3.30 Monday morning market overview: BTC long positions in profit
BTC closed this morning with an upward shadow and a bearish candlestick, marking four consecutive bearish daily candles; the weekly candle closed with a long upward shadow and a bearish candlestick.
Over the weekend, I set a long position at 6.57, entering the market at 6 AM when it dipped; currently in profit.
BTC is temporarily in a narrow range of 6.57-7; 6.57 is facing support pressure again. Will it bounce back after a retest, or will it break the support and plunge? From the market trend, I see signs of a potential rebound.
If no positions are held, one can wait for a retest at 6.57 or go long on a right-side breakout above 6.57, with a stop at 6.45 and targets at around 6.69 and 6.88.
At the same time, if it breaks below 6.57 without a retest, one can go short accordingly, hedging with long and short positions; stop at 6.7, targeting around 6.44 and 6.38.
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