First, let me share the market trend:
1️⃣ BTC 4-hour K-line trend:
Resistance level above: around 97685 to 99900
Support level below: around 94350 to 95530
If this support level is broken, it may go to around 90,000 USD! Be sure to defend well!
2️⃣ ETH 4-hour K-line trend:
Resistance level above: around 3450 to 3500
Support level below: around 3310 to 3380
Technical analysis:
First, the 4-hour K-line of Bitcoin shows a shrinking rise! The 4-hour K-line experienced a top divergence yesterday, with the price deeply retracing and breaking below the support level of the price channel around 97700. Currently, it is still fluctuating at the high point of the price channel, and the trading volume performance is poor, with weak rebounds. Please pay attention to the pressure level of the price channel around 97970. The current market has not yet stabilized, so do not blindly chase highs, and be cautious of risks! Currently, this is a rebound after a decline, and there is still a possibility of a second bottom test!
Second, the trend indicators of Bitcoin below the 6-hour period are still showing a bearish trend. The short-term operating strategy is to short when the price is high (control the position and leverage well, set stop-loss and take-profit, the current situation is not suitable for opening high-leverage contracts)
Third, analyzing from the 4-hour MACD indicator of Bitcoin, there is a short-term need for a price pullback. In the future, short when the price is high. Once the price rebounds to the small cycle 15-minute, 30-minute EMA60 moving average, double top pattern, or important neckline resistance level, it is the best opportunity to enter short positions! If a bottom divergence pattern appears in the small cycle 15 minutes, consider entering long positions with light positions for small segment profits! (Please set a stop loss, and leverage should not be too high)
Investment involves risks, and caution is required when entering the market. The above analysis is for reference only! You can also make corresponding layouts for some altcoins based on Bitcoin's correlation effect!
Wealth code:
BNB coin is currently showing a strong bullish trend. In the daily period, use the moving average strategy for spot entry. Enter the position when the price retraces to around the EMA30 lifeline 698, and add to the position when it drops to around the EMA60 strategy line 676. Position management uses 352.
The above market trend analysis and investment research wealth code are for reference only! Hope it helps everyone!
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