$BTC PUMP TO CONTINUE BUT UNTIL WHEN?
Don't let yesterday's (tuesday, Feb 13) sudden dump fool you. If you observed the chart since Monday, the market went into consolidation after hitting 50k but that was due to the then expected Fed CPI reports which of course led to a sudden drop of BTC to 48.3k.
With the CPI report and it's effects over, the bull run continues as expected. Currently BTC is facing resistance at 51700 area and is expected to dump just a little bit but not as much as we saw yesterday then the PUMP CONTINUES with the same trend all the way to 60K.
At this point, do not open shorts on futures, going long is the way but engage with caution, make sure your liquidation price is below 48k and watch as your PNL rises.
Also, avoid placing stop loss orders or taking leverage above Ă20. AND always take your profits after every 1k price movement.
Here is my sample trade,
Open Long at 51,500k to 51,800k area.
Liquidation price should be below 48k
Stop loss at 50k if you need to.
1st Tp - 52,500
2nd Tp - 53,200
3rd Tp - 53,600
4th Tp - 54,200
5th Tp - 54,600
6th Tp - 55,200
Stop and wait at this point.
This are just my opinion from my own analysis and not professional financial advice. Guys remember to trade safely and ALWAYS TAKE PROFITS BIT BY BIT.
