Mu Feng looks at the trend: Interpretation of the market trend and operational ideas for February 7th in the early morning.

CN
1 year ago

Yesterday, the market was basically in a range-bound phase during the day. Our strategy of shorting on highs that we laid out in advance was validated in the evening. We shorted Bitcoin around the 99,000 level, and so far the price has dropped to around 96,300, perfectly reaching the target, with a maximum profit space of over 3,000 points. For Ethereum, we also set up a short position at the 2,850 level, and the price has dropped to around 2,680, exceeding expectations and reaching the target, with a maximum profit space of over 150 points. I believe that friends who followed the strategy have achieved a very considerable overall profit.

Returning to the technical analysis of the market, compared to the daytime, Bitcoin/Ethereum currently shows an upper shadow on the main daily candlestick (indicating weakened bullish momentum, with strong pressure from the MA5). The opening range of the BOLL lower band is also wider than during the day, and the downward trend of the MA5 and MA10 moving averages has intensified. Looking at the 12-hour chart, the overall downward pressure of the BOLL continues to strengthen, and the MACD has also entered a slight bearish expansion phase, with a significant gap in trading volume. Therefore, for the short term in the early morning, we continue to expect a range-bound decline, and it is still recommended to focus on shorting during rebounds for short-term operations.

The above is my personal market analysis from the early morning, for reference only. For more real-time strategies and free guidance, click on the avatar to follow the homepage introduction. Welcome to exchange and learn together!

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