You should've realized by now that this is the riskiest key level to enter.
Here's why.
First things first, this key level attracts many longs as many novices would think that since it's created an upside impulsive wave, it's safe to assume it would continue to do so.
This is where it gets tricky.
As this box have highlighted the possible ranging level of #BTC. Most alts that have reached 20%-50% or more would most likely have trouble in continuing their rallies as even if the price gets pulled slightly at 64.4K-65.7K, there is still a high probability of it bumping into rejections by selloffs causing the alts to go down as well.
Hence, the best action we will take in this kind of market scenario is to wait. Our patience, observation and reaction (POR) strategy will make us gain more advantage in the market and better viewpoint.
So, let's wait.
Stay wise, trade cautiously.
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