2/1/Community: BTC Rebound Ends; Is it Following the AB=CD Pattern?
Course Topic: A Technical Prediction Method AB=CD
The live broadcast will share various mainstream technical indicator application methods, as well as the analysis of the technical form on the day.
[BTC/Daily Chart]
BTC/Daily Chart Technical Trend Analysis: Since the high of 4900 on January 11, BTC has experienced an 8-day rebound trend from the low of 38000; it rebounded to the 50% Fibonacci retracement level and was significantly resisted at [43850-44000]. At the same time, the daily line has been under pressure from the death cross stage of the 50MA and the Bollinger Bands' midline. The rebound is clearly expected to undergo a short-term bearish retreat. From the perspective of price structure, there is an expectation of the AB=CD pattern in the daily chart technical trend. The first target could be seen at the recent low of 38300. If it effectively breaks, there will be an opportunity to reach the 34000 level at point D.
[BTC/4H Chart]
BTC/4H Technical Trend Analysis: The price at the 4-hour level fell from 43850 to near 42000; the upward trend line has been effectively broken, indicating a temporary end to the upward trend. The current price is testing the first important support at 41500-41000. If the bulls are able to be supported, then in the short term, it will enter a range of 43800-42000 for oscillation. If it is lost, it will drop to 39000-38500. From the perspective of the daily line, the probability of continued decline after encountering resistance is high. It is recommended to adopt a bearish mindset to look for resistance to the rebound.
For more details, welcome to join the live broadcast room for discussion and learning!
Recommended Approach [Encounter Resistance and Fall Back]
Support 41500-41000 / Resistance 43850-44000
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2022 Annual Strategy Guidance Record
2022 February-December /// 10 wins 1 loss
February complete / yield 2500% /// March complete / yield 2500%
April complete / yield 2626% /// May complete / yield 3698%
June complete / yield 3081% /// July complete / yield 7033%
August complete / yield 4694% /// September complete / yield 5046%
October complete / yield 1438% /// November complete / yield 2362%
December complete / yield -474% ///
2022 February-December complete total 34504%
Single margin 100U calculation * 34504% = 34504U
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