Post
Topic
Board Speculation
Re: Interesting BTC move.
by
Fara Chan
on 03/07/2024, 10:30:50 UTC
This move confirms that the market makers were trying to shake people out prior to this pump. It also confirms that a local bottom has been formed at around 60k which implies that buying around that price should be low risk as downside might be limited for the short term.

As a result of this, I can definitely see a big possibility of BTC going to 75k+ but as I mentioned, regardless of how confident we are about price targets and no matter what, it is always important to manage risk and have enough room to buy potential dips because anything is still possible at this point.
The lowest point you mentioned is not bad at all if it is used by everyone in terms of buying Bitcoin, because if we remember the potential for the price to increase to more than $75K, we will certainly have higher enthusiasm to buy Bitcoin around the $60K area. And regarding risk, it has become a very common thing to think carefully about everything and not just when buying Bitcoin. So I think this doesn't need to be a scary thing for everyone as long as every buyer can survive correction conditions, the point of which is not to sell when market conditions are deteriorating.