Bitcoin perfectly matches the previously mentioned bearish trend, and it led everyone to catch the short at the highest point. Congratulations to those who held their short positions. Currently, Bitcoin has broken through the neckline of the top formation, and the downside space is officially opened. The market is expected to continue to maintain a high short position. The recommended strategy is to sell at 20400 with a stop loss at 21000, and the target is set at 19300-18800.
There is a high probability of a short-term correction in Bitcoin:
Bitcoin closed with a large bearish candlestick yesterday, indicating that the downward trend has not yet been completed.
According to the Turing Wave trading system's analysis, the five-wave uptrend of Wave A has already ended, and the retracement of Wave B has not yet formed the key point of a three-wave reversal, indicating that the current market may take an extreme one-wave form.
The resistance is located between 20400 and 21000, while the support is between 19300 and 18800.
There is a high probability of a short-term correction in Bitcoin:
Bitcoin closed with a large bearish candlestick yesterday, indicating that the downward trend has not yet been completed.
According to the Turing Wave trading system's analysis, the five-wave uptrend of Wave A has already ended, and the retracement of Wave B has not yet formed the key point of a three-wave reversal, indicating that the current market may take an extreme one-wave form.
The resistance is located between 20400 and 21000, while the support is between 19300 and 18800.
Note
Unable to break through, you can enter the market with an empty order for the time being
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.