Experiencing a temporary downturn in the crypto market?
During periods of short-term decline in the crypto market, maintaining composure is key.
Let's conduct a thorough analysis together. Using $BTC as our focal point, we observe a challenging market trend with uncertain support levels in the hourly cycle. However, there's no need for alarm. By transitioning to a 4-hour or daily K-line cycle, we can unveil critical support levels. Why is this significant? Allow me to elucidate:
1️⃣ Protecting profits from short positions or gradually capitalizing on gains.
2️⃣ Strategically positioning long orders to seize potential opportunities.
Mastering the concept of support and resistance lays the foundation for successful trading endeavors. For $BTC, plausible support levels may manifest around 68000, 67500, or 67000. Let's remain informed and astute as we navigate these market fluctuations together.
