Crypto Circle Academician: The signal of the bearish trend on 12.20 has emerged! The main force is liquidating long positions! How to find rebound opportunities in the downward channel?
The current price of Bitcoin is 96000, and it's 4:20 AM Beijing time. The main force continues to liquidate long positions, with the last long at 99000 profit-taking at 102500. Congratulations to the friends who shorted at 102500; after breaking the previous low of 99000, it is highly likely to return to test the support point of the 95000 upward trend line, which is also a point of long and short exchange. This is a key point; after breaking it, the bearish trend comes. If the range does not break, then the bulls may have a chance to make a comeback, so safety first – focus on surviving before considering profits.
The daily K-line's highest is 102800, and the lowest is 95700. The EMA30 trend support point has lost support at 96950. The next support point to watch is the Fibonacci retracement level of 0.236, supporting the momentum in the range of 94400 to 95000, which is choosing a direction. MACD shows a decrease in volume; the DIF and DEA have indeed formed a death cross at a high position, starting to spread downwards. After breaking the middle line of the Bollinger Bands at 99650, it has impacted the lower track downwards. Pay attention to the lower track support point at 93500 as the second test point for long positions. KDJ is spreading downwards; the short position has not yet ended, and aggressive traders can take profits in batches for shorting.
The four-hour K-line EMA trend indicator has formed a net expansion trend downwards. The EMA15 has already broken below the EMA60 indicator at 101800, starting to impact 100900. Pay attention to the strong resistance at the 100000 level. MACD continues to decrease in volume downwards; the DIF and DEA have fallen below the 0 axis, entering a bearish trend. A short position is inevitable; the Bollinger Bands are expanding outwards, pulling the distance between long and short apart. The lower track has already come to support at 97500, and the K-line has broken below the lower track. The overall trend is starting to revolve downwards around the lower track line, forming a descending channel. The mindset should be to test short positions above 100000; do not trade if the trend does not correct, and trade when it does.
Short-term trading ideas: The market is not 100% certain, so always set stop-losses; safety first. The goal is to minimize losses while maximizing gains.
Long position testing point is from 94500 to 94000, with a defensive point at 93500, stop-loss at 500 points, target looking at 96500 to 97500, and a breakout looking at 98000 to 99000.
Short position testing point is from 99500 to 100000, with a defensive point at 100500 to 101000, stop-loss at 500 points, target looking at 98500 to 97500, and a breakout looking at 96500 to 96000.
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