BAKEUSDT: Patience is keySo far I haven’t seen any reason to sell if your holding. The 6.3 support generally seems like a good support for price action to bounce off of but for ME there’s one small problem. This might not be a problem with other traders but it is for me. Although price action is hanging around the horizontal line of support, it has managed to close below it. Although that didn’t trigger any sell offs which indicates that my support is still valid, I want a clean support. One without any rough edges. So I’m gonna use the 50 SMA below as my new area of support. If you wanna trade this I’ll advice to place your stop loss below the 50 SMA and wait till the price action gets close enough to the SMA that if you get stopped out the loss will be little and for those hodling or trading spot, I’ll give you the same advice you may have heard elsewhere... BUY THE DIP
