10.27 Bitcoin outlook: The rebound is weak, so favor short positions
The volume behind this overnight move was weak—it’s just a breather after the steep drop. Price is now hovering around 80,000. The daily chart shows a bearish moving-average alignment, with price capped by the averages; buyers haven’t recovered yet.
On the 4-hour chart, the Bollinger Bands are narrowing further, with price grinding along just below the middle band. This is typical of a market holding its breath before a breakout. If price can’t reclaim 81,000, don’t mistake small bullish candles for a bottom.
For trading, consider waiting for a rebound toward 81,000–81,500 to look for short entries. The initial target is 79,000, with 78,000 next if support breaks. Don’t chase without volume—wait for price to reach your levels before acting.#BitMine增持10452枚ETH $BTC $Q
The volume behind this overnight move was weak—it’s just a breather after the steep drop. Price is now hovering around 80,000. The daily chart shows a bearish moving-average alignment, with price capped by the averages; buyers haven’t recovered yet.
On the 4-hour chart, the Bollinger Bands are narrowing further, with price grinding along just below the middle band. This is typical of a market holding its breath before a breakout. If price can’t reclaim 81,000, don’t mistake small bullish candles for a bottom.
For trading, consider waiting for a rebound toward 81,000–81,500 to look for short entries. The initial target is 79,000, with 78,000 next if support breaks. Don’t chase without volume—wait for price to reach your levels before acting.#BitMine增持10452枚ETH $BTC $Q
