#Bitcoin is tanking as of now as we are seeing the strong selling pressure right after the price breaks above the $71.5k region.
The main factor is the instant fear in the market as a lot of investors are pessimistic about the CPI data tonight.
The whole tradfi is in major hit as there is a negative sentiment all over the market. However, this is in contrary with the on-chain that I have and the technical analysis that I also have.
There are 2 possible scenarios which I’m looking right now which those 2 scenarios are the “up” only scenario. I’m still at the same bias which every dip is the buying opportunity scenario.
So, still there isn’t any change in term of direction. It will take a little bit longer than what we expected.
Keep an Eye on $BTC
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"Disclaimer:
This post is for educational purposes only and I am not your financial adviser. It is not financial advice. Please always conduct your own research and analysis before investing in any cryptocurrency or relying on the information provided. The content is based on data available as of [current date], and market conditions may change rapidly. Invest wisely and consider your risk tolerance before making any investment decisions.
#nomaeffect
