Bitcoin's recent drop is a bit unreasonable!
It crashed directly without touching $83,000. Yesterday's peak just happened to hit that key yellow trend line, obviously rebounding to the resistance level and then backing off. The most frustrating thing now is that the support level at $74,500 is still holding strong without breaking, neither triggering a short squeeze nor filling the gap at $72.4k below, making the current movement feel tangled like constipation.
Personally, I think there’s a high probability it will continue to drop in the medium term; it will first have to lure in some bottom-feeding funds in the red zone before it's satisfied. In the short term, keep a close eye on the critical level of $72.4k; if it can suddenly crash to that position and then quickly pull back above $74,500, that would definitely be a golden opportunity. Otherwise, in this uncertain position, I’d rather sit back and watch than make a hasty move!
The market is always changing, and our mindset also needs to shift. Recently, I will be positioning myself with a weak coin, expecting a drop of 500% is not an issue!!
