10.8 Market Analysis

The evening market for Bitcoin has experienced particularly large fluctuations, with a direct drop from high pressure leading to a fall of nearly 4000 points from the peak, reaching a low of around 120700. The upward trend that had lasted for several consecutive days suddenly stopped, and the price fell again. From the four-hour candlestick chart, there have been two consecutive large bearish candles, with the price dropping directly from the upper track to the lower track, breaking through many previous support levels. It is now clearly a one-sided downward trend, indicating a reversal in the market.
Although it seems that the short position is not declining much now, it is still recommended to go long when the price is low. The key is to see if the 120,000 level can hold; if it cannot hold, there may be further significant drops.
Operation suggestions
Bitcoin can oscillate between the range of 120500 to 121000, with a target of seeing 123000-123500.
The concubine can fluctuate between 4450 and 4470, with a target of around 4600-4650. #BTC再创新高