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For today, the intraday BTC is showing adjustments within a 2-hour timeframe. The buy range is between 77500-77086.
To break it down further, there are support levels below 77500 at 77285/77086, so as long as 77000 holds, any short-term buys between 77500-77086 can yield immediate profits within the next 12 hours. If it breaks, we’ll look to re-enter at the support levels below 77000, specifically 76600-76350. The 76400 level is the 1-day EMA7, and we’re still quite a distance from that, so it's unlikely we'll hit it today. Regarding long positions with a strong liquidation distance, for example, if I'm liquidated at 67000, I’d only scale down by 10% at 75700 for protection. If we get to 76666-76455, I’ll add back. If 75700 breaks, I’ll offload the added position. (The 0.618 level of the 79444-73669 swing is at 75850, so 75750 is strong support below 76400).
After a big spike, we don't immediately look for new highs; we’re playing for small rebounds near each support level. So today, let’s not be greedy. For ultra-short buys, we’ll take profits between 77850-78125-78400 and leave some for trailing stops. If we break 78500, we can add at market price (this would be right-side trading with the trend), and then we’ll look for new highs.
To break it down further, there are support levels below 77500 at 77285/77086, so as long as 77000 holds, any short-term buys between 77500-77086 can yield immediate profits within the next 12 hours. If it breaks, we’ll look to re-enter at the support levels below 77000, specifically 76600-76350. The 76400 level is the 1-day EMA7, and we’re still quite a distance from that, so it's unlikely we'll hit it today. Regarding long positions with a strong liquidation distance, for example, if I'm liquidated at 67000, I’d only scale down by 10% at 75700 for protection. If we get to 76666-76455, I’ll add back. If 75700 breaks, I’ll offload the added position. (The 0.618 level of the 79444-73669 swing is at 75850, so 75750 is strong support below 76400).
After a big spike, we don't immediately look for new highs; we’re playing for small rebounds near each support level. So today, let’s not be greedy. For ultra-short buys, we’ll take profits between 77850-78125-78400 and leave some for trailing stops. If we break 78500, we can add at market price (this would be right-side trading with the trend), and then we’ll look for new highs.