2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.
Thinking like this, suddenly the market was running down gradually. At other times, the market usually goes down very slowly, but during this period, the market started to go down very quickly and gradually, on 23-04-24 at 22:00, the price of Bitcoin reached $26,942.
After reaching $26,942, the Bitcoin market started to turn positive again. And by today very quickly the Bitcoin market reached $30,036.
Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?
I would say don't create a macro outlook for the coming week or months using intraday analysis. It won't make sense. First is the data, you don't have enough data to say where the price is likely to go the next quarter by using the 4-Hour chart. That's useless. You're stressing out the irrelevant information.
If you are going to create an analysis for the coming months or probably for the next high, instead use Higher time frame starting from daily and higher. Correlate it with Intermarket analysis, news, interest rates, bitcoin halving.
Bitcoin is highly volatile enough to make our funds difficult to preserve. Until you know what you're doing is right, then you are good to go. Invest only what you are prepared to lose.