Cloud Sharing Midday Market Analysis: #Cloud Sharing Research Institute
A decline occurred over the weekend evening, with Bitcoin 70500/71500 short positions yielding considerable profits. BTC dropped in response to further escalation of the Middle East conflict, directly breaking through the 70000 USD level and currently hovering around 69000.
If the Middle East conflict continues, Bitcoin will find it difficult to sustain breakout rallies. At this stage, we expect a range-bound trend.
The 4-hour level support is around 66000. Based on this trend, we anticipate several months of consolidation. If BTC breaks below 60000, there could be 10000-20000 USD of downside space. There are many bottom-fishing opportunities this year, but not at the present moment. Bitcoin is only suitable for dollar-cost averaging; ignore other tokens. For existing positions, reduce and exit on rallies as the main strategy. Regarding precious metals, gold has declined recently, but the uptrend remains unchanged, with a bullish outlook ahead. This year, one can position in some equities and quality derivatives. For specific details, follow the spot group within the community. For futures trading, follow community strategies as the main approach with intraday trading being the primary method.
Cloud Sharing Midday Market Analysis: #Cloud Sharing Research Institute
A decline occurred over the weekend evening, with Bitcoin 70500/71500 short positions yielding considerable profits. BTC dropped in response to further escalation of the Middle East conflict, directly breaking through the 70000 USD level and currently hovering around 69000.
If the Middle East conflict continues, Bitcoin will find it difficult to sustain breakout rallies. At this stage, we expect a range-bound trend.
The 4-hour level support is around 66000. Based on this trend, we anticipate several months of consolidation. If BTC breaks below 60000, there could be 10000-20000 USD of downside space. There are many bottom-fishing opportunities this year, but not at the present moment. Bitcoin is only suitable for dollar-cost averaging; ignore other tokens. For existing positions, reduce and exit on rallies as the main strategy. Regarding precious metals, gold has declined recently, but the uptrend remains unchanged, with a bullish outlook ahead. This year, one can position in some equities and quality derivatives. For specific details, follow the spot group within the community. For futures trading, follow community strategies as the main approach with intraday trading being the primary method.