Those who can buy are apprentices, those who can sell are masters, and those who understand how to hold cash are the ancestors! In trend swing strategies, the choice of entry points is secondary, while the choice of exit points is key. However, good capital management is the soul of trend swing trading.
Last night, the market experienced a rollercoaster-like movement again. The 4H level market briefly broke the support at 3530 mentioned earlier, closing at 3502 before rebounding. It then recovered the downward trend with consecutive bullish candles and entered a consolidation phase after testing the 3700 level. The point of the brief break is also near the 60-day moving average, so in the short term, we can continue to rely on this line of support for reference. This line is also near the lower boundary of support, so the short-term support is still based on the 3530 level. If there is a significant break below this support, we will abandon it and wait for a test of new support; conversely, we can enter the market. The short-term focus above is still on the previous high. If the previous high is broken, then we should pay attention to the resistance at 3880. For intraday trading, we should first focus on the aforementioned support and resistance for entry.
In the world of trading, the main forces of bulls and bears are often the same group of people, especially in heavily controlled markets, while the opposing side consists of retail investors.
12.4 Short-term suggestions: If 3750 does not break, short at 3730-3720, targeting 80-100 points.
If 3880 does not break, short at 3830-3850, targeting 80-150 points.
If 3530 does not break, long at 3580-3550, targeting 80-120 points.
The above suggestions are for reference only; please manage your risk well.
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 Big Coin, find Gege.
Written by/ I am Trader Gege, a friend willing to accompany you in your resurgence.
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