20.03.23 - 26.03.23
Last week results
Instruments:
During this week, Bitcoin has formed a side channel, where the levels of May, June 2022 act as resistance. This is a small correction when the price needs to rest after a sharp rise.
▶️ Bitcoin erases Fed losses as traders eye $40K BTC price target
▶️ FTX debtors agree to $95M sale of stake in Mysten Labs
▶️ Coinbase Suspends Algorand Staking After Wells Notice From SEC
These week’s key events
During this week, Bitcoin has formed a side channel, where the levels of May, June 2022 act as resistance. This is a small correction when the price needs to rest after a sharp rise.
▶️ Bitcoin erases Fed losses as traders eye $40K BTC price target
▶️ FTX debtors agree to $95M sale of stake in Mysten Labs
▶️ Coinbase Suspends Algorand Staking After Wells Notice From SEC
📈 BTC wants to break seiling
Many analysts mention that bitcoin can become a safe crypto, based on the mess that is happening now with crypto companies and stablecoins.
💡 3 reasons to trade BTC now:
🔹 High volatility
🔹 Optimistic forecasts of analysts about the growth of BTC
🔹 A good moment to open a long-term trade, relative to annual highs
BTC:The number of unique addresses holding at least 100 coins.
🔹Technical analysis: For bitcoin, an upward trend prevails for timeframes over 4 hours. It moves precisely through the levels. Trade on the breakdown of levels after the formation of a sideways movement.
Long Strategy: Open a buy trade when the price corrects to the mark of $29,050. Set a Stop Loss at $27,000 and a Take Profit at $31,300.
Short Strategy: Open a trade using if the price hits $27,900. Place a Stop Loss at $29,200 and the Take Profit at $25,400.
❗️ Use this opportunity to make the right decision.
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