Bitcoin. What happened?

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The red candle in the graphic below speaks for itself. It’s a terrible day for bulls if they use their leverage. And if they did, they could zero out their account. The main question that our subscribers are now concerned about is: “What is it? A simple correction or change of trend”?

BTC

BTC

On Tuesday and Wednesday, the price of the first cryptocurrency rose to $1,900. It seemed a little more, a little more and will break through the absolute maximum of $20,000. In anticipation of this event, a huge number of buying positions with leverage were opened in the market.
What happens when everyone is waiting for the same event? That’s right. This event is most likely not happening. It happened on Thursday as well. The evil market couldn’t just let everyone make money. What’s more, it was very easy to take money away from bulls. That’s what was done.
When it fell below $18,000, many averaged, then it happened again below $17,500, then it happened again below $17,000. Further downwards the movement was already at the closing of the stops and margin calls. When there was no one else to sell the bitcoin, the price was bouncing upwards by more than $1,000 at the moment.
The most important thing was to understand who was buying the huge amount of bitcoins that were sold. Most likely, they were institutional investors who took the situation as a gift from heaven. When the market is growing rapidly for several weeks in a row, it is very difficult to buy a large volume of BTCs. But this is a great thing to do at a sharp drop. And the entry price is much better than in the last 10 days, when the market simply exploded with purchases made by various funds, public companies for their clients.
If we are right in the analysis above (and we do not know it yet), the level of $20,000 will be taken quickly enough, only in longs instead of part of the public, there will be other ‘smart money’.


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