative, liquidity tends to decrease, which can generate sharp moves in either direction. It is common to see highly volatile candles when looking for these reversal points. While patience is key, you don't have to wait forever either; the market often turns when we least expect it.
Personally, at this time I prefer to accumulate in strategic areas and not panic. If $94,500 holds, we could see a good rebound in the next few days. If that support breaks hard, then we need to reevaluate and look for the next level of interest. The important thing is to have a plan and not act based on emotions.
Now, how do you see it, do you think we are close to an important low or is there still more downside before a recovery? Let me know your opinion in the comments.
Want to know more?
Every day I publish my analysis and my detailed opinion of the crypto ecosystem. If you want to dig deeper into this topic, let me know! Leave your reactions, comments or share your own thoughts on what's going on.
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Hello 👋 my name is Jelvys Triana and I am an Industrial Engineer in Cuba, cu. I invite you to follow me. When I'm not watching crypto news or trading, I'm studying programming and web application development with javascript, python and MySql.
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