12.27 Morning Thoughts
Let’s first look at the Bitcoin candlestick chart. We can see that the market continues the previous evening's trend, fluctuating between 95300 and 96300. Close to 1 AM, Bitcoin broke through the 96300 range, reaching around 96600, breaking the upper Bollinger Band on the five-minute chart. At that time, the five-minute MACD showed a bullish momentum.
We focus on market sentiment; around 5 AM, the bulls and bears began to contest the central point around 96000, with market sentiment being dominated by bears. The candlestick price repeatedly touched around 96000, and the bears quickly reclaimed lost ground.
From this, we infer that the rebound is merely a trap for longs.
We continue with the early morning thought: we ignore the rebound around 95800 and look down to 94300,
breaking through 94100, then aiming for 93300.
Enter the market in batches, targeting around 92000.
The second Bitcoin is in sync, aiming for shorts around 3345-3350, looking down to 3290.
