A u 6.25$BTC Morning Thoughts



Market Interpretation: The recovery trend after the previous major drop has already weakened. It has repeatedly faced resistance and failed to reach new highs. Short-term moving averages simultaneously form strong resistance. This rebound is merely a weak consolidation during the downtrend. The incremental momentum of bulls continues to fade, market selling pressure is accumulating, and the bearish trend dominates.

Trading Strategy: Set short orders in the rebound range of 613-618. First target 605-590. If it effectively breaks, you can follow the trend to see new lows. Stop loss defense is uniformly set at 625. Based on the resistance of the moving average, go short following the trend.
BTC-2.33%
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