250411 - Bitcoin Market Analysis (2)
Bitcoin seems to have failed to break through the downtrend line again?
As we can see, Bitcoin once again slightly rose above the downtrend line.
But it did not completely stand on it and fell back.
This can be regarded as a false breakthrough of the downtrend line.
Bitcoin has repeatedly failed to break through the downtrend line, indicating that the downtrend line has a very strong suppression on the rise of Bitcoin.
My idea is to try to short with a light position near the downtrend line. Because this is a trading method with a relatively high profit and loss.
Once the downtrend line is broken, we can stop loss immediately and observe the market.
But if the downtrend line cannot be broken, then Bitcoin will definitely continue to fall.
In addition, the Sino-US tariff war is still escalating, which is also bearish. Today, China continues to increase tariffs on US imports to 125%. Whether the US will continue to increase tariffs on China is unknown.
So you can try to short near the downtrend line, but remember to set a stop loss. My stop loss is placed slightly above the resistance level of 83500 (83700-83900)
