Crypto Circle Scholar: The short-selling feast for Bitcoin has begun at 86! A million strong army is heading south, and profits are about to explode! Have you shorted yet?
The current price of Bitcoin is 113,100, and it is now 1 AM Beijing time. The last two days mentioned heading south at 115,000, and the thought process is already clear. As for those still holding above 119,000, many have moved down at 11.55, and the rest are locking in profits in batches. For the specific positions to take profits in batches, you can consult me, as the practical records have been updated, making it more intuitive to see and more detailed for reference.
Before the publication of the daily candlestick, the highest was 115,100 and the lowest was 112,600. It has already broken below the golden ratio line of 0.786 at 112,900. The next step is the EMA60 trend support at 111,900. If it cannot go down from this position, it will form a double bottom, so friends heading south should consider getting off the train. There’s no rush before that; MACD contraction has started to increase again, indicating that yesterday's market surge is likely a false rally. The DIF and DEA have come down above the 0 axis line; breaking below the 0 axis line means the bearish trend is coming. The candlestick has also reached the lower Bollinger Band support at 112,600 and is maintaining at the lower Bollinger Band without breaking it.
The four-hour candlestick has entered a downward channel. After reaching the downward trendline resistance at 116,000, it has retreated downwards, breaking the trend indicator. The MACD has reduced its volume, and if the candlestick loses 112,600, the MACD will end the volume increase and start to decrease. The DIF and DEA will also form a dead cross below the 0 axis line again, and the bearish trend will continue. So the overall thought process is bearish, and those already holding short positions should continue to hold. For those who do not hold, the next opportunity will be discussed later.
Short-term thought process reference: The market is not 100% certain, so always set a stop-loss. Safety first; small losses and big gains are the goal.
Northern trial entry point 111,500 to 111,000, with a stop-loss at 110,500, a 500-point stop-loss, and a target of 112,500 to 113,500. If broken, look at 114,500 to 115,500.
Southern trial entry point 115,500 to 116,000, with a stop-loss at 116,500, a 500-point stop-loss, and a target of 114,000 to 113,500. If broken, look at 113,000 to 112,500.
Specific operations are based on real-time market data. For more news and details, you can consult me. There may be delays in article publication, and it is recommended for reference only; risk is borne by yourself.
