It's a bit of a downer, shouldn’t we be happy? The coin's taken a dive like this, and I woke up before 8 for the first time in ages. The coin started its bearish slide from 71000 yesterday, and there hasn't been much of a solid bounce; any little uptick just leads to more drops. Sure, I'm bearish, but after all these years, what kind of market haven’t I seen? The drop isn't that severe, but the way it's moving does feel a bit disheartening.
With the market trending down, MicroStrategy's triggers might spark a new wave of liquidations. I won’t go into details since I’ve mentioned it before, but it’s time to give up on bullish fantasies. Shorting at least won't get you caught in a squeeze in the short term; that's a given.
In the short term, 66150 seems to be the support level where it stopped dipping, leading to a small bounce. Currently, we're trading around 66800. I'm leaning towards a bounce before another drop, nothing too aggressive. If it gets too aggressive, I’ll adjust my position and see if we can get near 67700 to short. If it spikes early, I’ll tweak my position accordingly.
With the market trending down, MicroStrategy's triggers might spark a new wave of liquidations. I won’t go into details since I’ve mentioned it before, but it’s time to give up on bullish fantasies. Shorting at least won't get you caught in a squeeze in the short term; that's a given.
In the short term, 66150 seems to be the support level where it stopped dipping, leading to a small bounce. Currently, we're trading around 66800. I'm leaning towards a bounce before another drop, nothing too aggressive. If it gets too aggressive, I’ll adjust my position and see if we can get near 67700 to short. If it spikes early, I’ll tweak my position accordingly.