Blessed_V

Will Bitcoin continue to fall?

Short
Blessed_V Updated   
BITSTAMP:BTCUSD   Bitcoin
BTC: Judging from the daily chart, the market was super negative yesterday, which seems to mean that its direction is chosen. Even if there is a rebound trend after the plunge, both in terms of the strength of the rebound and the time of the rebound, the bulls are basically defenseless at present, and as the rebound trend gradually consumes the rebound momentum, the height of the rebound will also decrease.

On the 4-hour chart, the market has returned to the structure of the third wave again, and the decline has been strengthened and confirmed. Now that the third wave is not in place, the probability of continuing to fall is relatively high.

And on the fundamentals, the risks still tend to be downside due to the ongoing concerns about the ongoing cryptocurrency crackdown by US regulators.

Therefore, in terms of operating ideas, it is mainly based on rebound shorting, and the height of the rebound can be appropriately reduced, so don't easily try to make a profit from the rebound.

BTC: 20800-20900 short, target 20100-20000

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Trade active:
At present, Bitcoin is rebounding upwards. Please pay attention to the rebound space. After reaching the target, you can choose to enter the market with empty orders. Don't easily try to do long at low positions.
Trade active:
wait patiently for an opportunity
Trade active:
Wait patiently for the target point, and don't worry about participating before the target point arrives.
Trade active:
Hunting often requires more patience
Trade active:
Judging from the strength of the rebound, Bitcoin's desire to rebound is not strong
Trade active:
Wait patiently for the opportunity to short
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