My conclusion for the past two days is: "From now on, short-term bullishness still has certain advantages." Next, I will briefly explain the reasons for this conclusion and future trading strategies.
In the past few days, the market has shown some positive signs, supporting the short-term bullish view. First, we have seen some positive signals on technical indicators, such as some signs of increased buying power on the daily chart, and the price has rebounded near some key support levels. In addition, market sentiment has begun to change, and investors have increased their optimism about the future, which may lead to more funds flowing into the market and support further price increases.
Based on the above factors, I think there is a certain advantage to being bullish in the short term. Future trading strategies can be to place long orders near the current position or key support level, set reasonable stop losses and targets, so as to obtain profits when the market rises.
4-hour chart
The current 4-hour 25EMA is still performing very well in the short term, so shorting from here will have certain advantages. No need to hesitate, enter the market boldly.
If the price breaks through the 25EMA at the 4-hour level, then the stop loss can be immediately made. However, the recent BTC main force short-selling behavior is frequent, so Jinrui believes that if the price rises strongly, it will often continue to rise instead of encountering a sell-off of chips.
Well, I will not take no action on the strong rise at the moment. Even if the price slowly rises and breaks through the 4-hour 25EMA moving average, I think it is still possible to fall again, so it is not too late for us to short below the 25MEA moving average.
1 hour chart
In addition, I am bullish in the short term for two reasons: the rebound even from the recent lows, plus the RSI indicator value is close to 30 (a signal of being oversold).
Although this is a short-term trend, I think it is feasible to be bullish. We can see the profit points: 1-hour 25EMA moving average ($63,314), 4-hour 25EMA moving average ($63,663). Because if you want to short at the 4-hour 25EMA moving average to hedge the risk, you don’t need to chase too much today.
I suggest that if you make a profit today, you should immediately pocket the profit. In addition, the moving average in the chart has begun to tilt, which means that the market price is likely to continue to fall. If it falls below the moving average, we need to stop loss immediately and then formulate the next strategy again.
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