Bears Are Taking Over Again

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A short analysis of today's market.

The most significant sign for someone to sell and scoop more during the dip is to sell at the first instance that bearishness set in.
When Bitcoin went down to 36.9K and barely making it back to 37K, that is the first confirmation that bears have taken over the market again.
You can verify this information on the chart as well as the volume. The 38K to 39K that Bitcoin made yesterday does not have much confirmation if we look at the volume. Also, there is no significant news or progress that could bring Bitcoin past the 40K level.
It's Friday in the Asian markets. Most of us are securing our profits and converting everything to stablecoins. The dip will be even worse tomorrow as the Western world enters the weekend. This will be a bloody weekend again just like May. But who knows? Everything is possible in the crypto market.
I may be wrong within the next few hours. ?
(Image owned by Hans-Jurgen Mager.)