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BTC 91800: Is it a good opportunity to buy the dip, or a trap in the abyss?
This morning, Bitcoin dropped 3000 points, reaching a low of around 91800. From the 15-minute K-line chart, three bearish candles with volume indicate typical downward movement. Since last Friday, we have repeatedly emphasized that the rebound is mainly a shorting opportunity. Currently, the market is consolidating around 925, and panic is setting in again. Based on the current situation, it is still not an ideal time to buy the dip. Waiting for the right entry point is the most effective strategy; blindly chasing gains or cutting losses only for small profits is not advisable.
Main points for today:
Currently, Bitcoin and Ethereum are both supported by the daily middle Bollinger Band. Look for a slight rebound first, then consider shorting.
BTC trading suggestion: Short at 93400-93800, stop at 94500, target 91600, if broken, then look at 91000.
ETH trading suggestion: Short at 3253-3273, stop 50 points, target 3158, if broken, then look at 3120.