Analytics

BTC: As Long As It Doesn’t Soar $7,380, Still Go For The Short

BTC: As Long As It Doesn’t Soar $7,380, Still Go For The Short

Binance Research found that 92.1% of respondents hold funds on the exchange; 32.9% have assets in cold wallets; 18.4% use hot wallets, and investors who choose custody services only Accounted for 2.6%. From 4 hours chart, the bottom is stable. The market started the “V” reversal began to rise all the way. Last night it reached around $7,370.
As far as the line is concerned, the weekly K-line and the MA have been oversold, and they need to rebound and repair in the near future. The indicator shows a bullish trend, but the volume has contracted, the rebound momentum has slowed down, and the $7,400 pressure level is concerned above.
The 15-minute chart shows that the MACD red energy column is increasing, and KDJ has formed a dead fork. It will also pull back in a short time. The following focus is on support near $7,000.

If the daily K-line can be broken below the mid-rail MACD, then the bulls are just a small bounce, we will not change the trend of the short.

Key Points:
Short: $7,250-$7,300
Target $7,000-$6,900
Stop loss $7,380

Entry: $6,850-$6,900
Target $7,050-$7,150,
Stop loss 6800

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