Have you noticed that whenever it's the weekend, the trend of Bitcoin and Ethereum remains in a sideways state, with little activity? Therefore, we did not provide any layout for intraday trading. During this leisure time, it's better to spend time with your family and children. There's no rush to trade when the market is in a sideways consolidation again. The current market is once again consolidating within the Bollinger Bands, maintaining a range-bound oscillation, with exploration of highs and lows stabilizing near the midline. Currently, the Bollinger Bands are contracting, usually indicating a prolonged consolidation before a trending market. The technical structure is entering a pause for correction, with uncertain strength in both long and short positions. Short-term trading should still be approached with a range-bound mindset. Range-bound first, trend later. Avoid excessive trading within the range!
We can look at the 4-hour chart to see that the recent market has been in a state of deadlock between long and short positions, with continuous oscillation accompanied by alternating positive and negative trends. In fact, the overall trend is not clear. With this kind of transformation, there is also a significant rebound in the technical aspect, but the market will be under pressure to return to the lower level by the end of the trading day. This will further extend the weakness of the market. Whether the market will resume the previous rebound space and continue to decline in the future, or decline again and stabilize at a lower level, will determine the continuation of the downtrend. Of course, the current market, with its frequent back and forth, has increased the frequency of washing out positions. The current structure is still within a downward channel, but the frequent switching between long and short positions suggests that short-term trading is still the way to go. Do not hold too much position and aim for quick in-and-out trades. The direction has not changed, and the theme is still bearish!
Personal trading suggestions for Bitcoin in the morning:
Short in the 26800-27000 range, with a target of 26500-26000 below!
Personal trading suggestions for Ethereum in the morning:
Short in the 1600-1610 range, with a target of 1550 below!
- I am Zhu Zhengting, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to communicate and learn with me! Let's exchange ideas and profit together!
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Risk Warning and Disclaimer: The market is risky, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual readers' specific investment goals, financial situations, or needs. Readers should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
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