💰Bitcoin Market Analysis | Can We Profit from the Volatile Market?
✨Current Trend
Bitcoin has been fluctuating between 93000-96000 in recent days, making this market ideal for grid trading or opening both long and short positions.
🚀Key Levels
The area around 95500-96500 is a dense short stop-loss zone, which may first spike to trigger stop-losses, capturing short liquidity and creating a 'false breakout' to entice longs. 88000-89000 is an important support level (0.382 Fibonacci retracement), and it is highly likely that there will be a pullback to test this area before another upward wave occurs. The overall structure resembles the 123 rule.
📌Trading Strategy
✅ Positions can be established for shorts near 95500-96500.
✅ If there is a pullback to test 88500 and holds, long positions can be established.
✅ In a volatile market, one can directly open both long and short positions to profit from both sides.
⚠️⚠️
- Do not blindly chase after price increases or declines; wait for confirmation at key levels before trading.
- Position management is very important! Don't be greedy, brothers!
