Last night, Bitcoin's trend reversed dramatically, and the price rebounded strongly. The previous short position strategy was lost due to the rapid rise of Bitcoin last night. However, the fans of Tenpan did not act rashly when the market fluctuated violently, and successfully avoided this wave of risks. As Bitcoin successfully broke through the four-hour middle track, some investors seized the opportunity to chase the long position, and gained about 2,000 points of profit in one fell swoop, taking the lead in this market game.
At present, from the four-hour K-line chart, the price of Bitcoin was blocked and fell back when it touched the upper track of the Bollinger Band. In terms of technical indicators, MACD is in a state of continuous bullish volume, which means that the power of the bulls has not completely dissipated and there is still a certain potential for upward attack; but the KDJ indicator on the contrary has turned downward, which is undoubtedly a signal worthy of vigilance, indicating that the short-term market is likely to usher in a correction.
At this time, the key intraday point focuses on the middle track of the Bollinger Bands at 96000. If the price retraces and falls below this point, the subsequent market may continue to decline, and investors can follow the trend to short; conversely, if it can hold above, the bulls may make a comeback, making going long a wise choice.
From the daily level observation, the candlestick is gradually approaching the middle track, with the bearish energy bar continuously shrinking, as if making way for the resurgence of bullish strength; at the same time, the KDJ indicator shows an upward turning trend, further indicating that bulls are accumulating strength. However, it is important to note that a strong resistance level has formed near the middle band of the Bollinger Bands at 99700, significantly suppressing the upward movement of the price.
Based on the analysis of the daily and four-hour levels, a relatively steady operational approach for the day should be to short high and long low, adjusting strategies flexibly according to market changes.
Operation suggestions
1. Bitcoin: Long at the range of 95800 - 96500,
Target above: 99000 - 100000.
Entering this range is based on the price being near key support; if it stabilizes and rebounds, there is considerable upward potential.
2. Bitcoin: Short at the range of 99000 - 99700,
The target below is 97000 - 96000.
This range is close to a strong daily resistance level, and the probability of the price encountering resistance and retreating is relatively high.
It is essential to remember that cautious operations are necessary to navigate steadily in the unpredictable market.
