Crypto Circle Academician: The head and shoulders bottom signal for Bitcoin is emerging at 12.12, can it break through the strong pressure zone of 101500?
The current price of Bitcoin is 100500, it is currently three o'clock in the morning Beijing time, let's first review yesterday's announcement of the 97800 short position, finally cashing out at 96500. Originally, I wanted to see if it would break the previous low further and hit the 90000 mark, but after the main force rebounded to 94000, it did not move down again, started to pull back up, and appeared a morning star bullish indicator. The head and shoulders bottom trend is uncertain whether it is really forming, so I entered a short position at 98000, with a stop loss at 98500, and eventually exited with a small loss. After hedging two orders, I only took a 700-point space, better than nothing, I guess. I got into the car at the descending trend line of 97800, currently holding.
The larger trend has not ended, but the bearish trend is too strong to determine whether it is a true vacuum or a false empty, so when reaching a clearly pressured position, it is still necessary to enter the market. It is obvious that our short stop loss at 98000 was triggered, it’s okay to be wrong. I often say a sentence, the essence of trading is to use the system we have verified to wait for entry signals in the market, operate when it meets the criteria, set stop losses according to the system requirements after entering, and if there is a loss, it should be minimal. Move the stop loss, if wrong, stop out; if right, hold on. Through repeated deliberate training, the probability and results will emerge.
The daily candlestick has bounced back upwards, before the release the highest reached 101100, the lowest at 95660, the bullish trend remains unchanged, MACD has reduced volume and increased positions, DIF and DEA are still at high levels, the Bollinger Bands are still in extreme contraction, the candlestick has bounced back and hit the upper track pressure level of 101675. The four-hour candlestick head and shoulders bottom market has broken the EMA trend indicator of 98300, once again standing at a high level, the EMA trend indicator has returned to the bullish trend, MACD has increased volume and positions, DIF and DEA have also formed a golden cross trend, the candlestick has come below the upper track of the Bollinger Bands at 101350, currently clarifying a very strong resistance, the main force has continuously formed a strong pressure zone at 101500, when shorting, be sure to set a good stop loss, temporarily do not chase long, wait for the pullback support before starting to layout long positions.
Short-term reference:
Short from above 101500 to 102000, stop loss at 102500, with a stop loss of 500 points, target looking at 101000 to 100000, if broken, look at 99000 to 98000.
Long from below 98000 to 97500, stop loss at 97000, with a stop loss of 500 points, target looking at 99000 to 100000, if broken, look at 101000 to 101500.
