BTC Market: Bull or Bear
Market Review:
Yesterday's Bitcoin was significantly affected by the global stock market, leading to a financial crisis that caused prices to be severely hindered. From this point, it is evident that the market has entered a bear market phase. The sharp drop in the US stock market and today's bottom rebound is not merely a psychological game; from the levels we saw yesterday, the price fell below 74000 without a strong defense capability. After the price explosion in both directions early this morning, there are currently no rebound points.
Market Technicals:
From a one-sided hourly candlestick level, it can be seen that since breaking below the upper chip distribution, the overall rebound space has shrunk. After hitting a new low, a new psychological chip level has emerged to redefine the basic fluctuation range of the market. Looking at the daily candlestick level, after a large spike, the rebound point is relatively strong. However, this large-area rebound has not repaired the upper levels, indicating that the bulls are still relatively weak. Today, we need to pay attention to the market; if it does not reach above 85500, it is a short signal. Likewise, as long as it occurs, one can look to go long accordingly. btc1207
Bitcoin: Buy on the dip between 82000-81500 with a risk control of 1000, and aim for 83500- then consider shorting at 85500.
Director Dong has long been engaged in cryptocurrency market trading operations. For friends who are still somewhat confused in their operations, it is advisable to take more time to watch the teacher's strategies and videos, with real-time guidance available online throughout the day. If you find it difficult to grasp short-term movements or are not confident in mid-term strategies, you can follow my Weibo: Director Dong's Cryptocurrency Real-Time Insights. Everyone is welcome to like and follow.
