Bitcoin recently hit a significant resistance level, reaching a new high. However, due to potential market manipulation, it’s advisable to proceed cautiously.
Current Market Outlook:
Short-Term: Expect a possible pullback to around $70,400 before a potential upward move.
Long-Term: The trend remains bullish, though short-term volatility is anticipated.
Trading Strategy:
Wait for a Dip: Consider waiting for a dip near $70,400 before opening new long positions.
Risk Management: Use strict stop-loss orders to manage downside risks.
Conclusion: While Bitcoin has shown strength, caution is key. Avoid impulsive trades and wait for optimal entry points. A disciplined approach can help maximize returns while managing risk.
Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Please do your own research before making investment decisions.
