$BTC Wind over Water (Huan), Xun above and Kan below. Wind blows over water, dispersing before gathering again. The Huan hexagram says not to rush into taking sides—wait for a rebound to resistance before shorting. I won't chase the price in the middle of the range.
Bitcoin is currently around 80,790, with a 24-hour high of about 81,280 and a low of about 79,466. It's hovering just above 80,000. Yesterday's close had been above 80.8k, but the price hit resistance near 81.3k and pulled back. The FOMC decision window starts tonight (around 2:00 a.m. on 10/29 Beijing time for the decision, followed by the press conference at 2:30 a.m.). Volatility could pick up, so I'd rather wait for the chart to give me a clear setup.
I'm leaning toward waiting for a rebound to 80.9–81.4k and scaling into shorts:
Entry: 80,869 / 81,280 / 81,368 (scale in across the range)
Stop-loss: 83,200 (with some extra buffer beyond the structure)
Take-profit 1: 79,466
Take-profit 2: 78,549
Take-profit 3: 77,500
Take half off at the first take-profit and move the stop-loss to breakeven. If it doesn't rebound, I won't trade. If the daily candle closes above 83,200, this plan is invalidated. The next key date to watch is Lidong (Start of Winter) on November 7.
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With wind blowing over water, do you think Bitcoin will first surge to 81.3k and give you a short entry, or drop to 79.5k first?
Follow me for updates. These are my personal views, not investment advice.
Bitcoin is currently around 80,790, with a 24-hour high of about 81,280 and a low of about 79,466. It's hovering just above 80,000. Yesterday's close had been above 80.8k, but the price hit resistance near 81.3k and pulled back. The FOMC decision window starts tonight (around 2:00 a.m. on 10/29 Beijing time for the decision, followed by the press conference at 2:30 a.m.). Volatility could pick up, so I'd rather wait for the chart to give me a clear setup.
I'm leaning toward waiting for a rebound to 80.9–81.4k and scaling into shorts:
Entry: 80,869 / 81,280 / 81,368 (scale in across the range)
Stop-loss: 83,200 (with some extra buffer beyond the structure)
Take-profit 1: 79,466
Take-profit 2: 78,549
Take-profit 3: 77,500
Take half off at the first take-profit and move the stop-loss to breakeven. If it doesn't rebound, I won't trade. If the daily candle closes above 83,200, this plan is invalidated. The next key date to watch is Lidong (Start of Winter) on November 7.
Hey everyone, I've been shortlisted for the Emerging Creator category in the Top 100 Creators of the Year awards. If you have a moment, please head to the bottom of my profile and vote for me (you can vote every day)~ There's a little gift for everyone who votes.
With wind blowing over water, do you think Bitcoin will first surge to 81.3k and give you a short entry, or drop to 79.5k first?
Follow me for updates. These are my personal views, not investment advice.
