Zhao Qinchuan: Mainstream short-term bearish divergence pattern, stable rebound for short selling.

CN
1 year ago

Market laws, twists and turns, cyclical changes, internal cultivation, external practice, the road is long and far. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave to try. Different attitudes towards life lead to 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 road is tough, but the scenery is beautiful. Do not forget the original intention, and you will eventually succeed.

2024.4.24 BTC————————

Yesterday's overall layout had some errors, resulting in no transactions for both long and short positions. Unfortunately, we missed out on the opportunity when we got the trend right. Today, the intraday resistance of Bitcoin remains unchanged, and we continue to pay attention to the upward pressure at the 67300 level. Although the MACD and volume indicators in the attached chart have reversed, and the fast and slow lines have formed a golden cross at the bottom, I still believe that without breaking through and stabilizing at 67300, a bullish trend cannot be formed on the daily chart. The four-hour Bollinger Bands are running with an open gap, and the overall candlestick pattern and the MACD indicator in the attached chart form a bearish divergence. The resistance is at the 67700 level, and the support is at the 65700 level. I suggest focusing on short positions after a long surge.

Pending orders:

Short at 67300-67700, defend at 500 points, target above 500-800 points

(The strategy can only be used once, and you can arrange the take-profit on your own)

2024.4.24 ETH————————

The overall trend of Ethereum on the daily chart is still very bearish. Although the rebound strength in the past few days continues, if the price does not stabilize above 3330 and beyond, it will be difficult for a substantial bullish trend to occur. In the short term, the four-hour Bollinger Bands are starting to contract, and the short-term support at the 3180 level is being watched, while the resistance near 3260 is being observed. If there is no strong support to pull up the market in the next four hours, there will definitely be some retracement. The key support in the four-hour chart is 3150-3180. In the short term, the price continues to maintain a range-bound market, with resistance near 3280. The overall trend in the short term tends to be oscillating upward. In summary, it is recommended to focus on high selling and low buying for Ethereum in the intraday.

Pending orders:

Short at 3320-3350, defend at 50 points, target above 80-120 points

(The strategy can only be used once, and you can arrange the take-profit on your own)

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

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so please be cautious when entering the market.

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