$BTC Evening Viewpoint:
When everyone is in a panic thinking that Bitcoin is about to fall below 90,000, you should not panic, you should remain calm and rational.
Don't just follow the crowd; have your own independent judgment. Even if Bitcoin is really going to have a big correction, won’t there be any rebounds in between? Will it always drop straight down at a 90-degree angle? Of course not, unless an event like 312 occurs; otherwise, there won't be a 90-degree straight drop.
Most of the time, we scare ourselves. Many who trade large swings only make a few trades a year; if they see a good opportunity, it’s just a few trades a year. Every drop is a buying opportunity for them, so why should you panic? In fact, trading is very simple; don’t always look at things subjectively, look at a situation objectively. No matter what happens, always remain calm, because panic can affect your judgment.
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Let the chart speak: Bitcoin's recent rebound just hit the Fibonacci 50 level and is now retreating. If it can break through and stabilize above the 50 level, it indicates that Bitcoin has stopped falling and will continue to challenge the 61.8 level and the 1:1 upward target position.
The two doji candles pointed to by the white arrows do not look good; if it can break through these two doji candles, Bitcoin will rise more smoothly, as there is also a bullish engulfing pattern below. As long as this bullish engulfing pattern is not reversed, there shouldn't be a big problem.
Bitcoin should break through 102057 with volume and go long; if it breaks down to 101359 with volume and fails to recover, then go short. Pay attention to the changes in volume.
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Bitcoin at the hourly level can break and stabilize above 102031, looking up to 102910-103402. As long as it breaks through 102031, Bitcoin will take off.
At the 4-hour level, if it breaks below 100320, look down to 98626-97496. If it breaks below 100320 again, there is a high probability it will need to clear the bullish liquidity below, which is around 97200 with 700 million waiting to be cleared. The bearish liquidity is around 103400, with nearly 500 million in short positions waiting to be liquidated. Let's see which side Bitcoin will clear first.
Continuing to look at the chart: Bitcoin's 4-hour position volume is increasing, indicating that bulls are entering, and bears are also entering.
Right now, the bulls and bears are fighting; we’ll know who the final winner is when the U.S. stock market opens. Make sure to set stop-losses and disperse your positions.