This week started with a shock for BTC bulls as many expected the price to break 118k this week, but the week started with a huge dump that I didn't even expect to happen on Monday morning. Last week news wasn't so good for BTC, and it waited for days for it to take effect on the market.
From the look of things, do you think we will get a new ATH or price will head below 90k
I don't really think 90k is possible now. Yes, we did have a minor dump but that is pretty normal when it comes to bitcoins as they are supposed to be volatile. We can't always expect a upwards trend. The reason behind this dump will be unexpected price swings, news and liquidations. This happens most of the times as bitcoins do react to these fundamentals. Volatility is much important when it comes to bitcoins and that's pretty much normal.
Mostly scalpers and swing traders were highly impacted by this dump but holders will not care that much as this is just for a meanwhile. Bitcoins will eventually pump back showing great profits on their portfolios. Traders should focus on managing risks during these turbulent weeks. As a bitcoin trader, I'll always be prepared for situations. Macro and crypto specific events this week have triggered this volatility and you can still make profits from this dump if you know exactly where to enter and exit.