🛑 BTC UPDATE 🛑
🛑 Expect No Pump For A While 🛑
After taking time to observe the market for a while now, here is my conclusion.
1st - BTC is in a consolidation phase, the ETFs bought and won't sell, correction at this level has happened and the market is 'still' waiting for any huge move.
2nd - BTC current price movements are as a result of regular traders and normal market buying and selling.
3rd - BTC pump caused by bulk buying by the ETF firms shall take a while but shall definitely come back after a while.
Therefore, BTC should be expected to keep dancing between 50.8k to 52.8k with fake dumps and pumps from time to time.
So, is BTC bullish or bearish? BTC is still bullish in the long term and at consolidation for the short tem.
So trade within the mentioned consolidation range with less margin, liquidation prices of below 48k and avoid stop loss orders.
As usual , these are my own observations, analysis and opinions. Trade safely guys.
