Afternoon Crypto Market Report: The Market Takes a Sharp Turn, Strategies First
Hello everyone! Good afternoon! The update is a bit late this morning due to other commitments.
Last night’s market crash was something we emphasized in both live broadcasts, reminding everyone to manage their risk. We even specifically told the brothers last night to closely monitor the daily support level at 94500. If this support is breached, it could trigger a deep correction at the daily level.
As it turns out, the daily level has indeed broken today, dipping as low as 92700 to form a spike.
This means Bitcoin is about to embark on a correction at the daily level; right now, we are only witnessing a minor level struggling to support a rebound. Everyone should watch for resistance levels above: 95355 and 96122.
When the rebound approaches these two levels, consider entering a short position.
If the four-hour close successfully breaks above 96122, then the short position must be manually exited. This means that at least the four-hour closing must firmly stay above 96122 for the market to shift to a bullish trend. If it doesn’t close above, be cautious about bullish expectations.
If it fails to rebound to the above two resistance levels, then pay attention to the support level below at 94200.
As long as the one-hour close breaks below 94200, this rebound will be declared over. From the moment it breaks, the market will continue to decline, officially starting the daily correction journey. At that time, the support levels of 92700, 89727, and 84880 need to be closely monitored.
