The market fell back as the rebound range could not expand. The $8,000 mark has done a strong press on the BTC market. The market is hard to break this level due to the volume remained low. Moreover, the short-term market was led by the shorts. Since the market rose back, the BTC market has never challenged the $8,000 mark. Even the selling market of the 4-hours chart started getting weakened, the will of the capital kept it still. Thus, the rebound range is limited.
The current trend is still bearish, if it cannot recover $8,000 in the short-term, we should prevent the continuous drops, and prepare for the hedging strategy. As for now, long is not available. We should focus on the pressure at $8,000, long after it broken is available.
The current trend is still bearish, if it cannot recover $8,000 in the short-term, we should prevent the continuous drops, and prepare for the hedging strategy. As for now, long is not available. We should focus on the pressure at $8,000, long after it broken is available.
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.
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.