Bitcoin scalping idea

BINANCE:BTCUSDT   Bitcoin / TetherUS
BTCUSD Hello, guys welcome to Wallstreet whales,
In today's analysis, we are going to talk about BTC /USD.

fundamental analysis:
The markets saw a strong sell-off due to a bad CPI (consumer price index) number and a de-fi protocol named Celcius held withdrawals for its user so this created panic in the markets, Watch out the PPI(producer price index) which has come to 8.6 IMO its bearish,
FOMC meeting happened on the 16th of June, where feds decided to raise interest rates by 75 basis points. the market sentiment stays bearish for now, as feds were talking about keep raising the interest rates until us inflation falls down to 2%, this might take time.

so jumping straight into the technical analysis:
the bitcoin has not touched its 200day moving average for the last two years approximately, looking at the previous bitcoin cycles the best time to buy bitcoin was when it was around its 200day moving average, this is the main reason why I'm starting to scalp bitcoin from around this levels. another take is that bitcoin can touch its 0.768 Fibonacci retracement level which is at 17800usd also it's the previous cycle top where there should be enough demand. this strategy will make you ready for a bear market and keep you stress-free if you follow the exact same. I'm personally placing buy orders for bitcoin from its 200day MA to its monthly demand zone which is around 11000usd to 8000usd, so the buy orders should be in the pyramid style. eg; if the price drops to 18k you buy 500$ if it goes to 16k you buy 1000$ until the next monthly support. make sure you don't go all-in on monthly support too,

My bitcoin buy orders at
17600- 10000$
16600- 20000$
14110- 40000$
12000- 80000$
11000- 16000$
10000- 32000$
Keeping cash in handy just in case 3k

None of this is financial advice it's only for the educational purpose


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