Last night when BTC had a phase of forcing investors to hold their positions during the recent period, they had to continue to release their holdings. And looking at the chart, we can see during the second leg pulling phase last night, the volume was gradually decreasing, which indicates two things: The supply is gradually decreasing or the demand is gradually decreasing in the market.
Scenario number 1: When demand gradually decreases, looking back at the scenario on January 13, 2024, there were also two strong leg pull sessions with decreasing volume, then the organization completely eliminated investors with a strong downward push from the leg pull area, creating both a sense of panic and frustration over two weeks before starting a new uptrend cycle. Therefore, at the current stage, if today BTC continues to create a LPS like in the 97.4k area without any demand coming in, this scenario is highly likely to occur, and we may have to wait at least until Christmas to see a return to an uptrend...
That being said, crypto often goes against everyone’s predictions; it’s not like MM is just making easy money. Honestly, opening my eyes to see the account is so painful, folks!!
