Market Review and Technical Analysis
Yesterday's performance
The short position above 59,500 that was arranged yesterday was a little short, but the overall profit potential is still considerable. Bitcoin is clearly accumulating momentum for an explosion.
Daily Line Analysis
Trend analysis: On the daily chart, there is a prelude to a shooting star, and the selling pressure at high levels is severe. A short-term upward trend cannot conceal the risk of subsequent decline.
Key points: Support is at 57100 and high pressure is at 60300.
Four-hour analysis
Bollinger Bands: On the four-hour chart, the price is running in the rising channel of the Bollinger Bands, with short-term support at 57,000. If it breaks, pay attention to the support strength of 54,500.
Bullish and bearish forces: Pay attention to the suppression of 60100 on the upside.
One hour analysis
Bollinger Bands: On the one-hour chart, the price has entered a descending channel.
Key points: Pay attention to the top and bottom conversion pressure of 58200 on the top, and pay attention to the integer level of 56100 on the bottom.
Recommendations
Comprehensive analysis
Bitcoin has a certain upward momentum in the short term, but the selling pressure at high levels is severe, so it is still necessary to be cautious in the follow-up. It is recommended to continue to focus on rebound shorting.
Specific strategies
Short on rebound
Entry point: When the price rebounds to the 59500-60300 range, arrange a short order.
Stop loss point: set above 60,800.
Target point: The first target is 58200, and if it continues to fall, it can look to 57100.
Key support long
Entry point: When the price falls back to the 56100-57000 range, consider short-term longs.
Stop loss point: set below 55,500.
Target point: The first target is 58200, and if it continues to rise, it can reach 59500.
To sum up, although Bitcoin has upward momentum in the short term, the selling pressure at high levels is severe. For subsequent operations, it is recommended to focus on steady rebound and short selling, pay close attention to changes in key support and resistance levels, flexibly adjust strategies, and ensure the stability and security of transactions.
