Good evening everyone, I am Xinya, the 71000 and 2168 we provided on Friday were very good

Let's briefly review. Starting from the 20th, Bitcoin began to face resistance and descend from around 71300, and the selling pressure expanded when it broke through 70500. However, around 69500, the bulls resisted, and after the price returned to around 70500, the price operated with reduced volume, resulting in a sideways market. This sideways movement is quite significant; a small trading volume can time to exchange for space to deceive indicators, allowing continuous selling. Indeed, on the evening of the 21st at ten o'clock, Bitcoin faced resistance again from around 71000, and the bears began to exert force. At five o'clock in the morning, selling pressure expanded from around 70500, with a spike to around 68200. The next rebound faced resistance at 69500, testing the downside again. A second rebound started at the round figure of 68000. We marked the important positions in the process: 71200, 70500, 69500, 68200.

Whether on the one-hour or four-hour ema120 and 144, they are both around 70500. We can consider this as short-term resistance. Meanwhile, the fifteen-minute ema120 and 144 are also around 69500. We can consider this as a bear suppression point. Both of these positions are significant levels that the market has passed, and there will be swing enthusiasts getting involved. Among them, 69500 has repeatedly become a pressure zone in the February market and needs to be marked prominently. The current structure is extremely complex; in terms of shape, Bitcoin has a preliminary rudimentary form of a four-hour head and shoulders, as well as multiple ema moving averages suppressing it (the previous similar structure was broken). There is support below from an ascending channel and the previous secondary central pivot’s double support. The overall structure might reverse during the operation and then reverse again.

Regarding the two possible trends in the future market, we slightly adjusted our thoughts on the future market on March 20, possibly entering a consolidation in the previous four-hour central area. It might also directly decline, perform a rebound, and then continue downward to pierce through the central pivot to find new support. In the short term, we can have many options; we could short at 69500, with a stop loss at 70500, or short around 70000, add at 71000, with a stop loss at 71850. The high-frequency rebound positions can still refer to 68200, 67500, 66800. The stop losses only need to be a few hundred points.

In theory, the turning point of the larger cycle is at 65800. Many people doing trend analysis should have pointed out this level. You should have seen someone say that if it breaks below here, it will see the five-digit number, but this is also very likely to become a reversal point. The biggest pain point for options delivery at the end of this month is at 75000, so everyone should be a bit cautious first. If trying to test the warehouse, be sure to do so above this level.

Synchronize with the peers, public account: Xinya Talks About Chan

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。