On October 17, Bitcoin continues to decline, and today may be the last opportunity for bulls to escape the peak.

CN
22 hours ago

Bitcoin continued to plunge yesterday. To be honest, it's no longer surprising. A market fluctuation of 4-5 thousand points happens every few days. How many retail investors can withstand such risks? There are plenty of players stuck at higher levels. To avoid risks, I believe the best choice is not to participate in the evening trading. Have you noticed that the daytime trend is relatively stable? Once it hits the evening, it becomes chaotic. For those who are on the right side, it's a windfall, while those on the wrong side face an endless abyss. I say all this to offer some advice to friends who have made the wrong call: if you're uncertain about the direction, implement risk control, so you don't end up with no way out. Now, let's discuss the market trend.

The price in the four-hour rhythm faced pressure and fell back after testing the upper track, forming a large bearish candle, and directly dropped to the lower track, causing the lower track to start turning downwards and forming an opening. Fortunately, the price has not broken down and stabilized below, indicating there is still a chance for an upward movement. Today might be the best escape opportunity for bulls. For those who are not too deep in losses, if there is a rebound today, make sure to exit. The current price is near the lower track and is starting to show signs of moving upward. The MACD indicator shows weakening bearish momentum, suggesting a short-term upward trend is about to begin.

Therefore, I suggest looking for a bullish opportunity around 108200-107800, with a target near 111500. These points are for reference only; actual trading should take precedence.

Follow the public account, for what can relieve worries, only Jiang Wei.

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