In the afternoon, we provided a short-selling strategy, we shorted from 95000 to 92500, hitting 2500 points!

The week started with setbacks, how to choose between long and short positions during the day?

Bitcoin experienced a sharp drop after a high in the previous trading day. What caused such a drastic decline? How should we view Bitcoin's trend in the current trading day?

On one hand, the profit-taking sentiment surged early yesterday, from 96300 to 98000 with a 1700 point movement. At the same time, a large number of profit-takers rushed out in the 98500 area, eager to cash in on their profits, causing the price to plummet like a free fall to around 92600.

After such a steep decline, how should we view the subsequent market?

The appearance of the bullish candle last week gave the bulls great hope. This week, the market has basically shown a one-sided bullish pattern, with the coin price also peaking at 99000 in the early session, seemingly bright for the bulls. However, this sudden large bearish candle mercilessly shattered the bulls' dreams. The appearance of the bearish candle, especially a single candle engulfing multiple bullish candles, is an extremely unfavorable signal. Generally speaking, under such circumstances, even if there is no continued decline, the likelihood of a direct rebound in the short term is almost negligible. Therefore, today we need to focus on the resistance level around 96000; this level is not only a key integer point but also a crucial dominant position in the previous Bitcoin rising process, with support below at 90500. This week's range trading can revolve around this range.

Based on the above analysis, after the significant drop in Bitcoin during the previous trading day, it is very difficult to reverse the downward trend during the day, so we mainly focus on short positions.

Trading Strategy:

Short Bitcoin in the range of 95200-95800, with a stop loss at 96200, daily target at 93000, with a swing target looking at around 90000, short-term traders can exit once they secure more than 1000 points. $BTC #比特币盘整分析 #比特币关键区间