BTC: Short-term market still has the risk of falling back
BTC's trend began to decline in the early morning, and retreated from around $9,050, further approaching the $8,700. the lowest was around $8,738.
Based on the MACD indicator, the fast line turns head down, and it takes some time to form a dead fork. The MA5 and MA10 moving averages keep parallel, and the RSI indicator also shows a downward trend. The Bollinger Band of $9,200 upper line becomes a short-term resistance.
The short-selling proposal given now is also very close to the target profit-taking position of $8,700.
My suggestion:
The short-term market still has the risk of falling back.
It’s still a bit difficult to have a good rebound, but the upside opportunities still exist later.
Entry: $8,650-$8,750
Stop-loss: $8,500
Take profit:$8,900-$9,000
Based on the MACD indicator, the fast line turns head down, and it takes some time to form a dead fork. The MA5 and MA10 moving averages keep parallel, and the RSI indicator also shows a downward trend. The Bollinger Band of $9,200 upper line becomes a short-term resistance.
The short-selling proposal given now is also very close to the target profit-taking position of $8,700.
My suggestion:
The short-term market still has the risk of falling back.
It’s still a bit difficult to have a good rebound, but the upside opportunities still exist later.
Entry: $8,650-$8,750
Stop-loss: $8,500
Take profit:$8,900-$9,000
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