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Trend/position/skill, all three are indispensable! Market Analysis

In the previous original article about Bitcoin, a relatively comprehensive support level was clearly given. In the short term, support near 43000 was favorable for short-term long positions, providing multiple opportunities to enter the market and then rise to near the new high, capturing a short-term profit of over 1000 points. I have been telling everyone all along that those who wanted to short during this period should choose to short near the new high, whether it's Bitcoin or Ethereum. Shorting near the new high with a good stop loss clearly conforms to the current market trend, bringing multiple short-term short profits. Over the weekend, the support stabilized near the low of 43600, forming a short-term narrow range box, with the upper part still around 44000. In the previous article, I mentioned that the main focus of the futures market is on the short term, while the spot market emphasizes the long-term trend. Don't treat futures trading as if it were spot trading. Once the direction is wrong, it will be irreparable. However, considering that everyone has different personalities, their trading preferences may also differ. For the few futures fans who prefer to trade in the medium to long term, if you really want to trade in the medium to long term, you can short near 44000 without much problem. As expected, after two days of weekend oscillation, the first market movement came early on Monday, quickly dropping. If you had followed my suggestion to short at 44000, you would have caught a market drop to near 40200, seizing nearly 4000 points of movement! Whether during the upward process or the substantial pullback this time, it was held firmly. This is why I mentioned before that in futures trading, it's not just about the positions, but also about the key points and operational skills in the market. At this point, looking at the hourly chart, after the market retraced halfway, it began to oscillate. In simple terms, after the market exerted force and adjusted to the middle, it began to accumulate strength for the second wave of movement, taking away more retail investors. At this time, the key focus should be on the possible second wave of decline. Aggressive support continues to be around 40400-40600, while the short-term long position strategy focuses on the area near 39300-39500, and the conservative approach focuses on the area near 38300-38500. From the perspective of resistance, in the short term, it's near 43300-43500. After reaching this level, you can try shorting in the short term. Looking at the overall situation, Bitcoin may still reach around 44000. From the four-hour chart and the attached chart indicators, the three lines have already started to turn downward during the upward process, and the bearish candles continue to increase in volume. I believe there may be a second round of decline later, so be cautious and set your stop loss when trading.

For updated trading strategies, friends who trade small cryptocurrencies can follow the real-time guidance on the CoinAbove WeChat public account!

This article is exclusively created by Teacher Cheng Cheng, specializing in the style of mobile lock-up warfare focusing on high and low support and resistance, short-term swing high and low, and medium to long-term trend trading.

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