This is why we shouldn't worry after Bitcoin fell 9% in the previous day.
The Crypto market is all red once again and people are again living in fear but in this blog when I will share with you the market analysis of bitcoin it will help you stay calm for sure and decide what you will do in upcoming days with your holdings. Therefore, we will begin by merely examining the Bitcoin discussion below.Two lines are depicted in the above chart: the one at the top is clearly a support line that Bitcoin has tested for several times, and the one below is a support trend line that Bitcoin has confirmed and reversed; if that occurs again, we could see Bitcoin reach USD 91k once more.
You might even refer to the liquidity wick in the image above as the fake out, but to grasp what actually transpired, keep in mind that future traders' short bets were liquidated. More positions were established at 72–73k USDT, but as of right now, we haven't seen them liquidated. Traders, however, were terrified and began to close their holdings as bitcoin approached that level.As you can see above, Bitcoin witnessed a 10% drop in just one day, but it also saw a 20% increase in only 48 hours. As long as Bitcoin is trading above that support line, there is no need for concern. After that resistance line, which has been challenged for about a month, is broken, Bitcoin will reach a new all-time high there.
I believe that we can maintain our relaxation if you keep your eyes on these trend lines. Don't worry if we see more wicks in the days ahead; keep in mind that Bitcoin can still drop to liquidate further holdings. It is a very different bull cycle.
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