Hello, fellow cryptocurrency enthusiasts, how have you been doing lately?
Today, I continue to meet with everyone to briefly discuss the market. Recently, BTC has experienced a drop from the 10,000 mark. During this drop, have you incurred losses or made profits? If you remember my posts, you should know that I have repeatedly advised everyone to be bearish. Thus, during this drop in the market, I can say that my actual trading has doubled continuously.
Now that the price has dropped from the 10,000 mark, I believe everyone is concerned about whether the price will continue to fall below this level or if the bears will stop here. From the current situation, let's take a look at the four-hour chart; after reaching a new high at the top, it has been declining along the way. It has now fallen to the crucial support level of 112,000. This position is a critical checkpoint for whether Bitcoin can hold the 100,000 mark. However, everyone should not worry too much; we only need to focus on the current trend. We can observe and act accordingly in the future. Currently, at the four-hour level, a pullback and consolidation area has emerged, as indicated in the chart. The range is between 114,500 and 112,000. We should trade around the consolidation as long as the bottom holds. If the bottom breaks, we will continue to look bearish. With that said, we just need to wait for time to validate.
Therefore, the subsequent market strategy can continue to be bearish around the 114,500 - 114,000 range, with a target towards the 112,000 mark. If it breaks below, we can look towards around 108,000. #BTC☀
