$BTC Today's Horror Story: After the Free Fall, Can We Hold the Key Support?
This morning, I opened my computer and was scared out of my wits by BTC's sudden free fall! The opening price at 102780 seemed calm, who would have thought that within just a few hours, we would witness a thrilling "waterfall descending three thousand feet"? From the five-minute candlestick chart, that bearish candle piercing the MA average line is like the sword of Damocles hanging over the bulls' heads!
During the early trading session, after briefly spiking to a high of 102840, BTC faced a powerful counterattack from the bears, directly crashing down to the support area of 102612. Look at the death cross formed by the MA7 average line (102851) and the MA30 average line (103200), and the MACD indicator showing a clear death cross—doesn't this clearly tell us that "the bearish pattern has already taken shape"?
The trading volume is even more astonishing, with a massive volume released in the first hour of trading. Although the specific values are not directly shown in the chart, the sharp price fluctuations indicate enormous selling pressure. Now, the price is hovering around 103000, and the support level at 102600 is already on the brink, like an old, dilapidated narrow bridge that could collapse at any moment!
Friends engaging in short-term trading should take note. After such a sharp drop, there may indeed be a technical rebound, but I warn you, don't rush to be the "bag holder"! Entering the market now is akin to sending heads to the bears—it’s thankless work. My advice is to either wait for a clear bottom divergence signal at the daily level or wait until the trading volume shrinks to a very low level before considering bottom fishing.
To be honest, this drop has really left me stunned; the bulls are probably all lying flat together now, right? Market sentiment has reached freezing point; in this situation, unless you have absolute certainty, it’s better to observe more and act less. Remember, preserving strength is the long-term strategy!
What’s the most heartbreaking thing today? It’s watching those friends who chased the price above 103000 now all trapped like "the soldiers on high alert at the station." This is the market; it is always so ruthless and merciless!
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