Bitcoin dipped to 98,000V and returned to the 106,500 level, which is the starting point of the significant drop on the 20th. The market always has countless reasons for harvesting. From a technical perspective, Bitcoin still has upward space around 108,500, which is the top of the downward channel. A short position can be considered between 106,500 and 107,300, while a long position can be considered between 103,500 and 102,500.
Note that we are approaching the end of the month. Although there was a quick recovery after the sharp drop, market funds have not caught up. Some altcoins may still have rebound space, but retail investors often lose out while trying to catch altcoins for a rebound. Stay alert to the risks of market fluctuations. In a volatile market, both long and short positions can be considered, but always be ready with stop-losses.
