3.30 Bitcoin is about to hit a key support level! The market trend is about to begin!
Yesterday we mentioned that the price of Bitcoin fluctuated sideways at the one-hour level, and then encountered resistance many times at the top of the range. Therefore, we expected yesterday that the price might fall back below this volatile range, and then open up. Downward trend.
Then it is believed that if the price falls below the short-term shock range, the price will form a converging triangle shape at the daily level. Then we have the opportunity to enter the market at the bottom of this triangle pattern and get lower-priced chips.
The above is the analysis of our article yesterday. Now let’s take a look at the current price trend. As shown in the figure, we can see that the price has indeed fallen to a certain extent and fell below the box range we drew yesterday. However, Later, the price did not start a downward trend. Instead, after falling below the range, the price rebounded back to the inside of the range.
And now there are signs of a weak rebound in the range, then the price will have a variety of trends, as shown in the picture, I have marked them. One is that the price returns to the bottom of the shock range and continues to rebound. In such a situation, we must continue to be bullish and cannot see a decline for the time being.
Either one is that the price will continue to fall below this volatile range. If it falls below, I think we can find opportunities to try short selling, because such a decline is also in line with the pattern that may occur at the daily level, such as backtesting support. The resistance swap point continues to fall, which is a very good entry signal.
So today we provide two ideas. The main key is the support position at the bottom of the current short-term shock range. If it falls below or not, it will be the opposite trend. Then there may be people who will complain about you both long and short, and you are right no matter what.
Having been doing market analysis for so long, I usually block such comments when I see them, because most of these people want to find people with the same views as themselves to seek psychological comfort, and they have no idea that the market can change at any time. of.
But thinking that there are still people who are novices, I would like to say a few words here. What I share is all market analysis. No one can predict the price trend, but I have provided solutions for us to deal with different trends.
If I say that the price will definitely fall back to the support level today and continue to rise, and that is the only plan, then when the price falls below the support level, what will you do? Will you continue to hold the order?
