Quote from: asriloni on Today at 08:09:14 AM

Quote from: Emmanuel_Pounds on August 22, 2024, 07:56:34 PM

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

It seems impossible to go down to that range. We have strong support. But, we might drop to the 60k - 58k range. It's weird if you're opening a long order at 56k. If you believe it's going to happen, why not put in a short order first?

Bitcoin ideally will hit 67k first before it starts to do a reversal trend. I think putting a short order above 67k looks good.

Quote from: Emmanuel_Pounds on August 22, 2024, 07:56:34 PM

I don't know if there will be a reversal to that zone, but am waiting patiently

The reversal is always happening. But, we don't know if it will hit your position.

We do not guarantee that the price of bitcoin will not drop to $56k. The lesson is still there, I remember a few weeks ago when bitcoin was trading above $60k and people were saying that bitcoin had a very strong resistance level that could not fall below $50k. But then Bitcoin dropped to $49kand suddenly spiked back up shortly after.

Personally, I think staying away from leveraged trading is the wisest move right now instead of opening long/short orders and thinking we will make a profit. If you believe history will repeat itself, the bull season is coming, then try not to lose all your money before the bull season comes.