Bitcoin is hanging out in a key demand zone right now, and how it behaves here could really set the tone for its next big move. If it breaks below this support level, we could see further drops, but if it manages to hold up, we might get a relief bounce up towards the mid-range resistance. A solid break above that resistance is what we’d need to start thinking about higher targets.
The liquidity zone around $86K is still a tough nut to crack. If BTC gets pushed back hard there, we could see it drop down to the $72K-$74K liquidity zones, where the bulls might try to make a comeback.
Until we see the market pick a clear path, it’s all about staying patient and managing risk wisely.
Here are some strategies I stick to when things get like this:
1. Keeping some stablecoins in reserve for if there’s a good dip-buying chance.
2. Checking out on-chain opportunities on DEXs and big exchanges like OKX and Bitget.
3. Steering clear of leveraged trading, since volatility can wreck your account in no time.
The current level of bitcoin is looking really strong which may be the reason price have refused to stay below $86,000. That is to say we have a strong demand zone there and it is my expectation that it will be able to hold price for a rally to retest the significant number of $100,000. When price gets to that level, then there is the possibility of going higher or further decline to $74,000. We must be ready to embrace the market as it unfolds because no one can boldly tell what the market will do the next minute.
According to Coinglass aggregator like two days ago there is a very big long liquidation above $90k which means an inducement is definitely around there, technically after this consolidation I expect bitcoin to actually go for that region fill it up and take out the liquidity there and then begin to head down as I still believe that the seller are still much in control. The $75k region is definitely just a matter of time because to me its also the liquidity left there after the April or may pump that the market is chasing after.
But one thing is all this TA do not mean anything as long as there is no clear fundamental analysis. Because fundamentals can simply change all of this.
My counter suggestion is
1. Instead of keeping stable coins down without a clear indication of the market simply just do DCA and buy more when there is a good low.
2. Avoid anything Defi for now, I see ICO hype coming on once more dont throw your funds into buying those Altcoins for even holding to gain any APY for exchanges its way way risky most especially at this volatile period of the market.
3. I completely agree with you, leverage trading should be avoided at all cost at the moment or simply apply tight stop loss if you still care to trade
Yeah, DCA has always been the plan and having to smart-trade trending new tokens with strict risk management to also benefit from exchanges' incentives is a no-brainer at a time like this.