Token Metrics Trade Updates

👀 BTC BRIEF UPDATE Unfortunately, Bitcoin got rejected from the $63,300 (local) resistance once again. Bulls are showing weakness. Chances of ascending support breakdown are increasing.

👀 BTC UPDATE The chart this week is quite simple. There are two resistances: $63,300 (local) and $64,500 (main). There is an extreme sell pressure in the main resistance area, the price was rejected from there 7 times already. Talking about supports.. there are two of them: ascending trend line and $60,000. In fact, I tend to believe that $60k is just a psychological level that bulls don't want to lose. There is no real buy pressure there. The only support that matters is the ascending trend line that saved the price 4 times already. 🧐 How to trade it? The safest buy is on the confident $64,500 breakout. A riskier purchase is after $63,300 breakout. If we lose ascending trend line — say goodbye to Bitcoin above $60,000. If this happens, we will see $55,000 zone in no time. Bulls need to push the price today. Otherwise this week might be bloody. I adjusted the size of my LONG position on Bitcoin, closed 30% of it here in small profit.

✍️ What is important to understand is that I'm not saying a dump below $60,000 will happen 100%. There is still a probability of going upwards from current points, so in fact there are two options: - Enter LONG right now (as I did) and be ready to average lower in case of a breakdown - Wait for $64,000 (descending resistance) breakout and enter after that. The second option is safer, but gives worse entry point.

⚠️ If you are building LONG position on Bitcoin or any Altcoin, you need to expect such a dump to happen. Bulls are not showing strength around the $60,000 level, so chances of such dump are increasing. Don't use high leverages, x5 on Bitcoin and x2 on Altcoins is maximum you can afford now. Averaging at $57,000 - $55,000 and below $55k will bring you huge profits. Chances of going below $50k are EXTREMELY low.

👀 Bitcoin filled the second buy order, the LONG position is valid. Holding.

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👀 BTC BRIEF UPDATE I hold my LONG position, it will take time to get some good profits from it. One buy order was filled, others are waiting. Bitcoin came back above $63,000, but in fact it's nothing. As long as we stay above $59,600, priority remains "neutrally bullish" To make it bullish, we need to break through the $64,000 (descending resistance) with strong impulse.

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🏁 Buy orders for my LONG position started being filled.

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