Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000. Investors waiting with bated breath for a volatile move remain confused about whether to buy the dips or keep some cash reserves for a rainy day.
The second solution is to be a long-term investor, i.e., buy the dip on altcoins with strong fundamentals and wait. Trading the market based on events or news. For example, Tesla’s addition of Dogecoin to its payment system was bullish news for DOGE. Considering meme coins were a popular investment category before the markets consolidated, buying a long position on DOGE would have been ideal. Trade the trending categories.
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