9 months ago

Welcome back to the Ngan Ha Book Review channel!
Today is February 26, 2025.

Yesterday and today, the cryptocurrency market has experienced a sharp decline, especially with #Bitcoin.

The question is: Why has Bitcoin dropped so drastically?
Is it due to some negative news?

Based on my years of observation, when analyzing the daily candlestick chart—just as you can see on my chart—nothing happens by chance. There is no such thing as randomness in the market.

Typically, when considering price patterns, if Bitcoin is in an uptrend and touch at the $96,000–$94,000 resistance zone, it should bounce back after touching this area, especially when combined with trendline support.

However, the pattern on February 25 and 26 is completely different. This is no longer a bullish setup. Instead, we see a breakdown, with Bitcoin falling below the $94,000 trendline support. Once this level was breached, countless traders recognized the technical pattern and placed sell orders, leading to today's sharp decline on February 26.

As I’ve mentioned in previous videos, when a significant number of traders hold short positions at this point, there is a high risk of a whale, shark ambush, where they maybe reverse the trend to liquidate short sellers.

The deeper the drop, the stronger the rebound.
That’s why in this zone, we should patiently wait for signals. If the they launch an ambush against short sellers, it could present a major profit opportunity.

Buy book on Amazon to read more:
Link amazon: https://www.amazon.com/dp/B0DLVNTY3Y

https://youtu.be/ndovfh3oEyI

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