In yesterday's short essay, the overall idea was sound, but the entry points were problematic. The price hit a low of 66500 early this morning, but the support range I gave was 67000-67400. It has now rebounded to a high of 68200, and seems to have upward momentum.
Will it rise today? Or is it just a rebound? Here's my view: one upward standard, one downward standard.
The upward standard is that the price can break through and hold above 68100, which isn't too demanding. But if even this isn't achieved today, then it will continue to adjust, adjusting to the key lower support level I mentioned yesterday, the range of 65100-65600.
The downward standard is that the price encounters resistance and falls back, making a hesitant downward move. If it effectively breaks below 67100, then the rebound is over, and it's time to short. Let's wait and see the price action within the 65100-65600 range.
Okay, we have two criteria. So, what's the current outlook?
Based on the current price movement, I'll be watching for potential buying opportunities around 67500. If there are, I'll take advantage of the risk management. If not, it means the bears might be gaining momentum. I hope it can hold, because yesterday, from my perspective, I wanted to see this wave push it to the 70300-70900 range. This would allow the bulls to recover more quickly. Otherwise, it might drag on, leaving you bored and uncertain.
There's not much more to say. In short, whether it's a strong upward push or if the major players continue to manipulate our psychology, we'll basically see today. I just want to say, a drop is okay, it's an opportunity. And a rise isn't worrying either, it will come down again to give you another chance. #CryptoMarketRebound #TrumpStateofUnionAddress