🅱️ Bitcoin's Correction, Should I Be Worried?

15 Mar 2023

Bitcoin produced really high volume and massive growth in the past 4 days to move back above EMA300, the grey line on the chart.

As this very important level is once more conquered as resistance, we see prices going lower.

Is this a trouble signal?
Should you worry?

The answer plain and simple is no.

After a major move it is absolutely normal to see a retrace takes place.

Bitcoin grew by a massive 35% in 4 days so this is what we call a healthy correction.

Continuing straight up would be unsustainable and not good for the future. Slow and steady growth signals strength.

The volume is high and the MACD entered the bullish zone.

When to become worried?
When things change to bearish?

As long as Bitcoin trades above EMA300 or above $23,500, the bias is ULTRA-BULLISH. No need to worry here.

If prices remain above $22,222 still, MEGA-BULLISH and strongly bullish above $20,000.

Always allow room for swings and shakeouts, volatility is normal when the market trend changes.

Should I be worried?

No, Bitcoin/Cryptocurrency has much more to give.

I hope you find this information useful.

Namaste.