Warning from Analyst for Bitcoin Traders
A well-known cryptocurrency specialist is warning that Bitcoin is in serious danger. The analyst, known as Rekt Capital, has issued a warning to investors on a probable loss of crucial support as a result of Bitcoin’s recent 2% decline and its current price of $22,517.
Technical Uptrend for BTC in Peril
Rekt Capital asserts that Bitcoin must close over $22,692 in order to sustain its technical rise. Despite recent setbacks, the expert thinks it is still too early to give up on Bitcoin and that it may yet revert to its positive range.
Losing Multi-Week Higher Low Probability
Rekt Capital is also keeping an eye on the potential loss of Bitcoin’s multi-week higher low after resistance at about $23,400. Bitcoin may perhaps rebound at this stage, but traders are encouraged to exercise care.
Focusing on Trading Psychology
The analyst provides light on the psychology of cryptocurrency trading and how, following a profitable trade, dopamine releases in the brain can result in repeated, FOMO-based decisions. If you FOMO on a green day, you won’t have enough ammo to FOMO on a red day, says Rekt Capital, highlighting the risks of this practice.
advised investor caution
We would like to remind investors that before making high-risk investments in Bitcoin or any other cryptocurrency or digital assets, they should conduct comprehensive study and comprehend the possible hazards. It is crucial to remember that every transfer and trade has a certain amount of risk, and the investor is solely responsible for any losses that result.