【Bitcoin Plummets, Re-testing Around 80,000】
Review: These days, Dan has been saying that around 860 is the last defense zone for the bulls. Once it breaks down, it will re-test the vicinity of 80,000. The first test around 860 had some support and rebounded, but the rebound strength was quite weak. It also indicated to the brothers that if a false breakout resistance signal appears in the 89,000-90,000 range, they can short, targeting 860. If it breaks below, just hold on. Today, as wished, it has dropped by 9,000 dollars!!!
So in the current market, if there are no short positions, it’s best not to enter for now. You can wait for some rebounds to short or take some small short-term trading opportunities for a rebound.
Going Long: Currently, it is close to the previous low at 806, but the liquidity at this low point has not been swept away yet. So for the brothers who want to go long later, consider this position. However, it's best not to place limit orders for long. It’s better to wait for a spike below 806 and then stabilize above 806 before going long for some rebounds. But just a rebound, don’t fantasize about it rising to 90,000 or 100,000.
Going Short: The best position for shorting right now is in the 863-869 range, which is the support-resistance exchange position + the Fibonacci 0.618 of this segment. However, it may not necessarily provide this opportunity, so let’s observe first. If there’s an opportunity, take it; if not, just watch $BTC
