Bing Ge
On March 11th, the market is releasing both long and short positions, currently digesting and repairing. The total liquidation amount across the network in 24 hours reached 670 million USD, with Bitcoin accounting for 271 million USD and Ethereum for 115 million USD.
The daily chart has formed a 'five consecutive downs', the lower Bollinger Band is opening downwards, and the 4-hour chart shows a bearish dominance, with short-term rebounds hindered at the 84,000 USD resistance level.
Bing Ge: Important support at 77,000, breaking below could test 75,000, and if it breaks further, it could test 72,000.
In the short term, one can choose to short on the highs, while long-term spot investors can consider dollar-cost averaging if it breaks below 77,000.
