BlackRock dumped 1.5 billion dollars into hoarding $BTC for a month—yet the chart still hasn’t even given a decent rebound?
Don’t get carried away by the news that institutions are buying. At the current price of 84,849 dollars, it’s still down 0.69% over the last 24 hours; if the follow-through can’t keep up, it’s possible that the institution could be left-hand buying and right-hand selling as well.
The slightly bullish signal is that it holds and stands above the prior high at 85k dollars with increased volume—adding lightly isn’t a problem. If it’s weaker and breaks below the 84k support, then pull back for now. Don’t rush to bet on direction until there’s confirmation. When good news lands, that’s often when markets reverse.
Right now, I’m holding the $BTC calls1, and the 2 puts—staying on the sidelines and waiting for a pullback.
#Write2Earn #BinanceSquare #BTC ETF #TradingTournament
Don’t get carried away by the news that institutions are buying. At the current price of 84,849 dollars, it’s still down 0.69% over the last 24 hours; if the follow-through can’t keep up, it’s possible that the institution could be left-hand buying and right-hand selling as well.
The slightly bullish signal is that it holds and stands above the prior high at 85k dollars with increased volume—adding lightly isn’t a problem. If it’s weaker and breaks below the 84k support, then pull back for now. Don’t rush to bet on direction until there’s confirmation. When good news lands, that’s often when markets reverse.
Right now, I’m holding the $BTC calls1, and the 2 puts—staying on the sidelines and waiting for a pullback.
#Write2Earn #BinanceSquare #BTC ETF #TradingTournament
