The market is only going down for the last few days. What is the reason for this ? Does the cryptomarket go down for no reason ?
If this down continues, investors are likely to lose their capital. Now some tokens are worth 4:1 since my investment time.
The Bitcoin market did not surprise me at all, as a trader of many years, I know there will never be an entire dominance of the bears or bulls in the market regardless of what the prevailing trend states. So a fake pattern, sideways, range, retracement/correction and indecisiveness will always be seen in the market, it now depends on how smart and prepared you are to recognise them and act accordingly.
The fall in Bitcoin since late last week, especially the one that happened yesterday was not without warning, you may check your trading chart for that, and if at all, price action was able to detect it on the 4H, 1D correctly. What else does any trader want? This is why I often advice us here to be the friend of our charts, and the more we learn how to use it, the more it will guide us correctly.
As we advance, today will determine a lot more, if today's candlesticks could close positively, then there is hope, this is especially true as Bitcoin has not breached the daily chart Fibo level of 23.6% at $65,450. A breach below the level will cause more harm to Bitcoin and might drag it towards $60,000 or below once again.