First, let's review the market trend from June to July.
June and July are a bullish trend. The bottom was around 24850 in mid-June and the high point reached 31850 in mid-July, which is exactly one month. That is to say, the rise was about 7000 points.
When we look at the period from mid-July to mid-August, the index fell all the way from 31850 to a new low of 24580, which is about 7000 points.
At present, we can see from Fibonacci that 0.5 is a watershed between long and short positions. The chips above are still more than those below. If the price rebounds to around 27500-28200 in the future, we can arrange the medium and long-term and continue to short.
Why do we still want to keep the idea of short selling? Although the market plummeted twice from August 17 to 18, the market still failed to stabilize around 28,000 after two rebounds at the end of August. This shows that the main force has been trying to hold on to the long positions above. Only when the market falls again and causes emotional impact or the short positions are greater than the upper positions, will there be a chance to slowly rebound.
In October, the short position is still the main
Operation suggestion: short sell directly when the price rebounds to 27500-27700
Just look down to 2000-2500 points #BTC
