Hello guys, the cryptocurrency world have witnessed an rise in fortune in the last one month or so, turning a market cap of 2 trillion USD. Now suddenly we are witnessing red candles. What's going on? Is it a massive correction or are the dreaded bears coming upon us?
Actually it depends on time frame that you use, I mean when you use low time frame like 1 hour-4 hour time frame then it will give a sign for short term prediction but when you use 1 day until 1 month time frame then the signal that will you get for long term prediction.
But, when I predict and using high time frame (1 day-1 week) the sign that I get is the bull run market is still on the hand. There is no sign for the bearish market come, indeed the previous weekly candle is formed as a red candle but for this week candle will be formed as a green candle that will indicate a bull market is back.