📉BTC 1 Minute Chart Plummets, Binance Players Beware! The recently watched BTC 1 minute K-line on Binance dramatically performed a 'plunge' - dropping from 119083 all the way down to 118028. This drop, combined with the news of the deadlock in the U.S. cryptocurrency legislation vote, requires extra caution:
Market + Policy Breakdown
Trend: Broke below MA7 and MA30 moving average support, with bearish momentum dominating, and the short-term trend leaning towards downward. The deadlock in U.S. cryptocurrency legislation increases regulatory uncertainty, heightening capital's risk-averse sentiment, contributing to the decline.
Volume: When prices fall, trading volume increases (bars turn red and thicker), indicating that funds are 'panicking' and fleeing due to policy chaos, leading to significant selling pressure.
Key Level: 118000 is short-term support; holding above it may allow for a slight rebound; if it breaks below, it is likely to test previous lows. With the policy deadlock unresolved, subsequent volatility is hard to predict.
Operational Suggestions
Spot Traders: Don't blindly catch the falling knife! With policy uncertainty + downward trend, hold your positions and observe. Wait for 118000 to stabilize and for new developments on the legislation before considering increasing your position.
Contract Traders: Go short with light positions (stop loss at 118500), and be quick to enter and exit. With the policy news in chaos, don't get greedy with the downward trend; reversal could happen anytime due to legislative changes.
Onlookers: Keep your hands off! Plunge + policy fog can easily trap you; wait for the trend and legislation to clarify before entering the market.
(Market + Policy Dual Volatility, Risk Control is Priority! Binance players should keep an eye on 118000 + legislative progress, don’t become a bag holder~)
