Jiangshan: Bitcoin's weekly chart has seen six consecutive gains. Will the bears have a chance to turn the tide?

CN
江山丶
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11 months ago

The notes dance to a beautiful melody, exuding the charm of passionate communication. Whether you have had a fulfilling week or shed tears continuously, under the lights and in front of the screen, raise the sail in your heart and dance a splendid ballroom dance. Let joy flow from the strings and let the doubled wind flutter in our hearts. Adjust your state, look to the future, and you will be a whole new self!

In the past two days, the market has shown a trend of oscillation and downward movement, albeit with a small magnitude. However, for our bearish camp as a whole, this is a good thing, although the profits are not substantial. Some may say that my judgment has not been very good these days, but finally being right about shorting. However, you should know that friends who followed me in shorting controlled their positions well and did not trigger stop-loss orders, and even continuously raised their average prices. Faced with such a market, at least 90% of people are outperformed. Currently, my average short position price has also been raised to 38345.

From a technical perspective, it's the same old story, with constant divergence on both the daily and four-hour charts. The oscillation upward has never accelerated, seemingly consuming the impact of the divergence. However, looking at the weekly chart, with six consecutive bullish candles, the previous bull market did not exhibit such a trend. So, I really dare not chase after long positions here, and it's also a matter of watching for a bearish candle on the weekly chart. Additionally, why did I mention the range of 39000-39200 the day before yesterday? From the four-hour chart, there may be a channel formed here, and 39000 is also a resistance level.

Chart

So personally, I am still brainwashing everyone to go short, join the bearish camp, get rich. You didn't dare to short at 36000, you didn't dare to short at 37000, and now the price has reached 38600, a very cost-effective position. Really, don't miss out, even if it doesn't experience a sharp decline, we can still see it move in an oscillating trend. So, the market in the past two days is really for the brave and not for the timid.

Strategy: Short in batches from 38600 to 39200, stop loss at 39700, take profit at 37500.

Personal advice, for reference only. Take profit according to your own situation.

Finally, someone privately messaged me about the topic of a bull market. Let me be clear, I don't see a bull market. It's not that I don't think it will rise. There is a substantial difference between an upward trend and a bull market. On the contrary, I am optimistic about the price reaching fifty thousand next year, but if you say it will start a bull market and break the high point of 6.9, I definitely don't think so.

By Jiangshan, WeChat public account: BTC Analysis and Advice. You can also scan the QR code below to follow me.

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