BTC - tricky to trade

17 abr

I'll feel more confident about a potential uptrend if we can surpass the ~67k mark, where Monday's high range lies and from which we were rejected on our first bounce. If not, we're likely to continue experiencing volatility in this zone, potentially dipping to yesterday's lows around 61.5k. The 60-59k range—a critical support zone, that should mark the end of any selling, if not we could see another big drop and flush.

At this moment, we are still considering scenarios that would see us drop to the 55-48k range as it was our first thought on BTC.

In crypto, saying anything is impossible isn't wise as the market is unpredictable. That's why it's crucial to avoid leverage to not get knocked out by such extreme moves. A fall to 55-48k would represent a -30% correction on BTC, which is still perceived as healthy and bullish in the long term.

The best strategy now is to endure, stay patient, and hold off on selling your spot purchases until the market trends upwards again.