11.12 Chen Fei talks about cryptocurrency

The market for Bitcoin (BTC) has started bearish today, with a continuous decline from the high point around 89970, currently near the 85000 position, dropping about 5000 points. The bearish trend is fully opened, and technically, the Bollinger Bands are gradually widening. The market is forming three consecutive bearish candles at the lower band position, and the overall lower channel is gaining strength. The KDJ indicator is opening downward in a bullish trend, and the MACD is also showing an increasing bearish trend. Therefore, I suggest that during the rebound, it is advisable to go short.

Bitcoin (BTC)

Direction: Short position

Current price: 86500～86700

Take profit: 85500～85000

Stop loss: 87300

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