Bitcoin's daily trend closed strongly on Friday. After a brief adjustment over the weekend, it slipped from the 64,500 level today, but still held above the 5-day moving average. Technical analysis shows that the current decline may be unsustainable, and the market may enter a volatile pattern with signs of a small-scale rebound. Therefore, the operation strategy should be biased towards bearishness after the rebound, be cautious about rising signals, and reduce aggressive attempts. Tonight, the market may show two dynamics: one is repeated fluctuations around the 63,000 to 64,500 range; the other is a brief rebound to around 64,000 before being under pressure to fall again. For medium-term investors, maintain the high-level short-selling position unchanged and wait for the market to further develop.
Bitcoin's 4-hour chart shows that the price hit the 65,000 high again in the early morning this morning and failed, forming a double top pattern, indicating heavy pressure from above in the short term. The current market is waiting for tomorrow's news guidance. No matter how the data is interpreted, the short-term bearish atmosphere is difficult to reverse, and we need to be vigilant about the possibility of a further decline or direct decline after the rebound. Today's focus is on the support of the 10-day moving average above 64000. If this line is not lost, the market may maintain a strong consolidation trend, otherwise it may start a new round of adjustments.
Dabing recommends a short target of 62500 near 63600-63800
Yitai recommends a short target of 26700 near 2740-2750
Yingkui will be open to the entire network every day, and short-term ideas and strategies will be updated daily. Friends who are not good at operating themselves 💧💧
If everyone needs to follow up because of the shrinking position or the tricky orders in their hands, friends who need help can always find Lao Gao
