As mentioned in the DCA levels provided earlier, Bitcoin reached $63,850 before reversing. We expect it to drop to $58,000 within the next 48 hours. However, due to today's unexpected surge, if Bitcoin closes above $63,200, it could continue rallying to $64,300 and $65,800.đš
For those who averaged in at the suggested DCA levels, you might currently be at break-even or experiencing a 2-4% loss. If you're nearing liquidation, you may want to consider closing your position. We're holding ours, as our liquidation point is at $79,000, and we're confident this fakeout wonât last long. Bitcoin is expected to drop back to $58,000-$55,000, so stay prepared.đ„ #DODOEmpowersMemeIssuance #BTCReboundsAfterFOMC #NeiroOnBinance #BinanceLaunchpoolCATI #FTXSolanaRedemption
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DCA Opportunity Above 63700 - 63850 Its a Bull Trap!! đ
No matter how high Bitcoin goes, keep shorting it and averaging, but keep your liquidation above $75K at the very least. Short with full confidence; Bitcoin will drop before today's close, and there's a 95% chance today's daily candle will be red. đđšđš
Sell Range: âą Now or above 61200 - 62800 â ïž (SELL IN PARTS ONLY) â ïž
Targets: 59799, 59450, 58850, 57900, 56500, 55940
SL â ïž: Daily Candle closes above 61800; would take btc towards 64K - 65K region!
Manage Your Risk đ„
Only Short #Bitcoin at given level; otherwise, avoid this trade. This trade is highly risky đđ», so those without experience or who want to avoid losses should stay away! Dont gamble.
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Bitcoin has just closed today's daily candle below the resistance level $61,800 level, signaling potential weakness in the market. With this drop, I'm anticipating a major downward move ahead! đ The 19th September 2024 candle is likely to close in the red as sellers gain control. đ»
Stay cautious and watch the charts closely. More volatility may be on the way â buckle up! đđ„
Sell Range: âą Now or above 61200 - 62800 â ïž (SELL IN PARTS ONLY) â ïž
Targets: 59799, 59450, 58850, 57900, 56500, 55940
SL â ïž: Daily Candle closes above 61800; would take btc towards 64K - 65K region!
Manage Your Risk đ„
Only Short #Bitcoin at given level; otherwise, avoid this trade. This trade is highly risky đđ», so those without experience or who want to avoid losses should stay away! Dont gamble.
âŒïž FOMC UPDATE âŒïž âą The Federal Reserve has reduced interest rates by 50 basis points, bringing the rate to 4.75%. âą This cut was larger than anticipated, as many predicted a 25 basis point reduction. âą While further cuts are expected, they are likely to be smaller in scale. âą The decision reflects easing inflation and a more balanced economic outlook. âą The next policy update is scheduled for November.
Tomorrow is the Fed meeting where the rate cut will be discussed. If the cut exceeds 25 bps, we expect BTC to potentially rise to a maximum of $65K. However, if it's 25 bps or below, we anticipate seeing BTC drop to around $55K or below. đđ„
Tomorrow is the Fed meeting where the rate cut will be discussed. If the cut exceeds 25 bps, we expect BTC to potentially rise to a maximum of $65K. However, if it's 25 bps or below, we anticipate seeing BTC drop to around $55K or below. đđ„
Tomorrow is the Fed meeting where the rate cut will be discussed. If the cut exceeds 25 bps, we expect BTC to potentially rise to a maximum of $65K. However, if it's 25 bps or below, we anticipate seeing BTC drop to around $55K or below. đđ„
Tomorrow is expected to be highly volatile, so avoid shorting BTC. Today's closing was above resistance, and we anticipate a pump in Bitcoin, as mentioned in our weekly update. Bitcoin could reach 61,800, 62,600, and 65,090 only if 8H or 12H candle closed above 100MA. If this happens, I'll be opening short positions at these levels with target of 57700$ - 55800$. đđš
Major $BTC Fakeout and Whatâs Coming Next đ„đš
As we mentioned earlier, our weekly closing fell below key resistance, but despite that, Bitcoin touched $60,500 today after several fakeouts in the daily candles. While this is a clear fakeout, we may still see Bitcoin reach $61,800, $62,600, or even $65,100 before the expected major crash. This could bring $BTC down to $45,400 - $47,800, where we anticipate a bullish reversal wave. đ
Hold Your Short Trades đâïž
If your short positions are still holding and liquidation is distant, donât panic. We believe Bitcoin will drop again, with a likely return to $57K between 15-17 September. This will be an ideal opportunity to exit short trades for a decent profit! đ° Key Precautions â ïž
The market is extremely volatile, so manage your risk carefully: - Keep an eye on Bitcoinâs key levels. đ - Avoid over-leveraging on $BTC . - Use stop losses strategically and stay patient! âł
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Same bias here as in BTC, price OF (Order-Flow) is bearish in it, currently price is also facing marked supply zone, rejection is expected from there and move towards downside will trigger in it. While reclaim resistance here then bias will be invalid.