Bitcoin 
$96,065.54 price At the time of writing, it creates candles worth hundreds of dollars. The price did so very quickly, hitting a new daily low at $94,705. Sudden sales and the bottom wick being filled are annoying for investors. Cowen had been warning of bigger losses for some time and came back proudly in the downturn. So what does the measurement cross on the chart tell us?
Bitcoin Drop
At the time of writing BTC While deepening the bottom of the log, it started to create sub-wicks and fill it. It’s a disturbing situation, and the price falling below $95,000 while advancing to both the daily and weekly close indicates that the new week may not start well. Asian investors have started to weigh in on stocks, and the US investor group has also been heavily selling for a while.
Sell candles in crypto that look like abandonment, at least in the short term, are linked to a death cross, according to Cowen.
“Bitcoin performed a death cross today. Note that previous death crosses indicate local lows in the market. Of course, when the cycle doesn’t end, the death cross stunt fails. If the cycle is not over, Bitcoin’s bounce time will begin within the next week.
If there is no rebound within 1 week, there will likely be another decline before moving back to the 200D SMA, indicating a lower top at the macro level. “Trade based on the market you have, not the market you want.”
Coinbase Premium, which shows the appetite of US investors, has been net negative since October 30, and appetite has not yet recovered as fear continues to grow.
XRP Coin and Markets
Bitcoin There are two reasons for the negativity in altcoins. South Korean investors are not buying and US investors are not buying. There are many reasons why they started to hold back from purchasing, but this process has not just begun. As a result of the weakening of risk appetite, whale sales continued until they bought and we reached the point we are at today. Martinez made 200 million in the last 48 hours. XRP He warned investors because it was sold.
One obvious thing for the decline is that losses increased during the US market opening hour. This is the same situation that we see volatility in the early morning hours, that is, during their market opening hours, when South Korean and more broadly Asian investors are making their presence felt.
DaanCrypto wrote the following about the current situation;
“While the main reason for BTC’s all-time high in October was the US Trading Sessions and US investors, they are also the main reason for the recent sell-offs. Most of the declines occur during the US and EU sessions.
The Asian session was quite bearish until the all-time high in October, but there wasn’t actually a major selloff during that actual decline. Most moves still occur during the US session, which is, of course, the session when ETFs are traded and the highest volume occurs.”
