Scaling in to BTC
The recent Bitcoin market meltdown has been so severe that one must start considering potential bottoms. Upon piercing the previous bull market highs and reaching as low as $17,567, Bitcoin reverted to the 20k level.
20k is a reasonable place to start scaling back in and I have opened a position at that level. It is possible BTC will fall further ($16,500 would be my next guess if the previous low is broken) and I will scale in more then.
However, it is also possible that we see a relief rally, in which case I'm putting a conservative target price of $25,000 in place to take profits given the negative macro environment.
20k is a reasonable place to start scaling back in and I have opened a position at that level. It is possible BTC will fall further ($16,500 would be my next guess if the previous low is broken) and I will scale in more then.
However, it is also possible that we see a relief rally, in which case I'm putting a conservative target price of $25,000 in place to take profits given the negative macro environment.
כתב ויתור
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