Crypto Circle Scholar: 12.15 Bitcoin's Dominant Liquidation Triggers Sideways Movement, How to Find the Best Entry Point During Sideways Movement?
Current price of Bitcoin is 101330, it is now a little past four o'clock in the morning Beijing time, many crypto friends are asking at what position to take profits. My advice is to take half profits at 102500, there's no rush for the rest, don’t exit entirely, keep some base position. The current historical high is not the focus, but rather when the next upward movement will occur is unknown. Many crypto friends are positioning shorts above 102000. Regardless of whether it breaks 100000, before reaching 100000, one should exit when necessary, after all, the larger trend remains bullish, and all pullbacks should be treated as traps for shorts.
Daily K-line high of 102650, low of 100800, EMA15 trend indicator is still moving upwards and has broken 98500, expected to stretch towards the 100000 mark, at which point a new major trend will emerge. Before that, it is crucial to protect the chips in hand and prepare for another turnaround. MACD has been accumulating for four consecutive days with reduced volume, the top divergence trend always exists, and there are no downward signs for DIF and DEA, which remain at high levels. Additionally, the K-line continues to test below the upper Bollinger Band at 103000. Attention can be paid to the two key support points at the middle track 97650 and the lower track 92400, at least these two positions are entry points for long positions.
The four-hour K-line lacks sufficient momentum to break 103000, beginning to pull back and absorb positions, showing short indicators. The K-line pulls back to EMA15 support at 100900, which is not strong support. MACD volume has decreased, and DIF and DEA are contracting downwards at high levels. The Bollinger Band is also contracting, showing continuous pullback signs at the middle track support point of 100900. With prolonged defense, support will eventually fail, so 100900 should not be used as an entry point for long positions. Continue to look down to the lower track support at 99300, KDJ is forming a dead cross downwards, short positions can continue to be held. Those who have not entered can wait for lower positions to arrange longs, and follow the trend to make trend-following trades, while making fewer counter-trend trades.
Short-term strategy reference: Small losses for big gains are acceptable.
Short positions from 102000 to 102500, stop loss at 103000, stop loss of 500 points, target looking at 101000 to 100000, if broken look at 99500.
Long positions from 98500 to 98000, stop loss at 97500, stop loss of 500 points, target looking at 99500 to 100000, if broken look at 101000.
Long positions from 92500 to 92000, stop loss at 91500, stop loss of 500 points, target looking at 93500 to 94500, if broken look at 95500.