Consider also other people who are shorting the market recently, for sure a lot of them got liquidated, millions and millions. These bears for sure are still hoping for more dumps and make some profits.
With Bitcoin rejected at $70,000 I believe it will be more volatile starting now, could be a small pullback and break $70,000 this time or it will go back again to $60,000. For me, it's still early, I expect a lot of them to happen on the end of this month.
I agree that you prepared your plans for both up to break $70,000 and down to $60,000 of Bitcoin in coming weeks. It's professional trading plan and it's not like amateur traders who tend to be sure that market will move up or will move down and make their trading plans, open trading positions with either up or down.With Bitcoin rejected at $70,000 I believe it will be more volatile starting now, could be a small pullback and break $70,000 this time or it will go back again to $60,000. For me, it's still early, I expect a lot of them to happen on the end of this month.
They need to have plan B for their tradings, and by having plan B, they will have better risk and capital management too. Because people who don't have plan B will believe that their plan A will certainly work like they expected and will help them getting profit. When plan A broken, they will lose money because non existence of plan B in their trading plans.
With plan A or plan B, always use stop loss order.
One of best weapons in trading.
and I expect price to hit as high as $80k level as other also have predicted, once the shorters got liquidated big time at the level of $70k. it just matters of time until the market do a short squeeze. it always did. just see this liquidation heatmap.
