6.2 Bitcoin: The bears are going crazy! If 71,000 can't hold, it will head to 70,000



$BTC
Yesterday's plunge was really brutal! Dropped straight from 74,000 to 70,650, now struggling around 70,800. Looking at this candlestick chart, starting from yesterday's high of 74,177, it’s been a continuous decline without looking back, and those few small bullish candles in the middle are just trap candles, a slight rebound gets suppressed even harder.

Entry: Around 715, buy the dip, with a target of 719. Watch 705-690.

Important reminder:
This Friday (June 5th), the non-farm payroll data is a risk event of nuclear level! The market is already pricing in expectations of worse-than-expected non-farm data. If the data really exceeds expectations, Bitcoin will accelerate its decline, and 65,000 won't be able to stop it.

Now, contract positions must not exceed 10% of total funds, and every trade must have a stop loss. Do not hold through losses! Do not hold through losses! Do not hold through losses! Three times for emphasis.

Many people are already caught bottom-fishing at 71,000—don't be the next. Be patient and wait for the bears to finish, or wait until after the non-farm data is released to look for opportunities #美伊谈判博弈
BTC-3.89%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned