Price trend: Bitcoin price fell sharply from the high point, the decline was close to 6,000 points, and the lowest reached around $52,500. The price has rebounded recently and is currently running around $54,000.
Bollinger Bands: The short-term hourly chart shows that the Bollinger Bands are closing, and the price is below the middle track, indicating that the market supply and demand are balanced, but the price has failed to go further, showing signs of pressure.
MACD: In the 4-hour cycle, MACD continues to be negative, and the fast and slow lines diverge downward, indicating that the short force is strong. The relatively low position of RSI further confirms the weakness of the market. The moving averages are in a downward trend, the price is below the moving average, and the overall is in a low-level oscillation.
Market sentiment: Although the price rebounded after hitting $52,500, the upper pressure still exists, and the pressure level has a tendency to move downward. On the daily chart, MACD continues to move downward, and the bearish sentiment is strong. Although there is a small rebound, it has not broken through the key pressure level.
Operation suggestions:
BTC long order: If the price falls to the 51,000-50,500 range, you can consider going long, with a target price of more than $52,500.
Short order: Short in the 54,500-54,800 range, the defense position is set at 56,500, the stop loss is 56,800, and the target is below 53,500. Short in the 55,600-56,000 range, the target is also below 53,500, and the stop loss strategy is the same.
ETH short-term operation:
Short order: Short in the 2320-2351 range, defense 2450, stop loss 2480, target below 2240.
Long order: Pay attention to the breakout of 2080. If the price is in the range of 2000-2040, you can consider going long with a stop loss of 50 points and a target of above 2140.
Important reminder: The above strategy is for reference only. The market is changing rapidly. No matter how confident you are in judging the market, stop-profit and stop-loss are necessary to ensure safety.
