Dear Traders,
LORD MEDZ of Big Juicy Pips here to provide an analysis of the recent BTC price movement. Please note that this is not financial advice but rather an assessment of the current market situation.
BTC has exhibited a notable bullish trend in recent times, showcasing impressive strength in the market. The most intriguing aspect of this surge is the fact that it has managed to fill approximately 50% of the gap left back in May 2022. Such a move is indicative of substantial market interest and momentum.
Looking forward, I anticipate a potential retracement of around 8%. This pullback would serve the purpose of testing a key support level at 32,000 USD, which BTC recently broke through. If this support holds, it could serve as a strong foundation for a further upward push.
Assuming this support level remains intact, there's a compelling possibility of an approximately 57% increase in BTC's value. Such a move would target the liquidation of old liquidity resting at 48,000 USD and could even see BTC fill around 50% of the gap at 50,700 USD. These are levels to watch closely as they might act as significant resistance points.
In terms of strategy, I'd recommend patience and a disciplined approach. Instead of chasing the current price, it might be wise to wait for a buy entry around the 32,000 USD support level. This approach aligns with the principle of buying low and selling high, which is a fundamental strategy for success in the world of trading.
In conclusion, the recent bullish push by BTC is impressive, and the upcoming test at the 32,000 USD support level will be crucial in determining the next market moves. While there is potential for substantial gains, remember that trading is inherently risky, and it's essential to have a well-thought-out strategy and risk management in place.
Happy trading, and may the markets be in your favor!
Best regards,
LORD MEDZ
Big Juicy Pips
(Not financial advice)
LORD MEDZ of Big Juicy Pips here to provide an analysis of the recent BTC price movement. Please note that this is not financial advice but rather an assessment of the current market situation.
BTC has exhibited a notable bullish trend in recent times, showcasing impressive strength in the market. The most intriguing aspect of this surge is the fact that it has managed to fill approximately 50% of the gap left back in May 2022. Such a move is indicative of substantial market interest and momentum.
Looking forward, I anticipate a potential retracement of around 8%. This pullback would serve the purpose of testing a key support level at 32,000 USD, which BTC recently broke through. If this support holds, it could serve as a strong foundation for a further upward push.
Assuming this support level remains intact, there's a compelling possibility of an approximately 57% increase in BTC's value. Such a move would target the liquidation of old liquidity resting at 48,000 USD and could even see BTC fill around 50% of the gap at 50,700 USD. These are levels to watch closely as they might act as significant resistance points.
In terms of strategy, I'd recommend patience and a disciplined approach. Instead of chasing the current price, it might be wise to wait for a buy entry around the 32,000 USD support level. This approach aligns with the principle of buying low and selling high, which is a fundamental strategy for success in the world of trading.
In conclusion, the recent bullish push by BTC is impressive, and the upcoming test at the 32,000 USD support level will be crucial in determining the next market moves. While there is potential for substantial gains, remember that trading is inherently risky, and it's essential to have a well-thought-out strategy and risk management in place.
Happy trading, and may the markets be in your favor!
Best regards,
LORD MEDZ
Big Juicy Pips
(Not financial advice)
Trade closed: target reached
Lord MEDZ