BTC_UPDATE and the probable actions to be taken:-
BTC/USD- Bitmex (1D)
On the daily candle, as of now we do not see much movement. However, more and more news channel are picking up on BTC. From Palm Beach to institutions to CBOE BTC ETFs. And with the world cup ending over the weekend, we may see more volume coming in next week. On the previous day candle, we ended with a doji candle signifying uncertainty and indecision of bull or bear. As of now there is a higher chance of a downturn over the weekend and then an upper rally is highly likely.
Recommended Action: Long with Leverage of 2x or 3x* or Maximum 5x
Long Price: $6155 (Aggressive), $6116, $6038, $5915,
Support: $5836 (3 Week Support)
Disclaimer: Shorting or Longing on Leverage is extremely risky, losses may exceed gains if not properly managed.
If you have not registered on Bitmex yet, Register with this link to get 6 months OFF on trading fees.
https://www.bitmex.com/register/QrLFS8
Leverage involves borrowing a certain amount of the money needed to invest in something. In the case of Crypto Margin, that btc is usually borrowed from a broker. Margin trading does offer high leverage in the sense that for an initial margin requirement, a trader can build up – and control – a huge amount of money. Leverage can help magnify your returns which is great news if the market moves in the direction that you expect. However, the key risk with leverage is that it can magnify your losses in exactly the same way as your gains.
So be cautious and do not play with bigger margins.
If you find this update and our calls useful, share our channel with your friends and pin our channel to the top.
All the best