The market fell back as the rebound range could not expand. The $8,000 mark has done a strong press on the BTC market. The market is hard to break this level due to the volume remained low. Moreover, the short-term market was led by the shorts. Since the market rose back, the BTC market has never challenged the $8,000 mark. Even the selling market of the 4-hours chart started getting weakened, the will of the capital kept it still. Thus, the rebound range is limited.
The current trend is still bearish, if it cannot recover $8,000 in the short-term, we should prevent the continuous drops, and prepare for the hedging strategy. As for now, long is not available. We should focus on the pressure at $8,000, long after it broken is available.
The current trend is still bearish, if it cannot recover $8,000 in the short-term, we should prevent the continuous drops, and prepare for the hedging strategy. As for now, long is not available. We should focus on the pressure at $8,000, long after it broken is available.
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