Hello everyone, How are you all? I hope everyone is fine and doing great in their life.
In today's post I am going to talk about the recent market relief. We saw that the market reached 113k dollars today and people started to get excited thinking that the bottom was confirmed and now the market would only go up for the next two to three months.
Let us look at the chart below at 1D timeframe and understand if that is actually the case or it was just a liquidation in the market where short positions were liquidated in the market.
The two big lines green and white, the area between them is the area where we have been trading for last two weeks now. We saw the price breaking downwards for few days but that resistance was soon reclaimed and now that is actually working as support.
Now let us look at the screenshot below which is the zoom version of the chart and it will help us understand that how the market was liquidated. Have a look at it!
On 5th, 8th, and 9th September we saw the green resistance line getting broken but clearly it was just a liquidation. We can see that these are just market manipulation and the market is still comfortable between these two lines but let us look at the even more zoomed version of this chart.
The above screenshot is clearly showing us that how multiple movements above the green resistance line was just a liquidation. We can clearly see that there are weak price actions in the market and that is when the volume is poor at that price point.
This means that the market will still take us down, that is very much possible and 109.5k dollars is testable for now as well. If that happens then the Altcoins will bleed as well but let us see what happens next as we move closer to the month of October.
Maybe we might just see the liquidation of long positions now just like we saw the shorts getting liquidated. What are your thoughts about the current market situation?
Now this is the section where I am going to talk about the terracore base, it is a game from hive blockchain that I play and if you are not interested in games you can already skip the blog.
Above screenshot is where you see my attacks from terracore base and the attacks just got me 496 scraps and these are less as I used six attacks today and the approx win was not even 100 scraps but it is ok, I still will prefer to do more attacks before I judge my new stats.
By the way, we shifted to new stats and they can be seen in the screenshot below.
Thank You and make sure to check Crypto Company services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.
