Crypto Circle Scholar: Is the 6.7 Bitcoin four-hour V-shape rebound a true breakout or a false signal? Latest market analysis reference
The current price of Bitcoin is 104700. It is currently 1:30 AM Beijing time. After falling from around 106000 and taking profits near 101500, the main force started to rebound, and many bullish voices emerged in the market. After the drop, they said to look at 85000, and after the rise, they said to look at 200000. Unfortunately, I am not a hacker; otherwise, I would really want to trace back the source and see where it all came from, causing confusion,
The highest point before publication on the daily K-line is 105350, the lowest is 101095. As long as the high point of yesterday at 105910 is not broken, the market is not considered to have recovered. The trend still mainly chooses to head south. The head and shoulders pattern of the daily line level has already formed. At the conclusion, a rebound appeared. Currently, it is obstructed by the EMA15 trend fast line support at 105150. If the upper pressure is valid, it can test the southward position. The first support to pay attention to is the EMA30 support at 103700. The reason is simple; it is the weekend. The second support focuses on the 100000 threshold. The MACD is shrinking and unchanged, with DIF and DEA expanding downwards approaching the 0 axis. The K-line has stood at the Bollinger band lower track support around 101900 for two consecutive days, and is currently obstructed by the mid-track at 106600,
The V-shape transition of the four-hour K-line has reached the pressure level near the EMA trend indicator top at 105200. If the pressure is valid, the MACD has continuously reduced volume and started to expand. DIF and DEA have formed a golden cross below the 0 axis, indicating that despite the strong bearish momentum, the bulls are attempting to attack. The K-line has already broken through the Bollinger band mid-track at 104500, and the next position is 107150. Can it reach? Don't forget that the bears currently dominate the market. It is advised to mainly short at high positions and to support low longs; do not chase after the rise.
Short-term reference: The market is not 100% certain, so always set a stop-loss; safety first. The goal is to minimize losses while maximizing gains.
For a northern test position, go long from 102000 to 101000, with a defense at 100000, stop-loss at 500 points, and target at 103000 to 104000, breaking the position to look at 105000.
For a southern reference point, go short from 105000 to 106000, with a defense at 107000, stop-loss at 500 points, and target at 104000 to 103000, breaking the position to look at 102000.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be a delay in article publication; it is recommended for reference only, with risks borne by the reader.