Hello guys,
today i will explain you one of my trades and my thinking about the crypto market.
I`m watching the range between 37574$ and 35541$ for a weekly swing trade opportunity. I keep my stop loss very tight in these volatile days. It is end of the month and the max pain price for january options for bitcoin laying around 41,5-42,5k $. So we will see if the market makers are going to do their job. If not i will watch the mid level/tp1 (between 35260$ and 35541$) and take off half of my position on this level. Watch the price action on the mid level and if we break below there is a high chance that we can take out the low at tp2 level (33040$)
I think we will see 20-24k levels for bitcoin in the next few months.
What is your thought about crypto at the moment? Do you think we will trend down in a bear market or do you think we will continue to hold the 30-33k level and bounce off hard?
Thanks for reading:)
Snaqz
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The trade hit my stop loss. When you trade it is very important to manage the risk correctly. For my part i only trade with 10% of my account and DCA into positions and out of positions. Currently im nearly everywhere in stablecoins, besides some nfts and defi farming.