Coin Circle Ye Qiu: Losing the 4.2-day line and rebounding from the midline to short again

Trading is a process of patiently waiting for opportunities to arise. Holding back is not because of being at a loss, but because of being well-prepared. 95% of profits always come from 5% of trades. Waiting for opportunities is a trading strategy. In other fields, waiting for opportunities is considered foolish, but in the trading field, it is a wise move.

Yesterday, at a critical moment, I provided corresponding trading ideas. I believe that long-term followers will definitely reap rewards. As expected, the price tested the daily midline and faced pressure after rebounding nearly 2000 points in the early morning. Shorting near the 70,000 level was also extreme. The market seemed to play a big joke on you. Clearly, the rebound was significant in the early morning, so why did a substantial decline occur the next day, breaking through the midline to the 65,600 level? At this point, it is necessary to mention the technical aspect. For a round of short-term market trends, continuous suppression and the inability to break through the downtrend line during consolidation or rebound, combined with moving average suppression, basically indicates a continuation of the trend. The early morning rebound was not too high, and the second decline under the short-term 30-day moving average suppression was inevitable. In addition, losing the 5-week moving average on the weekly chart and losing the midline support on the daily chart, rapid decline was a foregone conclusion. Don't think it's unexpected; this is all an inevitable result. Moreover, for the daily chart cycle to narrow, it must rebound after facing pressure and then retest, in order to achieve the process of narrowing the range.

In addition, although the daily chart is biased towards short, the short-term 4-hour and hourly charts have entered a downward oscillation channel. At this point, one must be prepared for a turning point, which brings us to a technical adjustment pattern. As for the technical aspect, I don't really want to say much because even if I do, you won't understand. See the attached images; pay attention to the short-term support at 66,000 and 65,500, and the resistance at 67,800 and 68,200.

Operationally, maintain short-term support at 65,600 and 66,000, and pay attention to the strength of the rebound here. Consider shorting again at 67,600 and 68,000. Also, pay attention to whether the technical pattern is valid. If it is, there may be an extreme rebound trend.

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