After breaking under the much-discussed support from 50-52k zone, Bitcoin fell aggressively and made a low above 41k. A rebound was normal after such a drop and now the price is hovering under 50k, digesting losses. In my opinion, we will have a new drop from BTC in the coming days and this rebound can be considered a good opportunity to open short trades. 50-52k zone is now resistance and only a clear break above would lift some of the pressure from the sell-side
@dianaelena27, disagree. Yesterday morning buying was 80%. Today it is at 83%. Bitcoin is at a higher buying percent then it was before all the recent 4 or 5 crashes. I do expect since today is Sunday that the buying percent will fall as it does every Sunday, but so far it’s looking like a normal Sunday.
dianaelena27
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@Mega_man, it is short an dthe target for next few hours is 46600
dianaelena27
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@Mega_man, everyone says now we go down and you are saying we go up 🙄🙄
Mega_man
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@dianaelena27, not saying that we go up. Just don’t see the selling pressure that’s going to drop Bitcoin to 38k to 42k due to a 10% gain in buying activity since before the crashes. I believe buying was around 73%, may have been 79% early November. Even if buying was at 79% before the crashes it is up now 4%. I just don’t see it falling that far.