As the script says, it fell below 40k
No matter how many people praise and support, no matter how much abuse and opposition, the price finally fell below 40k, taking away the liquidity here, now we should focus on the price action and proceed according to our plan.
The violent bulls who hold positions can focus on the last line of defense at 38.5k. If the Great Yin K breaks through 38.5k, they should leave the market. Other bulls who hold positions should reduce their positions near the current price. The violent bulls who do not hold positions can wait for the price to get close again. Buy on the right side at 39.4k, and bet on a false breakout twice. After all, the 1H level decline volume is already decreasing. Aggressive bulls can wait for the price to fall below 39.4k, then withdraw it in a short time and then enter long orders on the right side. Conservative bulls will wait. After standing firm for 40.2k, cut on the right side.
Pulling from this year's historical high to the lowest point this morning, 0.618 falls near the VAL of the consolidation range after breaking through the box. If the price stands back at 40.2k, there will be an opportunity to backtest here, which is near above 45k. This is also a long position. The first take profit target.
For short positions, if the position cannot be stabilized after pulling back to around 40.2k, you can continue to add short positions. If the position is back to 40.2k, you should take profit and leave the market or make a partial profit, and wait for a new opening position. For short positions, Said that one should pay attention to the price action near the POC 42.7k of the consolidation triangle before the decline and the profit stop level of 45.3k for the bulls just now.
I personally don’t like to watch the market and prefer left-side trading strategies. Trading strategies are time-sensitive. All comments do not constitute any investment advice. I wish you all good luck~
