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Yesterday, Bitcoin showed a fluctuating downward trend, allowing for short positions in the 960-965 range. The four-hour market experienced a slight rebound, and before the U.S. stock market opened, Bitcoin reached a high of 965. The rebound brought us back in, but once the U.S. stock market opened, the market rapidly declined from 965 to 929, a drop of nearly 3500 points. Although the wave target was reached, there is still some space for medium to long-term positions, and at this time, the strategy is to reduce positions to bet on my target point. Last night, I also shared the trading system with everyone in advance!
From the daily structure, Bitcoin is still fluctuating in the middle-lower track, and the recent short momentum is very obvious. In the four-hour cycle, the price has shown multiple upper shadows at high levels, indicating that the main force above is taking profits. The MACD technical indicator is currently in negative territory, and with the DIF and DEA expanding downwards, the overall trend needs external news to stimulate a return to bullishness; otherwise, it is difficult for this market to have a significant rebound!
Currently, the candlestick has shown four consecutive declines, and the intraday trend is mainly bearish. The upper resistance level to watch is 96000. If it does not break through the upper level or stabilize, short positions should be planned around the 945-950 range, with target support below at 92000. If it breaks, we can continue to look down at 91000-90000.
No ambiguous analysis, only my own trading system! $BTC
From the daily structure, Bitcoin is still fluctuating in the middle-lower track, and the recent short momentum is very obvious. In the four-hour cycle, the price has shown multiple upper shadows at high levels, indicating that the main force above is taking profits. The MACD technical indicator is currently in negative territory, and with the DIF and DEA expanding downwards, the overall trend needs external news to stimulate a return to bullishness; otherwise, it is difficult for this market to have a significant rebound!
Currently, the candlestick has shown four consecutive declines, and the intraday trend is mainly bearish. The upper resistance level to watch is 96000. If it does not break through the upper level or stabilize, short positions should be planned around the 945-950 range, with target support below at 92000. If it breaks, we can continue to look down at 91000-90000.
No ambiguous analysis, only my own trading system! $BTC
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BTC
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