1.9 Market Trends and Order Analysis

First of all, from the big crash the day before yesterday to today, the price of Bitcoin is still in the range of 10,000 points. Let's review and reflect on why the crash occurred. From the perspective of the dealer, the spot sales of more than 100,000 by the bulls below and various pursuits have caused the market sentiment to become very high. At the same time, the orders of the bulls have been increasing. Many people are optimistic about the new highs of the King of Understanding coming to power this time. Undoubtedly, the whole market is looking at it this way, but with CZ's 100,000 being too boring, it went directly to more than 90,000, completely cleaning up the bulls, and even getting locked in.

Back to the market, how should we look at it today?

First, let's look at the lowest position of Bitcoin at 92,500 in the early morning this morning. The 1H level closed at 1,500 points, so it can be temporarily considered that 91,500-92,500 is a pressure range. If we go long, can this range be used as our defensive position? It will be clearer if we do so. However, we should note that the current structure is short. Long orders are all counter-trend orders. Set a target and stop short. If there is no target, it is easy to spit back a lot. At the same time, pull the Fibonacci and see that the position of 0.618 hits 95700. Then we can pay proper attention to this point. In conclusion, I think this wave of callback has been adjusted and will go directly to 95700-97000 from the bottom, and then wash it again. Assuming that the big cake directly falls below 9W, I may chase the short at the market price, about 3000 points, and it is likely to go to 86000.

You can refer to shorting near 93000, and the target is near 95700. It is recommended to stop profit in batches at 94200 and set a capital preservation. $ETH