BITCOIN | Approaching The Rejection Area But Stay Cautious!
Hi,
After a kind of "fake" ATH, the price of Bitcoin has started to grind downwards. A couple of small sell-offs has brought the price to around 60k. Here you should be quite cautious but still, you cannot miss this opportunity to jump in. Quite good criteria matching around $58k - $61k which might help to find support leading into another push upwards.
You cannot miss it but you have to use stops or you should be ready that the price of BTC can turn nasty within hours because of the short setup. It basically knocking behind the door.
So, if a Daily candle closes below the shown areas then the selling pressure turns quite strong.
Firstly, let's wait for a rejection upwards but you have to be open-minded to turn your bias around quite quickly - at least short-term perspective. Use stops if you are a short-term investor, be ready to load from lower prices if your investment horizon is long-term.
Regards,
Vaido
After a kind of "fake" ATH, the price of Bitcoin has started to grind downwards. A couple of small sell-offs has brought the price to around 60k. Here you should be quite cautious but still, you cannot miss this opportunity to jump in. Quite good criteria matching around $58k - $61k which might help to find support leading into another push upwards.
You cannot miss it but you have to use stops or you should be ready that the price of BTC can turn nasty within hours because of the short setup. It basically knocking behind the door.
Firstly, let's wait for a rejection upwards but you have to be open-minded to turn your bias around quite quickly - at least short-term perspective. Use stops if you are a short-term investor, be ready to load from lower prices if your investment horizon is long-term.
Regards,
Vaido
