Saturday, a brief discussion, outline of Bitcoin trend analysis, continue to look at the downward trend in the second half!
Bitcoin plummeted from $88,000 to $81,960, breaking a four-day increase and hitting a key support level near $82,000. There are certainly many retail investors thinking about buying the dip; I can only advise everyone not to do so, but to patiently wait until the end of the monthly and weekly charts before making any decisions. I have mentioned before that this round of decline is a trend-driven downward movement, not the previous spike and washout. We are not afraid of sudden crashes but rather continuous declines; the spread of panic will affect everyone’s trading desire, and of course, this process will be very long and tortuous.
In our previous articles, we talked about the monthly and weekly charts, which are not very optimistic. In the past few days, the market performance has clearly shown a weak trend. Technically, the daily chart is once again closing in the red, experiencing pressure below the moving averages, with the momentum of dark clouds covering the top being quite obvious. The weekly chart has quickly reversed, and with the exchange's holding and market sentiment being overwhelmingly one-sided, there is little rebound momentum to be seen. Without new inflows, support cannot hold. Additionally, tariffs still loom like a dark cloud overhead, and the trade game between China and the U.S. is something we should pay close attention to. Therefore, in this situation, it is inevitable that we will continue into the next round of decline.
Currently, with support also continuously being breached, the important level to watch is $81,800, which is also the weekly bottom support. If this level is broken, the next target will be the daily bottom around $79,500, which can serve as a buffer zone. Once the price falls below $80,000, it is highly likely that we will continue to fill the previous gap near $76,000. If we see a stop to the decline again, that would be a good thing, and instead, it would be an excellent buying opportunity! So moving forward, stay primarily at high levels, and confirm the bottom before making any moves!
Therefore, regarding operational advice, if Bitcoin rebounds in the $83,000-$84,000 range, go short directly, with a 10% stop loss, holding for a swing trade, and protect against $85,000, targeting $81,800-$79,500-$76,600!
In dealing with the market, we must follow the trend, assess the situation, and never act blindly! Wishing everyone all the best; always here, with great market intuition; those who understand, understand! #加密市场回调 #美国加征关税 $BTC
