Zhou Yanling: 12.3 Bitcoin is in a tug-of-war between long and short, facing a critical choice. The return of Ethereum's supplementary rise is still bullish.
Don't think about where the coin price can fall today. In the past few days, as long as there is a decline, the drop has been significant. Compared to the highs, each drop has been at least three to four thousand points. However, according to the market price, this week's decline has only been 4000 points, which is not enough to directly determine that Bitcoin has established a trend. Each rebound after a drop has also been substantial. Therefore, if the market keeps rising, you are looking down to reverse. But if it keeps oscillating below the mid-line, you need to watch for a continued decline. This depends on the price; if 94000 doesn't break, how can you look for a new wave of downward trend? For this kind of cyclical adjustment, breaking 94000 will require at least two tests to be evident.
It's still around 96,000 now, with such dense support below. If you really want to short at this price, you might as well go long instead. In terms of trading cost-effectiveness, a rebound is more favorable. There may be quite a few who caught the shorts today, but there will surely be no shortage of those who go long around 94,000 afterward. Since there can be a rebound, it indicates that the market is fluctuating under consensus. Simply put, don't go against the market; just do what it does, and you won't encounter major problems. The awkward part now is that the short entry point hasn't reached a good position yet, so if you want to operate urgently, Yanling suggests waiting a bit longer for a better entry point.
12.3 Bitcoin operation strategy:
1. Long at 95400-96000, stop-loss below 95000, target 97000-97500, continue to look for upward movement towards 98600.
2. Short at 97300-96800, stop-loss above 97800, target 95500-95000, continue to look for a downward breakout towards 94000.
12.3 Ethereum operation strategy:
1. Short at 3730-3690, stop-loss above 3770, target 3620-3590, continue to look for a downward breakout towards 3530.
1. Long at 3580-3620, stop-loss below 3540, target 3720-3760, continue to look for upward movement towards 3840.
[The above analysis and strategies are for reference only. Risks are to be borne by yourself. The article review and release may have delays, and the strategies may not have timeliness. Specific operations are subject to Yanling's real-time strategies.]
The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other cryptocurrency contracts/spot trading. For more real-time community guidance, liquidation consultations, and learning trading skills, you can follow the teacher's public account: Zhou Yanling to find the teacher.
