Friday Afternoon Jingyi's Trading Strategy Analysis
After a period of consolidation, the market strongly broke out in the morning, with Bitcoin leading the charge, reaching a peak of 117,500, a rise of 7,000 points intraday, setting a new historical high, and climbing to 118,395 after the lunch break.
The four-hour chart shows that the price has begun to decline. During the day, we are looking at consolidation while waiting for an opportunity to approach the highs. From a technical perspective, the current price is deviating from the upper Bollinger Band, RSI is overbought, and MACD histogram is showing a top divergence, indicating an accumulation of pullback risks. A one-sided surge is difficult to sustain, and after breaking key resistance, there may be profit-taking leading to a technical adjustment. The trading strategy can maintain a high sell and low buy approach, as there has been considerable volatility in the recent market, so caution is advised.
Trading Suggestions
BTC: Short near 120,000, target 170,000-180,000
ETH: Short near 3,050, target near 2,800
The strategies are for reference only, trading must be cautious, wishing all fans smooth sailing.
