Choking sideways! $BTC is 'nailed' at the support level, the giant whale is silent, tonight it may explode at any moment!
Brothers, today when I opened my eyes, the crypto market staged an exciting scene! BTC, like a roller coaster, suddenly dropped from around 89500 to 85146, falling over 5%! Those with weak hearts almost got thrown off the ride.
But right after that, the price violently pulled back above 86400, forming a standard 'golden needle bottom' pattern!
Long and short positions are in a stalemate, on the eve of a showdown: The three colored lines (moving averages) on the chart are almost flat and stuck together, what does this indicate?
It indicates that both the bulls and bears are currently hesitant to act, but the smell of gunpowder is already in the air, and a direction may be chosen to take action at any moment!
Personal opinion strategy:
Bulls: Wait for the price to firmly stand above 86500, and for the trading volume to significantly increase (with strong buying pressure) before considering joining in.
Bears: Focus on this support level around 85000. If the price breaks below here again and the rebound is weak, then the rebound will provide an opportunity for you to enter a short position.
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