$BTC : Is it a necessary shake-up or a trend change? đđ¤
ââMarket update - March 18:
The price has just taught us a lesson in volatility. After reaching a daily high of $74,533, Bitcoin has sharply retraced to $72,269. This drop of -2.26% in the last hours has cleared much of the excessive leverage we saw in the morning.
âWhat TradingView tells us:
âCritical Support: $71,800 is now the red line. If we lose this level with a 4H candle, we could quickly visit $69,500.
âResistance: The $74,000 level has become a heavy supply zone. We need to consolidate above to seek new highs.
âThe Fact: Selling volume spiked dramatically around noon, indicating profit-taking by whales. đđ°
âStrategy:
Don't be carried away by panic. Corrections of 2-3% are healthy in a macro uptrend. My focus is to observe the reaction at the $72k support.
âEntry: If it bounces strongly at $72,200.
âSL: $71,400.
âTarget: Return to $74,500.
â"The tape feels heavy, but the daily structure remains intact". đĄď¸đ
âIs this the dip to buy or do you think we're going back to the $60ks? Comment below. đ
#SECClarifiesCryptoClassification #BTCâď¸ #Bitcoinâ
ââMarket update - March 18:
The price has just taught us a lesson in volatility. After reaching a daily high of $74,533, Bitcoin has sharply retraced to $72,269. This drop of -2.26% in the last hours has cleared much of the excessive leverage we saw in the morning.
âWhat TradingView tells us:
âCritical Support: $71,800 is now the red line. If we lose this level with a 4H candle, we could quickly visit $69,500.
âResistance: The $74,000 level has become a heavy supply zone. We need to consolidate above to seek new highs.
âThe Fact: Selling volume spiked dramatically around noon, indicating profit-taking by whales. đđ°
âStrategy:
Don't be carried away by panic. Corrections of 2-3% are healthy in a macro uptrend. My focus is to observe the reaction at the $72k support.
âEntry: If it bounces strongly at $72,200.
âSL: $71,400.
âTarget: Return to $74,500.
â"The tape feels heavy, but the daily structure remains intact". đĄď¸đ
âIs this the dip to buy or do you think we're going back to the $60ks? Comment below. đ
#SECClarifiesCryptoClassification #BTCâď¸ #Bitcoinâ