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BTC is currently fluctuating roughly within the $83,500–84,500 range (intraday high around $84,400–84,500 and low around $83,500–83,700). On Thursday, the pullback and consolidation continued, with an overall correction from recent highs.
Key Levels
• Resistance: 84,500–85,000 (short term), 86,000–87,000, 88,000
• Support: 83,000–83,500, 81,500–82,000, 80,000–80,500
Directional Strategy (for reference only, not investment advice)
Bearish bias (currently receiving more attention) Consider lightly shorting when a rebound to 84,500–85,000 or near 86,000 encounters resistance. Stop-loss: above 87,000; targets: 83,000–82,000, with a further target of 81,000.
Bullish bias Consider lightly buying on dips when the price stabilizes around 83,000–83,500, or go long after an effective breakout and hold above 85,000. Stop-loss: below 82,000; targets: 86,000–87,000, with a further target of 88,000.
Range-bound strategy Sell high and buy low within the 83,000–85,000 range, with the stop-loss placed outside the range. Follow the trend after a breakout.
Risk Reminder
Volatility may increase after the pullback from the highs; light-position trading is recommended. Keep leverage low (within 2–5x), with the risk on a single trade not exceeding 2% of the account. Strictly execute stop-losses. Also monitor funding rates, ETF flows, and macroeconomic news. #BTC短线回调 $BTC
◎He shorted 2.9 million shares of ChangXin Technology (CXMT) at $6.5 per share ($18.85 million) on the day before its listing at the end of July. He was immediately trapped after CXMT opened and has remained trapped for two months, while continuing to pay hefty funding fees.
◎Today, he finally couldn't hold on any longer and began cutting his losses: he has started planning to close 2 million shorted shares ($17.04 million) via TWAP (time-weighted order) execution.