BTC market price analysis| What’s the next come back target for BTC after a big crush down in its price a few hours ago?
BTC is generally in the bullish run on a longer time frame including daily, weekly and monthly. I watched it crush down with a strong bearish candlestick pattern at a very high speed to a low as $9280.5. What could have caused such a quick crush down from the consolidation zone of around $10200? This is why it’s important to apply the fundamental analysis as well in your trading. I personally rely more on the Technical analysis in making my moves in the market.
The next target for BTC should be around $9800 as it makes it’s come back. Remember BTC is generally bullish. Don’t go against that trend as it will affect you badly. If you are going bearish on BTC do it on a shorter time frame but for a longer time frame opt for a bullish move in order to collect for yourself some good profits.
Did I make any good use of that bearish BTC move that happened a few hours ago? No, I didn’t because I was not sure of where it was headed. Normally it’s the Major negative headlines that cause such bearish moves in the market.