11.6 BTC’s daily chart shows a bearish engulfing pattern, signaling another move lower. Market FOMO gets a reality check
Bao’s Crypto Harbor, Episode 404:
The price has fallen back to 75k. It feels like the rally the day before yesterday lifted BTC’s liquidity to another level.
Yesterday, we said to watch for an intraday pullback to 78k. But during the evening session,
there wasn’t the slightest pullback in sight. I changed my strategy from reducing my position at 78k to reducing it on a trapdoor drop.
That’s because the market showed no signs of a rebound, nor did it quickly reclaim the level after a false breakdown.
So today’s price action is expected to set a new recent low on the daily chart.
P.S.:
Long-form videos discuss trends; short-form videos explain the logic. In trading, the most valuable thing is the logic behind a trade, while entry and exit prices are the least important.
The videos I share each day are for reference only and do not constitute trading advice. Thank you for your continued attention and support for Bao’s Crypto Harbor.
Bao’s Crypto Harbor, Episode 404:
The price has fallen back to 75k. It feels like the rally the day before yesterday lifted BTC’s liquidity to another level.
Yesterday, we said to watch for an intraday pullback to 78k. But during the evening session,
there wasn’t the slightest pullback in sight. I changed my strategy from reducing my position at 78k to reducing it on a trapdoor drop.
That’s because the market showed no signs of a rebound, nor did it quickly reclaim the level after a false breakdown.
So today’s price action is expected to set a new recent low on the daily chart.
P.S.:
Long-form videos discuss trends; short-form videos explain the logic. In trading, the most valuable thing is the logic behind a trade, while entry and exit prices are the least important.
The videos I share each day are for reference only and do not constitute trading advice. Thank you for your continued attention and support for Bao’s Crypto Harbor.