The Federal Reserve remains on hold, and overnight short positions yield some gains; the rebound continues to be ambushed! 5.3 Bitcoin trading strategy
The release of non-farm data surprised everyone. It is well known that the small non-farm is a precursor to the big non-farm data, but who would have thought it would be contrary! After the release of this non-farm data, the entire network advised to take small profits on short positions, and the price of the currency rebounded as expected, breaking through to a new high. Overnight, a short position strategy was provided again, and there is already a space of over a thousand points; Ethereum also has a thirty-point space. Those who followed can move their stop losses to protect profits!
From a technical perspective, the daily line once again closed in the green, with two consecutive bullish candles both showing upper wicks. This morning, a hammer bullish candle was formed, and the Bollinger Bands' three lines are pointing upward. The currency price is running below the upper band, but the KDJ has started to diverge downwards with a dead cross at a high level, showing a clear divergence. The MACD double line is running at a high level, but the volume is shrinking. Everyone should be cautious when chasing prices, as indicator divergence is likely to lead to a pullback!
The spot ETF market continues to see inflows, and although the non-farm data release led to a rebound of nearly a thousand points, it is clearly feeling weak. Coupled with the strong non-farm data, expectations for an interest rate cut from the Federal Reserve will decrease. Therefore, for intraday operations, Conan suggests mainly ambushing short positions at high levels! Watch for resistance levels at 97500, 98000, 99500, and 100000, and support levels at the contest point of 95500, 93900, 92700, 91600, and 90000.
5.3 Bitcoin trading strategy: Aggressive traders can enter short positions at 97500-97800, while conservative traders can enter at 98000-98500, with a stop loss above 99000. Target around 96000-95500, and if broken, look at 95000-94000-93500-92700. Continue to hold if it breaks further based on the situation!
5.3 Ethereum trading strategy: Aggressive traders can enter short positions during the rebound at 1850-1870, while conservative traders can enter at 1880-1900, with a stop loss above 1930. Target around 1800-1780-1750, and if broken, look at 1730-1700, and continue to hold if it breaks further based on the situation!
Long position strategy: With strong non-farm data causing US stocks to rise and then fall back, funds are unlikely to withdraw significantly, leading to a limited decline in currency prices. Therefore, Bitcoin can be bought during the first intraday pullback at 93500-94000, with a stop loss near 92700 and targets around 94500-95000-95500. Hold if broken based on the situation; Ethereum can be bought during the pullback at 1750-1780, with a stop loss near 1720 and targets around 1820-1850. Hold if broken based on the situation!
In the absence of clear favorable policies, with the currency price rising over twenty thousand points, there is a risk of funds withdrawing in the future. Everyone should avoid chasing prices at high levels to prevent being harvested by manipulators!