12.2 Morning Thoughts
It’s a new month again, and with the Spring Festival not far away, I can’t help but reflect on this year's gains in the cryptocurrency space, wondering if I have met my expectations!
After two days of consolidation over the weekend, Bitcoin's price remains in a broad fluctuation pattern, and so far, it has not shown any remarkable performance.
From the 4-hour chart, it can be seen that after the price dipped to the lower Bollinger Band yesterday, it rebounded to around 97300. At this time, the Bollinger Band is opening up, and the 5-day moving average is providing support at 97200. Although currently pressured by the 10-day moving average, the Bitcoin market is showing a complex situation of mixed bullish and bearish trends. After a slight decline this morning, a rebound occurred, but the extent of the rebound is limited, and overall it is trapped in a fluctuating pattern. Therefore, our strategy remains to operate with high short and low long positions!
Short around 97400/97700, looking down to 96000, if it breaks, look for 95000; if it doesn't break, we can reverse to long.
Short around 3710/3730 for Ethereum, looking down to 3620, if it breaks, look for 3550; if it doesn't break, we can reverse to long.
