Hello, dear friends! Let`s talk about market situation.
Total market cap is about $111B. The BTC price is now below $3,400. The bears managed to keep the price under the support level of $3,450. And the whole market is shaking, many people are acting emotionally, which adds to the whole difficulty of the situation.
But in fact, it is still not time to lose hope. First of all, this uncertainty made many inexperienced people who often make illogical decisions leave the market. Crypto experts can spot many patterns on the BTC chart. There were several flags in a row which later were followed by a price drop. But if you look more globally, you will notice a falling wedge. And it is now almost closed.
If the Bitcoin manages to break the top band of the pattern, there is a high chance of the price going up and fixing above another support level. So it is extremely important to pay attention to all the details to predict which way it will go as it is not possible to be sure now.
Please, consider this article a description of one of the possible scenarios, not a trading recommendation.