3.11
The US stock market crashed yesterday, and Bitcoin also experienced a significant drop. This morning, Bitcoin tested lower again, reaching a minimum of around 76,500, but has since rebounded.
Bitcoin has formed five consecutive bearish candles on the daily chart, with the bearish momentum being unstoppable. Bitcoin continues to test and break down. Looking at the hourly chart, after dropping to around 76,500 this morning, Bitcoin has rebounded, and is now fluctuating upwards, currently touching the middle band. The bulls are gaining momentum, and in the short term, there is still room for Bitcoin to rise, but overall, the bears still dominate. It is recommended to short on rebounds at higher levels during the day.
It is suggested to short Bitcoin at around 80,500 on the rebound, add at 81,300, and set a stop at 81,500.
