Bitcoin Analysis for March and the rest of the 2023 months left.
Hello traders.
I'm new to posting my ideas on this platform. By this time you should know about the risks involved in trading cryptocurrencies. Without wasting anytime let's talk about Bitcoin.
All the Economic data coming out from US or whatever country you're from is very sad. Inflation rates are very high and eventually this will be bad for the crypto market as well.
From past few days we are seeing candles closing above 20k. What I believe is that there will be a further dump in Bitcoin prices. Why? Because there are many stop limit orders and a huge ton of liquidity sitting at 18k - 20k price range.
Once the price taps the above mentioned zone of 18k-20k (which is my point of interest) the candles printing will show us what they want to show. I'll be waiting for some sort of confirmation and if my confirmation is validated I'll place a long order and will take my profit at around 25k. Till then I'll just observe the market. I'm using binance futures contract for executing my trade positions.
This will be my trade action plan. Right now I'm expecting Bitcoin price to dump. Short trades for now can be fruitful but I'm avoiding because of the long imbalance created by btc candles yesterday.
I'm new to posting my ideas on this platform. By this time you should know about the risks involved in trading cryptocurrencies. Without wasting anytime let's talk about Bitcoin.
All the Economic data coming out from US or whatever country you're from is very sad. Inflation rates are very high and eventually this will be bad for the crypto market as well.
From past few days we are seeing candles closing above 20k. What I believe is that there will be a further dump in Bitcoin prices. Why? Because there are many stop limit orders and a huge ton of liquidity sitting at 18k - 20k price range.
Once the price taps the above mentioned zone of 18k-20k (which is my point of interest) the candles printing will show us what they want to show. I'll be waiting for some sort of confirmation and if my confirmation is validated I'll place a long order and will take my profit at around 25k. Till then I'll just observe the market. I'm using binance futures contract for executing my trade positions.
This will be my trade action plan. Right now I'm expecting Bitcoin price to dump. Short trades for now can be fruitful but I'm avoiding because of the long imbalance created by btc candles yesterday.
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