BTC Trading Insights
In the past two weeks, the difficulty of trading has been quite high, and those who are actively trading must have deep feelings about it, especially trend traders.
The root cause is that the current market is in a corrective wave.
A corrective wave does not solely refer to a decline; the current larger cycle is a downturn, and the rebounds during this process are also corrective waves.
Characteristics of corrective waves: long duration, irregular shapes, and rapid changes in signals.
During this stage, trading frequency needs to be reduced. First, determine the overall direction, then identify key positions.
The current corrective wave is in response to the previous phase of decline, so the overall situation is an upward consolidation.
BTC's upper level faces resistance at the daily life line, while the lower level finds support at the daily life line, forming this consolidation range.
Reference range: 94000~86000
The difficulty of trading at the midpoint of this range is very high, so it should be avoided. Do not trade at non-key positions, do not occupy unfavorable terrain, and do not participate.
