Title:
Zhou Yanling: Latest trend analysis and operational strategies for Bitcoin and Ethereum on May 29
Content:
The trading strategy for oscillation has been written before. The summary is simply: "long at high, short at low." Although it may seem a bit rogue, the details within the oscillation are actually more important than the trend. After all, there is usually not much controversy in a one-sided and trending market. You just want to know how high or low it can go. Oscillation is a bit more complicated. So today, Yanling's approach is to focus on 69500. Regardless of whether you go long or short, you need to pay attention to this level. I do this because the strategy has been verified as oscillating. It's easy to be knocked down by the market if you casually bring a short retracement and then go back. This will make it more unscrupulous. The specific details will be given in the technical analysis below. In simple terms, it is to use techniques to deal with the current oscillation pattern.
Looking at the daily chart of Bitcoin, it is still consolidating repeatedly in the 72000-66000 range in the short term. However, from the perspective of the operating channel, the upper rail has been broken through to some extent. The support point confirmed by today's pullback is around 67500. If it stabilizes at this level, it will continue to rise and test 69500. After the repeated oscillation over the weekend and the washing at the beginning of this week, the probability of being broken through is increased when testing again. Intraday, it continues to rise slowly, with some divergence in MACD. Wait for some retracement, repair some indicators, and then choose the right time to follow the uptrend. Looking at the 4-hour chart, it broke through the 10-day moving average yesterday, slowly rebounded and was pressured near the middle rail, and today it continues to test the middle rail. Once it breaks through and stands above the middle rail, it will test the 66-day moving average, and then the 66-day moving average will suppress the decline. So from the perspective of the average price, it will be pressured every time it touches each moving average, and the rebound is temporarily weak. On the hourly chart, it continues to rise slowly again after the consecutive positive candles. So if it doesn't go down, it means that the short-term coin price may stabilize and rise again at any time.
Bitcoin Operational Strategy on May 29:
- Long at 68300-68700, stop loss at 400 points, target at 69200-69600, and look at around 70300 if it breaks through.
- Short at 69600-69200, stop loss at 400 points, target at 68500-68100, and look at around 67500 if it breaks through.
[The above analysis and strategies are for reference only. Please bear the risk on your own. The article may have a lag in strategy due to the review and release. Specific operations should be based on Yanling's real-time strategy.]
This article is exclusively created and shared by senior analyst Zhou Yanling (WeChat: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding the operation of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other coin circle contracts/spots. With solid theoretical foundation and practical experience, the author is good at combining technical and fundamental analysis, focusing on capital management and risk control. The operating style is steady and decisive. The author is recognized by a large number of investment friends for being affable and responsible, as well as decisive in operations. If you need to know more about real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, you can follow the teacher (WeChat: Zhou Yanling).
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