This BTC rally looks better supported, but I’m still not…
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This BTC rally looks better supported, but I’m still not chasing it
BTC’s move looks more convincing than the usual headline-driven pump. Spot ETFs have seen strong inflows recently, long-term holders continue to accumulate, and larger wallets have reportedly been adding over the past couple of months.
That feels like a healthier mix of buyers than we’ve seen during some previous rallies. At the same time, I don’t think that automatically makes buying after a big move low risk. By the time most of the indicators look bullish, a lot of the easier entries are often already behind us.
Personally, if I decide to take a trade here, I’d probably keep the position smaller and have my invalidation planned before entering. I happen to use BYDFi for BTC perpetuals, but I’d approach the risk the same way on any exchange. The downside is that waiting for a cleaner setup could mean watching price keep running without me.
What would make you comfortable adding to a BTC position here, or are you staying patient for a pullback?
#cryptocurrency
source
BTC’s move looks more convincing than the usual headline-driven pump. Spot ETFs have seen strong inflows recently, long-term holders continue to accumulate, and larger wallets have reportedly been adding over the past couple of months.
That feels like a healthier mix of buyers than we’ve seen during some previous rallies. At the same time, I don’t think that automatically makes buying after a big move low risk. By the time most of the indicators look bullish, a lot of the easier entries are often already behind us.
Personally, if I decide to take a trade here, I’d probably keep the position smaller and have my invalidation planned before entering. I happen to use BYDFi for BTC perpetuals, but I’d approach the risk the same way on any exchange. The downside is that waiting for a cleaner setup could mean watching price keep running without me.
What would make you comfortable adding to a BTC position here, or are you staying patient for a pullback?
#cryptocurrency
source
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