Coin Circle Ye Qiu: Whether the 3.29 daily line relies on the moving average to break through is the key

Life is like climbing a mountain. Many times, when we look at the goal from a distance, it seems unattainable. In fact, with each step forward, we are closer to the goal. The farther the road, the closer it gets as we walk; the higher the mountain, the closer we get as we climb; the harder the task, the smoother it becomes as we do it. The power of repetition is not addition, but multiplication. The ability to wear down a stone with water is not the power of water, but the power of repetition and persistence.

The struggle between long and short positions this week has been fully demonstrated, all of which reflects the bullish sentiment in the market. Every time there is a dip, there will be a rapid rebound and recovery phenomenon. Since Bitcoin broke through the daily midline, there have been multiple occurrences of bottom fishing. For the daily line of Bitcoin, based on the rhythm of oscillating upward relying on the moving average and the arrangement still continuing, it is just being suppressed near 72,000 in the process of upward movement, gradually leading to the emergence of an oscillating rhythm, resulting in the short-term 4-hour cycle reaching a state of narrowing and flattening. This is also the fundamental reason for treating yesterday's oscillation. Therefore, in the short term, it is still necessary to pay attention to when the 4-hour Bollinger Bands break through and change direction in order to preliminarily judge the direction of the next round of market trends. The analysis and trading strategies corresponding to the technical aspects have been provided in previous updates, and I believe that those who strictly follow should have benefited greatly.

As the week draws to a close, what needs special attention is the technical pattern mentioned in the previous days. If point D becomes a key resistance point, then this round of market trends is about to end, and a medium-term retracement trend will follow. If point D appears at the 2.618 level, the subsequent trend will not only open up the 4-hour cycle chart to refresh the annual high, but also the daily chart and the weekly chart will see an unexpected violent surge. Of course, this is only based on the technical aspect. In actual market trends, the technical aspect of the reversal requires further tracking of the actual change in direction as the basis for judgment.

Today, pay attention to around 70,000 and the vicinity of 69,600 below. Aggressive traders can go long near 70,000 for the short term, first look at the rebound on the 4-hour level, and consider shorting in the range of 71,000 and 71,500. It is important to pay attention to whether the daily moving average is gained or lost. Short-term grasp has timeliness, make your own judgment, and trade cautiously.

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