๐๐ฐ๐ข๐ง๐ ๐๐จ๐ง๐ ๐จ๐ง $๐๐๐: ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐จ๐ฏ๐ ๐
With fear dominating the crypto market, many are hesitant to capitalize on these low prices, expecting further declines in Bitcoin. While itโs possible BTC might drop lower, itโs also essential to recognize the current market dynamics. BTC is sitting at a significant daily support level, and dominance has reached 60%, showing signs of potential lower highs. These indicators align with my broader analysis of BTC dominance.
The Fear Index sits at 54, reflecting heightened uncertainty. Meanwhile, funding rates remain deeply negative, and the RSI levels of most assets are in oversold territoryโa rare phenomenon in an overall bullish market. When everyone else is panicking and selling at these levels, it creates a unique opportunity to consider swing long positions.
Take $TAO , for instance. The token has reached a critical support-resistance level. Election-induced swing lows have been cleared, and the 4H timeframe confirms a bullish high-timeframe (HTF) shiftโproviding a solid basis for entry. Here's how Iโm approaching this:
Entry: $455
Stop Loss: $355 (if a daily close occurs below this level)
Take Profit: $750 (all-time high target)
This strategy is built on the principle of acting contrary to market sentiment: buy when fear prevails and sell when greed dominates. Always remember to manage your risk effectively and approach the market with discipline.
