The Bitcoin Short Army is 'At the Gates'! How Can Retail Investors Save Themselves? Latest Market Analysis and Reference Suggestions
The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your operation is reasonable and whether your principal is safe. You need to develop a trading approach that belongs to you and continuously optimize and improve it. My suggestions may not make you rich overnight, but they can help you stay in the game. Only those who survive in the cryptocurrency world for the long term and persist until the end can achieve the results they desire. I hope you can understand this.
The current price of Bitcoin is 104,700. It is now 2:30 AM Beijing time. The strategy given in yesterday's article was a downward target of 104,000 from 105,000. The space is not large, only 1,000 points. The upward target of 103,500 was not reached, so we can only wait for a pullback above 105,000 before attempting to go south again. It is recommended to set the defense point above 105,500 and the stop-loss above 105,800. For those trading trend orders, the market in the past few days is suitable for resting. For those trading swings, it is comfortable to take profits back and forth. While making comfortable profits, remember to defend well and set proper stop-losses.
Currently, the daily candlestick has a high of 105,250 and a low of 103,930. The EMA trend for the long term remains unchanged, while the short-term cycle shows a contraction. The candlestick has fallen below the EMA30 trend line of 105,200 and has been facing upward resistance since then. The support of the golden ratio line at 0.786 is 103,900. The continuous contraction of MACD has led the DIF and DEA to approach the 0 axis line. The Bollinger Bands continue to consolidate horizontally, and the candlestick has been on a downward channel since hitting the middle track of 105,800. The lower track focuses on 101,900. If the candlestick loses the 0.786 line, it is highly likely to reach the lower track.
The four-hour candlestick has entered a downward channel, and the EMA trend indicator is also alternating downwards. The short-term bearish momentum has entered a descending channel, and as long as the pullback does not break the pressure line of 105,800, the bearish momentum will continue. The continuous contraction of MACD has caused the DIF and DEA to spread below the 0 axis line, forming a bottom divergence trend. Combined with the resistance of the Bollinger Bands middle track at 105,400, it is clear where the pressure zone is on the short-term. The short-term support focuses on 103,000. Overall, shorting at high positions has a slight advantage.
Short-term Reference: The market is never 100% certain, so always set stop-losses. Safety is the first priority; small losses with big gains is the goal.
