Bears apply the pressure as Bitcoin price revisits the $41K ‘falling knife’ zone
Cointelegraph
Published Sep 28, 2021 03:35PM ET
Updated Sep 28, 2021 05:20PM ET
"Don't fight the trend" is an old saying in the markets, and there are other variants of the phrase like "never catch a falling knife." The bottom line is that traders should not try to anticipate trend reversals, or even worse, try to improve their average price while losing money.
It really doesn't matter whether one is trading soy futures, silver, stocks or cryptocurrencies. Markets generally move in cycles, which can last from a few days to a couple of years. In Bitcoin's (BTC) case, it's hard for anyone to justify a bullish case by looking at the chart below.
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Written By: Cointelegraph
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