BTC Consolidation... Then off to the moon! Bitcoin is consolidating at the same price range as it did back in January. Once we broke that STRONG Resistance, it flipped to Support while BTC Ranged up.
Now that same critical level is back to being a Resistance Area. The longer a coin/token consolidates, the stronger the Breakout will be. Think of it as a wall, and the more times we hit it in a short period, the more likely it is to break. Right now, Bitcoin is coiling up, ready to strike.
The bulls stepped in with force and held the line $29,500.
If you are newer to crypto and just got into the market this year, then you've only experienced up, and this is your first significant drop.
You won't ever forget this, I'm sure of it.
Take the lessons presented during these events and forge them into your psyche as they will continue to benefit you over and over the longer, you stay in this market.
Remember, the market must cause the most amount of people the maximum amount of pain.
When you invest and pull a 2-3X, take your initial $ out of the position.
Always cover your ass and manage your risk.
For now, we stay range-bound from $30k-$42k.
We are in no way out of the woods just yet, but we dodged a massive nuke in the market.
Depending on what your strategy is, continue to DCA into BTC and strong adults.
It's not about timing the market; it's about TIME IN THE MARKET.
