On November 12, the BTC rebound fizzled out, and bears once again took control of the market.
【Today's Strategy】
Short entry range: Set up a position on a rebound to 74000–74300
Stop-loss: Above 74700
Take-profit: Target 73000–72800
【Core Rationale】
On the 30-minute chart, price staged a rebound after probing the 72727 swing low, but quickly pulled back after hitting resistance at 74996. The rebound structure has been broken, and the broader downtrend remains intact. The MACD lines have stayed in bearish territory below the zero line throughout. During the rebound, the red histogram bars continued to shrink; they have now turned green again and are growing steadily, indicating that bullish momentum has been completely exhausted and bears have retaken control. Downward momentum is entering a second wave of expansion. The 74000–74300 area overhead is a dense supply zone formed during this rebound. After turning from support into resistance, it has become a concentrated area of selling pressure. A price retracement to this range is likely to meet resistance and turn lower, making it a favorable area to enter short. In a bearish market below the zero line, a pullback after a failed rebound often tests the previous low for support. Trading in line with the bearish momentum is therefore more consistent with the current trend.#BTC #CPI came in above expectations, putting renewed pressure on US stocks and BTC
【Today's Strategy】
Short entry range: Set up a position on a rebound to 74000–74300
Stop-loss: Above 74700
Take-profit: Target 73000–72800
【Core Rationale】
On the 30-minute chart, price staged a rebound after probing the 72727 swing low, but quickly pulled back after hitting resistance at 74996. The rebound structure has been broken, and the broader downtrend remains intact. The MACD lines have stayed in bearish territory below the zero line throughout. During the rebound, the red histogram bars continued to shrink; they have now turned green again and are growing steadily, indicating that bullish momentum has been completely exhausted and bears have retaken control. Downward momentum is entering a second wave of expansion. The 74000–74300 area overhead is a dense supply zone formed during this rebound. After turning from support into resistance, it has become a concentrated area of selling pressure. A price retracement to this range is likely to meet resistance and turn lower, making it a favorable area to enter short. In a bearish market below the zero line, a pullback after a failed rebound often tests the previous low for support. Trading in line with the bearish momentum is therefore more consistent with the current trend.#BTC #CPI came in above expectations, putting renewed pressure on US stocks and BTC
