There is huge price trend change on the crypto market and the prices almost doubled now from the prices of beginning this year,we almost had $1000 price increase in the last 24 hours alone so can we confirm now that no more bears for now even the corrections?
Any TA experts confirm it.
I totally agree with you, any technical analyst can assure you that prediction, but remember that the market usually moves according to the scenarios, that is, if we see that the bitcoin market makes a providential increase, people start to enter because they want to lose the movement, and the price is increasing and with a lot of volume, what can not be ruled out is that they are bullish traps, in Wyckoff's book Valdecantos, he explains this scenario, but what is the problem of the TA? that's just that, because they are based on indicators and a series of tools with a lot of calculation, approximations and statistics, but those indicators are not going to tell you what phase of the market is, which was what happened, if it was the movement of a Whale or institutional money, if the volume is fictitious or if they only made the move because they wanted to try the offer at those levels.
That is why we are very careful to enter the market when the movement of it is taking place, because many can assure that we are bullish, but we are in a phase of accumulation, that is, at any moment it can fall, and those who have entered in LONG your position may be liquidated.
It usually happens a lot, in my personal opinion, we are not yet in the bullish trend phase, we are still in the accumulation stage and these movements tend to occur because the volatility in this phase is high, and it may fall at any moment because the effort what they do to raise the price must be seen in profits for those who decided to do it, and that is usually rewarded when the same whales are sold gradually.
