The $14 Billion Weekend: Why You Shouldn't Trade Now! đŞď¸
A huge event just happened in the market. Something that was pulling prices towards a certain level is now gone. This creates a kind of space where people who make markets for a living refigure out their positions. You might see sudden jumps or drops in $BTC prices. Like $2,000 up or down. Meant to trigger your stop loss.
The best thing to do now is to stay with what you have. Avoid using much borrowed money to trade. If you're borrowing more than three times what you have you're taking a huge risk.
Keep an eye on the $65,500 level. It's a point that might help support the price.
Here's a tip: set your "Buy Limit" orders a little lower than the current price and then go to sleep. Let the market move come to you.
My view is that things are neutral. Theres going to be a lot of ups and downs. This weekend is, about waiting and watching. The real action starts on Monday when US markets open up again.
Are you holding onto your cash tonight. Do you have your orders ready? Stay safe there! đĄď¸