The evening Bitcoin plummeted sharply, with the US market opening low and continuing to decline. Currently, Bitcoin shows signs of approaching 86. If you enter at 88 today, there is currently more than a thousand points of space. In the evening, we will see if it can break through the trend line; falling below 85 would essentially break the upward trend. There are signs of a reversal.
From a technical analysis perspective, a death cross has formed on the 4-hour chart, and an M-top is currently forming. A large bearish candlestick has come down, creating a covering pattern, indicating a further downward trend in the evening. We will continue to observe for continuation and a breakout of the trend line.
Bitcoin trading advice: 87200 southbound
