If the rebound can't break $7,000, BTC may fall below $6,750
https://www.tradingview.com/chart/T4dJcKED/
Even if the trend of last night is defined by the hour level, it is not a decline. At best, it is a small-level pullback, which aims to correct the increase after the rebound on Thursday. It should be a profitable short-term trading category.
From the perspective of the current trend, the short-term heavy selling volume is nearing its end. The probability of effectively falling below $ 6750 in several hours is low. However, compare with the bullish volume on 16 April, the expanded bearish volume is still lower, means that still have some profitable positions in the market, if they choose to leave, price will decline.
If the rebound is difficult to stabilize above $ 7,000, or the trend continues to fluctuate around $ 6750, the market outlook is possible to drop to above $ 6500 and then finds support. The trading philosophy is still dominated by shorting at top and longing at bottom. The entry and exit points are selected near the key support or resistance, and it is forbidden to hold the order for too long.
🚀BTC Trading signal: Pre-condition: hourly rebound can't return to 7100
short: open around 6900~7020
close 1: 6750
close 2: 6650
close 3: 6550
stop loss: 7100 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
Even if the trend of last night is defined by the hour level, it is not a decline. At best, it is a small-level pullback, which aims to correct the increase after the rebound on Thursday. It should be a profitable short-term trading category.
From the perspective of the current trend, the short-term heavy selling volume is nearing its end. The probability of effectively falling below $ 6750 in several hours is low. However, compare with the bullish volume on 16 April, the expanded bearish volume is still lower, means that still have some profitable positions in the market, if they choose to leave, price will decline.
If the rebound is difficult to stabilize above $ 7,000, or the trend continues to fluctuate around $ 6750, the market outlook is possible to drop to above $ 6500 and then finds support. The trading philosophy is still dominated by shorting at top and longing at bottom. The entry and exit points are selected near the key support or resistance, and it is forbidden to hold the order for too long.
🚀BTC Trading signal: Pre-condition: hourly rebound can't return to 7100
short: open around 6900~7020
close 1: 6750
close 2: 6650
close 3: 6550
stop loss: 7100 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
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