Yesterday's market analysis from the chief can be described as capturing both long and short positions, and then going long again. First, the morning saw a long position from 103800 to take profit at 105800; I planned to short at 106000 for another wave down, but it was unfortunate that it missed by about 100. In the latter half of the night, Bitcoin began to pull back, rebounding from around 101000, which was mentioned in yesterday's market analysis, by over 1000 points. I wonder how many of you followed that wave.
Let’s look at today’s market; the market started to pull back last night, and many people began to panic again. First, we look at the moving averages; MA50 has not flattened yet, so we are not at the point of seeing a bearish trend. Moreover, this week, a golden cross between MA50 and MA120 will occur, and the overall direction still looks bullish.
In terms of MFI and CCI, the MFI has not broken below 50, and the CCI trend has only slightly returned to around 100 for consolidation. Therefore, on the daily chart, a significant bearish market does not exist. Additionally, the CCI on the weekly chart is also around 100; this indicates that a new round of the bull market is starting here, and being bearish here is going against the trend.
In the short-term intraday trend of Bitcoin, support is at 100300 and 99000. The short-term pressure is around 103800. There is still an opportunity to try going long at the lower support levels!
In the short-term intraday trend of SOL, support is at 163 and 160. The short-term pressure is at 174, and these two long positions have been mentioned repeatedly in the past few days. It is still possible to try going long.
In summary, the current market has not completely turned bearish, and exiting here is unwise. Even if there is distribution here, it won’t be completed in just a few days; the weekly trend indicates that a new round of the bull market is beginning. This week or next week will be the milestone for the start of the new bull market!$BTC $ETH $SOL #CPI数据来袭 #加密圆桌会议要点 #Strategy增持比特币
