BTC Evening Insights:
Why did it suddenly drop?
Don’t force yourself to find reasons for the drop; the market doesn’t need any excuse for falling.
There hasn’t been a significant correction during the rise from 60,000 to nearly 100,000, so now is it hard to accept a correction of 10,000 points?
Is it your thinking that Bitcoin can only go up and never down?
Then you might as well do your own thing.
Is there really a market trend that only goes up and never down? Don’t go digging through various news to find reasons for the drop; the answers you wish to know are already presented before your eyes.
According to the chart: When Bitcoin rebounds to 96,000, you could take a short position; the previous support level has already been broken, and it has now turned into a resistance level.
If it breaks down with volume at 95,000, then you could take a light short position; make sure to set the stop-loss level shown in the chart properly.
Investors who wish to go long can pay attention to around 93,600, where you could take a small long position; if it breaks below 96,000, then you must stop-loss. Left-side trading orders must be operated with light positions.
In a downtrend, there is no definite bottom to speak of. The situation after the U.S. stock market opens is still unknown.
Investors who can act prudently may wait until after the U.S. stock market opens to make decisions.
Remember to set stop-losses, set stop-losses, set stop-losses.
