7.5 Bitcoin and Ethereum plummeted, follow-up trend analysis and operational suggestions!

CN
允彦
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3 months ago

Trading philosophy: Look at the trend in the long term, find the position in the short term;

Technical analysis: Regarding Bitcoin, the daily chart has seen three consecutive bearish candles, the Bollinger Bands continue to expand downwards, the MACD and KDJ lines are moving downwards, and the bearish volume continues to gradually increase. On the 4-hour chart, the Bollinger Bands continue to expand downwards, the MACD line is moving downwards, the bearish volume continues to increase but gradually decreases, and the KDJ line starts to move upwards for adjustment. As for Ethereum, the technical indicators on various timeframes are basically synchronized with Bitcoin;

In summary, the overall trend is currently leaning towards bearish. The strategy of going long first and then short on Bitcoin yesterday basically met expectations, while Ethereum failed to grasp accurately. In the evening market yesterday, Bitcoin tested the 56500 level and Ethereum rebounded to around 3100, reaching Bitcoin 58500-59000. Ethereum only reached around 3160 before falling again. As of now, Bitcoin has reached around 53500 and Ethereum around 2800. The strategy of going long first and then short on Bitcoin in the evening yesterday successfully captured two waves, and the profit exceeded expectations. I did not expect the market to fall so quickly. The subsequent operation is similarly suitable for aggressive long positions in the short term, and patiently waiting for the rebound to continue to go short in line with the trend!

Reference:

Long position at the current price of Bitcoin at 55000-55500, target 56000-56500, stop loss at 54500; Short position at 56500-57000, target 55500-54000;

Long position at the current price of Ethereum at 2940-2970, target 3050-3100, stop loss at 2900; Short position at 3050-3100, target 2950-2850;

The strategy is time-sensitive, specific guidance should be based on real-time instructions.

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