Yesterday, in the article by Master Chen, a long position was pre-embedded in the 67500-67900 range, and the market fell to near 67900 in the afternoon at 16:00 yesterday. It then rebounded all the way to a high of 69080, and the pre-embedded long position target of 68900 mentioned in the article was reached, securing a profit of 1000 points.
As for the pre-embedded short position in the 69000-69400 range, after the announcement of the PCE index in the evening, the market rose to a high of 69080 at ten o'clock, and then fell to 66700 in the early morning. The pre-embedded short position targets of 68300 and 67900 mentioned in the article were both perfectly reached, securing a profit of 1180 points. In summary, the pre-embedded long and short positions in yesterday's article secured a total of 2180 points!
BTC 4-hour chart:
The possibility of a large-scale sell-off by Mt. Gox may have led to a deterioration in investment sentiment, causing the price to fall to 67000. At the same time, yesterday, Bitcoin on a Japanese virtual asset exchange was stolen, leading to the price falling below 67000 during the trading session.
Subsequently, the price formed a lower shadow and rebounded at the important support line of 67100 and the uptrend line mentioned in Master Chen's analysis yesterday. Therefore, today, Master Chen will also set 67000 to 67200 as an important selling pressure zone and recommend short-term operations based on this area.
Resistance levels reference:
First resistance level: 67700
Second resistance level: 68140
If the coin price breaks through the first resistance level above, it may increase the possibility of rising to the upper part of the triangle convergence, and Master Chen will also pay attention to whether it can hold the uptrend line.
Considering the triangle convergence pattern and the weekend factor, the short-term view is still to maintain the rebound.
Support levels reference:
First support level: 67200
Second support level: 66760
First support is also an important support line today, although it briefly fell below. But due to the influx of buying orders forming a lower shadow, we can continue to view it as an important support line.
If it falls below the first support level again, then we need to pay attention to whether the price will test the 120-day moving average and look for opportunities for a rebound.
Today's trading advice is to maintain a mainly long position at low levels, observe the price trend in the range of 67200 to 67700. In addition, based on the range market, it is recommended to find a suitable risk-reward ratio for position operations at the support level.
Please refer to these suggestions when trading
6.1 Master Chen's short-term pre-embedded orders:
Long entry reference: 66700-67100 range, gradually enter long positions, defend 500 points, target 67700-68100
Short entry reference: 67700-68100 range, gradually enter short positions, defend 500 points, target 67200-66700
This article is exclusively planned and published by Master Chen (WeChat public account: 币神师爷陈). If you need to learn more about real-time investment strategies, how to get out of a predicament, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. I hope to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% going with the trend; daily updates on macro analysis articles across the web, technical indicator analysis of mainstream coins and altcoins, and spot mid- to long-term replay price prediction videos.
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