BTC has fallen below 90,000 again. Will it continue to drop? Let's discuss the trend after the interest rate cut.
First, my opinion: it hasn't finished dropping yet! The market trend this month has been very clear: it rose before the interest rate cut due to positive sentiment, institutions harvested the last wave, and then on the day of the rate cut, the positive sentiment was exhausted, leading to a crash. However, it won't finish dropping in just one day; it will at least drop for 1-2 weeks.
So the trading logic for the next two weeks is to short on highs, or if you entered last night, just hold your low-leverage long-term short positions. The small supports are around 88,000 and 84,000, but the final correction will likely reach the previous low around 80,000.
In the short term, it has dropped quite a bit already, falling directly from 94,500 to 90,000, so chasing shorts isn't very cost-effective. It might be better to see if there’s a rebound to around 91,000 before shorting.
However, the fans of the leader shouldn't have concerns in this regard, because we already fully invested in a short position after the interest rate cut last night. So we are not considering where to short, but where to take profits in batches. You can refer to the several support levels I posted above.
For those who still want to enter the market and want to catch one last wave by the end of the year, pay attention to the leader; there's a spot in the chat room!
