BTC continues to maintain yesterday’s view: if it keeps falling, the first target is around 82,200, and the second target is near 81,000.
Over these past two days, I’ve reminded everyone multiple times. I said BTC hasn’t yet fallen enough—82,500 was only the start of the drop, not the end. Every rebound is an opportunity to go short. I’ve long forgotten how many times we’ve already shorted; as long as it’s a short setup, you can basically take the meat, and without exception. Yesterday, we shorted again at 83,850, took profit at 80,050, and captured another 800 points. To be honest, in this market, as long as you short, you make money. So far this month, on BTC alone, we’ve already gained 20,000 points plus. We can say we’ve easily flipped the account.
So what will happen next? First, I think it will drop to around 82,200. Then below that, it will go to the 80,000–81,000 area. And I don’t think 80,000 is likely to be the end of the pullback. After that, it may still fall. Because the support around 82,500 has been tested countless times. When a support level is tested repeatedly, it’s easier for it to break. Price lured longs back and forth around 82,500. After reaching there, it rebounds, but the rebound strength isn’t strong. A truly strong trend wouldn’t test the level many times—it would go up after one or two attempts.
Also, the rebound has never been able to hold firmly above the 85,000 resistance, and there is a large amount of liquidity above. With so much liquidity, it should be quite attractive—so why can’t price go up? It shows that the bulls are too weak; they’ve been consumed. And once 82,200 breaks, it will move into the consolidation range of 75,000–82,000. The second wave of the decline will officially begin. The depth of this drop can be referenced against gold—at least targeting a break of the 8s. Of course, it may not happen this quickly, but over a longer timeframe, it’s very likely. So remember: recently, it’s a bearish trend—the pullback has only just begun, and it’s not over yet.
Over these past two days, I’ve reminded everyone multiple times. I said BTC hasn’t yet fallen enough—82,500 was only the start of the drop, not the end. Every rebound is an opportunity to go short. I’ve long forgotten how many times we’ve already shorted; as long as it’s a short setup, you can basically take the meat, and without exception. Yesterday, we shorted again at 83,850, took profit at 80,050, and captured another 800 points. To be honest, in this market, as long as you short, you make money. So far this month, on BTC alone, we’ve already gained 20,000 points plus. We can say we’ve easily flipped the account.
So what will happen next? First, I think it will drop to around 82,200. Then below that, it will go to the 80,000–81,000 area. And I don’t think 80,000 is likely to be the end of the pullback. After that, it may still fall. Because the support around 82,500 has been tested countless times. When a support level is tested repeatedly, it’s easier for it to break. Price lured longs back and forth around 82,500. After reaching there, it rebounds, but the rebound strength isn’t strong. A truly strong trend wouldn’t test the level many times—it would go up after one or two attempts.
Also, the rebound has never been able to hold firmly above the 85,000 resistance, and there is a large amount of liquidity above. With so much liquidity, it should be quite attractive—so why can’t price go up? It shows that the bulls are too weak; they’ve been consumed. And once 82,200 breaks, it will move into the consolidation range of 75,000–82,000. The second wave of the decline will officially begin. The depth of this drop can be referenced against gold—at least targeting a break of the 8s. Of course, it may not happen this quickly, but over a longer timeframe, it’s very likely. So remember: recently, it’s a bearish trend—the pullback has only just begun, and it’s not over yet.
