On Wednesday, October 16, Jiang Wei analyzed that the high point of Bitcoin has been reached and is under pressure above, suggesting a short position for long-term viewing.

CN
2 months ago

October 16, Wednesday

Where do you find children crying every day, where do you find coin prices rising every day?

Yesterday, the price surged strongly, then faced resistance and reversed, followed by a rebound from the bottom support. The market can be described as a roller coaster 🎢. I wonder how many retail investors have been ruthlessly washed out? As for the current trend, I won't say much; it's already good enough to still exist in the market!

Currently, in the daily chart pattern, the price continues to test upwards near the upper track. If the price cannot stabilize above today, then the bulls will end, and a new round of decline will begin, especially since most of the longs have already been liquidated.

Therefore, during the day, feel free to short in the 67500-67800 range, with a target of 65000.

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