🌟💥🚨Bitcoin Breaks Resistance, Rally Continues... As highlighted yesterday, the macro liquidation at 76k indicates that breaking the local range will push the price to sweep that level. However, this doesn't just mean FOMO. There are the most effective strategies for situations like this...
The first / most appropriate strategy is to wait for a bullish back test of the psychological resistance level at $70,000. If Bitcoin remains above this level with high volume / open interest for 24 hours, it is likely to go higher. If you don't want to miss the opportunity, you can do averaging in, buying now and gradually as the price drops. An alternative / riskier strategy is to sell short, as Bitcoin is currently overextended. However, this approach carries much greater risk because Bitcoin volume is high and the floodgates are temporarily open. Whatever path you choose, use good risk management. Always set a trailing SL and Take Profit. ✅️FOLLOW FOR MORE✅️
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🌟💥🚨Bitcoin Breaks Resistance, Rally Continues... As highlighted yesterday, the macro liquidation at 76k indicates that breaking the local range will push the price to sweep that level. However, this doesn't just mean FOMO. There are the most effective strategies for situations like this...
The first / most appropriate strategy is to wait for a bullish back test of the psychological resistance level at $70,000. If Bitcoin remains above this level with high volume / open interest for 24 hours, it is likely to go higher.
If you don't want to miss the opportunity, you can do averaging in, buying now and gradually as the price drops. An alternative / riskier strategy is to sell short, as Bitcoin is currently overextended. However, this approach carries much greater risk because Bitcoin volume is high and the floodgates are temporarily open.
Whatever path you choose, use good risk management. Always set a trailing SL and Take Profit.
✅️FOLLOW FOR MORE✅️