Bitcoin has just experienced a rapid decline, dropping from 79,455 directly down to 77,700.
This kind of sharp drop is the easiest to throw off your rhythm—fearing a rally when shorting, fearing further drops when bottom-fishing, ending up getting hit from both sides.
Trading doesn't have to be so exhausting—first look at the trend, then signals, set proper stop-losses, control position sizes, and leave the rest to the market.
Market analysis
2-hour timeframe
BTC encountered resistance at 79,455 and pulled back, currently breaking below the short-term moving average, disrupting the bullish rhythm.
* Resistance around 77,960 above
* Key support at 76,890 below
* If it can't quickly regain the midline, further downside is still possible
30-minute timeframe
Short-term consecutive bearish candles broke support, with a clear bearish arrangement, and the rebound strength is relatively weak.
* Currently oscillating around 77,700
* Resistance concentrated at 78,200-78,400 above
* If the rebound lacks volume, it is likely to face resistance and fall again
Trading ideas
Short position reference:
* Short around 78,200-78,400
* Stop-loss at 78,800
* Target 77,200-77,000, if broken look at 76,800
Long position reference:
* Long around 76,800-77,000
* Stop-loss at 76,400
* Target 77,700-77,900, if broken look at 78,400