$BTC BTC Who held up during this evening's sharp drop? From 79,000 crashing down to 76,500, it completely caught long positions off guard! This decline wasn't caused by technical issues at all, the Fed's rate cut expectations have cooled, the Middle East is causing trouble again, safe-haven funds are fleeing, plus high leverage liquidations, making the fall unstoppable.
Currently, all moving averages on the chart are in a bearish alignment, Bollinger Bands have been broken through, and KDJ is sitting low, suggesting a rebound—yet resistance above is one after another, making it impossible to push higher; or if it continues to fall, the 76,500 low point is holding for now, KDJ is turning upward, pure torment.
At such times, don't blindly buy the dip, and don't chase short positions. If you want to short, wait for a rebound near 77,500 before shorting; if it goes up, accept the loss. If you want to go long, wait for a rebound and stabilization around 76,400, and if it breaks, run immediately. The market panic is at its peak now, play with small positions, don't go all-in or hold full positions, or you'll get hit from both sides, and you won't even know how your account balance disappeared. $ETH $SOL #以太坊基金会解质押约4890万美元ETH #比特币突破7.9万美元