BTC has finally given us a rebound! 🚀 The key question now is: will Bitcoin continue its ascent, or is this the optimal point to plan the next trade? Let's dive in.
Fading headline risks prompted a strong BTC bounce, pushing prices up post-drop. This highlights why we avoid chasing fear or FOMO. Instead, we patiently await market reactions and adhere to defined ranges.
Objectively, BTC remains within a clear box: support around $63,000 and resistance between $70,000–$72,000. Post-rebound, there's no need to chase highs. Strategic Entry is near support, not mid-range at a worse price.
My current strategy involves taking TP on spot positions bought near the dip. I will then look for short opportunities around $70,000–$72,000, as this zone still holds heavy resistance/supply.
To protect against sudden spikes, I plan to enter short positions in batches between $70,000 and $72,000. This approach offers enhanced safety and allows for better risk management.
In a range market, "bullish" rebounds can fail at resistance. If price cannot establish acceptance above the key resistance zone, it often rotates back down. We stick to low leverage and a clear SL to manage risks.
Remember, shorting the bottom when BTC dumps into support is a common mistake that traps late shorts. The smart move is either buying spot near support or patiently waiting to short at resistance.
I will soon share a complete BTC analysis with proper setup. Follow me to not miss upcoming trades! 🔔
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