No matter what you do, don't be eager for returns, because sowing and reaping are not in the same season. In the meantime, there is a period we call: persistence. Just like this, persist in the years, never give up.
In the early morning, the price rose sharply, with the highest point reaching near 38400, and then consolidating at the high level. We summarized yesterday and gave a short-term long position on Monday. We won't say much about the space. Everyone understands. As the price starts to pull back and repair near the white plate node, it is currently around 37800. In the follow-up yesterday, we mentioned not to chase the high when it's high. There shouldn't be many friends who went long at the high.
From a technical perspective, looking at the daily chart, the price rose sharply, directly testing the pressure above, but did not break through and continue. After the test, it started to pull back under pressure, but the upward space has been successfully opened. In addition, the selling pressure has decreased, and the moving averages have also shown signs of turning. Further time is needed for the price to rise on the daily chart.
Looking at the small cycle level, after the price broke through the pressure test, it did not stabilize above, but formed a double-pin top. However, the strength of the bearish recovery is not strong. Overall, it is still focused on repair. The buying pressure is still maintaining continuous volume on the upside, but there is still a need for further pullback in the short term. Therefore, in terms of operation, we focus on long positions during the pullback.
Wednesday's operation suggestions:
Entry: Long in the 37700-37500 area
Target: 38300-38500 area, breakthrough to 39000-40000
Success may not necessarily have shortcuts, but it definitely has methods. A fine horse may often have, but a good judge of horses is not often found. Choice is very important! If you don't grasp it well, you might as well change your mindset!
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