Bitcoin (BTC) has experienced a significant price drop of $1,000 in the past 24 hours, causing a market-wide downturn. The overall market cap has decreased by around 6.6%. The decline may be due to Fear, Uncertainty, and Doubt (FUD) in the market. There is a possibility of BTC dropping further to the range of $25,100 to $24,750, presenting a scalping opportunity. Traders should exercise caution, implement risk management strategies, and monitor the market closely.
#BTC/USDT
🎯Targets: |> 26100 |> 26700 |> 27500 |> 28000
🔴Stop-loss: closing under 24350 with 1D candle
➡️Recommended risk: 0.25%
Trade closed manually
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Comment
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#Bitcoin the price action of bitcoin is kinda bearish and I see that it's risky to hold a long trade in this situation as long as bulls are not able to create a good stability above 25900.
so, I will close this long trade at entry point without losses and will open a short trade from the current prices, targets should be:
➡️24750 ➡️ 23700 ➡️ 22500
recommended total position is no more that 1.5% to 3% from your total balance.