It is now 4pm Beijing time. The current price of Bitcoin is around 62700. It has reached the upper pressure level and failed to hit 63500 before falling back. The last order was 61500 short. Unfortunately, I left the market and was swept out. Since the 61500 short position test failed, I can continue to test the short position when I encounter the key pressure level. The stop loss is about 100 points above 63500.
Let’s look at the market. The previous flag pressure level was entered. The daily K-line also stood on the high level of the EMA trend indicator, but the trend indicator is still Contracting inward, at this time, the upward K-line is empty and does not have enough support, so it will not rush too high. Originally, MACD shrank and increased, and DIF and DEA spread downward from high positions. Now the spread is blocked, and the trend has not changed and is still empty. The daily K-line hit the Bollinger Band's middle regulation 62,800 pressure level. Continuous breakthroughs indicate that this position has strong pressure and can be effectively shorted.
After the four-hour K-line has formed a symmetrical triangle and coupled with the head-and-shoulder trend, the market broke through 59,000 and violently stretched to break 63,000, which can be regarded as a small-scale liquidation. Because the market's bearish target is at 50,000, which is too far away, we should be pragmatic and not look too far ahead. The immediate support point is at 60,000, and a flag pattern appears in the four-hour chart. The K-line has also reached the flag pressure level, so we can start to try short positions, with a target of 60,000. In terms of the overall trend, shorting at the pressure level is the main method for the time being, and not much. Even if the K-line breaks 63,500, it is better to leave the market with a small loss than to chase more, and wait for an opportunity to choose a new direction.
Short-term thinking reference: The market is not 100%, so you must bring a stop loss safety First, small loss and big profit is the goal
Today's thinking
Above 62500 to 63000 short, defense 63500 to cover short, stop loss 300 points, target 61800 to 61000, break to see 60500,
Below 60500 to 60000 long, defense 59500 to cover long, stop loss 300 points, target 61500 to 62000, break to see 62500,
