Jingcai's trend analysis: On 9.22, Bitcoin needs to pull back before continuing to surge to 65,000.

CN
7 months ago

Hello everyone, I am the familiar Jingcai to you all. We started to go long around 57800 and reached 61000-63000. Currently, the market is relatively strong. We successfully bottomed out Ethereum around 2280-2290 and sold near 2600. Whether it's spot or futures, we have been very accurate. The community communicates in a timely manner to assess the situation every day. Now I'm back. I haven't been posting in a timely manner for a while, indeed, I've been lazy. I will be more diligent in the future.

The trend of Bitcoin is still bullish, currently in the third wave of the uptrend, but there is a need for a pullback at this stage. Regarding the two situations for going long later: First, directly initiate a fourth wave pullback from the current stage, using the previous short-term high point and the uptrend line as support to observe the signal of the end of the decline near 61000, and look for long opportunities. Second, the continuation of the third wave uptrend, with a high probability of breaking the previous high of 65,000. If this line is broken, the demand for a pullback will be greater, waiting for the end of the rise and the fourth wave pullback, using the current adjustment relay and the uptrend line as support to observe the signal of the end of the decline, and then look for long opportunities.

Currently, it seems that the market has not gone up yet. So, I think that with such a significant increase, there hasn't been a good adjustment. Therefore, it may be considered to go short here and make a pullback order. The expected pullback is around 61000. It doesn't have to be an exact integer, but around this level. Then see if it can be supported and then consider going long. So, for now, go short at the current price and wait for the pullback.

Ethereum also reached around 2600 and encountered resistance. It also reached the first target I mentioned. Let's see if it can stand up after the pullback. Basically, the spot market has reached the first target.

Now, consider going short around 63000-63500, with a stop loss at 63600 and a take profit near 61500-61000.

In this market, there is no shortage of teachers, analysis, or operational suggestions. What is lacking is a sincere and honest heart to analyze the market for you. I don't have fancy profit screenshots or promises of a certain percentage of returns for you. I only have a heart to do things honestly. If you have been consistently losing in trading and want to follow the lazy way of Jingcai, you can add Jingcai below to discuss trends. The market changes too quickly, try to communicate with Jingcai. My daily analysis train of thought can be used for your reference. Reasonably control your position in trading, do not overweight or fully invest. This is a personal opinion for reference only. Investment carries risks, and you are responsible for the risks!

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