🦉 Bitcoin Traders 'Buy the Dip' as BTC Price Slips Below $88K

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Over the past 36 hours, Bitcoin (BTC) has seen a notable decline, breaking below the major trading range it has maintained since November of last year. Despite multiple attempts to hold key support levels, BTC ultimately failed to sustain the range and pivot point highlighted in Monday's update. Broader market conditions, particularly a downturn in the stock market, also played a role in this drop. While this kind of movement is not uncommon in financial markets, Bitcoin’s potential recovery depends on its ability to quickly reclaim the trading range it recently left behind.

For BTC to regain upward momentum, it must re-enter the range above $91K, which has previously served as the lower boundary of this range. A crucial step would be to turn this lower boundary—currently acting as resistance—into a solid support level. Failing to do so would suggest that this drop isn’t just a temporary deviation, but rather a genuine breakdown from the range, possibly signaling the start of a bearish trend.

Additionally, higher-timeframe stochastic indicators, which track momentum and price direction, are currently aligned to the downside. If Bitcoin closes February below $95K, this would reinforce the likelihood of further downward pressure.

At this critical juncture, Bitcoin needs a sharp rebound to avoid a deeper slide. Successfully re-entering the trading range could set the stage for further upside potential. However, if BTC fails to break above the range and maintain momentum, the lower boundary may act as a strong resistance, preventing any significant moves higher and potentially triggering a breakdown.

If Bitcoin continues to struggle, there is limited support beneath current price levels due to the sharp upward move in November, which left little market structure in place. This could result in rapid downward movements, with the key support areas to watch being the Fibonacci golden pocket between $82K–$83K. Should the price reach these levels, we will reassess the situation for signs of either a reversal or continued downside.

While a 25-30% drawdown in BTC during a bull market is not unusual, this potential correction might feel more painful due to the prolonged period since we’ve seen similar moves. However, both in this cycle and in previous cycles, such drawdowns have occurred, and anyone calling for the end of the bull market may not fully understand how price action and technical analysis work. 

The true market top can only be confirmed once key levels are lost to the downside, and we have not yet lost those levels. Therefore, we cannot confidently declare that this is "THE TOP." It may be "a top," but in my opinion, $109K will not be the all-time high for this cycle. We may see further dips, but I believe the previous high will eventually be surpassed later in the year.

Bitcoin is volatile, and market conditions can change rapidly, so I encourage everyone not to get discouraged or overly concerned by the current downturn. It’s important to remember that dollar-cost averaging (DCA) into BTC at these levels—and potentially lower—could lead to substantial gains in the coming months.

Book a free consultation at http://tacticaltradinghub.com to get started, See you on the inside!

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A percentage-based exit strategy helps lock in profits while allowing room for further gains. Here’s a structured plan:

1. Initial Profit Taking (25-30%)

• When the price increases by 50-100%, sell 25-30% of your holdings.

• This secures initial profits and reduces risk.

2. Incremental Exits (30-40%)

• As the price rises by 200-300%, sell another 30-40% in stages.

• Consider selling in 10-15% increments at different targets to capture more gains.

3. Final Exit or Trailing Stop (30-45%)

• If the price continues higher, use a trailing stop-loss of 10-20% from peak value.

• Alternatively, set a target (e.g., 500% gain) and sell the remaining 30-45%gradually.

Additional Considerations

• Adjust percentages based on market conditions and risk tolerance.

• Use a laddering strategy—selling portions instead of all at once.

• If market sentiment shifts, accelerate exit.

This strategy balances profit-taking with the potential for further upside, ensuring you don’t exit too early or too late.

Want to learn more? Join us today… www.dailygainscrypto.com 

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