BTC has experienced more than five days of shocks. When investors are numb with shocks, we need to maintain patience and sobriety as we always pay attention to the situation, because the short-term situation is about to face a change! In this round of “rebound” that began on February 8th, we can see that the market is unfolding at the rhythm of blasting, oscillating, then blasting, then oscillating, and then blasting, which reminds me of a certain stage of 18 years. The control method is also very regular.
In the upswing, the first phase of the shock is maintained by Structure A (downward channel) and in the second phase by Structure B (rising triangle). Now there may be some people who think that the current situation is only an adjustment in the upswing, and in the medium term, This does not prevent us from intervening in short-term short-selling strategies. The current situation of BTC needs to pay attention to the two resistance areas in the rebound. First resistance zone: $3,850 Key resistance area: $3,950 Only when the price breaks through the key resistance zone, my bearish view in this cycle is wrong.
The oscillating pattern will always change with time. If you refer to the first resistance barrier, it will form a descending triangle structure; if the price can continue to rebound, it will form a regular rising channel. Referring to the time period of the previous shock structure, I think the current shock is coming to an end, just two days today. Regardless of the market, the trading plan can be short at these two resistance levels! Because the profit and loss ratio is suitable! Use small stop loss to capture big profits, this is the foundation! But I personally prefer to fall at 3850.
The above does not constitute investment advice, only provides trading ideas. I wish you all the best!