Advice on Bitcoin’s Current Price Levels
Bitcoin has been consolidating between 88,888, 99,999, and 111,111 for the past two months, presenting critical levels to watch. Here’s my analysis to help guide your trading decisions:
1. Key Support at 99,999: If Bitcoin holds above this level, we could see a short-term bounce. However, if this support breaks, a move toward 88,888 is likely.
2. Strong Support at 88,888: This is the lower boundary of the range. A breakdown below this level could lead to further downside, so plan your trades carefully around this area.
3. Potential Wick to 111,111: Bitcoin might dip sharply to this level as part of a liquidity grab before reversing higher. Be prepared for volatility and look for buying opportunities if this happens.
Until Bitcoin breaks out of this range decisively, focus on disciplined risk management and avoid over-leveraging your positions. Patience will be key in navigating this phase.
