Resistance: $84,200. A rebound to this level faces pressure, which is a selling point.
Support: $81,100. Falling below this level will accelerate the decline; stop-loss is necessary.
If you want to sell, go short: wait for the price to rebound to around $84,200 and stop rising before taking action. If you want to exit, set a stop-loss: if the price breaks above $84,650, admit mistake and exit. Where to look for a decline: first watch $82,000; if broken, then watch $81,100.
Don't guess the bottom; before the trend reverses, bottom-fishing = catching the knife.
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Resistance: $84,200. A rebound to this level faces pressure, which is a selling point.
Support: $81,100. Falling below this level will accelerate the decline; stop-loss is necessary.
If you want to sell, go short: wait for the price to rebound to around $84,200 and stop rising before taking action.
If you want to exit, set a stop-loss: if the price breaks above $84,650, admit mistake and exit.
Where to look for a decline: first watch $82,000; if broken, then watch $81,100.
Don't guess the bottom; before the trend reverses, bottom-fishing = catching the knife.