👀 Two scenarios to watch
Scenario ①: Oversold bounce (current RSI6 = 18.95, in oversold territory)
1. Trigger: The price stabilizes, stops making new lows, and gradually recovers
2. What to watch: Whether it can test the 77500 resistance zone
- If it rebounds to around 77500 and the candlesticks show stalling momentum or long upper wicks: the rebound is facing resistance, and the existing downtrend may continue
- If it holds above 77550 on rising volume: the 5-minute trend may shift from bearish to bullish, making it reasonable to consider going long again
Scenario ②: Continued breakdown
1. Trigger: The price breaks directly below 77000 on sustained rising volume
2. What to watch: A test of the 76386 low
- If it finds support near 76386, closes with a long lower wick, and stops making new lows: it may be forming a short-term bottom
- If it decisively breaks below 76386: the decline may continue; watch for deeper support and avoid trying to catch the falling knife from the left side $BTC
Scenario ①: Oversold bounce (current RSI6 = 18.95, in oversold territory)
1. Trigger: The price stabilizes, stops making new lows, and gradually recovers
2. What to watch: Whether it can test the 77500 resistance zone
- If it rebounds to around 77500 and the candlesticks show stalling momentum or long upper wicks: the rebound is facing resistance, and the existing downtrend may continue
- If it holds above 77550 on rising volume: the 5-minute trend may shift from bearish to bullish, making it reasonable to consider going long again
Scenario ②: Continued breakdown
1. Trigger: The price breaks directly below 77000 on sustained rising volume
2. What to watch: A test of the 76386 low
- If it finds support near 76386, closes with a long lower wick, and stops making new lows: it may be forming a short-term bottom
- If it decisively breaks below 76386: the decline may continue; watch for deeper support and avoid trying to catch the falling knife from the left side $BTC