Invited analyst Conaldo used a quantitative trading model to review Bitcoin's last week performance, executing two short-term trades and achieving a cumulative return of 6.93%. He cautions that the current rebound might be a false signal engineered by major players, with Bitcoin potentially facing a second leg down at any time. This week, Conaldo predicts range-bound trading and has formulated a detailed strategy, including entry levels at key support and resistance zones. Investors should stay alert and avoid chasing breakouts.
Last Week's Review: Two Short-Term Trades Net 6.93%
Invited analyst Conaldo applied his quantitative trading model to review Bitcoin's price action last week. He successfully executed two short-term trades, achieving a cumulative return of 6.93%. While the model capitalized on market volatility, Conaldo warns that the recent bounce may not signal a trend reversal but rather a trap set by large players. The risk of a second leg down remains elevated, urging caution among traders.
This Week's Outlook: Range-Bound Trading with Risk of Double-Dip
Conaldo forecasts Bitcoin will remain in a range-bound pattern this week, advising a buy-low-sell-high approach. He emphasizes that a second leg down is possible at any time, so blindly chasing short-term breakouts is not recommended. A detailed strategy has been prepared, including entry points at key support and resistance levels, along with risk management rules. Traders are advised to follow these levels and stay disciplined.
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