We have the crescendo effect in play at present possibly ? Seems like there's a rising trend but also resistance in this area and so range is becoming constricted as we continue. Perhaps resolution in the new year.
Its wavering back and forth across the weekly average, essentially its in a flat spin though some might say we are positive Iam a bit cautious. Add in the transition from holidays back to full working weeks not long now, just that can be enough to throw off the balance between bids and offers. BTC is already a volatile price movement often, we can easily move down in my conclusion and of course we can still go up further I just side with profit taking being quite possible short term.
Its wavering back and forth across the weekly average, essentially its in a flat spin though some might say we are positive Iam a bit cautious. Add in the transition from holidays back to full working weeks not long now, just that can be enough to throw off the balance between bids and offers. BTC is already a volatile price movement often, we can easily move down in my conclusion and of course we can still go up further I just side with profit taking being quite possible short term.
Short-term profit-taking has become a trend considering current market conditions. Every time there is an upward price movement, there will always be many people selling it and as a result the price tends to return to its original position. This is called sideway, but the potential for a decline is very possible, not higher.
Traders should be careful and avoid more panic. At the end of almost every year, market conditions are like now, but I am sure the market will improve soon in early January next year. Price corrections will still occur until this year is over, even now the price of bitcoin is experiencing a correction and testing the $41k support again. Let's see what's next, I hope $40k becomes the strongest support that won't break during this panic phase.
