There is people who shorted btc few weeks ago and still holding their short . Futures liquidation will occure the last friday of each month . ALL SHORTS sells will be closed automatically by exchangers to settle the futures price so it will be HUGE buy back to close short positions .
Once bounce back starts , then big players will start buying again and price will go up .
Topic: What tends to happen at "The Bottom" to cause the reversal? (Read 85 times)
Most people believe that the market will continue to fall until we reach a bottom and see capitulation.
Bottom ? Where do you think is the bottom?
The discussion of bottom is taking over in this bear and nobody knows for sure where is bottom.
The market, as I understand it, will then reverse and begin to rise again. So, what exactly happens to cause the reversal?
Nothing is new with bitcoin. Reversal will definitely start somewhere but not certain where. However, I look at a higher time frame spike to see how the reversal could start but that may be a correction either. The next month candle should be a signal if there will be a correction or reversal.
Liquidation first. Trader and gambler capitulation next. Then, miner capitulation.
After all, anger and depression must be next phases. We are still in panic phase and depression will occur together with miner capitulation. A long way to go.
Anyway you should not look at short sighted picture. Let's envision what will happen next 2 years, in 2024: next halving; US election are two big events. 4 years cycle with possibly 2 bullish years and 2 bearish years. When bullish and bearish ones start, we don't know, let's wait.
After all, anger and depression must be next phases. We are still in panic phase and depression will occur together with miner capitulation. A long way to go.
Anyway you should not look at short sighted picture. Let's envision what will happen next 2 years, in 2024: next halving; US election are two big events. 4 years cycle with possibly 2 bullish years and 2 bearish years. When bullish and bearish ones start, we don't know, let's wait.
Most people believe that the market will continue to fall until we reach a bottom and see capitulation. The market, as I understand it, will then reverse and begin to rise again. So, what exactly happens to cause the reversal?
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