$BTC 85300First target achieved—the bears got the timing right this time
Guys, here’s exactly what I said in my previous post: “At this level, I’m siding with the bears.” I clearly set 85300 as the target, and said the bias would remain bearish unless price firmly reclaimed the major resistance at 85700.
Looking back now, we got the direction right this time. So far in this move, $BTC has weakened from around 85553 to 84150, a drop of about 1.64%. The 85300 target I said to watch first has been hit, and the timing was on point—we managed to catch a short-term move.
But to be clear: this is the short-term call from my previous post playing out within this move’s time frame. It’s not a long-term forecast coming true, and don’t assume things will keep going this smoothly.
Based on how this move has unfolded, I’m still leaning bearish in the short term. The reason is simple: price plunged from a high of 85573, touched a low of 83577, and is now at 84150, still below the key dividing level of 84575. Trading volume didn’t pick up during the rebound; in fact, volume over the last two hours was about 56% lower than in the preceding two hours. Buyers haven’t stepped in, which shows that bullish demand is weak.
So here’s my view: below 84575, I remain bearish, with the next target at the 83577 support. As for the upside, same rule as before: if price gets back above 85573 and holds, I’ll immediately withdraw my bearish view. No point fighting the market.
Short-term moves are just short-term moves—don’t get carried away, and keep an eye on the key levels yourself.
Original post: https://www.binance.com/zh-CN/square/post/374539567500773
Guys, here’s exactly what I said in my previous post: “At this level, I’m siding with the bears.” I clearly set 85300 as the target, and said the bias would remain bearish unless price firmly reclaimed the major resistance at 85700.
Looking back now, we got the direction right this time. So far in this move, $BTC has weakened from around 85553 to 84150, a drop of about 1.64%. The 85300 target I said to watch first has been hit, and the timing was on point—we managed to catch a short-term move.
But to be clear: this is the short-term call from my previous post playing out within this move’s time frame. It’s not a long-term forecast coming true, and don’t assume things will keep going this smoothly.
Based on how this move has unfolded, I’m still leaning bearish in the short term. The reason is simple: price plunged from a high of 85573, touched a low of 83577, and is now at 84150, still below the key dividing level of 84575. Trading volume didn’t pick up during the rebound; in fact, volume over the last two hours was about 56% lower than in the preceding two hours. Buyers haven’t stepped in, which shows that bullish demand is weak.
So here’s my view: below 84575, I remain bearish, with the next target at the 83577 support. As for the upside, same rule as before: if price gets back above 85573 and holds, I’ll immediately withdraw my bearish view. No point fighting the market.
Short-term moves are just short-term moves—don’t get carried away, and keep an eye on the key levels yourself.
Original post: https://www.binance.com/zh-CN/square/post/374539567500773