Hello everyone, let's discuss and strategize for the new day with me!
Just as I predicted yesterday, BTCUSDT experienced a strong price drop with the wave of DOW theory. It is currently range-bound after yesterday's sharp decline around 68,500- 62,000.
Notably, the mentioned resistance at $68,500 is playing an important role in finding their new direction. It can be seen that this is an extremely important resistance zone, the price has pushed up here twice but was unsuccessful in breaking it. But based on the current situation, based on the perceived level of Bollinger Bands, I think Bitcoin will have to go through a sideways range in a range before there is any new movement.
It is expected that at this time the market will move within a range within which investors can look for selling opportunities. I still maintain my bullish view, however, after it completely escaped the control of the 68,500 resistance level. And you?
Your analysis aligns well with the movements we've seen, especially the struggle around the $68,500 resistance. It's intriguing to consider the sideways range as a precursor to more decisive action