Friends!! The crash of Bitcoin has officially begun! Can it reach the 70k level? Will next week’s market turn around completely???

Bitcoin is approaching the high-pressure zone of 83k, and after failing to push higher, it’s directly entering a sharp correction. Currently, this is just the beginning of a downward trend. After this round of correction, the market is likely to target the 77k level. No need to look too far in the short term; focus first on the key range between 79.5k and 80k.

At this moment, I personally suggest that it’s not suitable to blindly short the market. Every time there’s a strong rebound, it’s a good opportunity to follow the trend and open short positions. The overall larger downward rhythm is very likely to unfold gradually after next Wednesday. Referencing the key timing, Thursday has an important meeting scheduled for Yellow Hair. Historically, before such news lands in the crypto and US stock markets, the markets don’t move smoothly. There’s a high probability of one or two small rebounds or corrections along the way.

Therefore, there’s no need to be overly aggressive with the current shorting strategy. By around next Wednesday at the latest, we will re-enter short positions at suitable levels based on the market. According to past market patterns, after major meetings, US stocks tend to show a rally followed by a correction, and the crypto market will follow suit and weaken. The last long-term position with Jin An made a small profit of about 4,500. There shouldn’t be much problem this round either, with the target first set around 77,000. If it breaks below, continue to look further down.

Wishing everyone successful trading!!
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