In yesterday's BTC market: After profiting from the short position the previous night, the morning price again tested 118000. A bearish candlestick appeared above on the 15-minute chart, and the short-term indicators turned bearish, so we decisively placed a short position near 117800.
Subsequently, BTC dropped to around 115800, successfully taking profits of 2000 points from this short position; if the short position continues to hold, the evening price dropped to a low of 114600, allowing for a harvest of 3200 points profit. Meanwhile, yesterday's intraday analysis pointed out a trend support around 115000 below BTC, after entering long positions near that level, the price rose to around 117000 in the morning, once again achieving a profit of 2000 points. Overall, yesterday's market first fell and then rose, with both long and short operations capturing a total profit of 5200 points.
Today's BTC market situation: Yesterday morning, the price was under pressure near 118000 and fell back. After reaching a low of 114600 in the afternoon, it began to rebound, with today's morning price peaking at 117000, and it has currently fallen below 115800. From a trend perspective, intraday operations should focus on the trend resistance near 118500 above, suggesting to short when the price rebounds to the range of 118300-118500 and does not break through; if it breaks, then look towards the round number of 120000; on the downside, attention should be paid to the trend support around 114800, suggesting to go long when the price retraces to the range of 114000-114300 and does not break through; if it breaks, then consider going long around 112000.
Technical analysis: The 12-hour Bollinger Bands are opening, with the price rebounding near the lower band after a double-bottom pattern, forming a bullish candlestick. Currently, it shows a continued upward trend, but first, attention should be paid to the resistance formed by the crossing of MA10 and MA30 around 117500. If it breaks, then look towards the middle band of 118000 to consider entering short; the main trend operation is still focused on shorting at high rebound levels. The 4-hour Bollinger Bands are narrowing, with a bearish candlestick appearing in the morning, and the price is under pressure near the middle band, currently down by 1500 points. There may be a false breakdown situation in the short-term market, so it is recommended to wait for a rebound to high levels before shorting, with expectations for some rebound repair space. Additionally, on the 4-hour chart, Bitcoin has formed a 'descending staircase pattern', showing a characteristic of down three and up two. Although trading is thin as the weekend approaches, the bears still hold the advantage. In summary, BTC has some upward space in the short term, but the overall trend remains bearish, with the operation focused on shorting at high rebound levels.
Today's BTC trading strategy:
1. Short in the range of 118300-118500, targeting 117000-115500, with a stop loss set at 119000.
2. Long in the range of 114000-114300, targeting 115500-116800, with a stop loss set at 113500.
I am Old Jiu from the crypto circle, follow @加密玖 , providing both fish and teaching how to fish—taking you to make a double profit with small funds during the bull market, becoming the sharpest knife in the market!
