【Bulls are left with tears in their eyes】
BTC
Things have indeed been tough for the bulls lately. The rebound has been weak and feeble.
Looking at the futures data, it seems the bulls and bears are competing. But the objective price action tells a different story: “The bulls are trying really hard, but it’s not doing much. The bears push just a little, and the price immediately breaks through like a hot knife through butter.”
In the current market, after the daily chart broke below 757, the support before the vacuum zone below is 725, while the key resistance above is 757. This range of over 3,000 points has been really grueling to trade. The candlesticks are quite erratic. It’s better to trade less and wait for the market to become clearer.
To break it down further, the resistance levels above are 75/757/764.
Personally, I still feel that trying for a long position here offers better value. But I already tried a long on the left side of the chart the day before yesterday. I was only slightly in profit before my stop was swept. I don’t want to try again for now. If I do, it would be better to wait for a break above the trendline and then consider entering on a retest.
For those shorting with the trend: since you didn’t enter when 757 broke down a few days ago, the plan for now is simply to wait and see whether there’s a chance to enter on a pullback.
$BTC #韩国拟准交易所疑遭黑客停充提
BTC
Things have indeed been tough for the bulls lately. The rebound has been weak and feeble.
Looking at the futures data, it seems the bulls and bears are competing. But the objective price action tells a different story: “The bulls are trying really hard, but it’s not doing much. The bears push just a little, and the price immediately breaks through like a hot knife through butter.”
In the current market, after the daily chart broke below 757, the support before the vacuum zone below is 725, while the key resistance above is 757. This range of over 3,000 points has been really grueling to trade. The candlesticks are quite erratic. It’s better to trade less and wait for the market to become clearer.
To break it down further, the resistance levels above are 75/757/764.
Personally, I still feel that trying for a long position here offers better value. But I already tried a long on the left side of the chart the day before yesterday. I was only slightly in profit before my stop was swept. I don’t want to try again for now. If I do, it would be better to wait for a break above the trendline and then consider entering on a retest.
For those shorting with the trend: since you didn’t enter when 757 broke down a few days ago, the plan for now is simply to wait and see whether there’s a chance to enter on a pullback.
$BTC #韩国拟准交易所疑遭黑客停充提
