Quote from: gunungkembar on May 26, 2024, 11:57:26 PM

Quote from: South Park on May 26, 2024, 05:32:58 PM

Quote from: aylabadia05 on May 26, 2024, 03:46:47 PM

What happens next when the price reverses the decline? Is there a reason why that happens?

Relax. Not always focused on the various reasons behind every market event. When the time has come for an event, just stick to the theory of supply and demand.
If most market players are still vulnerable to issues that make them easily give up and make the decision to sell, that will influence the decline.
If in an annual period there is a decline as has occurred recently, it can still be considered a normal condition.

I agree, very often we see newbies and other inexperienced traders trying to find explanations for even the smallest movements on the market, but very often there is no other explanation than that is just the way the price is moving right now, only big movements can have some sort of definitive explanation, but even that is not completely true, so the most important thing for a trader is to concentrate on the price itself and stop worrying too much about why the price does what it does.

Not all cryptocurrency price movements in the market always have an explanation. Sometimes the price movements that occur can be caused by the influence of whales who are manipulating coin prices in the market. But it's not always like that because usually whales will make movements depending on good news or bad news, there are several large media that can influence prices on exchanges.

During every bull market, we will definitely be getting up to 20% -30% retracement in the market and it is very healthy for the market and whenever you see these pullbacks, then that is a gifted opportunity to position and reposition yourself in the market and not for panicking, After the price reached $70k, it was a due for the price to come back and gather another momentum for a further move to the upside and $66k-$67k was the good retracement zone for the price to get a bounce and that's why we saw the price dropped.