6.26 Finally Hits the $50K Range: Ample Momentum, Still Paired with the Moving Average Line to Continue Falling
Old Bao’s CoinWind Harbor Episode 385:
After yesterday’s 4H wiped out the long (bullish) trend on Bitcoin, the price formed a “window”
After the sell-off went deep, the reason rebounds occurred twice and the probability is high is that the massive short covering by the bears led to a surge in buy pressure—combined with long positions entering via contracts
One point worth noting: every time the price rebounds upward, while the buy pressure weakens, the selling pressure increases quite a bit as well
Therefore, the bottom this week is not expected to be only as simple as 58k—so after today’s repair and the direction is set, it will continue to fall
PS:
Long-form discusses trends, short-form discusses logic—in the trading market, what’s most expensive is trading logic, while what’s least worth mentioning are the buy/sell levels;
The daily video is for reference only and does not constitute trading advice. Thank you for your continued attention and support for Old Bao’s CoinWind Harbor.
Old Bao’s CoinWind Harbor Episode 385:
After yesterday’s 4H wiped out the long (bullish) trend on Bitcoin, the price formed a “window”
After the sell-off went deep, the reason rebounds occurred twice and the probability is high is that the massive short covering by the bears led to a surge in buy pressure—combined with long positions entering via contracts
One point worth noting: every time the price rebounds upward, while the buy pressure weakens, the selling pressure increases quite a bit as well
Therefore, the bottom this week is not expected to be only as simple as 58k—so after today’s repair and the direction is set, it will continue to fall
PS:
Long-form discusses trends, short-form discusses logic—in the trading market, what’s most expensive is trading logic, while what’s least worth mentioning are the buy/sell levels;
The daily video is for reference only and does not constitute trading advice. Thank you for your continued attention and support for Old Bao’s CoinWind Harbor.