The market dropped after an increase, and the BTC market has broken the $8,000 mark. Even the market tried to rebound, but it has run below the $8,000 mark. We should notice that the market now is led by the shorts. In addition, the rebound could not recover the level of $8,000, so the rebound is weakened. Moreover, the press came with the moving averages above and the $8,000 mark will limit the rebound range. Besides, the MACD in the daily chart continued indicating bearish, which means the buying market is still worse.
In the short term, the downtrend and the weakened rebound does beneficial to the shorts. If the market cannot be held at the level of $8,000 in the short term, we need to be careful about the continuous drops and focus more on the support at $7,600. Hedging will be important in this case.
BitOffer Options is the best hedging tool I've ever seen. For any investor who is the first time to hedge your Bitcoin trading, it is the easiest way to hedge. Search BitOffer or contact me to know more about it.
In the short term, the downtrend and the weakened rebound does beneficial to the shorts. If the market cannot be held at the level of $8,000 in the short term, we need to be careful about the continuous drops and focus more on the support at $7,600. Hedging will be important in this case.
BitOffer Options is the best hedging tool I've ever seen. For any investor who is the first time to hedge your Bitcoin trading, it is the easiest way to hedge. Search BitOffer or contact me to know more about it.