#BTC 🚨 (BTC) Update: What Comes Next?
It's happened, Bitcoin has hit a local top at $74k and has already taken a 23% plunge. The daily close wasn't promising, and this is definitely not the time to go long or buy more BTC. My focus is on the 52k zone — it's a critical support level and aligns with the 1-day EMA200.
Historically, 30% pullbacks are common in bull markets. If we stick to this trend, it puts us right at that 52k mark. But here's the thing: everyone and their uncle is expecting to buy at 51k-52k. The market might either front-run that level or smash right through it.
What to do? Where to bid?
For me, I'm keeping my powder dry until I see where this goes. If the dumping continues, I suspect we could wick down to 48k, shaking out all those eager 52k buyers. This is where I'm considering buying coins—right in the sweet spot between 48k and 52k.
But if we don't hit that level and start to bounce back, I'll consider opening fresh long positions once we reclaim the 4-hour EMA200. This could be the signal for the next leg up and also a good time to dive into altcoins.
Remember, patience is key. Keep an eye on the charts, and don't let FOMO guide your decisions. Whether you're waiting for the dip or looking for a rebound, always stick to your strategy. Good luck, and let's see where Bitcoin takes us! 🚀
