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 buying points is secondary, while selling points are key; however, good capital management is the soul of trend swing trading.
From last night to this morning, the market underwent a strong washout, with the price dropping from 3960 to 3615, a decline of over 300 dollars. After a spike, it rebounded, forming a pin bar on the daily chart. The current price has returned to around 3900. Such market behavior is normal in a bull market and also reaffirms the market's treachery. Sudden drops and washouts often occur in a bull market, so there’s no need to be overly alarmed; just manage your risk well. We must maintain a sense of reverence, as this is a common topic.
On the 4-hour chart, a series of bearish candles touched the MA60 and received support for a rebound. For the short term, continue to reference the support near MA30 and the middle band. Since there hasn’t been much change in the washout prices and the key support and resistance levels have not been broken, simply put, the short-term strategy continues to follow yesterday's approach.
Short-term suggestions for 12.6: If it doesn't break 3700, buy between 3750-3730, aiming for 80-150 points.
If it doesn't break 4000, sell between 3970-3980, aiming for 80-100 points.
If it doesn't break 4100, sell between 4060-4080, aiming for 80-120 points.
The above suggestions are for reference only; please manage your risk well.
Wishing you successful trading!
Written by/ I am Trader Gege, a friend willing to help you rise again.
Alright, friends, we’ll say goodbye until next time. I wish everyone continued success in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin, find Gege.
Written by/ I am Trader Gege, a friend willing to help you rise again.
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