Strategy sells 3588 $BTC ! Can 62000 hold?


Guys, BTC just got smashed down by a piece of news from Strategy.
News Side:
Strategy officially confirmed the sale of 3588 BTC to pay digital credit securities dividends. Bitcoin reserves reduced to 843,775 BTC, while holding $2.55 billion in reserves. This is the second reduction this year, with a significantly larger scale, reflecting that the company is relying more on selling coins to maintain dividend obligations under the background of BTC price pressure and increased unrealized losses.
Technical Side:
Current price 62044, has broken below the lower Bollinger Band at 62164, short-term oversold.
Resistance above: 62500-62800, strong resistance at 63900.
Support below: 61000, if lost then look at 60000.
Gongming's View:
Strategy's sell-off is a phased negative, but the $216 million volume has limited impact on the market, more of an emotional shock. Oversold on the technical side, there is a short-term need for recovery.
Trading Strategy:
Aggressive: Go long near current price 61800-62000.
Conservative: Wait for a pullback to near 61000 before acting.
Strategy selling coins is not the first time; panic sell-offs are often opportunities.
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BTC0.42%
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