Bitcoin 88,000 Southbound: The Golden Cicada Flies Away! Are you an onlooker or a participant?

At 4:40 AM, the chill still lingers, but the night in the crypto world has never been calm. Bitcoin’s price, like a sharp blade, decisively heads south from the high of 92,500, piercing through the 88,500 support line, aiming at deeper waters. This 4,000-point drop is not only a ruthless reshuffle of the market but also a hunting ground for the wise to secure profits. Currently, the price hovers around 89,800. The smoke of battle has yet to clear. Are you choosing to withdraw and watch coldly from the sidelines, or to dive in and go with the flow?

This fierce “Golden Cicada Flies Away” move is not just a price shift but also a profound test of traders’ mentality. Looking back at the previous move, the gamble of heading north to 93,000 may have become a mirage, while the precise take-profit at 92,500 is especially precious. Behind these cold numbers is the silent cry of stop-loss discipline. The market’s different perspectives shed tears; every unprotected run without stop-loss is like dancing on the edge of a cliff. Now, let’s review this thrilling night and engrain the habit of “using stop-loss” into our bones.

On the daily K-line chart, between the highest point of 90,600 and the lowest of 87,200 before this report, a deep shadow is cast. The EMA trend indicator, which was originally contracting upward, has been forcibly pulled back by this southward surge. Although it is now struggling above the Fibonacci retracement level 0.786 (90,360), the continuous shrinking of the MACD and the narrowing Bollinger Bands all indicate that the bulls are weakening. The K-line has been sideways near the lower Bollinger Band at 87,500 for two consecutive days, as if gathering final strength or waiting for the ultimate verdict. If the main force tests 87,500 again and gets a rebound, it may be the last call for a northbound counterattack.

Focusing on the four-hour chart, trading volume surged after midnight, like thunder before a storm, signaling the signs of sharp rises and falls. The resistance at around 90,500 is as solid as a copper wall, and the EMA trend indicator continues to fluctuate downward. The MACD shrinks and declines, with DIF and DEA forming a death cross below the zero line. The K-line is spreading downward around the lower Bollinger Band at 87,400, with the bears’ momentum pressing forward.

At this moment, market sentiment is as tense as a stretched bowstring. Will you choose to gamble at the 87,500 support level for a desperate counterattack? Or will you stay on the sidelines and wait for the dust to settle? Whatever your choice, remember that the market is always right, and survival is the first rule of trading. This 4,000-point fluctuation brings joy to some and sorrow to others. Are you ready for the next round of the game? #btc $BTC