🪙 Bitcoin Market Analysis and Trading Strategy
Market Overview Current Bitcoin price is reported at 86880, still within a downward trend channel, overall trend is weak. The price is nearing the short-term support range, with bulls and bears contesting in this area.
Key Price Levels
● Resistance Range: 87100 – 87200, a key resistance for short-term rebound;
● Support Range: Core support is at 86700, if breached, it may drop to the 86400 – 86000 range, caution is needed for further pullback risks.
Strategy Layout
1. Buy on Dips for Long Positions
● Trigger Condition: Price stabilizes in the 86700 – 86650 range and shows support signals;
● Take Profit Target: 87050 – 87200;
● Stop Loss Setting: Below 86550, to guard against false support risks.
2. Short on Resistance after Surge
● Trigger Condition: Price rebounds to the 87100 – 87200 range and is clearly resisted, showing a reversal pattern;
● Take Profit Target: 86800 – 86700;
● Stop Loss Setting: Above 87350, to avoid false breakout signals.
3. Chase Shorts on Volume Breakout
● Trigger Condition: Price effectively breaks below 86700 support, confirming the breakout;
● Take Profit Target: 86400 – 86000;
● Stop Loss Setting: 87000, to control the risk of a breakout pullback.
