Hello everyone 🌸
$BTC is once again below support. Due to the current low market volume, the risk of sudden directional changes and manipulation is high. The low trading volume is especially linked to the U.S. markets being closed for the holiday. This could increase the impact of spot sales in the market, leading to declines.
The selling pressure observed on major exchanges like #Binance and Coinbase has caused #BTC to fall below the support level. Looking at the overall structure, as long as there is no close below 60,063, Bitcoin can rise. If it closes below this level, the upward structure will be disrupted. In this case, the 56,557 level we are tracking based on the daily Libra formation will become important. We will look for a new reversal confirmation as long as it stays above this level. The low volume means that the risk of fake movements and manipulations in the market is higher.
Therefore, it is wise to avoid risky and short-term trades until the market gains volume. Waiting for the market to return to its normal volume can be a safer and more solid strategy.
