đ¨ $BTC UPDATE: TECHNICAL ANALYSIS
Bitcoin is up almost $1K in just 4 days, so now everyone is thinking the same two things:
1) Did I miss the move?
2) Should I short here?
BTC first broke an important $67K neckline and then $72K resistance also broke.
But now $BTC is showing weakness around $77,000.
For scalping, a small short can be considered till $73,000. Iâm not saying open a big short blindly here, but after such a big move, a pullback is very much likely.
For safer traders, I will suggest waiting for $BTC to test $77Kâ$80K, show rejection, and then see if it comes back near $73K.
And for spot buyers who missed the lower entries, donât get FOMO. If BTC gives a healthy pullback toward $70,000, that can still be a very good area to start building a spot position gradually instead of FOMO buying after such a big pump.
So donât think, âI missed BTC.â
You may have missed the lower price, but you have not necessarily missed the opportunity.
Bitcoin is up almost $1K in just 4 days, so now everyone is thinking the same two things:
1) Did I miss the move?
2) Should I short here?
BTC first broke an important $67K neckline and then $72K resistance also broke.
But now $BTC is showing weakness around $77,000.
For scalping, a small short can be considered till $73,000. Iâm not saying open a big short blindly here, but after such a big move, a pullback is very much likely.
For safer traders, I will suggest waiting for $BTC to test $77Kâ$80K, show rejection, and then see if it comes back near $73K.
And for spot buyers who missed the lower entries, donât get FOMO. If BTC gives a healthy pullback toward $70,000, that can still be a very good area to start building a spot position gradually instead of FOMO buying after such a big pump.
So donât think, âI missed BTC.â
You may have missed the lower price, but you have not necessarily missed the opportunity.