5.8 Morning Thoughts
Recently impacted by news factors, the overall market pattern has broken the oscillating trend, with prices frequently fluctuating significantly between upward and downward spaces. However, from the perspective of hourly technical structure, every time the price retraces and touches the lower channel line, it receives effective support, subsequently initiating a rebound trend.
In terms of trading strategy, we still maintain the mindset of 'shorting on rebounds'. The key lies in accurately grasping the high and low points of the range; blindly entering the market can easily lead to chasing highs or bottom fishing dilemmas. Although the current market volatility range has narrowed, there is significant resistance to downward price breaks in the short-term trend. Despite multiple attempts to test downward previously, the rebound momentum has been strong, with each dip quickly recovering ground and rising rapidly. Therefore, the trading suggestion for the morning session is to focus on price correction opportunities and continue to operate based on the previous rhythm.
Bitcoin trading strategy: Short near 97400-98200 on rebounds, targeting lower around 95000.
Recently impacted by news factors, the overall market pattern has broken the oscillating trend, with prices frequently fluctuating significantly between upward and downward spaces. However, from the perspective of hourly technical structure, every time the price retraces and touches the lower channel line, it receives effective support, subsequently initiating a rebound trend.
In terms of trading strategy, we still maintain the mindset of 'shorting on rebounds'. The key lies in accurately grasping the high and low points of the range; blindly entering the market can easily lead to chasing highs or bottom fishing dilemmas. Although the current market volatility range has narrowed, there is significant resistance to downward price breaks in the short-term trend. Despite multiple attempts to test downward previously, the rebound momentum has been strong, with each dip quickly recovering ground and rising rapidly. Therefore, the trading suggestion for the morning session is to focus on price correction opportunities and continue to operate based on the previous rhythm.
Bitcoin trading strategy: Short near 97400-98200 on rebounds, targeting lower around 95000.
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