REVIEW BITCOIN GLOBAL
There are two global support zones: $67k - $73k zone and $87k - $89k zone. I don't really see a point to dive right into $70k, as there were "only" $1.2b of longs liquidations in the last 24 hours - that's not much! People lost a ton of money during February, and they are desperately waiting for a bear market to start, because this way they won't look stupid.
Moreover, I've seen a lot of bears bragging in Twitter like "oh don't you short the long-lasted $90k support duh" and this sentiment is all over the place. I see the fakeout of $87k level as a resolution: bears will get even more horny and add fuel for future bounce.
I wouldn't try to catch the knife though, best plan is:
1️⃣ Watch $BTC dip under $87k
2️⃣ Wait for a bounce and at least 4h candle closure above $87k (or even above $89k)
3️⃣ Go long with a tight stop loss and $95k target ($102k target as a bonus)
☠️ And if I'm wrong and $BTC never bounces there... Well, $70k is always there to bid!
There are two global support zones: $67k - $73k zone and $87k - $89k zone. I don't really see a point to dive right into $70k, as there were "only" $1.2b of longs liquidations in the last 24 hours - that's not much! People lost a ton of money during February, and they are desperately waiting for a bear market to start, because this way they won't look stupid.
Moreover, I've seen a lot of bears bragging in Twitter like "oh don't you short the long-lasted $90k support duh" and this sentiment is all over the place. I see the fakeout of $87k level as a resolution: bears will get even more horny and add fuel for future bounce.
I wouldn't try to catch the knife though, best plan is:
1️⃣ Watch $BTC dip under $87k
2️⃣ Wait for a bounce and at least 4h candle closure above $87k (or even above $89k)
3️⃣ Go long with a tight stop loss and $95k target ($102k target as a bonus)
☠️ And if I'm wrong and $BTC never bounces there... Well, $70k is always there to bid!
