Welcome back,
I hope everyone has already seen the market by now. Bitcoin has crossed $118,000 at the time of writing this blog. Of course, this is exciting, but in this blog I want to share what could be the next move for Bitcoin, because that’s how we try to predict overall market movement.
Currently, Bitcoin is trading near $118,000, and this is the price point it has not touched for the last 1.5 months. So, after almost 6 to 7 weeks, we are finally back here.
If Bitcoin is able to hold this level and make a daily close above $117,000, then it can skyrocket again and reach $120,000–$125,000 in the coming days.
But if it loses support and comes back down to around $115,000, then the market will likely test the $114,000 support zone.
That’s why to stay safe, you should avoid over-leveraging in futures trading right now. I keep seeing people on Twitter shouting “alt season is here, alt season is here,” but I’ve said this many times in my blogs, alt season is not going to come like before. Do not fall into these traps made for normal users to get dragged in.
Booking Short-Term Profits
If you had any short-term holdings, chances are you’re already in profit. Recently, I shared a few tokens in my blogs and they are already up 15-20%.
Personally, I booked 20-25% profit on Pengu. I sold it because I bought it with short-term intention, and this is where setting targets becomes super important. Without targets, you’ll always wait for “a little more” before selling , and most of the time you end up stuck.
Yes, Pengu can still go up 20–30% more, but my long-term holdings in Pengu are safe. If the price reaches my target, I’ll sell some of those too.
What About ENA?
I also invested in ENA, but it hasn’t shown a big move yet. Still, I believe ENA has the potential to pump at least 15–20% more even in the short term. Right now, I’m sitting on 7-8% profit in ENA, so I’m waiting patiently. If the market comes down, I’ll buy some more tokens and update you all here.
To conclude, my advice is simple:
Hold your long-term holdings.
For short-term holdings, set clear targets and start booking profits.
This is how you survive the crypto market. Without targets, you’re only going to struggle.
Thank you and happy trading everyone! 🚀