This on-chain accumulation is interesting: they bought up 5,000 Bitcoin outright for $570 million. This address has never chased prices during a euphoric rally; it only picks up coins during pullbacks. Price is around 73,897, and bears still dominate the market. The moving averages are acting as resistance, the MACD has formed a death cross, and bullish momentum has yet to kick in. As I dropped off the last meal at the security booth, another debt collection call made my pocket vibrate like crazy. I didn’t answer; I kept watching the liquidation map. Long liquidations are clustered around 72.5k below, while highly leveraged shorts are lined up between 74.5k and 75.5k above. Price will probably dip first to sweep liquidity.
For trading, favor shorts over longs; don’t chase the middle of the range. If a rebound to 74,300–74,500 meets clear resistance, consider a small short position, with a stop-loss at 75,800 and an initial take-profit target around 72,500. If price plunges into the 72,500–72,200 range and wicks down without breaking through, reverse into a long, with a stop-loss at 71,500 and a take-profit target at 74,500–75,500. Close the position there and don’t get greedy.
$BTC
#Zcash自9月以来首次跌破1000美元
For trading, favor shorts over longs; don’t chase the middle of the range. If a rebound to 74,300–74,500 meets clear resistance, consider a small short position, with a stop-loss at 75,800 and an initial take-profit target around 72,500. If price plunges into the 72,500–72,200 range and wicks down without breaking through, reverse into a long, with a stop-loss at 71,500 and a take-profit target at 74,500–75,500. Close the position there and don’t get greedy.
$BTC
#Zcash自9月以来首次跌破1000美元
