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Is the $BTC Market Overbought? Time for a Correction or Hedge?
Are we at a critical juncture where $BTC has reached overbought territory? If you feel a correction is near or you're looking to hedge your long positions, this could be the right time to consider shorting $BTC.
The key level to watch is $108,353—if $BTC reaches this price, it will invalidate the current analysis. Therefore, you can use this level as your stop-loss point to manage risk. As long as the price stays below this level, the target range for a potential correction is between $90,115 and $87,207. This range could serve as your take-profit area.
What’s Next for $BTC?
Keep a close eye on market movements, as this critical juncture could provide opportunities for strategic trades. Make sure to adjust your positions accordingly, and always prioritize risk management. Wishing you the best of luck with your trades!
#BTCAtCriticalJuncture #MarketCorrection #BTCStrategy
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