Bitcoin Update 4 Hours:
The price is currently in a clear downward range after breaking a previous peak and failing to maintain it, leading to a strong decline and breaking previous support areas. There is currently a retest of the level where the price lost momentum, indicating continued weakness from buyers.
Upcoming Prediction:
The trend is leaning towards a decline as long as the lost resistance levels (near 112000) are not regained. If the price fails to return above this level, we will likely see an attempt to test liquidity below 107000 or even 104500.
Advice:
Do not enter a buy position currently unless the price returns above 112000 with strong trading volume. It is better to monitor low liquidity areas for a buy entry if strong reversal candles appear. As for selling, it can only be considered with a clear break of the 107000 level targeting 104500.
Risk management is essential now; do not risk more than 2% of your capital.
The price is currently in a clear downward range after breaking a previous peak and failing to maintain it, leading to a strong decline and breaking previous support areas. There is currently a retest of the level where the price lost momentum, indicating continued weakness from buyers.
Upcoming Prediction:
The trend is leaning towards a decline as long as the lost resistance levels (near 112000) are not regained. If the price fails to return above this level, we will likely see an attempt to test liquidity below 107000 or even 104500.
Advice:
Do not enter a buy position currently unless the price returns above 112000 with strong trading volume. It is better to monitor low liquidity areas for a buy entry if strong reversal candles appear. As for selling, it can only be considered with a clear break of the 107000 level targeting 104500.
Risk management is essential now; do not risk more than 2% of your capital.