prezmacd on Nostr: #priceaction in any #market: You see a thing you want, and most people want. You find ...
#priceaction in any #market:
You see a thing you want, and most people want. You find out the price, and find that it's a really good one. So, you start buying - from someone who is selling. (You're not alone in this.) Once the seller runs out of that thing, and no one else is selling - the price people are willing to #buy said thing at rises (assuming it's of some reasonably critical value). As a result, the price people are willing to #sell at rises. Bid/Ask are tied together.
#Bitcoin is sitting at a level where buyers are willing to buy, and sellers are willing to sell. When everyone is done selling here, if market participants perceive #value gain still (despite a higher price) the price will rise. If not, it'll stall or fall. Until that unknown time, we wait.
There's good reason to think the bottom is around 56, maybe even 52 or lower. It's also reasonable to believe the current price is seeing a rejection, turning it into support. Look left on the chart and you will see why any of those could be true.
Saying anything more than that is the equivalent of speaking gibberish.
You see a thing you want, and most people want. You find out the price, and find that it's a really good one. So, you start buying - from someone who is selling. (You're not alone in this.) Once the seller runs out of that thing, and no one else is selling - the price people are willing to #buy said thing at rises (assuming it's of some reasonably critical value). As a result, the price people are willing to #sell at rises. Bid/Ask are tied together.
#Bitcoin is sitting at a level where buyers are willing to buy, and sellers are willing to sell. When everyone is done selling here, if market participants perceive #value gain still (despite a higher price) the price will rise. If not, it'll stall or fall. Until that unknown time, we wait.
There's good reason to think the bottom is around 56, maybe even 52 or lower. It's also reasonable to believe the current price is seeing a rejection, turning it into support. Look left on the chart and you will see why any of those could be true.
Saying anything more than that is the equivalent of speaking gibberish.