The big opportunity for the bears has arrived, $BTC plummeted dramatically by over 7000 points

$BTC Significant pullback, is the opportunity for the bears coming?

Hello everyone, it has been a while since I seriously wrote an analysis. Most of the reason should be known to everyone, being trapped in a short position. During this time, I have been focused on trading to recover, so I haven't been able to post in the forum. Now that my account balance is slowly warming up, I will summarize the trading taboos I have committed this time. First: resisting positions is one of the most foolish behaviors in this round. Second, knowing that the market has reversed, it is better to follow the trend without overthinking. However, when the obsession is too deep, one will go against the market. These two points are the most fatal mistakes I have made in my trading over the years. Third, after experiencing losses two to three times, I couldn't control myself at the bottom and completely forgot the trading system, leading to a breakdown in mentality. Seeing a price level, I just entered, which undoubtedly is a good recipe for liquidation. Sometimes, knowing that I am wrong, being able to turn around in time is something we traders need to exercise restraint on. Perhaps this is a harsh lesson for my trading career, and I hope everyone can take it as a warning.

I will take more time to share my personal views with you all later. If there are any expressions that are incorrect, I hope everyone can point them out in time, so we can learn from each other and discuss together.

Currently, Bitcoin has dropped from a high of 99660 to around 92700. I remember also warning about the short position to pay attention to the level around 93000 this morning, as this level has certain support strength. From the chart below, we can see that the current Bitcoin price is around 94800. This position belongs to the bottom of the upward trend line that was broken earlier. In fact, this position is still worth betting on for a short.

From the daily chart, we can see that the MACD fast and slow lines are about to form a death cross above the zero axis, with the green energy bars shrinking and declining. The RSI has also been in the overbought zone for a long time and is starting to converge. The KDJ three lines have formed a death cross and are expanding downward. It is important to pay attention to the actual breakdown situation around 93000 below; if this level is effectively broken, a new downward trend may come.

The resistance levels above are around 94800 and 95000. At these two levels, we can directly participate in a short position, and we may need to exit a large portion around 93000 below or take profits. The specific strategy is as follows:

Current price of Bitcoin 94750-95000 short position entry, stop-loss at 95800, target 93000—89800
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