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Is Bitcoin about to drop again?
Yesterday, Bitcoin failed to break above 65,500 and continued falling, breaking below 64K again, with bears once more taking the dominant advantage
With crude oil falling and the upcoming rate-setting meeting, why did Bitcoin drop first?
My view hasn’t changed—this is just the surface situation. It’s a short-term reduction in risk exposure, a washout of the earlier long positions
With recent data acting as a negative catalyst, continue to buy the dip and look for a rebound
Today the price is near 63K—this is the key support area of the prior 4-hour adjustment waiting period, and it has come
Keep a close watch on whether this level holds to stop the decline. I’ll continue to buy the dip and look for a rebound here
This is the final key support area. Once it breaks the 4-hour starting point at 62.5K, it would undermine the trend that can continue higher, and the market would then look toward 60K
The hourly chart is still bearish. In the short term, there’s no fundamental stimulus, and price action will continue with weak, range-bound fluctuations at the hourly-chart level
For the short term, you can consider shorting at 64.5–64.7K resistance
【Bitcoin section—just personal trading views and sharing, not any investment advice】
$BTC
{spot}(BTCUSDT)