Yesterday, the 920 did not break and there was a 4-hour level rebound, but in the end, it still did not stabilize. One could even say that danger is approaching. Today is the day when the annual line, quarterly line, and monthly line all close and change to a new K. Let's take a look at the market, and you'll understand why danger is approaching.
First, let's look at the annual line:
Volume decreased while the price increased, showing a clear volume-price divergence (the transaction volume and price are positively correlated; without volume, the rise will be very quick to fall back down, and the price range in between is a vacuum).
Now let's look at the quarterly line:
Once again, there is a volume-price divergence, RSI has entered the overbought zone, and the upper shadow is long, with strong selling pressure. The price needs to return to a suitable range for strong buying power to provide support. At least now, there hasn't been a real test of strong support; 90k is the only defense line right now. As long as the small scale does not break 932, it's still acceptable. Anyway, the risk of going long is greater than going short; long positions can only be short and quick. The market movements these past two evenings have proven this.
Now let's look at the monthly line:
Just asking if it looks similar, the left side is a doji star, the right side is a hanging man, and there is a large futures gap below.
But as everyone has seen, there is also a gap at 1030 that needs to be filled. The large-scale pullback takes a long time, so we can only confirm it on a smaller scale:
The daily line tested the upper pressure yesterday, but unfortunately, it did not close above 937 and did not confirm the support at 920 with volume. Therefore, we should consider at what price to go short; let's look at the smaller scale:
The top keeps lowering, with pressure at 957. There are heavy resistances to break through at 964, 972, and 996. Near 920, long positions can gradually move their stop-loss positions up. If the first level of pressure breaks, the stop-loss can be placed 100 points below. If all break, then the upper pressure is 1030, and it's not that optimistic right now.
For short positions, we are now looking at the pressure situation near 957 or the breakdown of 920; if it breaks, chase the short.
BlackRock's big Bitcoin ETF has also been in a state of outflow these days.
The clearing map also shows strong air force power.
Anyway, it's better to be cautious; going short is safer.
The analysis of the morning trading ideas is complete. What do you think, dear viewers? Feel free to discuss and exchange ideas in the comments. Here is your little white, analyzing blindly for free every day (heart emoji).