BTC turns down from high position
2024-12-24
Category: None


BTC is still in a five-wave downward structure, and the overall trend is bearish. Since yesterday, it has been in a weak adjustment stage in the short term, and the price fluctuation has significantly weakened. 92000 below is still a strong support level. If it falls below this position, it may pull back to the starting area of ​​the previous rise, further confirming the bearish trend. In the short term, the 4-wave low point above forms a strong suppression. If the price fails to break through this resistance, the short-term idea is still dominant.
If you have not entered the market yet, you can consider looking for short-selling opportunities in the rebound of the 95000-95600 range, and the stop loss is set near 97000. The downside targets are TP92000, TP88000 and TP86000 respectively.
In general, although the short-term price fluctuation has decreased, the weak adjustment trend has not changed. It is still necessary to pay attention to the performance of key support levels. Breaking through these supports may accelerate the callback process.
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