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Bitcoin currently exhibits a clear bearish pattern. From a technical perspective, the daily ADX indicator exceeds 42, and on the 4-hour chart, it even surpasses 50. The price has already broken downward, and the previous bullish arrangement has completely collapsed. All these point to a clear signal: the bearish force dominates.
Regarding current trading opportunities, there are two strategies to consider. One is to short on rebounds, and the other is to follow the trend and short directly. The key support zone is around 88,000 to 88,500, while 90,000 to 90,500 serves as resistance and shorting points. For stop-loss placement, exit above 91,000.
Looking at targets, the first target is 88,000, the second target is lowered to 86,500, and the ultimate target points to the range of 75,200 to 75,500. Overall, there is little resistance for the bears; as long as it does not break above 91,000, there is a chance to head straight to 75,200.
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75,200... Dare to really drop to that level?
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I'm watching the 91,000 line closely; if it breaks, I'll run.
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Rebound and then crash? I might as well go short directly, there's no resistance anyway.
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The bullish arrangement is completely gone now; it all depends on how deep the bears can push.
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Feels like the bottom around 88,000 isn't very stable.
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Below 90,500 is like a knife; who dares to catch it?
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ADX over 50+ is a bit intense; bears are definitely not joking.
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Heading straight to 75,200, do you believe it or not? I’m a bit nervous anyway.
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High shorting and chasing shorts, I choose to chase shorts; this wave is just a crash.
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75,200 is so far away, how many times would it need to shrink in between...
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ADX is already over 50, is this serious or just a fake-out?
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It's more satisfying to smash directly than to chase rebounds. Who still waits for a rebound?
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If 88,000 can't hold, it will break through directly. That's nothing anymore.
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Is 91,000 a natural barrier? It feels a bit too absolute...
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The bears are comfortable, and the bulls are completely beaten down.
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There are so many target levels, can it really reach all of them?
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Chasing short or not chasing short, it mainly depends on the amount of funds. Small investors should follow the trend.
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I'm exhausted from breakouts, all these indicators are just lies.
Whether to chase the short or rebound and short depends on your mindset. I think it's safer to wait until the 91,000 break before taking action.
The 75,200 target feels a bit greedy. Let's first hold on to the 88,000 level.