The patience to wait, the courage to open positions, the boldness to hold large positions, the determination to maintain positions, the decisiveness to cut losses, and the firmness to take profits are all at the core of trading. Finding what suits you best is the most important thing—whether it's long-term, short-term, or ultra-short-term; some make profits while others incur losses. First and foremost, you must understand yourself.

Hello everyone, I am trader Gege. Bitcoin has fallen below 100,000. From the sharp drop at the beginning of October to the subsequent fluctuating decline, are the bulls feeling desperate? This is the market; there are no perpetual rises, no eternal declines, and nothing lasts forever. Fluctuations are the norm in the market. If you are a proponent of one direction, there will be times of abundance and times of scarcity. Let’s simplify the technical analysis.

Let me reiterate my previous views on bull and bear trends, which remain unchanged. Pay attention to the 90,000 level. If it breaks and fails to rebound and stabilize at 100,000, the probability of entering a bear market will be very high. Conversely, if it can rise above 110,000, there may be another wave of new highs. During the pullback and washout in March-April at the beginning of the year, I was continuously reinforcing the belief in the bulls in my articles. That was during a bull market, but now I am not as confident; it’s more about watching and assessing as we go.

The weekly candlestick of Bitcoin has broken below the MA60 for the first time since the rise that started in mid-2023, which is noteworthy. However, it has not yet broken the upward trend line, and the MACD double lines are nearing the zero axis. If it can find support and turn upward, even crossing upward, it wouldn’t be too bad for the bulls. If it can break out, there will at least be a decent rebound wave. We are approaching an important moment: whether we will explore again and consolidate at the bottom or continue to break down and enter a bear market is imminent. Therefore, my trend trial position suggestions will also be initiated accordingly.

The daily Bollinger Bands have fully opened to the downside, and there may still be a period of accelerated movement. For trial positions, wait for the 91,000-90,000 range. If the market shows signs of stopping the decline, start entering. If there is no sign of stopping, after a false break below 90,000, wait for it to return and stabilize in the 90,000-91,000 range before entering. If it breaks below 90,000 and continues to decline, or if it fails to stabilize after a recovery, then abandon the trial position. Specific operations should be flexibly adjusted based on real-time conditions.

The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss spaces accordingly. Specific strategies should be based on real-time conditions, and you can consult for more details.

Alright, friends, we will say goodbye until next time. I wish everyone success in their trading endeavors and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time advice, find Gege.

Written by / I am trader Gege, a friend willing to accompany you in your resurgence.

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