Market Review
The price of Bitcoin continued to crash, with the early trading price at around 57,000.
technical analysis
Daily chart
Overall trend: The bearish atmosphere continues to permeate, and the current market sentiment is relatively pessimistic.
Operation suggestion: The current market situation is not suitable for operating contracts. It is recommended to watch more and operate less.
Four-hour chart
Bollinger Bands: The price continues to decline within the Bollinger Bands opening, showing strong downward pressure in the market.
Signs of bottom divergence: There are certain signs of bottom divergence, and there may be subsequent pins to test the 54500 line.
One-hour chart
Pressure level: Prices fall after being under pressure from the middle track.
A new low is formed: the price falls below the previous low again, forming a new round of downward trend.
Recommendations
Robust Strategy
Hold short positions and wait and see: In view of the high volatility of the market, it is recommended to hold short positions and wait and see to avoid unnecessary risks.
Aggressive Strategy
Short on rebound: If the price rebounds, aggressive investors can consider shorting in the 57,000-58,000 range, with a target of 54,500 and a stop loss at 58,500.
Summarize
Bitcoin is currently in a strong downward trend, and investors are advised to wait and see when the market fluctuates greatly. Prudent investors can wait and see with empty positions, while aggressive investors can focus on short-term rebound opportunities and flexibly adjust their operating strategies to ensure the robustness and security of transactions.
This analysis provides detailed technical analysis and operational recommendations to help investors make informed decisions in the current volatile market and ensure the robustness and effectiveness of their trading strategies.
