Finally some movement $BTC

18 sie 2023

Chart Analysis: BTCUSD INJUSDT
The Bitcoin market shows signs of stirring from its slumber! As anticipated in our preceding commentaries, BTC is making its way towards the 18k zone. However, the strength to break through significant resistance points eluded it, just as we discussed in our earlier videos. Notably, there has been an adjustment in our projection of the massive cup and handle pattern. The recent trend line breach on the weekly chart likely invalidates this pattern.

A confirmation of a double top pattern is evident. Following this, BTC retested the newly established resistance and took the downward trajectory, just as predicted.

So, what lies ahead for Bitcoin? The forecast suggests a few more sluggish days of price oscillations, potentially culminating in a liquidation sweep or a retest of the longstanding trend line. Should this play out, it presents an opportune moment to initiate a short position and ride the price down towards the 18k area (though this target may shift as we approach it). It's essential to note that now isn't the ideal time to short; the current position is too extended from the EMA. It's wise to await a retracement.

Risk Management:
Navigating the volatile crypto market necessitates meticulous risk management. As you consider potential positions, align your size and strategy with your risk tolerance. Tools like trailing stop losses can be invaluable in preserving accumulated profits as the market evolves in your favor.

Disclaimer:
Please remember, this analysis is shared for educational insights and is not a financial recommendation. We urge you to conduct your own comprehensive research and, if needed, seek advice from a financial consultant before making any trading decisions. Trade safe!