Bitcoin – retest or breakdown?

14.01.2022 2:27 pm

Hello, everyone!

As you know I have the long position, opened at $40300, It performed very well, but bears now trying to push the price below my entry point. I wanted to see the impulsive move to $50000 but this move can occur later.

Yesterday the price broke the Trendline Resistance, it was great and now it is close to retest it. If this retest is going to be successful for the bulls – everything is ok. I will stay at the long position, moreover this retest coincides with the golden pocket Fib level. In case of breakdown I am not going to wait for the decrease of my paper profit and close position. I am almost sure that $40000 is the bottom, but don’t want the price to hit my stop-loss, zero profit is better! I will re-enter when the market give me the signal again.

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