$BTC Are you open now? Or open short? Since the opening on Monday, it has surged all the way to 66,500, and the market has been boiling! Everyone is trying to find out what is the reason for the rise, and whether it is about to break a new high?
If you don’t have a position yet, you might as well listen to the immortal’s opinion~
We mentioned in the article a few days ago that this week is expected to be a bullish week, because October 17 is the full moon day, and according to usual experience, there is a high probability that it will rise. but! ️The increase started this week, but it started much earlier, and from technical analysis and market news, it seems that there is no opportunity and increase for this increase.
Next, let’s look at the weekly chart below. From the weekly chart, we can see that there were three deep lower shadow bullish lines during the downward channel. We can see that the first two times were followed by a weekly line with a more violent rise, that is, It is said that if the same phenomenon occurs this time, there is a high probability that it will rise again and touch the upper edge of the downward channel. This upper edge is great! Very! Very important! If there is a false breakthrough, then there is a high probability that it will continue to fall following the previous two times (and there is a high probability that it will fall rapidly the next week).
Let’s look at the two daily charts again. We can see that the results of the first two K-lines were not very good, and they both started to go down on the third day after a sharp rise. Therefore, we must pay close attention to the trend the day after tomorrow❗️In addition , since this time 38000, all the daily lines that are greater than the range of more than 3000 points in a single day have been covered. However, recently there have been two daily lines that have not been covered‼ ️
Okay, having said so much, finally, let’s briefly talk about the conclusion:
⚠️1. Before closing this Thursday, I am optimistic that it will hit the upper edge of the descending channel: 67500-68500.
⚠️2. But after closing this week (after Thursday), I tend to have a high probability of starting a correction!
🏆Entry position:
1. The short order position is 68,000, and the stop loss exceeds 70,000.
2. The long position is 63200/61600.
👍Finally, don’t forget to advertise for your team! Everyone is welcome to join!
Join the Contract Traders Alliance! www.binance.com/FGT/BinanceTradersLeague2024/futures-team?referral=206-173994758
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