BTC morning forms a long upper wick and a bearish body; three consecutive bearish candles on the daily chart.
BTC is suppressed by the descending trendline above. When it touches the upper trendline, it pulls back; however, the momentum to break through the trendline can’t keep up, and there is heavy sell pressure overhead.
Resistance at 7.92 coincides with the descending trendline, creating a two-point resonance. For longs, take partial profits (T1) near 7.92, then place the stop around 8 near breakeven.
Next, look at the chart: BTC is currently inside a descending parallel wedge channel that isn’t perfect. There is a chance for a bounce when it retests the lower trendline.
The 7.78–7.75 area forms an effective support zone. You can choose to open a long position there to catch the bounce, and it also serves as a second add-on to long to lower the average entry price.
If you can’t clearly read the market or are hesitant, and since the range is not very volatile, it’s better to stay mostly in cash and wait. Hold your long positions and let the market move first; you can also consider adding around 7.75 on the pullback for one more entry to lower the average long price.
According to data from Coinglass, BTC spot ETF saw net outflows for two consecutive days. Grayscale had net outflows of 1,175.15 BTC over two days.
In the past 24H, a total of 143,081 people were liquidated across the whole network, with the value reaching $389 million USD. Long liquidations: $273 million; short liquidations: $115 million. To ensure you can hold your “future meal ticket” at the table long-term, a low-leverage position size that suits you is the right choice.
If you want to quickly recover your losses and turn things around, and you sincerely want to get back to breakeven and make it to the shore—Cai Ge is here waiting for you. As long as you take action, I’ll be here at @成哥带单-先盈后付 .
BTC is suppressed by the descending trendline above. When it touches the upper trendline, it pulls back; however, the momentum to break through the trendline can’t keep up, and there is heavy sell pressure overhead.
Resistance at 7.92 coincides with the descending trendline, creating a two-point resonance. For longs, take partial profits (T1) near 7.92, then place the stop around 8 near breakeven.
Next, look at the chart: BTC is currently inside a descending parallel wedge channel that isn’t perfect. There is a chance for a bounce when it retests the lower trendline.
The 7.78–7.75 area forms an effective support zone. You can choose to open a long position there to catch the bounce, and it also serves as a second add-on to long to lower the average entry price.
If you can’t clearly read the market or are hesitant, and since the range is not very volatile, it’s better to stay mostly in cash and wait. Hold your long positions and let the market move first; you can also consider adding around 7.75 on the pullback for one more entry to lower the average long price.
According to data from Coinglass, BTC spot ETF saw net outflows for two consecutive days. Grayscale had net outflows of 1,175.15 BTC over two days.
In the past 24H, a total of 143,081 people were liquidated across the whole network, with the value reaching $389 million USD. Long liquidations: $273 million; short liquidations: $115 million. To ensure you can hold your “future meal ticket” at the table long-term, a low-leverage position size that suits you is the right choice.
If you want to quickly recover your losses and turn things around, and you sincerely want to get back to breakeven and make it to the shore—Cai Ge is here waiting for you. As long as you take action, I’ll be here at @成哥带单-先盈后付 .
