Bitcoin Analysis (Mar 13) - Downtrend doesn't seem to end!
There are many signs that the downtrend has not stopped yet. A crisis like this will weaken BTC and take a long time to form a bullish pattern to rally again.
In addition, USDT price is currently very high and it will be a big obstacle for new capital inflows into the market.
The bottom of this downtrend I think will be around 2500-3000$. If you have bought BTC in the high price areas, I think you should apply 1 of these 2 plans :
1️⃣ Allocate your capital into 50% in BTC and 50% in USDT (this part will wait to sell around 6000-7000$)
2️⃣ Divide your BTC amount into 3 parts and sell each part at : 6000 - 6500 - 7000$
Note on the chart :
- The red rectangle area and the RED resistance line are where to sell BTC
- The blue rectangle area is the area to buy BTC
In addition, USDT price is currently very high and it will be a big obstacle for new capital inflows into the market.
The bottom of this downtrend I think will be around 2500-3000$. If you have bought BTC in the high price areas, I think you should apply 1 of these 2 plans :
1️⃣ Allocate your capital into 50% in BTC and 50% in USDT (this part will wait to sell around 6000-7000$)
2️⃣ Divide your BTC amount into 3 parts and sell each part at : 6000 - 6500 - 7000$
Note on the chart :
- The red rectangle area and the RED resistance line are where to sell BTC
- The blue rectangle area is the area to buy BTC
