The god of war a hundredfold, the journey of ten thousandfold

CN
4 months ago

This wave of ultimate market manipulation is really unpredictable. There's no chance to adjust over the weekend, and once there's a chance, it's going south. The downward trend is so smooth, without any resistance. I said yesterday that at this rate, we'll soon reach 55. As a result, at the start of today, Monday, it dropped by two to three thousand points. 55 is about to come. It's completely unsustainable. Currently, in terms of layout, if you don't have any positions, wait for a bottoming out and then consider positioning near 55.

From a technical analysis perspective, looking at the daily chart, the northward movement of the past month was reversed in just one week. The daily chart also shows a significant market manipulation. This trend is definitely going to take a downturn, possibly to 53 or 54. Currently, the moving average continues to increase without any signs of reduction. If you want to position yourself, you still need to wait. It's not a good time to chase the downward trend at the bottom, as there's only a little bit of meat left on the fish tail. There's no need to eat it, but the most important thing recently is to manage the risk as the volatility is still too high.

Bitcoin trading recommendation: Go long near 55,000

Target: 58,000

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