I want to be honest with you about something most people are too afraid to say right now.
BTC is sitting at 77,645 and everyone around me is screaming that the bull run is back. I have seen this exact setup before. Three times in the last ten years.
Look at the chart carefully. Price bounced from 60,000 but we are still trading BELOW MA7 at 79,279. That is not a bull run. That is a dead cat bounce until proven otherwise.
The real test is coming in the next few candles. If BTC cannot close above 79,279 on the 3 day chart the next stop is 74,000 where MA25 is waiting. And if that breaks we go back to test 60,000 again.
67 percent of the order book is sellers right now. Whales are not buying this move. They are selling into your excitement.
I am not saying do not buy. I am saying do not chase. The patient trader waits for 79,279 to flip into support before adding size. One confirmation candle can save you from a 20 percent loss.
The people who survive long term in this market are not the smartest. They are the most patient.
Key levels right now. Resistance 79,279. Make or break level 74,000. Safe entry only above 80,000 confirmed close.
Are you buying this move or waiting for confirmation. Tell me below.
Not financial advice. Do your own research.
#BTC #Bitcoin #BinanceSquare
BTC is sitting at 77,645 and everyone around me is screaming that the bull run is back. I have seen this exact setup before. Three times in the last ten years.
Look at the chart carefully. Price bounced from 60,000 but we are still trading BELOW MA7 at 79,279. That is not a bull run. That is a dead cat bounce until proven otherwise.
The real test is coming in the next few candles. If BTC cannot close above 79,279 on the 3 day chart the next stop is 74,000 where MA25 is waiting. And if that breaks we go back to test 60,000 again.
67 percent of the order book is sellers right now. Whales are not buying this move. They are selling into your excitement.
I am not saying do not buy. I am saying do not chase. The patient trader waits for 79,279 to flip into support before adding size. One confirmation candle can save you from a 20 percent loss.
The people who survive long term in this market are not the smartest. They are the most patient.
Key levels right now. Resistance 79,279. Make or break level 74,000. Safe entry only above 80,000 confirmed close.
Are you buying this move or waiting for confirmation. Tell me below.
Not financial advice. Do your own research.
#BTC #Bitcoin #BinanceSquare