The $BTC rising channel that lasted for 3 months has broken down. As I mentioned on the 30th, a breakdown would trigger a waterfall drop of ten thousand points. Therefore, while looking for a rebound within the channel, it's crucial to manage your position size. The downside structure aligns with a 1:1 flagpole target and the major Fibonacci level at 0.618. Once it hits that point, continue to add to your position, aiming for at least double the initial entry size.
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The brutal drop from over 80k on May 4, $BTC 5 has now played out. Be cautious with your spot buys on the left side; position sizing is key. If we break the channel, we're looking at a potential waterfall of thousands. Of course, we can't predict a break just because it hasn't happened yet. I recommend keeping your spot position at 10-20%. If it does break, there's no need to panic. For contracts, you can use the strategy section on the homepage and enter based on the signals on the right side.