We turned bearish at 82K and broke down below 60K, but this time the selloff is so fast that it exceeds our expectations,



Current price is around 62K with narrow-range consolidation. If the daily K-line can hold above 61K, I personally think it can move upward and rebound to repair,

After that, start a 2-3 month range-bound consolidation between 60K and 70K, and then break below 60K to begin building a bottom. Currently, RSI is seriously in an oversold zone, and the funding rate has turned negative. Below 61K, there are no liquidations,

If 60K breaks and the daily chart does not reclaim 60K, then the above view does not hold, and it will instead consolidate and build a bottom below 60K,

I do not recommend that everyone chase shorts near 62K. The resistance levels on the smaller timeframes are 64.5K and 67.5K$BTC
BTC-2.64%
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