Post
Topic
Board Trading Discussion
Re: BTC falls below $92 in the last 24 hours
by
Mpamaegbu
on 19/01/2025, 05:09:44 UTC
BTC falls below $92 with altcoins on a downtrend in the last 24 hours, is it a good advantage for traders?
Yes, it's an advantage to investors and hodlers (not traders). Whether it falls or rises, it doesn't affect traders. Theirs is to position and be on the part of the immediate Price Action (PA) and make money. The thing is that every dip situation affords (shrewd) investors an opportunity to grab more. Those who are skeptical won't utilize that opportunity. They only wish price drops but when it drops they won't buy. BTC is back above the resistance level now at $104k+.

Until Bitcoin gets into the $150k – $200k range, I won't even consider any dip as a bearish signal. I will see it as a correction and cool off moment.