Those who can buy are apprentices, those who can sell are masters, and those who understand holding cash are the ancestors! In trend swing strategies, the choice of buying points is secondary, while selling points are key; however, good capital management is the soul of trend swing trading.
After breaking through 3550 last night, the market has been slowly rising, facing resistance and adjusting around the 3680 line. After consecutive bullish candles on the 4-hour chart, a bearish candle has formed for adjustment. If there is another upward test after a short-term adjustment, pay attention to the resistance at the 3720 line, which serves as the upper boundary. On the downside, short-term support is focused on the 3530 line, which is also the area of K-line top and bottom conversion. If a break occurs, extend your focus to the 3420 line, which is near the middle track of the 4H chart and also the 61.8% Fibonacci retracement of this upward trend.
Today, the U.S. stock market is closed for a holiday, and it is estimated that the market will experience range-bound adjustments. For now, focus on the aforementioned support and resistance levels and flexibly intervene in the short term based on your actual situation. Note! With the U.S. holiday, there may be suspicions of sell-offs and washouts; in extreme market conditions, try to observe more before taking action and arrange risk control properly.
11.28 Short-term suggestions: If 3720 does not break, short at 3670-3680, targeting 80-120 points.
If 3530 does not break, long at 3580-3550, targeting 80-100 points.
If 3420 does not break, long at 3470-3450, targeting 80-150 points.
The above suggestions are for reference only; please manage your risk properly.
Wishing you successful trading!
Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions from the market, find Gege.
Written by/ I am trader Gege, a friend willing to accompany you in your resurgence.
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