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$HMSTR My friend had a lot of expectations from the HMSTR, but when the HMSTR was launched, see how my friend's mood got spoiled after that, because he started seeing big dreams.
Here’s a short strategy for BTC if it rises to the $69-71k range and you expect a significant dump afterward:
### 1. **Identify Key Resistance Levels**
- Set resistance near the $70-71k range.
- Use technical indicators like Fibonacci retracement, moving averages, or prior price action to confirm resistance.
### 2. **Plan the Entry**
- **Entry Point:** Place your short position close to $70-71k, with confirmation from candlestick patterns (e.g., shooting star or bearish engulfing) or momentum indicators like RSI or MACD showing overbought signals.
### 3. **Use Stop-Loss**
- Set a tight **stop-loss** above key resistance (e.g., around $72k). This helps protect you from a sudden continuation of the bullish trend.
### 4. **Profit Target**
- Consider key support levels for take-profit zones. Based on historical data:
- First target: $65k (psychological support).
- Second target: $60k (round-number support).
- Final target: $50-55k range if the dump is significant.
### 5. **Risk Management**
- Limit your exposure to a small portion of your capital, ideally no more than 1-2% of your portfolio per trade.
- Use a trailing stop to lock in profits if the price falls faster than expected.
### 6. **Monitor News and Market Sentiment**
- Stay updated on major events or market news that could impact Bitcoin’s price, such as ETF approvals, regulation changes, or large institutional movements. These could influence the timing or size of the expected dump.
#btc $BTC
### 1. **Identify Key Resistance Levels**
- Set resistance near the $70-71k range.
- Use technical indicators like Fibonacci retracement, moving averages, or prior price action to confirm resistance.
### 2. **Plan the Entry**
- **Entry Point:** Place your short position close to $70-71k, with confirmation from candlestick patterns (e.g., shooting star or bearish engulfing) or momentum indicators like RSI or MACD showing overbought signals.
### 3. **Use Stop-Loss**
- Set a tight **stop-loss** above key resistance (e.g., around $72k). This helps protect you from a sudden continuation of the bullish trend.
### 4. **Profit Target**
- Consider key support levels for take-profit zones. Based on historical data:
- First target: $65k (psychological support).
- Second target: $60k (round-number support).
- Final target: $50-55k range if the dump is significant.
### 5. **Risk Management**
- Limit your exposure to a small portion of your capital, ideally no more than 1-2% of your portfolio per trade.
- Use a trailing stop to lock in profits if the price falls faster than expected.
### 6. **Monitor News and Market Sentiment**
- Stay updated on major events or market news that could impact Bitcoin’s price, such as ETF approvals, regulation changes, or large institutional movements. These could influence the timing or size of the expected dump.
#btc $BTC
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