Li Zhongyi: BTC price is running out of steam, where should we look in the short term? BTC layout entry strategy
Let's look at the market review first. BTC pulled back around 5,000 points during the European session last night. Lao Li also gave a tip here yesterday. If 9w is not completely stabilized, it will fall below the short-term support of 88,000 and wait for the end of the pullback to be bullish. It entered the market near 87,000 yesterday and exited at 88,220. Back to the current price of BTC at 89,026, observe that the MACD24 bar chart gradually moves downward, indicating that the bullish momentum is weakening. The daily Bollinger Bands fell below the upper track and returned to the range yesterday. Since the position of 58,900, the BTC price has been in the middle and upper track for a month. Many friends will have questions when they are chasing the rise. When will the pullback come? Lao Li's judgment is that the recent rounds of pullbacks are just the beginning. There will definitely be a big and deep pullback before the interest rate cut in December. While the market is looking at the bulls, the dealers can also see that they are not philanthropists, but only focus on survival and development. For institutions, how can they talk about profits without waterfalls? That's it. Those who still don't understand, think deeply about it!