Crypto Circle Academician: A short-term rebound of Bitcoin at 6.1 does not equal a reversal! Are you trapped in long positions? Don’t worry, the opportunity to break free is coming! Latest market analysis
Current Bitcoin price is 104700, it is now 1 AM Beijing time. From today, I won't discuss the strategy of shorting above 110000 anymore. The market has dropped to a low of 103000, and most crypto friends have already taken profits, only a few have some remaining positions not fully exited. You can review the content published on the 27th until today to see how I chose my entry and exit points, marking a perfect end for May. As for today’s strategy, it is for friends who haven't boarded yet, where to enter, how to defend, and how to set risks.
Before publication, the daily candlestick had a high of 104850 and a low of 103050. The daily candlestick is as expected, probing the EMA30 support at 103300 before starting to rebound. The EMA15 trend resistance level is 106000, which needs to be closely monitored. The MACD's continuous shrinking volume maintains a bearish trend, and the DIF and DEA have crossed downward at a high level, continuing to spread downwards. The mid-band resistance of the Bollinger Bands is 106200, and the lower band support at 101200 can determine whether to go long or short effectively.
In the four-hour candlestick, we can see that the EMA trend indicator maintains a strong bearish trend, with the double lines crossing downward and spreading in trading, and a contracting market is emerging. A pullback presents an opportunity to head south, focusing on the first trend crossover point at 105350 and the second crossover point at 106200. The MACD shows reduced volume, and there is strong resistance for short-term bulls, so going long is not recommended. The DIF and DEA are contracting, and the candlestick has pulled back from the lower band to around the mid-band at 105800. Overall, the bearish sentiment is stronger than bullish, and it is recommended to focus on shorting at high levels without considering going long for now, waiting to assess after a deep bottoming.
Short-term reference: The market is not 100%, so always set a good stop-loss; safety first. Small losses with big profits are the goal.
Northward trial entry point 101500 to 101000 long, defending at 100500, stop-loss at 500 points, target looking at 102500 to 103500, breaking point at 104500,
Southward reference point 105500 to 105000 short, defending at 106000, stop-loss at 500 points, target looking at 104000 to 103000, breaking point at 102000,
Specific operations should be based on real-time market data. For more information, you can consult the author. The article may have a delay in release; it is recommended for reference only, risk is self-borne. $BTC