9.8 Medium and long-term layout, long or short? The Huamen market has ended, it's time to make a choice.
The current shock is to wash out the last batch of people with weak wills. The opportunity is fleeting. From the daily line, BTC has been falling for nearly 10 days, and the short volume is shrinking. From the time and range of adjustment, this decline is nearing the end. Bitcoin will fluctuate at the latest until the US CPI is released on Wednesday this week, and then start the last wave of V-shaped rebound! At present, this rising wedge is more like a falling relay, not a bottoming pattern.
From the perspective of 4 hours, the main structure is still short. This rebound belongs to the local trend after oversold. Under the premise of retail investors taking long positions to buy the bottom, there is a certain rebound space, but the initial rise is difficult to continue. After the high, it should be viewed with the idea of active selling. After 4 hours of sideways consolidation, consider the possibility of continuous pull-up.
Judging from the hourly and 30-minute trends, the upper pressure is also dense, and continuous rise will not appear for the time being, but considering that there is a rebound structure at the internal level, you can try to seize the opportunity to enter the market and lay out long positions during the callback. If the recent market operation is not ideal, consult btc0796 and find me to discuss the layout of the medium and long-term market.
Bitcoin retracement: 53800-54300 long, target 55500-56500, break to see 58000, defense 53300
Ether retracement: 2250-2280 long, target 2380-2480, break to see 2580, defense 2230
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