Home Community Crypto, Trading, Investing, and Technology What’s going on with BTC at $7300

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    • #8541
      Justin Justin
      Moderator

      We’ve seen BTC hit $7300 then retrace a few times. We have a trade open at $6,287, so it seems a bit frustrating the trade isn’t closing out at that $7,300 for solid profit.

      Looking at why this might be, here’s my 2 cents:

      -Overall, we’re in an uptrend making higher lows.
      -$7,300 appears to be a critical level. If price goes above, it will likely continue up quickly.
      -$6,800 appears to be providing support. If price goes below, it will likely tank and end our uptrend.

      Based on this, I believe the model is figuring the probability of breaking above $7,300 is worth staying in the trade.

      Of course, this is conjecture, but these levels seem key.

      What are your thoughts on the current market dynamics?

      What’s going on with BTC at $7300 1

      • This topic was modified 2 months, 3 weeks ago by JustinJustin.
      Community Advocate
    • #8551
      AvatarRob D
      Participant

      Well it closed around 6800 so its playing safe I guess. My gut is there is a significant chance we see low 6’s again short term. Bouncing off of that and we can go race to the 7’s again.

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