3-18: Two major ideas for the second half of the Bitcoin cycle!

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5 hours ago

This column focuses on sharing major mainstream cryptocurrencies such as BTC/ETH/EOS/XRP/ETC/LTC/DOGE. Follow the public account "Yanbi" to avoid getting lost and enjoy more service guidance.

After Bitcoin broke below the 8.2 support level,

There are mainly two scenarios to consider for the latter half of the night:

Scenario 1: Short-term perspective:

After breaking below 8.2, the old thinking applies. If a rebound test is needed, it will be a support-to-resistance conversion. Therefore, the key focus for the latter half of the night is on 8.2. If the rebound cannot hold, a short position can be aggressively considered.

Scenario 2: Cyclical perspective:

If Scenario 1 is successfully validated, then a further pullback will test the bottom of the weekly high at the 80,000 mark. The mid-line reference below is 8.03-7.97, with a defensive level set at 7.85.

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