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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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BTC fell below the 100,000 mark early yesterday morning, triggering widespread panic. However, miraculously, it did not continue to fall further and instead managed to get back above 100,000. This point needs to be noted. Because on January 14th of this year, there was also a false breakout followed by a recovery, which then formed a double top.
However, what is different this time is that on January 20, Trump took office, so people had high hopes for the market. Now, with the overall environment deteriorating, the probability of breaking the previous high is lower. I still have a bearish outlook in the long term, and in the short term, I feel that we can still try to short again around 106000.