Market Analysis - BTC
🔍According to the daily chart, the critical price range determining the direction of the market for today is at 20,300-19,400.
‼️At present, the price is still in range fluctuation, which is unfavorable for bull trading activity.
👆🏻If it falls below 19,400, it is still possible for the market to test the 17,500 mark.
There are no obvious trading opportunities today with current market conditions.
💡We should focus on intraday trading, and trade based on the 1H and 4H charts.
🔍According to the 4H chart, the technical indicators and prices continue to decline but have stayed out of oversold levels, indicating that there is still room for an accelerated price decline at any time today 📉🔜
‼️On the 1H chart however, prices have dipped into the oversold zones and are expected to see greater fluctuations during Asia trading hours.
💡Clearer market direction will likely be seen when the European and American trading hours begin.
💡Continue to hold short positions.
‼️If the price at the daily closing does not continue to fall (i.e., the candlestick chart on the daily chart is green), exit all short positions and observe the market instead.This post is based on this twitter thread.