Yesterday the bookmaker announced the war to legalize the price line, now I see more and more people viewing $BTC down to 50k-40k and deeper than r.
One thing that cannot be seen on the chart is the psychology of retailers. Currently, the market basically has 4 types:
1. Went all-in at the bottom price, had a nice entry and now only lost part of the profit => during this time part of the fear will wait to buy at a lower price, part of it will be stubborn regardless.
2. Having gone all-in at the higher price range, currently losing all profits or already at a loss, swinging to the top will cost /2 tk => similar to above, part of the fear will cut losses and wait to buy at lower prices, part will regardless
3. Hold 100% of USDT and wait for the target price to drop (including newcomers to the market and the team above to cut losses on USDT)
4. Buy a part of the stock, hold a part of USDT => wait for it to decrease then DCA continues, otherwise stop (this type is usually a holder, may lose temporarily but in the long term will definitely profit)
The longer the sideway price gradually decreases, the more depressed and fearful retailers become => every time the price drops, retailers in categories 1 and 2 will have more and more people waiting in line to buy at lower prices => category 3 will become more and more crowded. If enough goods are removed, the market will begin to increase again, leaving many people without goods behind.
