#BTC/USDT at Decisive Point. Prepare for Next Move!!

7 Feb 2023

Bitcoin is trying hard to get back above the blue MA.
Struggling to get back above the 23k.
Considering the body close price has already broken the pattern whereas if you consider the wicks Price is still on support.
Which one will work here?
I don't know honestly.
One thing is for sure, as long as $22.6k holds BTC can hit the 25K level again.
Only if 25K breaks to the upside we can expect a $30k target.

A hard rejection could take us back to the $20.4k level which is still untested (Less likely but Possible)


What's my course of action?

I am holding 60% in BTC and 25% USDT.
15% of my portfolio is in Altcoins

If we close below 22600 I will look for opportunities to buy Altcoins on Spot.
I am playing very carefully on Leverage.

Conclusion:- BTC has rallied over 55% and needs a little cool off while it can pump a little bit more to grab more late longs, So trade carefully, Lower exposure on Margin and Leverage. It's more likely to loose money on leverage.

This is not Financial Advice.
DYOR before taking any trade decisions.

Let me know what's your plan ion the comment section.

Do hit the like button if you like it and share your views in the comment section.


Thank you

#PEACE

8 Feb 2023

Dagangan aktif

I hope you managed your risk as said in the above post.