Zhao Qinchuan: How to deal with short-term market trends after the intraday surge, with operational perspectives attached.

CN
1 year ago

Market laws, twists and turns, cycles of change, inner cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable; the success story of an investor is actually a history of learning and growth. The journey may be arduous, but don't forget the original intention, and you will eventually succeed.

2024.4.4 BTC————————

During the evening session of the US market, Bitcoin showed some upward movement. The price is currently maintaining around 67200, seemingly at a high position. On the daily chart, it is suggested to pay close attention to the high resistance around 68200, rather than the current level of 67000. However, this does not blindly indicate a reversal of the Bitcoin long and short trend. It will only be effective to break through the 68200 resistance after the price stabilizes in the 66500-66800 range in the next 8-12 hours. Therefore, for now, it can only be said that the bulls temporarily have the advantage in the evening. In the short term, on the four-hour chart, after the Bollinger Bands narrowed, the price broke through the downtrend resistance line. Additionally, near 66800, there was a support-resistance swap, but whether the support is effective will depend on whether the area stabilizes in the next 8-12 hours. Taking everything into account, in the next 8-12 hours, attention can be focused on positioning long orders above 68200 or positioning long orders near 66500.

2024.4.4 ETH————————

The current price of Ethereum has returned to the previous support-resistance level of 3350-3380. On the daily chart, the high resistance is definitely around 3440-3460, not around the current 3380, or the round number level of 3400-3420. Therefore, for those considering short positions, it is worth paying attention to establishing short positions near 3440-3460. On the four-hour chart, the bulls have started to accelerate, but due to the rapid decline earlier, it will take time to digest the high selling pressure in the 3350-3380 range. There will definitely be a period of oscillation to release the selling pressure, before the price can effectively continue to rise. Otherwise, there is a high probability that the price will continue to fall below 3350 and come to 3320. Therefore, taking everything into consideration, in the next 8-12 hours, attention can be focused on establishing short positions near 3440-3460 at the high level of Ethereum, or positioning long orders near 3350-3320.

This article is exclusively written by senior analyst Qin Chuan, who has researched the investment fields of Bitcoin, Ethereum, contracts, spot trading, gold, forex, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and has a steady and decisive operating style. He is recognized by a large number of investment friends for his amiable and responsible character, as well as his decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment carries risks, so enter the market cautiously.

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