BTC suddenly spiked in the middle of the night

The downtrend is not over, be cautious about going long

Early this morning, while everyone was asleep, BTC made an extreme spike, dropping to around 110,000, catching many off guard. For those who went long, it’s likely to be another day of heavy losses. To be honest, if you watched my live stream or my posts, we won’t say you made money during this drop, but at least you wouldn’t lose money. Because I repeatedly reminded everyone that this round of decline is not over yet and is still in the correction phase. Just yesterday, I specifically mentioned that as long as it breaks below 145,000, the market will change, becoming very weak, which means it will continue to decline. So, I said yesterday, don’t trade on Sunday; the risks of trading are too high. If you must trade, wait until the market opens on Monday.

So, how will the market move next? Does this spike mean a rebound starting from here? I believe this spike is not the bottom yet; it will still drop, but it may need to oscillate for a day or two before it begins to decline. This rebound will only hold if it stays above 114,000; otherwise, the market will continue to drop, heading towards 108,000 and 105,000. I think 114,000 and 116,000 are both great shorting opportunities. As for where to short and when, we will provide opportunities based on market conditions.