10.9 Bitcoin $BTC
After breaking down from around 83,000, the price plunged to a low of 80,344. It fell more than 2,000 points without a meaningful rebound. The Bollinger Bands have fully opened and are spreading downward, with bears firmly in control. The small rebound underway is merely a continuation of the downtrend, with nowhere near enough strength to reverse it.
If the price rebounds into the 82,800–83,000 range, enter a short position. This is the lower edge of the consolidation range that was just broken; it has now become a strong resistance zone. Selling pressure from trapped holders and bears is likely to converge here, making a breakout unlikely. Place your stop-loss above 83,300. The initial downside target is 81,000–80,800; if the previous low is decisively broken, the price could probe even lower. #美参议员调查CantorFitzgerald与Tether关系
After breaking down from around 83,000, the price plunged to a low of 80,344. It fell more than 2,000 points without a meaningful rebound. The Bollinger Bands have fully opened and are spreading downward, with bears firmly in control. The small rebound underway is merely a continuation of the downtrend, with nowhere near enough strength to reverse it.
If the price rebounds into the 82,800–83,000 range, enter a short position. This is the lower edge of the consolidation range that was just broken; it has now become a strong resistance zone. Selling pressure from trapped holders and bears is likely to converge here, making a breakout unlikely. Place your stop-loss above 83,300. The initial downside target is 81,000–80,800; if the previous low is decisively broken, the price could probe even lower. #美参议员调查CantorFitzgerald与Tether关系