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My strategy: why I'm waiting for BTC to dip.
The local bounce of Bitcoin to $63,060 looks frankly weak. Volumes are dropping, and the selling pressure after the recent "hawkish" news from the Fed is still present.
I personally am not rushing to jump into the market right now and I'm not falling for FOMO. I believe this current move is a trap for longs, and soon we'll enter a new phase of decline towards a true local bottom.
My target for starting to build my position is a solid test of the zone between $61,500 – $62,000. I'm expecting a final squeeze and liquidity grab right there. Only in this range will I start hitting my limit orders. For now, I'm just chilling in cash and watching.
The local bounce of Bitcoin to $63,060 looks frankly weak. Volumes are dropping, and the selling pressure after the recent "hawkish" news from the Fed is still present.
I personally am not rushing to jump into the market right now and I'm not falling for FOMO. I believe this current move is a trap for longs, and soon we'll enter a new phase of decline towards a true local bottom.
My target for starting to build my position is a solid test of the zone between $61,500 – $62,000. I'm expecting a final squeeze and liquidity grab right there. Only in this range will I start hitting my limit orders. For now, I'm just chilling in cash and watching.