Market Review:
The market once again experienced a roller-coaster ride yesterday. After a slow decline throughout the day, it rebounded in the evening and surged all the way to nearly 42,000 by midnight. This morning, it broke through 43,000 and reached a high near 43,500. The current market is oscillating around 43,000.
Market Analysis:
Looking at the four-hour technical chart, the Bollinger Bands are running with an open mouth, and the market is currently oscillating near the upper rail. The MACD is running upwards after a crossover, and the KDJ three lines are also trending upwards. The market has broken through the Bollinger Bands but has not continued to form a pinning sign. It has already recovered within the range. From the market perspective, there is a short-term demand for pressure testing. After the continuous upward trend on the hourly chart, the Bollinger Bands have not extended too much, indicating a potential topping out. Although the bulls seem strong, it is also difficult to expect continuous upward trends. This kind of market may follow the pattern of yesterday, starting with a decline and then continuing, but without breaking the high. Additionally, the highest point is very close to the four-hour stacked point from the daily line, which is the strongest suppression point. Therefore, the market is still oscillating within a large range, and the bears have the ability to counterattack. Therefore, the directional operation in the near term is suggested to be mainly short and secondarily long.
Recommendations:
BTC: Look to short near 43,400 with a target around 42,500-42,000. Reverse position if it does not break through. Stop loss at 300 points.
ETH: Look to short near 2,250 with a target around 2,200-2,170. Reverse position if it does not break through. Stop loss at 20 points.
The above suggestions are personal opinions and are for reference only.
Risk Warning and Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute personal investment advice and has not taken into account the individual reader's specific investment objectives, financial situation, or needs. Readers should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk. (For friends who are still confused about operations, you may want to take a look at the strategies provided. Real-time guidance for 24 hours, the market fluctuates quickly. Due to the impact of timeliness during review, real-time layout is the main focus for the subsequent market trends. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.)
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