Bitcoin's current price action isn't the entry point to chase. Better play is to wait for a pullback and watch if that previous resistance level can flip into support. Two scenarios then: if the flip happens, that's your buy signal—just set your stop loss tight below it. If it doesn't flip and starts retesting on the downside, that's when you short the weakness. The logic is straightforward: let price action confirm the level first, then trade accordingly. No need to rush in right now.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
13 Likes
Reward
13
4
Repost
Share
Comment
0/400
GateUser-e87b21ee
· 17h ago
Let's wait until it rebounds before talking. Don't rush to get on board.
View OriginalReply0
PretendingToReadDocs
· 17h ago
Wait for the pullback, chasing highs now is just giving away money
View OriginalReply0
MeaninglessApe
· 17h ago
Wait for the pullback, chasing highs now is just giving away money
View OriginalReply0
WhaleWatcher
· 17h ago
Wait for the pullback, see if the resistance level can turn into support. I agree with this logic, but waiting for this kind of method might take until the Year of the Monkey and the Horse.
Bitcoin's current price action isn't the entry point to chase. Better play is to wait for a pullback and watch if that previous resistance level can flip into support. Two scenarios then: if the flip happens, that's your buy signal—just set your stop loss tight below it. If it doesn't flip and starts retesting on the downside, that's when you short the weakness. The logic is straightforward: let price action confirm the level first, then trade accordingly. No need to rush in right now.