Coin Circle Ye Qiu: The daily line turned negative on March 19th, and the downward trend continues.

The rhythm of oscillation and decline continues, and the recent market is a retracement, which is a high-altitude market. The daily line once again came under pressure from the moving average and turned negative. Although it turned positive above the midline yesterday, it was still constrained by the short-term 5-day moving average. During the day, it fell below the midline and quickly declined. The previous continuous upward trend has been basically consumed in the recent oscillation and decline. In addition, the weekly line has shown a rare doji negative line change, which may be a very important signal.

Last night, a long signal was seen in the short term. Although a small long position was taken, the increase was not as large as expected, only about a thousand points. Ultimately, it was further suppressed by the trend line in the 4-hour cycle and continued to decline. Therefore, short-term handling must be timely, otherwise it will be in vain. For today's market, in terms of the status of the daily line, it is still better to go short first. The rhythm of the second coin has driven the entire market and is leading the way. You can compare the candlestick charts of the first and second coins. There is indeed a relationship of mutual constraint and mutual promotion between the two. The 4-hour level turned negative below the moving average, and the daily line is also under pressure. In addition, the MACD indicator in the attached chart has a bearish crossover, and the green bearish energy column has a small volume. If it continues to be under bearish pressure in the next two cycles, the intraday will further refresh the low points to 64,000 and 63,300. Therefore, the main focus is on shorting the rebound. Consider testing the effectiveness of support near the support level.

In terms of operations, short positions can be taken at 65,500 and 66,000 for the first coin, with a stop loss of 600 points and a target of 64,000 and 63,500. For the second coin, short positions can be attempted at 3,450 and 3,480, with a stop loss of 50 points and a target of 3,300 and 3,200.

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