Established trend, position control, successful trilogy!!!!!!
Tuesday's market was really toxic, with narrow fluctuations for four consecutive days. There was simply no way to operate during the day. First, the space was too small, and second, the speed was too slow. When entering the market in the morning, the position was still the same in the evening. The only thing that remained unchanged was the price.
After a day of suppression, the market chose to erupt again at midnight, with accumulated volume cooperating with the trend, once again breaking through the suppression, breaking through the short-term important support level, and running below, adding a beautiful trend to the dull market.
As for Bitcoin, as mentioned yesterday, it is currently within a triangular area. After probing the upper part of the triangular area, it will gradually move to probe the lower part with the passage of time. The market did not disappoint us, and it directly probed near 29100 as expected, reaching the lower part of the triangular area.
From a technical perspective, the bearish volume has been released, and the bullish volume is gradually being released, reclaiming lost ground. It is under pressure from the 5-day moving average, and the Bollinger Bands are widening. Other moving averages are also turning downwards. As long as the volume does not cooperate, shrinking volume means consolidation, which will be a clear bearish trend, and a downtrend channel has already formed. During the day, attention needs to be paid to the resistance near 29400. If it is not broken, the downtrend will continue.
Ethereum has also been indicating that it is still in a downward channel. The new high of the downward channel is gradually moving down. The early morning market directly broke through the current channel, reaching the bottom of the previous downward channel, and the important support at 1835 was quickly broken, reaching a low of around 1813. After all, this position is also close to a short-term low point, and a rebound is undoubtedly expected. After the repair, it is currently running at 1829.
From a technical perspective, the Bollinger Bands are even more exaggerated, always under pressure from the lower rail, and facing the resistance of the 5-day moving average above. The various moving averages are also turning downwards, and the bullish volume is shrinking. Shrinking volume means oscillation, and the rebound space is limited. It should be repaired through oscillation indicators, and then retested. During the day, attention should be paid to the resistance near 1838. As long as it does not stabilize, it can be shorted again.
In summary: Today's strategy is the same as yesterday, focusing on short-term rebounds. For Bitcoin, pay attention to the 18350-18450 range, and for Ethereum, focus on the 1838-1844 range. As long as it is not a large bullish candle directly moving upwards, you can appropriately short at the position. At the same time, pay attention to the support situation below. Make intraday adjustments based on market changes.
Due to the impact of the review time, for subsequent intraday adjustments, the real-time strategies in the live trading group are the main reference. It is recommended for reference only. Follow my trades, make money, you can too!!!!!!! Rain or shine, Wolong is waiting for you.
Official Account: Zhuge Talks Coins
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