The rebound performance of Bitcoin in the short cycle is still relatively obvious. After a round of bottoming out in the 62800 area yesterday, it rebounded and the high level reached around 64700, which can be regarded as continuous pressure. This position is also the key pressure point we emphasized yesterday. It is both the starting point of the last decline and the suppression point of the downward trend line. Therefore, we should maintain the principle of following the trend. In terms of intraday thinking, we should continue to pay attention to the suppression near 64700. We should rely on the upper suppression to look bearish first. If there is an unexpected breakthrough, we should make adjustments in the market.
From the current trend, the action at the end of the week is running in a strong rhythm. The daily level forms a downward exploration and upward momentum. In just three days, it has risen by 8000 points, with fierce fluctuations, widening space, and going back and forth. But the law of the market is that there are ups and downs. If you pursue unilateralism too much, you will easily hit a wall. At present, the trend of the four-hour trend has already fallen under pressure, the rebound momentum has begun to weaken, and the price has shown a downward trend. Therefore, we need to pay attention to the decline of the market during the day, and operate with the idea of rebounding and shorting.
Monday morning operation suggestions:
Bitcoin: short-term rebound around 64000-64500, short position, target 63000-62000.
Ether: just follow the same thinking, keep a good position, and take good defense!
Cognition is your wealth, choice is more important than hard work, those who understand will understand!
