I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC
Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is this isn't short term game.
the climb stops now
https://coinmarketcap.com/currencies/bitcoin/from increasing for several days? now it starts lowering again and yes this is something that we need to look at .
what is important now is that we have our funds on hold? and we are already having funds ready to buy more when dumps happens.
Despite getting rejected prior to $25K, the current correction isn't exactly bearish yet. Breaking below $22K horizontal support would likely bring prices down to $21K, but at least there is support to the downside unlike previous short-term rallies. Even at present price could find support from the 200 WMA where price is at now ($22.7K), after already breaking 6% above this level, showing it's not as strong resistance as it previously was. Overall, a sharp correction to support is a lot more positive than continually failing to break through resistance levels and drifting lower (as has been the case with previous short-term rallies).
None of the short-term price action has changed the longer-term bullish factors, such as a
Pi Cycle bottom signalling as well as Weekly RSI leaving oversold conditions. At the moment this is simply a case of
"nothing goes up in a straight line", and a correction after a 28% pump in recent days all being very healthy for price. While some people will be panicking, others will have their buy orders at relevant support levels, anticipating a continuation of the current uptrend.