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🌟💥🚨Bitcoin Broke Resistance, Rally ensues... As highlighted yesterday, macro liquidation at 76k suggests a break local range would incentivize the price to sweep that level. However, this doesn't just mean you FOMO In. There are strategies that work best for situations like these...
First / most appropriate strategy is to wait for a bullish back test of psychological resistance level at $70,000. If Bitcoin maintains above this level (volume / open interest remains high) for 24 hours, its likely going higher.
If you don't want to miss the boat. you can average in, buying now and little bits as the price goes lower. The alternative / more risky strategy is to short sell, as Bitcoin is currently overextended. However, this approach carries a lot more risk because Bitcoin's volume is high and the flood gates are tentatively open.
Whichever route you take, use good risk management. Always set a SL and trailing Take Profit.
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