Bitcoin is now trading $55,000.
I believe this is the important resistance level. I do not think it will go much higher. Any moves higher will be fast ones and it will be down soon after.
This would be a great time for people to sell BTC futures, put a stop loss at $58,670 and target $34,080. This will be a cheap portfolio hedge.
Reference: Real risk of serious bear market: Portfolio protection tips. (read.cash)
This is not financial advice and I can not say what will be best for you. For me, I can risk a couple percent here to save 20 - 30% in a smaller correction.
I think after a drop BTC might trade a little higher. Somewhere around 70,000.
As I said at the bottom of this post - 23rd Feb. Critical levels reached. (read.cash)
If BTC spikes to 70,000, and SPX spikes to 4,000 - watch out!
I think these will happen after the next drop in the market (Which I expect to see very soon).
Things had changed when I came to you😊