$BTC Last night, we tested $82,850 but failed and pulled back; now we're hovering around $81,000. Looking at the 4-hour chart, this bounce seems pretty weak, and the volume isn't following, so I'm leaning towards more consolidation.
Support is at the $80,000 round number; if we break that, we might retest $78,500. Resistance is still at $83,000, and we'll need some volume to break through.
For trading: I recommend holding onto spot positions, but I'm not chasing longs on futures right now. I'll consider a light long position if we pull back to around $80,500, with a stop loss at $79,800. I don't suggest going all in; keep 30% of your capital in reserve for unexpected moves.
Market sentiment is cautious; don't let a spike shake you out. #BTC
Support is at the $80,000 round number; if we break that, we might retest $78,500. Resistance is still at $83,000, and we'll need some volume to break through.
For trading: I recommend holding onto spot positions, but I'm not chasing longs on futures right now. I'll consider a light long position if we pull back to around $80,500, with a stop loss at $79,800. I don't suggest going all in; keep 30% of your capital in reserve for unexpected moves.
Market sentiment is cautious; don't let a spike shake you out. #BTC