🟢 When to Be Concerned About Bitcoin in the Short Term
BTCUSD has surged significantly since the summer of 2024, and the bullish cycle is expected to last at least until the summer of 2025. This means that in the medium to long term, fluctuations shouldn't be a major concern.
However, if you're trading Bitcoin or waiting for a chance to buy at a lower price, it's worth paying attention to the levels mentioned in this article
✅ What pattern is unfolding in Bitcoin?
At the moment, there isn't a defined pattern like the ones I usually show, so I won't provide entry and exit prices as I typically do.
However, it's important to understand that the current price movement makes BTC a neutral market in the short term. We need to keep an eye on the lower blue line and the area marked as last support (blue rectangle).
These zones could be ideal for buying Bitcoin, as the price shouldn't fall below these levels if the bullish trend continues.
However, a head and shoulders pattern might be developing, so it's crucial to monitor the price movement in the coming days to see if it breaks the blue support line.
💰 How to trade this chart pattern?
You can either buy near the lowest blue line or sell looking for a fast decline if the head and shoulders is confirmed.
🛡️ The risk management strategy
As we have done in so many previous ideas, remember you can split the position in 2.
- 50% of the position in a take profits, at least, as large as your stop loss (adapt SL and this 1st TP to local supports/resistance levels). In this case, a 3% TP for 2% SL.
- 50% of the position to a price as large as the previous pattern, which would mean a profit of 7% to 15%.
✴️ ENJOY AND FOLLOW for more 😊
交易進行
The support area is working well and has provided the opportunity to make profits as expected. Be cautious if the blue line breaks down, as it may indicate a larger correction.