The big pancake is currently fluctuating within a narrow range, with overall moderate volatility, staying within a certain price range, neither breaking through the resistance above nor falling below the support. On the surface, it appears to be a one-way market, but in reality, it is in a state of oscillation. Overnight, after reaching near 26750, it fell under pressure and then steadily oscillated around 26600 to gather strength. After the opening of the Asian market today, it tested the support at around 26500 and corrected upwards, followed by a rapid rebound, reaching a high near 26760, showing an overall trend of decreasing volatility.
From a technical perspective, the hourly chart shows that after the retracement, the market has entered a consolidation phase again, but the overall trend structure has not changed. As for the daily chart of Bitcoin, the candle body has broken through the middle track, gradually expanding the downside space. In the short term, under the change of the top and bottom, the price will operate in a rhythm of oscillation repair or oscillation decline. The short-term 4-hour chart shows a continuous downtrend, with the Bollinger Bands indicating a continued downward trend, and the bearish volume has not stopped, indicating that the pullback is not over. Therefore, the main strategy for morning operations is to short at high levels.
Personal operation suggestion for the big pancake in the morning: short at around 27000-27200, with a target of 26500-26000.
Lao Zhu trades short-term every day, providing the latest market information interpretation. If you are not good at reading the candlesticks and cannot determine the direction, you can follow the trend!
- I am Zhu Zhengting, a teacher specializing in technical analysis. If you have any questions about operations or trends, feel free to communicate with me and learn together! Let's communicate and profit together!
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The article is time-sensitive, be aware of the risks, and the above is only personal advice, for reference only!
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