October 12
The Bitcoin market is currently controlled by bears. After hitting a low of 94050 during the early morning hours, it was subsequently pushed up by bullish forces to above 97000, indicating that there is support at this key price level. However, the drop was significant and prolonged, suggesting there may still be further downside potential in the future.
Overall, the current trend leans towards bearish, but it is worth noting that a hammer pattern has appeared on the hourly chart, which may indicate that bulls could mount a counterattack in the short term. Therefore, during the morning period, we should pay attention to the strength of any rebound and whether it can sustain; if the rebound momentum does not diminish, then we may consider continuing to short.
For Bitcoin, short at 98500, target 96000. $BTC $ETH
The Bitcoin market is currently controlled by bears. After hitting a low of 94050 during the early morning hours, it was subsequently pushed up by bullish forces to above 97000, indicating that there is support at this key price level. However, the drop was significant and prolonged, suggesting there may still be further downside potential in the future.
Overall, the current trend leans towards bearish, but it is worth noting that a hammer pattern has appeared on the hourly chart, which may indicate that bulls could mount a counterattack in the short term. Therefore, during the morning period, we should pay attention to the strength of any rebound and whether it can sustain; if the rebound momentum does not diminish, then we may consider continuing to short.
For Bitcoin, short at 98500, target 96000. $BTC $ETH
