Bitcoin falls below! Bulls are weak!
The decline conditions of 1 and 2 are completely different. The decline of 1 was on Christmas Eve, and the liquidity was very poor. If you switch to a 5-minute window, you can see that it stopped after falling for 2 K bars, and there was no continuity; but 2 was one bar after another. If there is a steady decline, and there is no liquidity problem, then it is a powerful decline. Moreover, the support level around 43400, after the market rebounded last night, if it is the logic of continuing to rise, then this position should not be broken again. Now that it is broken, it means that the short sellers have begun to exert their strength and want to go short. Keep an eye on the 15-minute EMA20, waiting for when it rebounds to the point where you can go short.
It’s not impossible to go long. After all, the 4-hour and daily lines are still the logic of longs, but you need to wait and wait for the structure. Whatever orders you make, whether you go long or short, you need the support of the structure. At least wait for a double bottom or a rising bottom. No matter how many forms there are, the structure takes time to come out, so you have to wait a day longer.
