BTCUSD: Preparing Positional Long Entry

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Since our last post, the BTCUSD market went through a corrective phase that brought the price to the mid20k level, the lowest price since the onset of the price discovery phase when the prior ATH was left behind with a bang. It is an exceptionally well-behaved market despite the turmoil that many other DeFi projects incl. stable coins have been going through. It seems reasonable to be looking for opportunities to add to long exposure in this market as the risk/reward is becoming more attractive.

Key events/levels to look for clues:

  • 25k bottom retest;

  • 25k bottom retest +break = 7.5k extension lower;

  • 17.5k - 22.5k as a major bottom.

INDEX:BTCUSD is at a very pivotal moment and opportunities always come with risk, do manage the risk accordingly.

Staying tuned for further tells.

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