Saturday Afternoon Thoughts, Latest Bitcoin Market Analysis
Looking back at our long position strategy provided at midnight yesterday, the actual market momentum failed to break the new high of 98,000 but instead touched the vicinity of 97,700 before declining to a low around 96,200. We repeatedly emphasized in yesterday's midnight strategy that although the long positions were strong, they couldn't keep rising indefinitely; thus, it's advisable to test short positions for pullbacks. Those who followed this strategy should have seen some gains, and the current market is oscillating around the 96,400 level. We will continue to maintain a low position for grabbing opportunities this afternoon, and in the short term, we can still look for a pullback. In the short-term silk road, we can maintain high selling and low buying within the range, which needs to contract or move downward, synchronously with the auntie.
On the four-hour chart, the competition between long and short positions was quite intense during yesterday's daytime. The evening release of non-farm payroll data and the rise of poor stocks led to a market rally. After multiple unsuccessful attempts to reach higher levels, a pullback occurred, which still belongs to a normal adjustment and repair of price comparison. The technical indicators show slight divergence, with KDJ lines diverging downward. There is still space below during the day, and the trend of oscillation remains strong. We need to be cautious of a reversal in technical indicators after they turn downward, and we should pay attention to the 95,000 level below.
Operational Suggestions:
Buy directly near 96,000 for Bitcoin, targeting 97,500.
Defend at 95,500.
