The largest cryptocurrency has been falling rapidly this week, breaking the 
92K level, turning it into resistance. Currently, the 200-day moving average is located around 
82K and seems to be the next target for the price.
However, the RSI has entered the oversold area, indicating that the market is increasingly overtaken, and it is only a matter of time before it experiences a rebound or at least a short-term bullish reversal. However, for the first case, the asset must first return to the92K level.
From the 4-hour chart, it is clear that the price has been making new lows in the past few months since being rejected by the $109K resistance.
Although both the $100K and92K levels have been lost, the price may still rise back to the $80K line in the next few weeks. However, with the RSI showing a clear oversold signal, a pullback or correction is likely in the short term.
This market is cruel, and often the big good trading opportunities are prepared and cognitive traders. Think back to whether you are so.
Many people suffer losses due to trading mistakes, cannot find their own trading methods, seize market opportunities, do inappropriate entry points, and become lambs to be slaughtered in the market. If you have always been like this and cannot change, I advise you to leave this market, otherwise you will be deeply trapped in it.
If you are confused and cannot get out, I am waiting for you here!
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD
92K level, turning it into resistance. Currently, the 200-day moving average is located around 82K and seems to be the next target for the price.However, the RSI has entered the oversold area, indicating that the market is increasingly overtaken, and it is only a matter of time before it experiences a rebound or at least a short-term bullish reversal. However, for the first case, the asset must first return to the
92K level.From the 4-hour chart, it is clear that the price has been making new lows in the past few months since being rejected by the $109K resistance.
Although both the $100K and
92K levels have been lost, the price may still rise back to the $80K line in the next few weeks. However, with the RSI showing a clear oversold signal, a pullback or correction is likely in the short term.This market is cruel, and often the big good trading opportunities are prepared and cognitive traders. Think back to whether you are so.
Many people suffer losses due to trading mistakes, cannot find their own trading methods, seize market opportunities, do inappropriate entry points, and become lambs to be slaughtered in the market. If you have always been like this and cannot change, I advise you to leave this market, otherwise you will be deeply trapped in it.
If you are confused and cannot get out, I am waiting for you here!
BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD Note
Great, 87200 short selling plan, the price has fallen below 85000, the profit target has been completed 3000+, the order is closed, no greed, no fear of every transaction, this is the trading rule of the market. Don't fantasize that filling in orders can gain wealth freedom. What we need to do is to choose the right direction, have a firm mindset, and let ourselves grow step by step.The next step is to publish accurate buying and selling information to achieve financial freedom. Please leave me a message.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.