At 9 a.m. this morning, a huge red candle worth 280 million U slammed the price down to 62,006. At 10 a.m., another 220 million U pulled it straight back up to 65,111, erasing most of that candle in an hour. It’s now hovering around 64,900.
The volume on the rebound was lower than on the drop. Most likely, weekend order books were thin and short positions got squeezed out, while there wasn’t as much spot buying support. The 200-week moving average is around 68,000, still 3,000 bucks away. If the price doesn’t get back above it before the weekly candle closes at 8 a.m. Monday, this morning’s move only counts as a pause in the decline.
62,006 is my line in the sand; if it breaks, I’ll keep waiting. I’m not chasing this morning’s rally unless we get back above 68,000.
#比特币跌破200周均线 $BTC
The volume on the rebound was lower than on the drop. Most likely, weekend order books were thin and short positions got squeezed out, while there wasn’t as much spot buying support. The 200-week moving average is around 68,000, still 3,000 bucks away. If the price doesn’t get back above it before the weekly candle closes at 8 a.m. Monday, this morning’s move only counts as a pause in the decline.
62,006 is my line in the sand; if it breaks, I’ll keep waiting. I’m not chasing this morning’s rally unless we get back above 68,000.
#比特币跌破200周均线 $BTC
