Trade-Journal

DECISION TIME FOR BITCOIN! 17/3/24

Short
BYBIT:BTCUSDT   BTCUSDT SPOT
๐Ÿ“ˆ๐Ÿ’ก The Previous All-Time High of Bitcoin from 2021 remains a critical milestone on our journey. Will we conquer it and close above on both weekly and monthly charts? โณ๐Ÿ“Š In less than 4 hours, the weekly verdict will be in, while just under 2 weeks await the monthly decision. ๐Ÿ“†๐Ÿ” Failing to surpass this level could trigger what I term a "range deflection," leading to a downward rotation within our current range. ๐Ÿ”„๐Ÿ“‰

For bulls who entered at $15k, this moment is pivotalโ€”deciding whether to secure profits. ๐Ÿ’ฐ๐Ÿ’ญ Meanwhile, those who endured the bear market now see green, pondering whether to cash out or aim for the elusive $100k mark. ๐Ÿ‚๐Ÿš€ Newcomers tread cautiously but with optimism, eyeing potential gains. ๐Ÿค”๐Ÿ“ˆ With millions of traders on edge, the stakes couldn't be higher. ๐Ÿ’ผ๐Ÿ’ฅ

A failure to close above, coupled with a bearish shift in market structure on shorter timeframes (4h, daily), might signal a significant retracement for Bitcoin. ๐Ÿ“‰๐Ÿšจ

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