📊#BTC complex consolidation appears, long - short contradiction

17 nov 2023

➡️When we were initially strongly bearish, it was because there was an obvious short structure. However, because our short defense point was broken, the short structure was destroyed. The destruction of the short structure does not mean that it will continue to rise. We It is also possible to form a new short structure or continue to consolidate, because we are in the resistance zone, so it is more difficult to continue to break through the previous high, but the possibility exists.

🧠There are three possible trajectories here
1. The upward trend support line plays a good supporting role and continues the strength of bulls to challenge the previous high.
2. After falling below the upward trend support line, it will start to rebound after forming effective support in the lower support zone, and try to continue adjusting to the previous high or higher target zone.
3. After falling below the upward trend support line and support zone, it challenges the bull defense point and the previous low, continuing the short power.

➡️In complex consolidation, the profit-making efficiency will be relatively low, so fund management is particularly important.‼️

Let's see which path will be chosen👀