Bitcoin price dropped below $7,000. what will be the next?

17 дек. 2019 г.

According to market statistics, Bitcoin dropped to US $ 6,839 in the afternoon of December 16, with a minimum fall of 3.46% in one hour, and is now reported at 6,890. The mainstream digital currencies generally followed the decline, of which ETH and EOS fell the most, both close to 7%

I believe that this round of decline is more like technical market behavior.

From a long-short game perspective, the bears have always had an absolute advantage. According to the contract big data released today, the average long position ratio of BTC accounts is 28.11%, and the average short position ratio is 16.88%. At present, the question that everyone is more concerned about is whether BTC will continue to fall.

I think that BTC has already broken down in a triangle today, and the first support below is $6,500, so there are two possibilities for the next market:
Stopped around $ 6,500 to $ 6,700 and formed a new, larger level of consolidation or a new low level.

Short-term operation recommendations
1: If rebound, do short order $6,940-$6,960, target $6,850-$6,800, look at $6,650. stop loss $7,020
2: do long orders near $6,820-$6,850 and looking at $7,150. stop loss $6,750,

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