Today's early morning BTC analysis



Operation:
Rebound around 599, go short
First target 590
Second target 580
Down to 550

The current BTC chart shows a weak consolidation during a downward continuation, definitely not a bottoming out. The overall short-side approach remains unchanged. The more it consolidates, the higher the probability of a subsequent breakdown. It is following a typical weak decline rhythm of a downward continuation. The Bollinger Bands continue to press down, and the price is always firmly held down by the middle band. Multiple rebounds have failed to form an effective breakout, with no sign of bottoming. The current narrow range consolidation is essentially repeatedly wearing down the support at the 593 level; the more it grinds, the weaker the support. Combined with the MACD below the zero line with bearish momentum re-accumulating, RSI persistently weak, long-side buying power is getting worse. The probability of a downward breakout is much higher than an upward breakout. Once the 599 level is lost, there will likely be an accelerated decline. A rebound is a window to go short at a high point$BTC #0成本拿2股SK海力士
BTC-2.86%
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