On Friday, the market began to panic amid news of intensifying conflict in the Middle East.
Absolutely all markets fell and people began to massively sell their assets.
Bitcoin only fell by -14.84%, but many alts fell by -30-45%!!
This is another lesson explaining with a live example 👉Why is it important to take profits in parts?
The media, as always, did an excellent job of releasing portions of horror stories.
As a result, all lovers of leverage worth $2 billion were liquidated on the crypto market, up to leverage x2, and all stops on the spot market were taken away.
That is, in fact, the market left everyone without positions.
💫 We have repeatedly warned you that in the current wide sideways Bitcoin, the market will do everything to leave you without positions.
After the collapse, Bitcoin remained within the sideways trend, which is similar in structure to the bullish Flag pattern.
We held 30% of the cash as a hedge of our open positions.
On this public channel we talked about why this is important in the current market 👉How to hedge your positions? And why is it important
As a result, our insurance waited in the wings and already this weekend we began to actively buy out the fall.
📉 Will the fall continue?
Bitcoin did not even come close to touching the long-term moving averages at $55,000 during this collapse.
Therefore, in theory, the fall may still continue.
BUT it is important to understand that now the market’s task is to take positions from weak hands before continuing the rally. What we talk about publicly all the time.
And during such corrections you need to buy the market 💰
🤷♂️ Just a couple of days ago, many were happy to buy everything in a row on highs.
And now, when many coins have fallen to the levels of 6 months ago, there is no particular desire among the bulk to buy.
We described all the facts in favor of medium-long term growth earlier. It's important to be prepared for the upcoming rally, which is why you need to build your portfolios around such bloodbaths.
🕯 Technical analysis
Within our expectations, the fight for $69,000 continues.
And the weekly candle closed at just -5% of its opening.
Bitcoin in the current flat pattern is perfectly unloading overbought indicators.
For example, this week the indicator has already cooled from 89 to 69, but is still in the severely overbought zone.
And during the day, Bitcoin completely cooled the indicator to 46, which is below the average value. Also, a hidden bullish diversion has already been formed.
📊 Conclusion:
Many market participants were left without positions and fear was instilled in their heads.
Emotions in the market have always been the main enemy of traders.
Such strong declines always provide opportunities to buy assets at very good prices.
In theory, we can see 1 more wave of decline, but personally we do not make such a bet.
There are already great prices for shopping now$ETH $NEAR $OM and to risk losing such good entry points for the sake of just the hope of continuing the fall is a dubious story for us personally.
Considering that historically the market has always shown similar movements before halving.
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