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BTC continues its downward trend

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Today, BTC fell below 64,000. As I drew the downward trend line, the price will continue to fall along the downward trend line in the short term. Our main trading idea is to sell when the price rebounds to the upper resistance range, and be cautious when buying at the bottom. The rebound after yesterday's decline was not strong enough, so no long orders were opened. Today, we still need to capture safe profit opportunities based on market dynamics.

Trading suggestions: If the price rebounds to the 65,900-65,400 range and encounters strong resistance, you can sell, with a target of 63,500-64,000

The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
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There is currently a large resistance above 63300, and the price may rebound. Aggressive investors can buy at the current price, with a target of 64800-65000
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The price is still rising, and it will take time to reach 64500
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The price fell below 64,000 yesterday, and the lowest point fell to around 63,400. It is currently in a rebound phase. From the daily chart, the price has fallen below the 50-day moving average, and the 10-day moving average has crossed the 20-day moving average to form a dead cross, which is an obvious bearish trend. As the trend line I drew in the figure, the price turned down when it rose to the trend line. The current price is still a standard downward trend. Therefore, the safest trading strategy is to wait for the price to rebound to the position where the upper trend line and the resistance range overlap and short.

Trading suggestions: At present, you can pay attention to the resistance range of 64,900-65,300. If the price rebounds to this range and encounters resistance, you can sell it. The target is 64,000-63,700

The above suggestions are for reference only. I will update the market analysis in my guidance group at any time
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The price is gradually approaching the downward trend line, and it is likely to rebound to the trend line and then start to fall.
Chart PatternsTechnical IndicatorsTrend Analysis

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