BTC Market Analysis: Overall Direction Bearish #BTC
Daily Level: Price has reached the intersection of SMA20/50, which is also near the midline of last week's highs and lows, and near the midline of last month's highs and lows, providing some support 4H Level: EMA20/50 has not yet produced a death cross, but the K-line is already running below EMA200, undoubtedly a bearish trend Summary: Although a turning point 9 has appeared, according to my previous trading habits, I would definitely have opened long positions, but this time I'll skip it and look for opportunities to short with the trend. I won't chase this rebound as the risk/reward is too large😂
BTC Market Analysis: Overall Direction Bearish #BTC
Daily Level: Price has reached the intersection of SMA20/50, which is also near the midline of last week's highs and lows, and near the midline of last month's highs and lows, providing some support
4H Level: EMA20/50 has not yet produced a death cross, but the K-line is already running below EMA200, undoubtedly a bearish trend
Summary: Although a turning point 9 has appeared, according to my previous trading habits, I would definitely have opened long positions, but this time I'll skip it and look for opportunities to short with the trend. I won't chase this rebound as the risk/reward is too large😂