Hello Bitcoin traders. BTC has moved to previous low level of $29799. Now, it has to make the choice of where to go!
Scenario 1: buyers come in to push the price up to $34500.
Scenario 2: sellers take control to break the previous low and further down to second defense level of $20000.
Without positive influencers joining in, the second scenario is likely to happen. That will be another 30% drop from the current level.
I think buyers should pay special attention to risk management. Don't use high leverage. Once the breakout happen, it might go down significantly with a fast speed.
I would recommend buyers to buy BTC ETFs, e.g. GBTC
Give me a like if you're with me. Please trade safe and stay safe!
Scenario 1: buyers come in to push the price up to $34500.
Scenario 2: sellers take control to break the previous low and further down to second defense level of $20000.
Without positive influencers joining in, the second scenario is likely to happen. That will be another 30% drop from the current level.
I think buyers should pay special attention to risk management. Don't use high leverage. Once the breakout happen, it might go down significantly with a fast speed.
I would recommend buyers to buy BTC ETFs, e.g. GBTC
Give me a like if you're with me. Please trade safe and stay safe!
Commento:
BTC bounced back by more than 7% today. It's a huge move. I just checked the news and nothing out there. I guess, just some buyers come in to buy around the previous low structure. But I noted that it has to conquer the downtrend line to establish the bullish trend to the upside.
plan your trade and trade your plan
