Bitcoin breaks below 80,000, officially starting a second bottom test. What price can we expect this time?
Bitcoin will drop significantly, but I didn't expect it to fall this early. Regardless, don't blindly chase highs or try to catch the bottom based on feelings, because you don't know where the bottom is! The world economy is undergoing changes, comparable to the 2008 financial crisis. However, don't be blindly pessimistic; opportunities arise in market panic and despair.
You can gradually build a position in Bitcoin around 75,000, which offers a very good cost-performance ratio. If it dips again, the deepest bottom range of 65,000 to 75,000 will be Bitcoin's most significant dip zone. No matter how turbulent the market is, keep your trading rhythm in check and strictly follow your trading system; let the market determine the outcomes.
Bitcoin is experiencing a strong decline, breaking below the consolidation range. Pay attention to the market trends over the next two days; if it cannot immediately return above 80,000, this will mark the start of the second bottom test, with the first support level around 73,000. If it directly returns above 80,000, the consolidation market has not ended. This will be seen as a false breakout, a harvest by the big players in the market.
Buy on dips, set your take profit and stop loss levels, with the stop loss placed around 73,000; take profit can be adjusted upwards. Currently, it shows a very good risk-reward ratio.
Trading is not about making a profit every time to have a mature strategy; it's about being able to strictly execute your trading strategy every time, maximizing the probability of winning and ensuring a high risk-reward ratio. This is the key to long-term trading profitability.
