Those who can buy are apprentices, those who can sell are masters, and those who understand staying in cash are the ancestors! In trend trading strategies, the choice of buying points is secondary, while the selling points are key, but good capital management is the soul of trend trading.
Last night, there was another roller coaster market. The 4H level market pierced through the support at the 3530 line mentioned above. It rebounded at 3502, then continued to recover from the downtrend with consecutive bullish candles. After testing the 3700 line, it entered into a consolidation phase. The pierced point is also near the 60-day moving average. In the short term, you can continue to rely on this support line for reference. This line is also the support near the lower boundary, so the short-term support is still based on the 3530 line. If there is an entity break of this support, then abandon it and wait for a test of new support; conversely, you can enter the market. The short-term focus above is still on the previous high area. If the previous high is broken, then focus on the resistance at the 3880 line. For intraday, first pay attention to the above support and resistance for entry.
In the world of trading, the bullish and bearish forces are often the same group of people, especially in heavily controlled strong stock markets, while the opposing side consists of the general investors.
12.4 Short-term advice: Do not break 3750, short at 3730-3720, look for 80-100 points.
Do not break 3880, short at 3830-3850, look for 80-150 points.
Do not break 3530, long at 3580-3550, look for 80-120 points.
The above advice is for reference only; please do a good job of risk control.
Wish you smooth trading!
Alright, friends, we will say goodbye until next time. I wish everyone to do better and better, and may you have a bright and smooth future in the crypto world! More real-time advice will be sent internally. Today's brief update ends here.
Text/I'm the trader Gege, a friend willing to accompany you in your comeback.
