Coin Circle Liangqiu: Bitcoin/Ethereum long positions have taken profit again. What should be the follow-up operation?

CN
1 year ago

Attention, profit of millions, hello everyone, I am analyst Liangqiu, here to share my views, and also hope that every friend who follows can have a good profit!

First release on the public account. You can follow the public account Liangqiu, focusing on mainstream currency guidance layout. Since last Thursday, Bitcoin has been above 26500, Ethereum has been above 1514 on the weekly and daily charts, I have repeatedly reminded that the short-term bottom has come, and also repeatedly reminded to buy at the low. Even yesterday, I also reminded twice that the rebound is a buying opportunity. During the day, Bitcoin once again surged, reaching a high near 29100, and Ethereum's overall trend is much weaker, and there may be a demand for a subsequent rise.

Regarding Bitcoin, the day before yesterday, due to the impact of the news, it directly broke through the thirty-thousand mark, and then began to fall back, but the lowest point of the fall also stabilized around 27700. Normally, during the rise on the daily or four-hour chart, a long upper shadow or a long lower shadow indicates a possible change in the market direction, moving in the opposite direction. However, there is a situation that is quite exceptional, that is, after the surge, a long upper shadow is formed, followed by a continuation of the rise or a sideways shock on the four-hour chart, which is a typical continuation pattern in the upward trend, and it will continue to rise subsequently, with a high probability of rising to the position of the previous surge. Similarly, a long lower shadow during a fall, followed by a continued fall or sideways movement on the four-hour chart, will also lead to a continued decline to the position of the previous fall. The pattern seen in the rapid decline on August 17 followed by a continuation of the sideways movement or decline is consistent, and Bitcoin/Ethereum also reached the position near the previous spike during the oscillation process, verifying this point.

In terms of technical patterns, after this strong surge, Bitcoin directly stabilized above the 28000 midline of the weekly Bollinger Band, and the retracement was very small, showing overall strength. Looking at the four-hour and daily charts, the Bollinger Bands are opening upwards, and the coin price is also far above the moving average indicators, with a need for short-term indicator correction. Below, pay attention to the important long-short boundary at 27800 to 27500. If this level is not broken, there will be a subsequent push towards the thirty-thousand mark.

As for Ethereum, the overall market trend is much weaker, and even last night's lowest point spiked to around 1541, showing relatively weak performance. However, after the downward spike, it immediately rebounded again. Currently, the moving average (MA) is close, with the 7-day, 10-day, and 30-day moving averages almost converging. After the convergence of the moving averages, it can rely on the moving average support to look upwards. Below, still pay attention to the important long-short boundary support near 1540.

In terms of operation, continue to enter long positions near 28300 to 28500 for Bitcoin, with a target near 29400; for Ethereum, continue to enter long positions near 1550 to 1560, with a target near 1610.

The publication review has a time delay. For specific strategies, please follow the public account, Liangqiu.

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