【$BTC Can It Bottom Out??? There is still a potential drop of over 5000 points below!!!】
Hello everyone, I am your analyst William from Doge Group. I was a bit late in posting because I attended an event in Hong Kong last week. If you want to receive timely updates on the market, please join my team.
The good news is:
We are still in a bull market in the long term.
The bad news is:
There is still a space of 5000-8000 points at the bottom.
Current technical situation:
Bear flag breakdown, oversold.
Currently in a rebound and oscillation range.
No bottom-buying signals have appeared yet!
MACD bottom divergence, weak rebound, currently the death cross is accelerating, and the bullish momentum is not obvious!
Current trend: Bearish
Trend resistance level: 82500
Current strategy suggestion:
Focus around the resistance level 81500
Support level: 76600
Implement a swing trading strategy. Act according to the situation, take profits when there are benefits, and avoid rigid strategies.
The demand zone below, 74400-71000, is yet to be verified.
Current background:
After a rapid drop, liquidity is currently insufficient,
Time is needed to repair the market. Suitable for swing trading.
Important reminder:
In a volatile market, up and down spikes,
Be careful to avoid spike stop losses,
Setting wide stop losses and moving take profits is preferable.
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