We're seeing another historic pullback after Bitcoin broke past 80k. I expected a structural adjustment for a retracement, but it just dropped straight down without looking back. We had previously positioned ourselves at 75, and we had to cut losses around 70k. However, choosing to cut losses was the right call, as the market didn't reverse; after breaking through 70k, it further dipped. Let's watch for a couple of days, as there should be some great opportunities to bottom fish. Once we get a rebound signal, that's when we'll strike again.
These past couple of days, Bitcoin has been on a downward trend with no signs of recovery, honestly, even I'm feeling the pressure. It's been dragged down hard. In this kind of market, the daily chart support is around 65. If 65 can't hold, we’ll have to look at the weekly charts for further downside.
The reason for this crash is mainly due to liquidity issues. The market has been leaking outwards. Right now, it's just some players in the market battling it out, and they're still unloading. For now, the only strategy is to wait for a bottom before making any moves.
Bitcoin trading advice: Around 65000, targets up to #美制裁伊朗交易所没收10亿美元
These past couple of days, Bitcoin has been on a downward trend with no signs of recovery, honestly, even I'm feeling the pressure. It's been dragged down hard. In this kind of market, the daily chart support is around 65. If 65 can't hold, we’ll have to look at the weekly charts for further downside.
The reason for this crash is mainly due to liquidity issues. The market has been leaking outwards. Right now, it's just some players in the market battling it out, and they're still unloading. For now, the only strategy is to wait for a bottom before making any moves.
Bitcoin trading advice: Around 65000, targets up to #美制裁伊朗交易所没收10亿美元
