I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?
in trading people use support and resistance but others tend to use order blocks which are either bullish or bearish in nature and seeing how price has been behaving of late its safe to say that price has moved into the bullish order block which means we should be seeing a pullish to the upside away from the $50000 support zone and maybe we should see 70k come next near.
Everything can happen. We are currently having a good market movement and if this pullover will push and gain strong support, we might be seeing $55k before this year may end. Though nothing is certain the market is influenced by both weak and strong holders, if we see more holders the price may continue to go up, but if there are more sell pressure and less buy demands.
The market might struggle in the beginning of 2022, but being positive will help you to keep buying
while you still have good spare to invest future still showing great with this progressive industry.