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$BTC Wednesday morning BTC analysis
The BTC market is still bouncing within a range. The approach given yesterday was an empty/short strategy; although the price action moved a bit slowly, it still provided three opportunities. Today, we continue to watch for downside. To maintain the overall trend, short while under pressure and act accordingly as the market fluctuates—only then will you be able to handle it with ease.
After a surge to 64691, the price kept falling. The moving averages have turned downward, the upper Bollinger Band is clearly capping the price, there is heavy selling pressure at high levels, short-term bulls are struggling, and with prices under pressure it’s difficult to rebound.
Trading idea: Short near 643–639; target 630–625.