Crypto Market Update: You Have To Be Careful Now

Bitcoin at $24000+ sounds promising, but …

We are all waiting for the market to flip and become bullish again, after all, what goes up must go down and vice-versa. But you’ll need an extra layer of carefulness, now more than ever if you are planning to buy since $BTC is out of the $17000 area.

About more than one month ago, I wrote this article about the market’s situation. The main points of the article were that Bitcoin has proved to be following the overall market which isn’t looking good itself and that unless we saw a strong rejection of the box that was forming and rallying to $24000+.

I additionally mentioned a broader H&S pattern that didn’t reach its target yet, but we all know that $8000/$9000 is not that much important in the big picture, and patterns don’t always precisely respect their targets.

But didn’t you say that if we saw a break of the $24000 level the market could have recovered?

We will need significant volume and a massive break of the $24K level to change the course of the market, which is something that I doubt will happen … [from here]

The part I like the most from this statement is the significant volume part. There is no breakout that occurs with low volume, and take a look at…