BTCUSD | Bearish Reaction Happening

29 giu 2023

Bitcoin made a quick reversal up, in what may seem like a bullish trend reversal.

The accumulation of sell orders (new sellers picking tops + previous holding buyers liquidating their positions) at the high are expected to cause a bearish reaction against the buyers' wave.

Such bearish reaction could be interpreted as a mere retracement and not necessarily a trend reversal. Therefore, the trend is expected to come back up post the expected reaction.