3.28 Things Bitcoin Taught Me: Emotions Are Worthless in the Face of Trends! Latest Analysis
The current price of Bitcoin is 66000. Recently, many crypto friends have told me that this wave of turbulence has shattered their mindset. In fact, there is no need for that; the market never explains itself to you; it only uses trends to show you who is right and who is wrong. I indicated a trend reversal from north to south at 73600, and now at 65870, it's not because I'm particularly skilled, but because I'm willing to spend time breaking down structures and waiting for signals. Take it slow, don't rush; trading is a marathon, not a hundred-meter sprint! The trend is still ongoing, and I will share the key points and entry strategies with my friends who are following me without reservation.
Looking at the daily K-line, the decline of Bitcoin has long been traceable: after dropping from 75998, all short-term moving averages began to move downwards, pressing the price down heavily. The MACD indicator has also turned from red to green, and the green bars are getting longer, indicating that the downward momentum is continuously strengthening. The price has now fallen below 66000; 70000 has become a strong resistance, and the first line of defense below is between 65000 and 66000. If it breaks down, it will continue to push southward towards the year's lowest point.
On the four-hour level, Bitcoin has broken below the support of the convergence triangle at 69000, confirming a downward breakout, with the trend direction completely pointing south. The price is under pressure below the MA20 and MA30 moving averages, and the short-term moving averages are forming a downward arrangement; after the MACD death cross, the green bars continue to expand, with DIF and DEA moving down together, providing ample downward momentum. The Bollinger Bands are opening downwards, and the price is running close to the lower band, indicating a clear downtrend. Don’t ask if it can be bottom-fished anymore; the southward trend is dominant now, and any rebound is an opportunity to go south!
Short-term thinking reference: Follow the trend of the large cycle, small stop-loss, quick entry and exit.
(Optional) Gradually move north in batches from 65000 to 66000, with a stop-loss at 64800, targeting 67000 to 68000 cautiously moving north.
Moving south from 67000 to 68000, with a stop-loss at 68500, targeting 65000 to 66000. If it breaks down, aim for 60000.
In the crypto world, it has always been the case that the early birds eat meat, the latecomers drink soup, and the unaware take over.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be a delay in the publication of this article, so it is recommended for reference only; the risk is borne by the reader.
