Today, December 9, 2024, Bitcoin $BTC is trading at $97,081.41, following a 2.90% drop in the last 24 hours. This decline follows its all-time high of $103,900.47 reached on December 4, which has generated concern among investors.
The recent volatility of Bitcoin is due to factors such as global economic uncertainty and the monetary policies of central banks. It should not be forgotten that as investors assess the impact of inflation and interest rates, many are reconsidering their positions in risk assets, including cryptocurrencies.
Recommendations for Trading in a Bear Market
🔥 Set Stop-Loss: Protect your capital by using stop-loss orders to limit losses. This will allow you to exit a position before losses become significant.
🔥 Short Selling: If you have experience, consider short selling, which involves selling Bitcoin that you do not own with the hope of buying it back at a lower price. However, keep in mind that losses can be unlimited.
🔥 Short-Term Trading: In a bear market, short-term trades can be more effective. To consider:
Price: $97,081.41. The price is below its 7-day Exponential Moving Average (EMA), which suggests a short-term bearish trend.
24h Low: $94,039.7. The presence of a recent low indicates possible selling pressure in the market.
RSI: 16.4. The Relative Strength Index (RSI) is far below the 30 level, indicating an extreme oversold condition. This suggests that the price may be close to a rebound or a reversal of the bearish trend.