As I mentioned recently in the last few weeks, the price collapse that the crypto market has been experiencing has been the main focus of attention on a global scale, particularly what has been shocking states and financial institutions the most is the decline of Bitcoin.

It is worth mentioning that since last Wednesday, May 19, the Bitcoin has retraced about 5 times finding support above $30,000, at the time I was writing this post, the price had already recovered around $33,300, now, before taking a position in the market is to ask yourself, if this drop is part of a necessary correction in the cryptocurrency market, or if there are indeed technical signs to enter a downtrend?.

The doubt, if there are technical signs to enter a downward trend, arises because for some analysts this new setback is mainly due to a price correction in search of financial oxygen, and the latter will probably be observed in the coming days, weeks and months, this because, since the weekend began to visualize a sideways movement of BTC between $30,000 and $40,000.

In particular, as I have already mentioned above, these market cycles currently exhibited by BTC are precisely the ideal times to take a position, and to be able to capitalize on subsequent price movements.

If you ask me, I think we are being presented with a new opportunity to enter trading and capitalize on the current range our benchmark cryptocurrencies are in.