Yesterday, in the article of Master, a long position was pre-buried in the range of 53000-53400, and the market fell to a minimum of around 53329 at 12 noon. Then it rose to a maximum of 55916 at 8 pm. The long position target of 54800-55900 in the article was accurately reached, and the pre-buried long position won a profit of 2500 points.
As for the pre-buried short orders in the range of 55900-56300, the market rose to a maximum of 55916 after 8 pm, and then the market fell to a minimum of 54827 after 9 pm in the early morning. The first target of 54800 for the pre-buried short orders in the article was accurately reached and 1000 points were achieved. In summary, the long and short orders in yesterday's article made a total profit of 3500 points!
Hot topics of Master Chat:
After the release of the non-agricultural data last night, the market rebounded in the evening. As for the recent rapid decline of the market, Master believes that one of the reasons is that the lack of funds in ETFs has led to a decline in the market's ability to take over.
This is definitely due to lack of liquidity and liquidation behavior. In fact, a large part of the main ETF transactions are for hedging and arbitrage.
This also means that they will also do futures trading on CME, including the option delivery yesterday afternoon. There are different price clearing points here, and these jumping points are bound to cause the currency price to oversell.
Therefore, I think the reason why the market is so uncertain now is that the ETF trading, which is the main force in the market, has stopped, which has led to the recent continuous decline of the market to find the final support and rebuild the bottom.
Master looks at the trend:
BTC 1 hour:
After Bitcoin broke through the 56K and 20-day moving average resistance mentioned by Master yesterday, it has now stabilized at 56K. It is currently trading sideways and has broken through the falling channel.
Although there are signs of a trend reversal, due to sideways trading and no new highs, I do not expect a sharp rise in the short term, but prefer a box formation in the range of 56K to 56.6K.
Taking into account the situation over the weekend, Shiye expects the price of the currency to consolidate within the box.
Resistance level reference:
First resistance level: 56650
Second resistance level: 57200
If the currency price breaks through the first resistance level, the possibility of rising will increase, so it is necessary to observe whether the first resistance level will turn into a support level, and ultra-short-term long transactions can be carried out through pullbacks.
When the price breaks through the high point, it needs to be accompanied by trading volume. There may be a lack of trading volume on weekends, so you can wait and see before adjusting your position.
Support level reference:
First support level: 56000
Second support level: 55450
If Bitcoin wants to rebound, it needs to hold the first support of 56K. I suggest that you can also pay attention to the trend of the 20-day moving average at the 1-hour level.
During the sideways consolidation period, it may temporarily fall below the moving average. If the K line is close to the moving average and 56K, then you need to wait and see and carefully adjust your position.
Today's trading suggestions:
In today's trading, although the price of the currency has broken through the short-term downward channel, due to the lack of trading volume, the position can be flexibly adjusted within the box of 56K to 56.6K.
Since the short-term trend is sideways consolidation and has not reached a new high, I believe that the probability of a trend reversal is low, and everyone can choose conservative trading when entering the market.
Please refer to these suggestions when trading
7.6 Master's short-term pre-buried order:
Long entry reference: 55100-55500 range, long in batches, defense 500 points, target 56000-56650
Reference for short entry: short in batches in the range of 57200-57600, defense 500 points, target 56650-56000
