10.26 Uncle Chen’s BTC market outlook
The weekend break below 80000 opened up room for further downside. There was an initial short-term rebound early this morning, but it met resistance at 81000, then weakened again and dipped to 79300.
My current view: In the short term, there’s likely to be another modest pullback for consolidation. Once the pullback stabilizes, a rebound may follow, with a target around 82000.
Go long at 79200–78700
Defense at 78000#BTC
The weekend break below 80000 opened up room for further downside. There was an initial short-term rebound early this morning, but it met resistance at 81000, then weakened again and dipped to 79300.
My current view: In the short term, there’s likely to be another modest pullback for consolidation. Once the pullback stabilizes, a rebound may follow, with a target around 82000.
Go long at 79200–78700
Defense at 78000#BTC
