BlockBeats news, on October 13, Li Hua Yi, founder of Liquid Capital, posted that although Bitcoin experienced a rebound during its recent decline, it has now broken below the middle band—the 20-period moving average—on the 4-hour chart, amid weakening U.S. equities and rising oil prices. Currently, aside from the weekly chart, Bitcoin’s 15-minute, 1-hour, 4-hour, and daily timeframes all show weakness, suggesting the pullback may not yet be over.
Yi Lihua said that previously, when Bitcoin pulled back from around $86,000, it repeatedly oscillated and attempted to break through the strong resistance level at $87,000, causing him some concern; a brief breakout above the key $84,000 level during the pullback also easily triggered emotional reactions.
Trading requires patience; avoid trying to participate in the market at all times. The cost of making a wrong trade is greater than missing an opportunity—investors should stick to their trading principles and avoid being disturbed by short-term fluctuations.