Judging from current market conditions, Bitcoin appears to be consolidating in this area to accumulate more liquidity at lower prices. According to data from Coin Glass, there was no significant increase in market liquidity until $53,000. Therefore, it is reasonable to speculate that Bitcoin may stay here for a while, consolidate for a period of time, and then possibly test lower again.
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Next, let’s get back to the point. We conducted an in-depth analysis of the current chart about a week ago and have been tracking its movements. Facts have proved that our analysis direction is correct. Now, we can see on the chart that Bitcoin has hit our first entry point and is establishing a foothold at this support level.
In our judgment, Bitcoin is likely to consolidate here for a period of time to consolidate its support levels. However, after consolidating, it may dip lower again in search of the next support point. We have listed for you the possible next support levels for Bitcoin:
$55,000 $51,000
Here, I would like to share with you our investment strategy. At the $57,500 area, we have entered the market with a 40% position. Next, if the price of Bitcoin continues to drop to the next entry point we set, we will increase our position according to the following proportion:
At $55,000, buy 40% of the position. At $53,500, buy 20% of the position.
After completing the position increase, we will patiently wait for the market to rebound. We believe that as the market gradually recovers, the price of Bitcoin is expected to see a surge, and may even exceed the $70,000 mark. Of course, we will inform you of the specific selling points in time based on market conditions.
In the current bull market, you don’t have a direction yet. You are still cutting meat all day long, buying and selling, why not just nod your head and pay attention to the same boat together, and we will take you to the forefront of the bull market for free.
