BTC UPDATE: Breakdown Occurred, What to Do Now?
The market is chaotic again. BTC briefly dropped to **$87,787** due to the Japanese bond crisis + liquidation of $1.8B. Now it's just catching its breath around $89.5K.
Current Technical Facts:
✅Trend: Still down (bearish). All EMAs (20, 50, 200) are above the price.
✅Breakdown: Key support $89,250 HAS ALREADY BROKEN. This is the new level to watch.
✅Momentum: RSI oversold, MACD still negative. The bounce now is just a technical correction, not a reversal.
Crucial Levels:
· New Resistance: $89,500 - $90,000 (former support now becomes a wall).
· New Support: $87,787** (latest low). If this breaks, target **$85,000.
· Game Changer: Price must close above $92,300 to invalidate the downward bias.
What Do Derivative Data Signal?
· Funding Rate dropped to 0.005% → long euphoria is starting to fade.
· CVD still negative → institutional selling pressure is still there.
· Open Interest remains high (~100K) → the big war isn't over yet.
Current Opportunity? NO TRADE / BE PATIENT.
The reason is simple:
1. For SHORT: Still too close to support ($87.7K). Risk/reward is poor. Just wait if it goes up again close to $90K.
2. For LONG: Better not. Counter-trend in the middle of a storm. Don’t FOMO buy just because it’s cheap.
Most Likely Scenario (70%):
Price will try to catch a breath up to the area **$90K-ish**, get rejected, then return to retest the low $87,787. If that low breaks, it will drop straight to $85K.
What Should Be Done?
1. Sit tight for now. Don’t enter the market if the setup is unclear.
2. Wait for the price to reach close to $90K. Look for rejection signals (red pin bar, high volume) to set up a SHORT.
3. **If $87,787 breaks with a strong candle**, you can join SHORT with a target of $85K.
4. Forget LONG until there is strong reversal confirmation (at least close above $91.2K).
The point is: The short setup yesterday was profitable. Now it's a phase of consolidation & accumulation. Patience is the weapon. Wait for the market to give confirmation again.
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