There is not much market activity over the weekend, let's talk about the overall trend. Since BTC started its bearish trend on the daily chart, each rebound has not broken the daily bearish trend, and a large descending channel has formed.

Affected by news, BTC rapidly fell to the 100,000 mark, a very important neckline position, and began a quick rebound. Surprisingly, this rebound was quite strong, even over the weekend. I had a short position near 103,000 that has already stopped out, but this is also normal speculation; no one knew it would rise over the weekend.

Without any pullback, it completely consumed the previous decline. Market sentiment is still relatively good; breaking the 100,000 mark is not easy. The rebound has already exhausted itself starting today. Based on the current adjustment rate, BTC may rebound to around 106,400 before the next wave of pullback begins. From the current perspective, BTC at this position touches the upper edge of the descending trend line. According to the liquidation heat map, the 107,000 position has accumulated a lot of fuel. One possible viewpoint is that next week will mainly be a consolidation market, oscillating around the 107,000 position, liquidating shorts above, and then directly starting a downward liquidation of the accumulated longs below. So, taking short positions here has a relatively high cost-effectiveness. If it breaks out with volume, it will restore the bullish trend, allowing new highs to be seen; otherwise, if the trend line is not broken, it will still remain a bearish trend.

Once a trend is formed, it is not easy to change.

If this pullback goes as expected, we are likely to see previous lows, or even lower than the previous lows. A fundamental principle in trading is to follow the trend. Currently, BTC is close to the trend line, and chasing long positions here is meaningless with a poor risk-reward ratio. In the coming week, my viewpoint is to look for a pullback, entering short positions gradually around 106,000-107,000, and entering longs near the previous low around the 100,000 mark. The key intermediate points may experience multiple retests or pullbacks, but the overall trend remains unchanged.

In summary: The downward trend remains unchanged, and we have reached the upper edge of the descending trend line. Gradually layout short positions near 106,000-107,000, and gradually layout long positions near the 100,000 mark. Intermediate points may experience multiple rebounds and pullbacks, but the trend remains unchanged. Traders can speculate at these positions #韩国加密政策 .