Xiao Feng: BTC and ETH are oscillating after the upward trend, short-term direction is uncertain due to the struggle between long and short positions.

CN
冯楚昊
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9 months ago

Mistakes must be acknowledged, and one must stand up straight when being hit. In recent days, I have been completely led by the market, and my subjective judgments and predictions seem hesitant in the fluctuations!

A simple review and summary of the analysis in the past two days, two points are summarized. Firstly, my speculative judgment on the breakthrough of the long position has clouded my mind a bit. Fans and friends all know that since the doji star at the bottom of the weekly line started last Sunday, Xiaofeng has been emphasizing the bullish view, and our analysis and strategies at the beginning of the week have been very smooth. Every transaction could be accurately grasped. Therefore, when the price hit the resistance level, it was believed that it would constitute a breakthrough because we have been targeting the 73,000 level for this round of rebound this week.

Secondly, the ability to respond is not good, and the change in short-term trends has not been seen in time. When the market showed obvious fluctuations, the long and short ideas were not firm, leading to the mistaken belief that it would pull back when it turned negative, and when it turned positive, it was mistakenly believed to be a breakthrough of the long position. After multiple breakthroughs and resistance at high levels, it should have been treated with fluctuations in a timely manner. Making mistakes is normal in so many years of analysis, but the stubbornness of self-righteousness when the short-term trend changes still needs to be corrected. We should return to the trend itself, rather than being influenced by our own subjective consciousness.

Bitcoin, the daily line shows obvious high-level oscillation adjustment, especially the resistance above 71,200, which hindered the breakthrough of the long position. The good rebound momentum formed at the beginning of the week suddenly stopped. At the same time, the daily line was expected to be uncertain for the second rebound after a substantial pullback. However, it is still in a long and short game at the moment, with a range of 69,000-71,000. It depends on which direction the daily line will break first at the top and bottom positions (note that the short-term breakthrough and breakdown cannot be used as a basis for judgment, and the focus should be on the daily closing price). In the short term, the pressure fell back to 71,000 yesterday, closing negative, and the daily line oscillated repeatedly in this range in recent days. Intraday, it will rely on this range to overestimate the high and underestimate the low, and not chase before the breakthrough.

Intraday, first rebound at 70,500-71,000 for short, and pullback at 68,500-69,000 for long.

Ethereum, the daily line actually shows a slightly bearish trend. After being pressured multiple times at the 3,670 level, the high point of the daily line has moved down. Currently, the resistance has sunk to the 3,600 level, and the short-term has also fallen below the long and short watershed of 3,550. Therefore, overall, Ethereum has the risk of downward movement at any time. Once Bitcoin fails to break through and drive the rise, the high-level oscillation will instead lead to a weak downward trend for Ethereum. In the short term, attention is needed at the 3,460 level for the pullback in the early morning yesterday, and the resistance at 3,550-3,600. Intraday, the same strategy of overestimating the high and underestimating the low should be adopted to respond to the market development.

Intraday, rebound at 3,550 for short, and 3,430-3,450 for long.

This article is original by Xiaofeng, and the above analysis is only for personal opinions and reference. Investment is risky, and market entry requires caution. Please indicate the source when reposting! For more analysis and suggestions, please follow the public account: Xiaofeng论币.

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