Bitcoin Trade Idea: Navigating Volatility
Bitcoin has been on a rollercoaster ride over the past few months. After reaching a high of $71,997 on July 30, it plunged to $49,000 by August 3. However, it recovered to $66,498 by September 29. Recently, the inflow of -5,882 orders over the last five days indicates selling pressure, with a recent low of $58,946 on October 6. Currently trading at $62,846, Bitcoin is showing signs of weakness again and could soon hit the $57,000 to $56,500 range.
Traders should be cautious and consider these levels when planning their next move, as volatility remains high.
