📊 BTC Analysis - 19 Nov.
Note how market sentiments can shift really fast.
The short-term (❗️) consolidation has significantly affected the overall mood. There is mostly gloom among traders. We see limited spot purchases, many are waiting for a downturn, and few believe in the continued bullish trend.
Markets often defy popular expectations. By signaling an imminent downturn and forcing crowd into short positions, MM is able to push prices upward again.
Meanwhile, the news background and technical picture remain extremely bullish - more large funds are entering the market, and the volume of major over-the-counter (OTC) transactions is increasing.
💡 I assume that the accumulation period may persist in the medium term, clearing out a maximum number of weak positions from the market before the rally continues.
