Trading philosophy: Look at the trend in the big cycle, find the position in the small cycle.
Market review: Currently, the market has dropped significantly to around 65,000 for Bitcoin and 3,200 for Ethereum. After a second test without breaking the bottom in the early morning yesterday, the market started to oscillate and rise. The article posted in the early morning also suggested an aggressive long position near the resistance level and then a layout of short positions. The current market trend basically meets the expected trend, and the back and forth gains from long and short positions are still good.
Technical analysis: For Bitcoin, the daily chart has fallen below the middle track of the Bollinger Bands, and the MACD and KDJ lines continue to move downward. The selling volume has started to increase again, and the 4-hour chart continues to move downward. The MACD lines are running parallel, the selling volume is decreasing, and the KDJ line is starting to move upward for adjustment. As for Ethereum, the daily chart fell to the lower track of the Bollinger Bands and then started to rebound. The MACD and KDJ lines are both moving downward, and the selling volume continues to increase. On the 4-hour chart, the MACD lines are running parallel, the selling volume is gradually decreasing, and the KDJ line is starting to move upward for adjustment.
In summary, the market has stopped falling and is in a sideways trend. Short positions can be continued if the resistance level of around 66,500-67,000 for Bitcoin and 3,300-3,350 for Ethereum is not broken. It is also possible to go long if the new low is not broken.
Operation suggestions:
Short Bitcoin in the 66,500-66,900 range, with a target of 65,500-64,500, and a defensive position at 67,500.
Short Ethereum in the 3,350-3,370 range, with a target of 3,280-3,220, and a defensive position at 3,410.
The strategy is time-sensitive, and specific guidance in real time should be followed.
Follow WeChat public account "允彦" for more information.
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