#BTC reaches the support zone, beware of rebound

6 days ago

📊#BTC reaches the support zone, beware of rebound📈

🧠From a structural perspective, we fell below the blue resistance zone and reached the stage support zone, so there is an expectation of rebound, but we fell below the inflection point of 83675, which means that the probability of our continuation of the bullish trend has decreased, and we are likely to fall below the inflection point of 82999. So what we need to focus on today is the shorting opportunity after the rebound reaches the overlapping resistance zone.

➡️New long opportunities need to pay attention to two supports around 81779 and 79689.

⚠️Note that we should not be too optimistic before we break through the blue resistance zone. I did not participate in the short trade of BTC because shorting ETH is more cost-effective, and it also quickly reached the target area today.

Let's take a look👀

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5 days ago

Trade active

Long trade ends, short trade activates

5 days ago

Note

📊#BTC decline expectations still exist📉

🧠From a structural perspective, the yellow support area near 83,000 is still relatively solid. As time goes by, we have digested the selling pressure of the blue resistance area in a horizontal consolidation manner, so the probability of us making in-depth adjustments from around 85,000 is reduced. If it continues to break upward, the resistance area worthy of our attention is 86,100-87,000.

➡️From a graphical perspective, an ascending triangle is formed here. Generally, we continue to rise according to this model, which also means that the upward trend is about to end.

➡️Because I am worried that we may not be able to fall below the support of 83,000 smoothly, I manually reduced my holdings once near 83,900 yesterday, and then bought back the reduced positions at 83,619. Today, I reduced my holdings again near the same position, which is currently in a risk-free state.

⚠️Now we need to observe the situation where either side is broken, pay attention to the short-selling opportunities in the resistance area, and the long-selling opportunities in the support area.

4 days ago

Trade closed manually

Breakeven point reached, order closed

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