3.22 Is Bitcoin about to perfectly replicate its rebound and upward trend? There is a chance to get on the bus today!
Bitcoin started a correction trend yesterday after rebounding strongly from the bottom. In the short term, it is now going downward. In my personal judgment, the first possibility of such a trend is that the bottom will go out of a sideways shock range, and the support below will not fall. Break, it is just a sideways movement, a sideways movement that can be seen for four hours, that is, a large-level sideways movement.
Another possibility is that it will continue to rise after the correction. As shown in the figure above, the previous short-term breakthrough trend at the bottom first broke through the downward trend line, and then the price started to continue to rise after the correction stepped on the trend line!
Because we switch to the four-hour level, and then draw a downward trend line at the highest point at the top, we can find that the four-hour level now breaks through the trend line, and then steps back on the trend line, which is similar to the breakthrough we observed in the hour just now. The trend is the same, that is to say, if the trend line is stepped back, the price will still rise strongly for a period of time.
So the first idea is that if you see a rebound signal that crosses the trend line today, you can consider going long. There is no problem with this idea. The big level is still an upward trend. Last week's callback was only the first time in this period that it was relatively long. As time goes by, the trend will generally not continue after the first correction.
When it comes to rebound signals, what is a rebound signal? First of all, the simplest is to rebound and close the positive line. It is better to engulf the positive line. If you have studied technical analysis, you will know many bullish K-line combinations and bullish patterns. If you have studied indicators, you will know After stepping back on the moving average and rebounding, other indicators include golden cross, divergence, etc. It all depends on which one you use.
Then the first trend mentioned at the beginning is a large-level sideways shock. As shown in the picture, the picture is a sideways shock that can be seen at the four-hour level. The range range can only determine the resistance at the top of the range. Position, I don’t know where this support is yet, but it should be near the previous low.
But even if we move within a range, I think there will still be an upward trend. After the shock, it will return to the upward trend. The reason has been mentioned just now. Generally, the trend will not continue after the first correction. Now I am just talking about the time of the correction. Just long and short.
If it fluctuates, it will be obvious that the price will continue to fall today and will not rebound, so we will look for opportunities to get on the market at the bottom.
