Monday early-session thoughts: the overall big pie (BTC) is weak, and in operations it’s mainly about following the trend.

The weekend market has already played out, and the new week is restarting. During the weekend, negative sentiment was concentrated and released, and the market also gave clear feedback: the price fell all the way from the 78,300 area to around 73,700, marking a drop of about 4,600 points. The bearish sentiment was fully vented, and those who had stuck with a high-short strategy also successfully pocketed some room.

From the four-hour structure, after the price broke above the upper band earlier, it failed to continue, and instead fell back under pressure. Then it consecutively formed bearish candles, and it has now broken below the lower band. The moving averages are shifting downward overall, indicating a bearish bias; MACD’s death cross is pointing downward, and bearish momentum continues to expand; KDJ is also maintaining a weak arrangement— the short-term structure has clearly weakened, and there are signs it may continue probing lower.

In the morning, don’t bet against the trend; continue to follow the trend with shorts. Refer to building short positions in batches around the 74,900-75,500 area, and watch how price holds and takes over in the 72,800-71,500 area.
$BTC ‌#GatePreIPOs首发SpaceX