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As Bitcoin rises, many traders look for opportunities based on Fibonacci retracement levels. The expectation was for a correction around the 38% to 61% levels, and with recent fluctuations hitting these levels, traders have acted accordingly. Currently, many are maintaining buy orders below the $100,000 mark in anticipation of potential dips and corrections that may activate their positions.
The ongoing strategy involves a careful balance between capitalizing on upward movements and being prepared for corrections. For investors holding Bitcoin for the long term, dollar-cost averaging strategies—buying fixed amounts at regular intervals—are recommended to mitigate risks associated with market volatility.