BTC market analysis today
Yesterday we clarified the idea of looking for low points to go long and emphasized the importance of 63500. Once this support level is broken, the market will likely drop to 62000. The price did fall to 62300 last night and then rebounded by more than 3000 points, but we think this is just an oversold rebound. From a structural point of view, the market has completely broken through the previous important support level, and the trend has reversed. The best strategy in the current rebound stage is to go short.
There are currently two main trend possibilities in the market: one is the callback to the 53300-70000 wave of rise, and the other is that the rise has ended, and it may continue to fluctuate and fall, or even reach a new low, entering a small bear market. Based on these analyses, today's operating idea is to seize the opportunity to go long on the callback, while deploying short orders at high levels to flexibly respond to market fluctuations.
