BTC has fallen back deeply. Can we buy the bottom now?

It is said that the sharp fall of BTC last night was caused by the negative comments of the big guys. I don’t know whether it is true or not, but the market has indeed fallen back sharply, especially for other currencies except BTC, which has created a small currency disaster.

BTC itself does have the need to adjust and consolidate after breaking through the upper resistance, and the Nasdaq has also fallen back sharply. The Nasdaq generally shows a wide range of fluctuations and repeated retracements at the bottom. BTC does not have the conditions for a big rise, it is just a range oscillation, which I have always emphasized. It is normal for BTC to fluctuate around 100,000, and the corresponding Nasdaq is also a similar trend, but the extent of BTC’s decline last night did exceed the normal retracement, especially for other currencies, which should indeed be affected by a certain degree of news.

I did make a mistake in judging the market last night, and the long orders I recommended were stopped. Although there was a sudden negative news, this mistake must be admitted. Last night, I estimated that it was a fluctuating retracement trend, and it continued to rise after the retracement. In the range-oscillating market, it is easy to be slapped in the face whether you chase long at high or short at low. It is safer to try to arrange long or short orders at the upper and lower edges of the range.

I still think that BTC is in a range-oscillating market, 93000-106000, and it is difficult to break the smooth unilateral market of the range in a short time. In addition, I still think that the Nasdaq is still bullish after repeated retracements. Therefore, the current price is still suitable for arranging long orders on dips, and try to do it in batches. A gradual position building strategy can be adopted at 92500-94500, rolling buying and reducing positions to reduce the cost of holding positions.

You can also wait and see if there are more negative news, and wait patiently for a lower buying position. #加密市场回调 $BTC