With the BTC weekly candle close, we can clearly see a range, so it could be choppy inside of the range. We need to wait and see which direction is right. đ
BTC broke the downward-sloping trendline with the help of the support zone. Now, it looks like a retest. It's possible for one more move towards the upside if the line holds the retest.
The whole point of being around the crypto market as an investor is to invest at the right time for higher profit margins. But only the knowledge of one booming cryptocurrency to invest in is not enough to generate phenomenal profits. It is important to statically predict the short and long positions depending on the circumstances. Otherwise, you might end up stuck in various positions selected randomly and might lose all your capital.
Market is highly volatile so use proper risk management. In the risk Management one of the main part is "Exit Strategies" Here are best Crypto Exit Strategy that covers how to generate higher profit.
đ 1 Price-based Exit strategy đ 2 Gradual exit Strategy đ 3 Return-based Exit Strategy đ 4 Opportunity-driven Position Exit Strategy đ 5 Cycle Exit Strategy đ 6 The need for Crypto Exit Strategy
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After breaking the downtrend and retesting the uptrend line, BTC is slowly retracting to the downside. We can observe BTC forming a falling wedge, which is a bullish pattern. The main key support level is at 60K. If it holds this level, we can hope for a breakout of the falling wedge to the upside.
However, â ïž if it breaks to the downside, we will likely see a continuation to the next support zone of 50K.đ
Because of Dom Market is not good, so focus on Safe Trades, and do not loose your capital. Patience is key in trading. đž