Shu Qin said at which position the zec rebound is more suitable for shorting
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分析师舒琴
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Can you believe it? Bitcoin has dropped to the 80,000 range in just two weeks! Are there signs of a bottom? Has ZEC collapsed?
Old investors know that the cryptocurrency bear market follows a rule: sensitive altcoins drop first, and then Bitcoin drops to catch up. Now many altcoins, including ICP and FIL, have stopped falling, and Ethereum hasn't dropped much either, while Bitcoin has started to catch up and continuously hits new lows, which often indicates that a bottom phase is approaching.
As shown in the picture, the support for Ethereum around 2750-2850 is very strong, it's the consolidation area from previous market movements, with dense positions. I think that dropping to this level is definitely a good opportunity to try for a short-term rebound.
As for the larger trend, the bear market has undoubtedly arrived. Bitcoin has dropped from 126,000 to 80,000 in a month. Do not underestimate the destructive power of a bear market. Shuqin mentioned at the peak in October that Bitcoin would drop to 50,000 or 60,000 next year. Many people said it was impossible, but now it has dropped to 80,000 in just a month. Do you still think it’s impossible? Have you ever experienced a bear market?
As shown in the picture, the support for Ethereum around 2750-2850 is very strong, it's the consolidation area from previous market movements, with dense positions. I think that dropping to this level is definitely a good opportunity to try for a short-term rebound.
As for the larger trend, the bear market has undoubtedly arrived. Bitcoin has dropped from 126,000 to 80,000 in a month. Do not underestimate the destructive power of a bear market. Shuqin mentioned at the peak in October that Bitcoin would drop to 50,000 or 60,000 next year. Many people said it was impossible, but now it has dropped to 80,000 in just a month. Do you still think it’s impossible? Have you ever experienced a bear market?