Woke up to find my position gone—it had been stopped out. Longs took a small 1,000-point loss! As long as the green hills remain, there’s no need to worry about firewood.

Back to the charts: BTC saw a sharp, high-volume drop on the 1-hour chart, breaking below the 70,000 level and hitting the lower Bollinger Band. Bearish momentum is clear. This drop was weighed down by cross-market sentiment: Nvidia weakened and dragged tech stocks down, while hawkish Fed expectations made investors reluctant to touch high-risk assets. But the immediate trigger was the market itself: the previous rebound had no volume, and once the 70,000 level broke, stop-losses on a large number of long positions were triggered, amplifying the decline through a cascade of selling.

The market is now short-term oversold, so don’t rush to buy the dip. Even if there’s a rebound, it will mostly be a brief recovery. First watch whether the market can stabilize at the lows; the first resistance on a rebound is at 70000. If you want to participate, patiently wait for a bottoming signal on the hourly chart. Keep your position light and set your stop-loss in advance. Volatility is fierce during a sharp drop, so don’t underestimate the risk.

Trade suggestion: 70000-70500🈳, target 68000-68500.

$BTC