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#BTC has dropped 30% and finally shows a hint of a rebound, which is encouraging but we can't be complacent because a rebound doesn't necessarily mean a trend reversal. After the rebound, it could continue to fall, which is quite common. So where can we take profits this time?
$BTC $SPCX 2. Currently, $BTC 's resistance is very clear, around the mid-resistance near 65k and the strong resistance near 68k. At these two levels, you can consider selling some of the spot holdings bought during the dip, then buy back after a pullback to lower the average cost. However, the rebound may not be smooth; don’t expect a straight line up. There could be many fluctuations or even a second bottom, so patience is needed.
3. In just one day, the situation has shifted from offensive to defensive. Right now, the most anxious aren't those who bought the dip, but rather those who didn't buy during the dip! They didn't buy during the sharp decline, and now they’re anxious about the rebound, possibly only chasing the high. So, thinking about it now, isn’t it fortunate that we bravely bought the dip? Congratulations~
4. Additionally, Bitcoin's decline is gradually weakening. As shown in the chart, the previous drop from 126,000 to 81k was 45,000, and the second wave from 98,000 to 60k was 38k. This time, the decline might be less than 30k, and dropping from 82k to just over 50k could be the bottom.
5. However, I still have some concerns about next week’s market because Elon Musk’s IPO-related negative news is quite significant. On the other hand, the US-Iran situation is also turbulent; a sudden war or reaching an agreement could happen at any time. So besides the K-line, the market trend is largely influenced by unpredictable positive or negative news, and we can only accept this uncertainty and prepare mentally.
6. Overall, our bottoming around 60k for various coins has been very successful. We’ve already started to see some profits. If the price rises a bit more, we can sell some for a wave profit, and if it continues to fall, we have enough ammunition to enter the market, ready to attack or defend. I believe all the waiting will not be in vain. Let’s wait patiently for the bull market, and see you at the peak!