Bitcoin update 3.03.2023

3 Mar 2023

Why did bitcoin drop tonight?
You can explain it fundamentally - The dump may be due to concerns about the collapse of the Silvergate crypto-bank
Technically - reaching liquidity zones as I said in the last post

After the drop are you afraid to buy? - many are looking at the chart like they are spellbound. A local bounce is possible it is logical

Will the decline continue?
If there is a collapse of Silvergate - yes
But either way after we go up, I have no doubt
For me the ideal entry point would be below the liquidity zones indicated by the blue boxes - there will be the biggest pain

Let's trade the market, let's follow the risk management

Best Regards EXCAVO

5 Mar 2023

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