Bitcoin trader marks ideal and highest risk entry points to BTC right now
Bitcoin (BTC) has traded in a tighter price range in the past 18 days, marking key support and resistance levels. These key levels make for ideal and high-risk entry points in Bitcoin, respectively, as the leading cryptocurrency decides its direction. In a post on X, the prominent Bitcoin and crypto trader who goes by Credible Crypto warns of impending volatility. According to him, BTC is currently at a high-risk entry point, trading near the range’s resistance level. Thus presenting a short-term retracement possibility, targeting the range lows, which corresponds to an ideal entry point at price support. Moreover, Credible Crypto attributes the incoming volatility to a surging open interest (OI) despite the tight neutral range. Therefore, the trader foresees a short or long squeeze that could cause a deviation and possible breakout from this range. Picks for you ...