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Analysis at 7:16 AM
The intraday Bitcoin has been pressed down and rubbed on the ground by the bears, even though there is now a slight rebound recovering some parts. From a broader perspective, this looks more like a smoke screen to lure in long positions. Looking at the rebound volume and sustainability, it completely lacks the strength to support a reversal. Rather than saying the bears are exerting effort, it would be more accurate to say it’s a trap for the bulls, just waiting for greedy retail investors to chase the highs, facilitating the whales to continue pushing down and harvesting the retail investors.
So now there is no need for Silu to waver, just keep an eye on this ointment and that's it.
Suggestion
Bitcoin: Trade around 117500-118300, target: first look at around 116300-115500, if broken then look at 113500.
Erbing: Today has been quite tough all day, it is recommended to do the Kong in a more greasy position.
Around 3070-3090, the target is near 3050-3010.
#btc#