Coin Circle Yuelin 1.10 Friday, Bitcoin, Ethereum Morning Strategy!
Good morning, friends in the coin circle, I am your lucky goddess Yuelin. Last night the US stock market was closed, and the main short positions are still adjusting. Bitcoin has fallen for three consecutive days. Is there a hidden rebound opportunity under the bearish trend?
In the past three days, the price of Bitcoin has dropped significantly, and the trend is worrying. The price briefly plunged to around 91000, clearly forming a descending channel on the K-line chart, with a strong bearish atmosphere in the market.
From a technical indicator analysis, the MACD indicator on the hourly chart is in the negative zone, with the DIF line and DEA line diverging downwards simultaneously. This pattern is a typical short-term bearish signal, indicating that bearish forces still dominate in the short term. Looking at the EMA moving average system, all three lines are trending downwards, and the Bitcoin price is below all moving averages, further confirming the current overall bearish trend. Following this trend, the Bitcoin price seems likely to continue to decline. However, the market is always full of variables. There is certain rebound space for Bitcoin price, and once the bullish forces gather, it may trigger a round of oversold rebound.
Overall, today’s main tone for Bitcoin operations is still bearish. However, given the oversold situation indicated by the RSI indicator, we need to be cautious of short-term rebound risks. It is recommended that the ideal entry point for short positions is at 94000 and 94800 levels, with the first target below focusing on the previous low of 91000. If this point is lost, the further target looks towards the integer level of 90000.