Yesterday it was said that this is not a position to chase shorts, wait for a rebound.
$BTC The market is also very cooperative—there is no rebound, just a continued downward grind. Today's low touched 68153, and the current price is hovering around 69000, unable to go higher, nor has there been a significant breakdown.
This kind of movement has a name, called "grinding people down".
It's not a big drop, it doesn't give the thrill of shorting; no rebound, it doesn't provide the opportunity to bottom fish. It's just wearing down both sides' emotions, and then finding a time when no one is paying attention to choose a direction.
During this time, the most common mistake is "not being able to resist". Either bottom fishing near support or chasing shorts without a clear signal.
The common point of these two operations is: neither is waiting for structure, both are driven by emotion.
The real structure hasn't been given yet.
Looking upwards, 70000 to 70500 is currently the most valuable area for entering short positions. If the rebound can't get above here, then we can only continue to wait, we cannot chase; looking downwards, around 68000 is short-term support, once it effectively breaks, 67300 is the next target, and then comes the 66000 we've always mentioned.
But at the current position—between 68000 and 69000—neither side has an absolute advantage, which is precisely the least suitable time to place heavy bets.
Wait until the direction is clear, don't gamble on "possibilities".
The market gives money under conditions: patience is one of the most important ones.
#BTC #比特币 #Market Analysis📈