It is funny how I thought Bitcoin would have hit $64k and above by now but instead the price of Bitcoin got rejected by the $44k resistance after hitting $46k, my expectations for Bitcoin is that it was supposed to go up since the United States government admits that inflation rate is bad and it has now hit 7.5%, but instead people dump it because they are afraid the Fed (the US Federal Reserve) will actually try to deal with inflation, proving once again that humans fear a lot and much more that sentiments can affect the market, those panic selling won't allow the bull move the price up but let's see what happens by next week though.
Right now I feel, that Bitcoin failed at major the resistance at $44k but didn’t drop far that means it's s more likely to recover again soon, I actually expected a pullback before any huge pump. I just see this current dip or rejection in the market as the bears first opportunity to test the strength of the bulls and hopefully, they will get rekted, I like to see the market in two scenarios if the market is bullish, I still prepare for the dip so I don't get caught on aware, the same thing with the bearish move.
Some people still have the expectations. that Bitcoin is just one of the most manipulated assets In the world and the market is going to crash even forward, may to $28k as the bears have predicted, before the last bounce in the market.
But that's not what I feel and see, like I have said earlier this could be the bears testing the waters. Now once the market recovers again, it should give more confidence to the bulls that the resistance will be broken, which when broken it becomes a big buying or bullish signal. I am anticipating $44k resistance to soon turn into bull support.
For me, buy the dip (but is not financial advice though), We know why bitcoin was made for. It is a macroeconomic hedge against any one government against crazy economic policy. Seriously, selling BTC at this point over inflations fears that just our human emotions taking over, people are looking at bitcoin as a risk asset when in reality, the dollar is more of a risk than Bitcoin is, in my opinion, and another thing is bitcoin can even recover and surpassed where it dropped from. Thanks guys for reading my post.