Bitcoin (BTC/USD) has witnessed a substantial influx of bullish momentum, resulting in healthy price movements. However, it's crucial to consider the technical perspective. We're approaching a critical juncture, as we venture into the territory where the most significant selling activity transpired during the previous all-time high to low trading zone.
Trading against these formidable sellers is akin to driving straight into a hurricane while hoping for a favorable outcome. Given this challenging terrain, we've decided to exercise caution. We're refraining from opening new swing trades and are instead focusing on reaping profits from our previous month's purchases.
Our strategy is to patiently await a potential bullish retracement into previous high-volume areas, allowing us to acquire positions at a more favorable price point. This is our current game plan, and we're eager to see how the market will unfold. Stay tuned as we navigate these volatile waters.
Trading against these formidable sellers is akin to driving straight into a hurricane while hoping for a favorable outcome. Given this challenging terrain, we've decided to exercise caution. We're refraining from opening new swing trades and are instead focusing on reaping profits from our previous month's purchases.
Our strategy is to patiently await a potential bullish retracement into previous high-volume areas, allowing us to acquire positions at a more favorable price point. This is our current game plan, and we're eager to see how the market will unfold. Stay tuned as we navigate these volatile waters.
Daniel P. Fadejev
