Ma Feng's Trend Analysis: Continuous upward trend with strong bullish momentum. Will the market continue to fall under pressure or break through to rise?

CN
8 months ago

From the perspective of the market, mainstream coins are still showing strong bullish momentum, and the market continues to be boosted by positive news. However, the continuous overbought status of the daily and four-hour stochastic indicators poses a risk of retracement. Therefore, in such a rising situation, the bulls should not be complacent and must not take it lightly. As for trading, after today's rally, it is not advisable to chase the rise. Instead, one can wait for a pullback to the corresponding support level for long positions, or observe a rebound to resistance levels and then anticipate a pullback. It is important to pay attention to the rhythm and risk control position. After today's rally, it is more important to observe the pullback and recovery situation before assessing the strength of the rebound. Combining market fluctuations and indicators, the short-term pressure during the day is focused on the weekly chart's MA60 moving average at the 59500 level, and the short-term adjustment support below is focused on the four-hour upper rail at 56500 and the MA5 moving average at the 54500 level.

As for Ethereum, the short-term bullish momentum is strong during the day. The price is slowly rising within the high range of the past few months, and it has currently rebounded to near the upper rail of the weekly chart. The four-hour and daily stochastic indicators are also consistently overbought. While the market sentiment is bullish, attention still needs to be paid to the risk of retracement. With today's significant rally, it is advisable to avoid chasing the high in intraday operations. In the overbought situation on the half-hour and hourly levels, it is better to first focus on the pullback and recovery situation before assessing the strength of the rebound. The short-term resistance above is focused on the 3300 level of the daily chart upper rail, and the short-term support below is focused on the 3100 level of the four-hour moving average. Pay attention to the market rhythm. In summary, it is recommended to focus on shorting at higher levels in future operations. Specific points can be referred to as follows:

BTC: Short at 57500-57800, target 56000, defend at 58000

ETH: Short near 3280-3300, target 3180, defend at 3330

The above suggestions are for reference only. Specific operations should be based on real-time guidance in actual trading. "Weibo: Mufeng Looks at Trends" welcomes learning and communication together!

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