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Wednesday Morning Jing Yi's Market Outlook
Triple Negative Factors Hit Simultaneously: Middle East Conflict Resumes, Chip Stocks Plunge Collectively, US Stocks Drop Sharply, Bitcoin Falls Significantly, Liquidations Occur Frequently. Geopolitical Risks Persist, AI Capital Withdraws, BTC No Longer Acts as a Safe Haven. Currently, Bitcoin is Stuck in a Critical Range.
From the 4-hour chart perspective, Bitcoin has turned downward from above 640, with highs continuously declining, volume increasing to break through the oscillation platform, and falling to 607 before a slight rebound.
The rebound only repairs the decline; the bearish trend remains unchanged. Currently, the price is at 617, with 622-625 as the core resistance zone. It is unlikely to have upward space if it rebounds to this level.
The hourly chart shows weak sideways movement, with bulls unable to push higher, typical of a post-drop correction. Be patient and wait for a rebound before shorting again. Resistance above is strong, and the 607 low point is likely to be tested a second time.
Trading Suggestions
For Bitcoin, short positions can be arranged in the 622-628 range, targeting 615-600-586.
For Altcoins, short positions can be arranged in the 1650-1680 range, targeting 1620-1550-1460. #Gate直通IPO认购SpaceX