BITCOIN UPDATE: STILL AT THE RESISTANCE!!!

16 de mar. de 2022

Welcome members, to this important BTC update.

If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.

Let's get back to the chart.

BTC made a big jump up to 41.7k but couldn't hold it for long leaving a shadow behind which honestly isn't a good sign. But is it really that bad?
Here's what I think about this move. Let me know if it makes sense.
Whenever we have shadows from the top, it means there's selling pressure in the market. Currently, BTC is not in a position to get selling pressure. Looks like whales are trying to confuse the noobs cause in a consolidation phase, a long shadow like this, doesn't make any sense.

I am gonna stick with my strategy of accumulating the dip till 35k. BTC pumped & dropped so quickly that I missed a chance to exit the market at 41.7k. But that's ok cause I had my positions on spot.

Let's be extra cautious here and trade carefully.

Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.

I will cover more on this in the coming days until then stay safe and trade well.

Thank you.