BTC has fallen below 83,000. This time, I’m keeping a closer eye on 80,000!
I’m still leaning bearish on this BTC pullback.
BTC failed to break through convincingly near $87,000, and the price has weakened ever since. Now even the area around $83,000 is being tested, which suggests short-term buying support isn’t strong enough.
My plan is clear:
$83,000 is the first level I’m watching. If BTC rebounds, climbs back above it, and holds there, I’ll reassess my bearish outlook. But if the rebound can’t reclaim that level, I’m more inclined to view this rally as a weak bounce.
Below that, I’ll first watch how support holds around $80,000.
If I take a short-term short position, I’ll only consider an entry after a rebound is rejected and that rejection is confirmed. I’ll limit my initial position to one-third of my planned size and place my stop-loss above the confirmed rebound high. I won’t blindly chase the price down.
This time, I’m not in a hurry to guess the bottom. I’d rather see whether $83,000 turns from support into resistance.
I’ll come back in a few days to review how this plays out.
Do you think BTC will hit $80,000 first, or reclaim $83,000 first?
$BTC
#BTC #Bitcoin #比特币
I’m still leaning bearish on this BTC pullback.
BTC failed to break through convincingly near $87,000, and the price has weakened ever since. Now even the area around $83,000 is being tested, which suggests short-term buying support isn’t strong enough.
My plan is clear:
$83,000 is the first level I’m watching. If BTC rebounds, climbs back above it, and holds there, I’ll reassess my bearish outlook. But if the rebound can’t reclaim that level, I’m more inclined to view this rally as a weak bounce.
Below that, I’ll first watch how support holds around $80,000.
If I take a short-term short position, I’ll only consider an entry after a rebound is rejected and that rejection is confirmed. I’ll limit my initial position to one-third of my planned size and place my stop-loss above the confirmed rebound high. I won’t blindly chase the price down.
This time, I’m not in a hurry to guess the bottom. I’d rather see whether $83,000 turns from support into resistance.
I’ll come back in a few days to review how this plays out.
Do you think BTC will hit $80,000 first, or reclaim $83,000 first?
$BTC
#BTC #Bitcoin #比特币