Are you talking about the pullback from $65k down to $29k? That didn't feel small to me. If you're talking about the current one, then I don't think it will be too big or too long. Maybe retest $55k, maybe only $59k. Or maybe it just decides it's done retesting and runs straight to $80k. In my mind it all depends on the long/short positions. If there is a ton of long leverage coming in, it will spike lower before running. If the shorts are jumping in right now, it probably races higher. Whichever way makes the exchanges the most money is the direction it will go. The LAST thing they're going to allow it to do is stack a large amount of long-leveraged buyers and then have it run straight up. Every time that happens you'll see a sharp pullback.
It may be a somewhat cynical outlook, but it's right.
Posted Using LeoFinance Beta
I was referring to the current pullback. I think BTC reached USD 70K and right now it's over USD 63K. That's 10%, practically nothing in crypto terms.
Posted Using LeoFinance Beta