15.05.23 - 21.05.23

Last week results

Instruments:

Despite its decline during the last week, Bitcoin has maintained an upward trend throughout this year. An attempt to break through the three-month low on the coin was noted. A breakout would mean a continued decline in the cryptocurrency and the creation of a new medium-term range of fluctuations.

▶️ A pause in the work of Binance brought down the crypto market

▶️ Tether Reports $1.48B Profit in Q1 2023

▶️Binance NFT to Add Support for Bitcoin-based Digital Collectibles

These week’s key events

▶️ A pause in the work of Binance brought down the crypto market

▶️ Tether Reports $1.48B Profit in Q1 2023

▶️Binance NFT to Add Support for Bitcoin-based Digital Collectibles

📈 BTC - walking downstairs

💡 3 reasons to trade BTC now:

🔹 Breakdown of an important support level.

🔹 The market is falling faster than it is rising. This means that profits can be made faster.

🔹 Keep in mind the rarity of bitcoin as its supply limit is only 21 million coins, most of which have already been mined.

🔹Technical analysis: The sideway channel is accompanied by a large number of false breakouts, so to work on the breakout, you need to work or place orders further. Or trade inside the channel with the ability to keep an open deal if the price continues to move.

Long Strategy: Open a buy trade when the price rises to $28,500. Set a Stop Loss at $27,500 and a Take Profit at $30,000.

Short Strategy: Open a trade if the price rises to $27,700 and create a reversal pattern. Place a Stop Loss at $28,450 and a Take Profit at $26,300.

❗️ Use this opportunity to make the right decision.

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