Pre-holiday market analysis and operation strategy!
đžAfter two days of volatility over the weekend, the weekly line of the big cake closed positively, and the overall weekly line showed a three-consecutive positive pattern, indicating that the long-term trend of the bulls is still bullish. The short-term volume and price diverge, the indicators are blunted, and the high-level continuous stagflation has gradually weakened the bullish momentum on the market. There is a need for a correction. The liquidity will be restored on Monday. It is expected that there will be a greater chance of a short-term retracement this week. It will fall in place or rush up to lure more and then fall. There are two ways of retracement. The first is to keep running above the trend line of 63500-64000 (bullish strong), and the second is to directly break the trend line for a multi-to-empty conversion. The market will step back to the 60000-61000 support for confirmation. The overall trend is bullish, and the small trend is expected to retrace. After completing this consolidation, the big cake will aim at 70,000.
đžEther 2700-2800 is the reversal zone, which has been attacked for a long time and cannot be broken. Here, it will also link with the need for a retracement of Bitcoin. The retracement will see the support of the 2500-2550 box, and the break will see the strong support area of ââ2400-2450. The overall trend is still bullish. Short-term retracements can be arranged in batches at lows, and the long-term idea remains unchanged.
đžSpot strategy:
1: For three consecutive days, it is suggested to reduce positions at highs. Those with heavy positions continue to maintain this idea. Complete the batch reduction action at highs and spend the National Day holiday easily. After the holiday, we will work directly until the holiday, and follow the market trend in the fourth quarter.
2: Bitcoin first stepped back to the 63500-64000 trend line without breaking, which is a good short-term band position. Those who have time to watch the market can participate in the corresponding currencies.
