Monday Cryptocurrency Market Summary and Trading Strategies

As a new week begins, the cryptocurrency market has started with a strong waterfall decline, opening with a sharp drop, perfectly confirming our bearish outlook that has been maintained for a week.

Negative news continues to ferment, combined with the resonance of the late-month interest rate cut expectations, becoming the core driver of this round of decline. Currently, all technical indicators in the market have shifted into correction territory, and a trend-based bearish pattern has been established. The price breaking through the 90,000 level is likely to become the normal state of operation in the future.

Key Level Analysis

- Resistance Level: Around 93,600 forms a strong intraday rebound resistance, with the 93,000 area being the core price for precise bearish targeting.
- Support Level: The 90,600 threshold is the last line of defense for the short-term bulls. If broken, it will directly open the downward space extending below the 90,000 level.

Intraday Trading Strategies

Currently, market sentiment is extremely sluggish, with weak and unsustainable rebounds. Small rebounds are excellent opportunities for shorting. It is recommended to focus on short positions around the 93,000 area, aiming for the 90,600 support level; if support is broken, add to positions accordingly to bet on a deep decline below the 90,000 level. $BTC #加密市场回调