If you have invested in 🪙Bitcoin and are still holding onto it, it is wise to prepare for a potential loss as the price has been fluctuating within a narrow range of $42 to $45 for the past four weeks. If the price drops below 💵$40k, it is highly probable that the market will take a sharp downturn and retest the $35k mark. To reduce your risk exposure, it is advised that you only use 10% to 20%🛍 of your capital to trade and avoid trading with your entire investment.
In our previous post, we shared some essential guidelines on trading, which you can check out if you are a beginner. Currently, there are solid indications that we have entered a bearish cycle, and the resistance zone seems to be saturated at $42k. In the coming days, it is unlikely that the price will break this region but will instead decline.
Please follow our account to stay informed about Bitcoin's price movements and trading strategies. Feel free to drop any comments or questions in the comment section, and we will address them promptly.
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