TraderNeoh

BTCUSD (Bitcoin) - I Think It Still Has Downside Potential

KRAKEN:BTCUSD   比特币
Hi Traders. It's been awhile since I last updated on Bitcoin.

Bitcoin has dropped from 69k now down to 20k (17k was the recent low), the big question is, are we near the bottom yet?

I personally do not think so. The main reason is because I do not see huge portion of buyers giving up yet.

One simple concept you need to understand, is how to Bigger Players/ Smart Money are thinking.

In their world, due to their significant number of capital, they will always have the patience to hold and wait.

As they're interested in long-term holding, one of their goals is to make sure short-term holders/ retail holders give up.

So they can collect these bits of Bitcoin with a huge discount, as retail traders normally suffer financially during market turmoil, then lead to emotional decision.

Market Capitulation was one of the important concept I've discussed a month ago, I'll link it down below for your reference.


If you enjoy the content, make sure you follow my profile and click the like button.

Take care and trade safe.

All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.

免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。