Hi traders, How are you surviving these volatile days in the market with Bitcoin dipping into the $66,000 price territory? Everything has suddenly shifted to a bearish scenario, especially after traders built up high hopes that prices would head toward the $93,000 level.
The truth is, people only love to see things go up and never wish for them to come down. That is a completely normal feeling for bull market lovers and of course, who wouldn ’t love a bull market? However, prices never stay up forever. As market participants, we must always expect times like this. It is a very normal part of the cycle because these downturns create opportunities to build crypto millionaires at least for the people who know what to do at the right time.
Personally, I knew Bitcoin was going to dip. If you go through my previous posts on Bitcoin price predictions and crypto market analysis, I predicted that prices were going to drop to the $66,000 and then the $38,000 price levels. This drop happened because Bitcoin failed to break through the resistance at the $81,000 to $83,000 price levels.
The main price target required to flip the market entirely bullish was at $95,000. Because the price could not even break past $81,000 and $83,000, it signaled very heavy weakness in the market. As of the time of writing, the price sits at the $66,000 level, and many traders who took long positions are currently complaining about liquidations. The entire crypto market today is bloody. Let's hope we find the bottom soon so we can prepare for the next bull run. That's all for now, guys. Stay safe and cheers!
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