Traders like me has wondered the next move for bitcoin. Ever since the dump that happened few days ago, it's been almost stagnant at $63k.
What does your technical analyst say about it?
The truth is that nobody really knows where the market is heading for next. Yes, you have seen it reach over $60,000, and then it went back to around $50,000, and after sometimes it still came back to the $60,000 range and accomplished a new all time high price, and now we also can’t tell what is going to be the next move.
The market has gone down to around $56,000 now, and we don’t know whether it’s going to be at this rate for long or reverse and go back up and reach another all time high price which would be around $70,000. So, we just don’t know what we are really getting into, whether it’s going to be a bullish trend or a bearish market. But a long term holding would make sense at this point, if you can do that.
Everybody should really be having this kind of mindset on where they shouldnt really look after on where it would be heading next because everything could really be random on their movements which its really hard to predict on what would be the direction on next possible move of bitcoin thats why dont anticipate or having high hopes because it will really just frustrate you on.
Pump and Dumps are casual thing on this market thats why you should really take advantage out of these movements and make profits with it.Even though it wont be that simple but it could really be done.
As you do gain experience you would able to realize things on what are the things you should done according to the situation.