【Bearish trend firmly set! 66000 is the real opportunity】
Bitcoin has arrived at the anticipated level around 72000, where there's support and resistance, and the pace of decline has slowed down.
Let's take a look at where Bitcoin stands; it's currently stuck at the upper boundary of the previous range. There is support, but the rebound strength is clearly weak, and a significant divergence hasn't appeared, so it's likely to continue probing for a bottom.
The closest support is near the lower edge of the flag pattern around 71000, and I expect to see some resistance here, which should be stronger than the current rebound. The resistance pressure is expected to be around 75600, which is at this parallel line.
But regardless, the downward trend has already been established, and I wouldn't recommend going long until we hit the descending trendline support at 66000 (previously around 68000, the slant will change).
You can see that this wave of market action only occurred after breaking the descending trendline extending from last year's 10.27, which allowed it to escape the range and accelerate briefly to 82850. Therefore, the first pullback here will definitely be the best defense position for the bulls, and a decent rebound is anticipated.
At that time, we will update our analysis promptly based on market changes, and the first information will be shared in the community, so make sure to stay tuned and don't fall behind!
Trading advice: BTC wait around 66000 dollars to see if we can jump in; the current phase is still bearish, and we cleared our positions above 82000 dollars. Right now, we are in a cash position, and our copy trading account is open; feel free to follow, account name: 【Unstoppable Dream】
#BTC走势分析 $BTC #Sui网络宕机近六小时 $ETH
Bitcoin has arrived at the anticipated level around 72000, where there's support and resistance, and the pace of decline has slowed down.
Let's take a look at where Bitcoin stands; it's currently stuck at the upper boundary of the previous range. There is support, but the rebound strength is clearly weak, and a significant divergence hasn't appeared, so it's likely to continue probing for a bottom.
The closest support is near the lower edge of the flag pattern around 71000, and I expect to see some resistance here, which should be stronger than the current rebound. The resistance pressure is expected to be around 75600, which is at this parallel line.
But regardless, the downward trend has already been established, and I wouldn't recommend going long until we hit the descending trendline support at 66000 (previously around 68000, the slant will change).
You can see that this wave of market action only occurred after breaking the descending trendline extending from last year's 10.27, which allowed it to escape the range and accelerate briefly to 82850. Therefore, the first pullback here will definitely be the best defense position for the bulls, and a decent rebound is anticipated.
At that time, we will update our analysis promptly based on market changes, and the first information will be shared in the community, so make sure to stay tuned and don't fall behind!
Trading advice: BTC wait around 66000 dollars to see if we can jump in; the current phase is still bearish, and we cleared our positions above 82000 dollars. Right now, we are in a cash position, and our copy trading account is open; feel free to follow, account name: 【Unstoppable Dream】
#BTC走势分析 $BTC #Sui网络宕机近六小时 $ETH