š Weakness in the market
Friends, due to today's unfavorable news related to the US economy, the market reacted with a significant correction and extinguished all yesterday's growth.
š Many were waiting for a break of $60,000 but the market went against the crowd (my scenario). We got a pullback to the downside and a retracement of the $56,000 level.
There is very little buyback at the current level, sellers are dominating. If this continues, we will lose this level and go lower.
Also, at the level of $54.000 - $53.000 there is a very large liquidity, if reached, traders will be liquidated for a total of $960 mln.
This is a big factor, which additionally pulls the price in its direction.
ā In general, it is clearly not worth considering longs for the time being. There is a high probability to see the continuation of correction. I wish you success š„
