11.5 Bitcoin has plummeted sharply. A one-sided trend has formed, and the bears are expected to continue to probe lower.

CN
2 hours ago

Every cycle sees some people leaving, while others respond calmly; the market is always fair. So, if you can navigate it with ease rather than rolling and crawling, the first requirement is sufficient insight and judgment about the market direction. Next is position sizing and risk control. If you can achieve these points, congratulations, you have already surpassed half of the participants.

As we all know, BTC's price plunged again yesterday until early morning, directly breaking the 100,000 mark, with the price dropping to around 98. After hitting this low, the price rebounded, which was expected; it cannot keep falling indefinitely. Only through price fluctuations can we better experience larger-scale movements. Regarding yesterday's trend, you either align with the direction or do not participate. The worst-case scenario is to implement risk control. These three options allow you to remain in the market. The only unacceptable situation is to be wrong about the direction without risk control, which is what I referred to earlier as those who leave the cycle.

Currently, there is no need to elaborate too much on the technical aspects. In the face of trends, all technical analysis seems superfluous. The overall pattern is a unilateral decline, so we should follow the trend. A rebound means shorting, and it is definitely the right move. Therefore, today's strategy is to look bearish.

You can look for bearish opportunities around 102400-102900, with the first target at around 100500 and the second target at around 98500. These levels are for reference only.

Follow the public account, "How to Relieve Worries, Only Jiang Wei," a treasure analysis blogger with high emotional value. He shares trading education for free, bringing stability and clear guidance in the restless trading market, having navigated through three rounds of bull and bear markets and years of practical trading experience. He specializes in naked K, trends, Dow theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, gathering them into his unique insights.

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