Crypto Circle Academician: 11.11 Bitcoin short position trial continues, maintain rational layout!
Current price 81,500, the short position has been adjusted to 81,000, a total adjustment of 9,000 points from 73,000, adjusted from the 6th to the 11th with several sleepless nights, arrived at the defensive position of 81,500 at six in the morning, adjustment ended, slept until now, very similar to the market situation at the beginning of March, last time adjusted more than 13,000 points, finally captured 7,000 points of space, this time the body is getting weaker day by day, it’s tough to get through one hurdle after another, before the market breaks out, it was not discovered, only after it breaks out did I realize I encountered a counter-trend position again, I suggest everyone to mainly follow the trend, set stop-losses, and exit with small losses if wrong.
The trading volume on the market has begun to decrease significantly after the daily K-line hit a new high and failed to break through 82,000, compared to the previous few days, the market has decreased noticeably. The EMA15 trend fast line has been stretched to 74,000, and it is expected to continue stretching, ultimately settling around 76,000. MACD continues to increase in volume, DIF and DEA are expanding upwards, and the K-line is continuously spreading along the upper Bollinger band at 80,350. It is expected to return to the Bollinger channel during the day, KDJ is contracting inward with resistance at 82,000.
The current rising triangle's first target of the four-hour K-line has reached 82,000, what remains is to see the pullback. If the pullback cannot drop below the triangle trend line and the EMA15 trend support point at 78,650, it is highly likely to return to the 80,000 range for consolidation. It can be a key focus, and if it cannot hold, a short position can be taken again with more than 2,000 points of space. MACD shows a large and small volume indicator, remember a mantra: a large and small golden cross means to run when there's a death cross, simple and easy to understand. The upper Bollinger band resistance level to watch is 81,500, and the middle track support point is 77,700.
Layout reference: The market is not 100% certain, so it is essential to have a good stop-loss; safety first, small losses and big gains are the goal.
Current trend layout, the average price has reached 81,000, holding short, continue to adjust positions after clear pressure above 82,000, the old rule is to return to the average price, sell the added portion, and hold the rest.
Intraday thoughts
Short position from 81,500 to 82,000, stop-loss 500 points, target looking at 80,500 to 80,000, if broken look at 79,500.
Long position from 78,500 to 79,000, stop-loss 500 points, target looking at 80,000 to 80,500, if broken look at 81,000.