Bitcoin Faces High Selling Pressure at $69.5K
Even though Bitcoin couldn't break 70K, the outlook remains optimistic.
Our analysts suggest a potential correction to $65.000, an important area of value supported by dynamic resistance on the daily chart.
This correction, however, is seen as a healthy reset rather than a cause for concern, particularly as stochastic indicators suggest a favorable setup in the near future.
What Should Traders Do?
For those holding Bitcoin in spot markets, the advice is simple: stay calm.
Any correction is viewed as a buying opportunity for those with a long-term outlook.
Leverage traders, however, might want to exercise caution.
With the market expected to remain volatile in both directions, it’s a risky time to be trading on margin.
Our analysts suggest a potential correction to $65.000, an important area of value supported by dynamic resistance on the daily chart.
This correction, however, is seen as a healthy reset rather than a cause for concern, particularly as stochastic indicators suggest a favorable setup in the near future.
What Should Traders Do?
For those holding Bitcoin in spot markets, the advice is simple: stay calm.
Any correction is viewed as a buying opportunity for those with a long-term outlook.
Leverage traders, however, might want to exercise caution.
With the market expected to remain volatile in both directions, it’s a risky time to be trading on margin.
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