Bitcoin and several altcoins are trying to break out of their respective overhead resistance levels in order to restore bullish momentum.
Most retail traders find it difficult to go against the herd and buy when the market is down. They generally wait for the price to recover and for improvements in sentiment before jumping in. By doing this, retail traders typically miss the larger part of relief rallies and pocket a smaller profit.
On the other hand, professional investors capitalize on sharp corrective moves by purchasing if they believe that the fundamental long-term trajectory remains intact.
Daily cryptocurrency market performance. Source: Coin360
New research by OKEx Insights and Catallact indicates that retail traders were “shaken out” by Bitcoin’s (BTC) crash in March and they did not return to the markets quickly due to a wait and watch approach. In contrast, larger players bought during the Black Thursday crash and continued to accumulate throughout the summer.
Now that Bitcoin has risen above the