Hello dear traders!
In the current context of BTCUSD, the three-day consecutive downtrend is a notable development. The cryptocurrency's steady trading below the $65,500 resistance and lack of signs of a strong recovery could indicate the potential for further downside in the short term. The preparation for short selling orders when BTCUSD breaks below the support level of $60,818 also reflects caution in investment strategy, to deal with the possibility that the price will continue its downward trend to the $52,000 mark.
Strategically, if you are considering protecting your portfolio or taking advantage of price drops to buy, you should closely monitor market signals and may consider placing a stop loss order to reduce minimize risks. For short-term speculators, monitoring key support and resistance levels will help determine the right time to enter or exit the market.
In the current context of BTCUSD, the three-day consecutive downtrend is a notable development. The cryptocurrency's steady trading below the $65,500 resistance and lack of signs of a strong recovery could indicate the potential for further downside in the short term. The preparation for short selling orders when BTCUSD breaks below the support level of $60,818 also reflects caution in investment strategy, to deal with the possibility that the price will continue its downward trend to the $52,000 mark.
Strategically, if you are considering protecting your portfolio or taking advantage of price drops to buy, you should closely monitor market signals and may consider placing a stop loss order to reduce minimize risks. For short-term speculators, monitoring key support and resistance levels will help determine the right time to enter or exit the market.
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