Last Week's Review: Two Trades Yield 6.93%
Guest analyst Conaldo utilized a quantitative model to review Bitcoin's price movements last week. He executed two short-term trades at clear support and resistance levels, achieving a total return of 6.93%. The first trade was a long entry at the lower range boundary, closed near the middle band; the second trade was a short after the price failed to break resistance, capturing a swift pullback. These trades demonstrate the model's ability to identify short-term reversal points.
This Week's Outlook: Range-Bound with Risk of Second Retest
Conaldo notes that the current bounce lacks volume and momentum, suggesting it may be a trap. He predicts Bitcoin will trade in a range this week, with well-defined overhead resistance and underlying support. He specifically warns traders not to be fooled by the bounce, as a second retest of the lows – or even a breakdown – is possible. His recommended strategy is to maintain light positions, trade the range (buy low, sell high), and set strict stop-losses to avoid whipsaws in the volatile environment.