BITCOIN looks weak but what to do with it right now?
Analysis
Bitcoin continues to slow down. It made a new maximum at ~65k which is really underwhelming considering it was the second attempt to gain some steam after a strong pullback. Even worse, it also made a new minimum which is lower that the previous one. Bitcoin looks very weak. Indicators also show the same dynamic confirming my price analysis.
What to do?
- I strongly recommend selling either all of your positions in BTC or at least 85% if you can afford the risk. And if you can, please, set your stop-loss at 49k.
ALSO
If you have any profit now, but would lose it at 49k - you can’t afford the risk, close your positions now. Your main goal is to make profits, stand by it. There is a plenty of fish in the sea, trust me.
What to look for now
There is a strong possibility that we’ll see Bitcoin at 40-43k during the next month. I play around that possibility. If BTC gains some steam at these levels, I’m gonna look for signals to buy it. If it gets weaker, I’m gonna search for a short setup.
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Bitcoin continues to slow down. It made a new maximum at ~65k which is really underwhelming considering it was the second attempt to gain some steam after a strong pullback. Even worse, it also made a new minimum which is lower that the previous one. Bitcoin looks very weak. Indicators also show the same dynamic confirming my price analysis.
What to do?
- I strongly recommend selling either all of your positions in BTC or at least 85% if you can afford the risk. And if you can, please, set your stop-loss at 49k.
ALSO
If you have any profit now, but would lose it at 49k - you can’t afford the risk, close your positions now. Your main goal is to make profits, stand by it. There is a plenty of fish in the sea, trust me.
What to look for now
There is a strong possibility that we’ll see Bitcoin at 40-43k during the next month. I play around that possibility. If BTC gains some steam at these levels, I’m gonna look for signals to buy it. If it gets weaker, I’m gonna search for a short setup.
Like and subscribe for more content in the future! And don’t forget to check out my profile!