BTCUSD 4 Hour Chart
BTC has been trading in a rectangle pattern before breakdown without "hand break" to $35,111.00. BTC have dipped for 19.32% over 1 day 15 hours 30 minutes & 49.11% from the all time high $69,000.00. Personally I don't think the dump is over yet and this is the weekend. 21st January 2022 is the Black Friday of the month for financial market. It is not only the crypto market dump, the traditional market dumping as well. At the high time frame chart, head & shoulder pattern completed when BTC is trading at the $41,000 - $42,000 range.
Current demand is at $34,000.00, lower time frame keep making lower low. Will 34K breakdown?
The past 24 hours, 1 billion liquidated
The past 24 hours - 48 hours have been extremely painful for many many peoples, total traders being liquidated are 354,144. Right now the entire market sentiment is FEAR FEAR FEAR everywhere. 24H rekt $1.15B. What caused the dump? I have no idea. Is the market appear to be in downtrend? Yeah it did based on the chart. Not sure how long does the downtrend will last because there's no sign of reversal.
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It hurts, it only hurts, but for a long term investor like me it's ok, it's just another short break!
Opportunity to DCA !!
Oh, 😲 wow. I think 2022 will be a very interesting year. Many cryptos from the Top-20 will be replaced.
It is going to be very interesting :)