The crypto market is currently experiencing another huge dump or correction, with a possiblity of we seeing another huge correction like we saw early this year when Bitcoin dropped from $64k to $29k, before price came back up.

Source

Look at the chart above you will see that before price dumped to $29k in July, it first had a dip that from a lower low, where I drew the first circle on the chart, followed by a bull trap before the massive dump to $29k happened.

Now look at the recent chart, you will see the same thing playing out, a huge dip that formed the lower low, where I drew the second circle on the chart, then the market recovered like the bull trap that happened in May this year, now we are experiencing another huge correction that has broken below the previous resistance at $46.5k level.

Also BTC Dominance is up 3.53% with it current price at $42.12, which could also influence the current correction in the market, you know the drill when BTC Dominance goes up the market goes down, so be careful in the market right now, because if it breaks the previous support we might see price correct further, But I'm looking forward to the previous bounce area to see what happens.

Could this be that the bears are getting ready to take charge?

Posted Using LeoFinance ^Beta