Yesterday's Bitcoin activity marked a notable event as it approached the Weekly Open point at $65k but faced robust resistance, indicating a recurrent pattern. The resistance at the Monday low of $64.4k has intensified, adding another layer of challenge for upward movement. Presently, the trajectory appears to be directed towards the DM VAL, signaling a probable test in the $61.9k region. Considering the approaching weekend, exercising caution with leverage positions seems prudent given the prevailing market dynamics.
Maintaining the lower trendline serves as a pivotal indicator for sustaining bullish momentum. A crucial support level to monitor is $58,000, as its integrity is essential for the continuation of the upward trend. As long as this support holds, the overall sentiment remains bullish, providing a framework for strategic decision-making within the market.
Trading Bitcoin taught me some big lessons:
I always advise my readers to be patient. It might a sudden jump into $64,000 to make quick money. We are all responsible for the ups and downs of prices because we get panicked by just a short move.
investors. As I observe, it will go to the destination of more than $80 thousand, so don't panic. I am sure that the bitcoin might go up even more.
Make smart choices and do not sell. Never book your loss in such a situation that the market is obviously moving up. So please be patient and keep in mind that you have to take profit; don't leave without profit.
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