Hey everyone, just yesterday I reminded you in the community that Bitcoin would have a very hard time breaking decisively above the strong resistance zone between $80,000 and $81,500!
Sure enough, the price action once again proved the analysis right. After the Fed announced its decision to leave interest rates unchanged, the broader market failed to build on its gains and instead staged a sharp pullback.
Those in the know understand that this isn’t just a bearish reaction to the news being out of the way. The deeper story is that major players may be using the positive news to push prices higher, sell off their holdings, and shake out weaker hands along the way!
🔍 Why does the medium-term outlook still lean bearish?
Looking at the overall technical structure right now, there are several key signals worth watching closely:
1. Weak support below: The price range stretching from below $83,000 down to around $74,000 has not seen enough accumulation and lacks strong support. If the market starts to weaken, the price could drop very quickly.
2. Beware of a “Bart Simpson” pattern: After rallying from around $70,000, the price could easily meet resistance at higher levels and form a classic “Bart Simpson” pattern, falling back to its $70,000 starting point.
3. Risk of a technical rebound luring buyers in: The price may not fall all the way in one go. It will likely first retreat to around $70,000 to find support, then trigger a rebound toward roughly $77,000. If the rebound fails to break through key resistance, the overall pattern could even turn into a bearish inverse cup-and-handle, setting the stage for a larger-scale decline.
Of course, where the ultimate bottom lies will depend on subsequent macro fund flows. For now, though, the medium-term strategy should remain defensive and cautiously bearish.
💡 Made money trading crypto? How do you cash out safely?
As for my live trades, the short positions I’m currently holding remain profitable. My target is unchanged—going all out to reach $1 million U in profit!
Many people focus on chasing market moves and swing trading, while overlooking one crucial step: making money is just a number on a screen; securing it safely is what turns it into real returns.
Whenever the market makes a big move, the biggest concerns are liquidation and making profits in U only to run into trouble when withdrawing. Frequent withdrawals or using unreliable channels can easily lead to frozen bank cards or hefty losses.
While we’re on the subject, I’d like to share a “cash-out tool” I’ve been using for a long time: BiyaPay. Whether you want to cash out your funds or allocate crypto assets across global markets, it has several practical advantages that I really appreciate:
🛡️ A compliant, enterprise-grade channel—say goodbye to the worry of frozen cards
BiyaPay uses a compliant B2C (business-to-consumer) model, rather than the traditional person-to-person (OTC) matching approach. Convert U directly into fiat currencies such as USD or HKD, then withdraw to your personal bank account—avoiding funds from unknown sources at the outset.
⚡ Lightning-fast withdrawals, with funds arriving quickly and smoothly
It supports local clearing networks across many countries and regions worldwide, making withdrawals highly efficient. Funds can arrive as soon as the same day, with no delays—naturally boosting security.
🌐 Seamlessly access U.S. and Hong Kong stocks, and allocate assets with ease
It’s more than just an off-ramp—it’s also a multi-asset management platform. After depositing U, you can exchange it for fiat currency at a 1:1 rate and trade U.S. and Hong Kong stocks directly, without the hassle of opening a separate account. This makes it easy to move funds flexibly between crypto and traditional stock markets.
💰 Ultra-low fees, minimal loss
Compared with traditional brokerages and complicated transfer routes, BiyaPay involves minimal loss and can save you most unnecessary intermediary fees, so every bit of profit is accounted for clearly.
🎯 There’s never a shortage of opportunities in the market—the real challenge is having a clear strategy and a secure way to move your funds.
Will the market play out as expected from here—first dropping to 70,000, rebounding to 77,000, and then beginning a larger-scale decline? Let’s see what the market says!
I’ll keep sharing details of my live trades and my thinking behind future trades on my profile. If you find this helpful, give it a like and follow along—let’s see what the next big market move brings!
(The above is solely my personal view of the market and does not constitute investment advice. The crypto market is highly volatile, so be sure to use stop-losses and manage your risk when trading!)