Just For Your Information (Again I am mentioning that i am not your (all) Financial Advisor
Just read and Gain some Knowledge if possible
(Short-Term Trading Strategy)
1. Bitcoin (BTC)
⢠Price Action: Bitcoin has recently shown consolidation between $26,000 and $28,000, with resistance near $28,500. Short-term volatility suggests a potential breakout.
⢠Key Levels: Support at $26,500, resistance at $28,500.
⢠Strategy: Traders can consider short-term long positions if BTC breaks above $28,500 with a target of $30,000, or go short if it breaks below $26,500 with a target around $25,000.
⢠News/Events: Any upcoming Federal Reserve announcements or macroeconomic news can impact BTCâs movement, so monitor closely.
2. Ethereum (ETH)
⢠Price Action: Ethereum has been struggling to break the $1,800 resistance, maintaining a range between $1,600 and $1,800.
⢠Key Levels: Immediate support at $1,650 and resistance at $1,800.
⢠Strategy: Look for a long position above $1,800 with a target of $1,900-$2,000. Conversely, if it breaks below $1,650, short positions can be considered targeting $1,550.
⢠News/Events: Watch for updates regarding ETH 2.0 developments or any regulatory news that could impact market sentiment.
3. BNB (Binance Coin)
⢠Price Action: BNB has been under pressure due to regulatory scrutiny on Binance. The price is currently hovering around $210-$230.
⢠Key Levels: Support at $210, resistance at $240.
⢠Strategy: Cautious long positions if BNB can break above $240 with a stop at $230. Short if it falls below $210 with a target of $190.
⢠News/Events: Monitor ongoing legal/regulatory developments related to Binance, as they have a direct impact on BNBâs price.
General Trading Recommendations
1. Risk Management: Use tight stop-losses, especially in the current volatile environment.
2. News Monitoring: Keep an eye on macroeconomic news, particularly for Bitcoin. Ethereum-specific news can also have a ripple effect on the broader crypto market.
3. Short-Term Focus: Given market uncertainty, prioritize short-term trades over long-term holds.
