Crypto Circle Scholar: The Reversal Under the Heavy Short Pressure of Bitcoin on 12.31! How much of the 92000 opportunity did you seize yesterday?
The current price of Bitcoin is 94350. Yesterday, I mentioned that crypto friends should enter the market after the 92000 level was broken, and before this publication, the gains from this entry have already exceeded 2500 points. Many crypto friends are hesitating whether to enter, as the short pressure is too strong, but they overlook the essence of trading, which is completely driven by emotions that prevent them from trading. What if it was based on rules? By executing according to a trading system, one would not be disturbed by external factors; it is sufficient to plan your trades before the market opens and execute your plan during the trading hours. Otherwise, you will often miss such good entry points.
Looking at the order book now, it is 5 AM Beijing time, and on the last day of the year, the daily K-line is probing the EMA60 support at 91530. This is the best entry point for going long; if you missed it, you can choose to attempt going short above 95000. This is the first entry point for going short, and the second entry point to watch is the intersection of EMA30 and EMA15 at 96500. The MACD is decreasing in volume while accumulating positions, with the DIF still below the 0 line, and the DEA is also trending downward, possibly falling below the 0 line at any moment. Now we just need to see if the main force will pull back and break 95000, and at this level, the Bollinger Band lower support at 91200 is valid, while the middle band at 99000 is too far and not currently considered.
The four-hour K-line has returned to the golden ratio 0.786 balance point at 94300. It will take time to observe whether the market can form a head and shoulders bottom. The horizontal range has been determined for now, and the MACD is starting to increase in volume. The DIF and DEA have formed a golden cross, indicating a potential bullish move. Therefore, for those considering going short above 95000, remember to set stop losses; safety first. The Bollinger Band still indicates a downward trend, with the upper resistance level to watch at 95800. The strategy should consider going short after another upward movement. For those who went long, it’s time to take profits.
Short-term strategy reference:
Long entry point from 92000 to 91000, with a stop loss at 90500, risking 500 points, targeting 93000 to 94000, and if broken, looking at 94500 to 95000.
Short entry point from 95000 to 95500, with a stop loss at 96000, risking 500 points, targeting 94000 to 93500, and if broken, looking at 93000 to 92000.
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