Can't go up, so come down? Is Bitcoin about to rebound? Let me share my thoughts.
Since last night, Bitcoin experienced a false breakout, initially turning downwards. It has now reached the very important support level of 83,000, which has some support. High-leverage short positions may consider taking profits and continue to observe. If this support fails, it is likely to continue falling, potentially down to 81,500.
But don't rush; it hasn't broken down yet. The support here is still valid, and you could even take a small long position to catch a bit of a rebound. If it breaks down, you'll stop loss, and the risk-reward ratio is still decent. As for Sol, we previously suggested exiting and waiting for a pullback, and now it's starting to pull back.
Yesterday, everyone saw the screenshots of our trades; we are now entering on the right side. Last night, Bitcoin's failed breakout and subsequent drop back down signal a short opportunity. The downward space is substantial, and if it recovers slightly upwards, just stop loss. There is no 100% win rate; there is only a relatively high risk-reward ratio. Even with a 50% win rate, if you win 7 and lose 3, you'll still be profitable in the long run.
Personally, I prefer to operate at strong support and resistance levels. I won't open trades in indecisive areas, as your stop loss would be too far from the support, resulting in a low risk-reward ratio.