source avatarCheek Analytics

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I remember on January 16 we had a similar rejection on $BTC like now. Two days of growth toward 98k were wiped out by a single 2H candle, which was clear weakness so I sold. After that BTC dumped around -35% within 20 days, and memes did at least -50%. As I’ve said many times, I don’t have a bias, I trade what I see on the chart. If I see strength, I buy some. If I see clear weakness, I market sell. Of course, fakeouts happen a lot in crypto, but it’s better to de-risk yourself and buy a bit higher than just sit and hope for the best. Following this strategy has saved me a lot of money. I'll think to return 50% of the spot bags I recently sold only if we reclaim 72k (daily close).

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