Is Bitcoin's rebound continuing to short on Tuesday night?
Yesterday's market repeatedly emphasized that the main focus should be on shorting for a downward adjustment, and in the evening, I also provided everyone with a shorting strategy at 93000, aiming for below 89500. The market's movements were quite in line with expectations, precisely reaching our target position, and we easily secured over 3000 points profit!
As for the current market situation, the large bearish adjustment last night brought the price back to its starting point. The intraday opening was blocked around the MA7 moving average, continuing to test the lower track. The Bollinger Bands are opening downwards, with short-term moving averages bending downwards. The MACD fast and slow lines are once again running downwards, and the volume bars are increasing. The KDJ is blocked and bending downwards, while the VR index is consolidating around the 50 value. On the 4-hour chart, the market has been declining continuously, breaking through the support of the moving average and mid-track, testing the lower track. The Bollinger Bands are slightly opening, with short-term moving averages bending upwards above. The MACD fast and slow lines are crossing downwards above the 0 axis, with the volume bars turning green and increasing. The KDJ is extending downwards, noting the support near the 0 value, and the VR index is consolidating around the 100 value. Overall, this wave of market influenced by news has defeated the technical players. Yesterday, I also reminded to treat such a market with caution, but the magnitude of the decline exceeded expectations. The short-term support to focus on is around the 4-hour lower track, while the key upper area is also around the top of the previous K, which is near the 30-day moving average.
For specific operations, you can refer to the area near 84500-85000 before the US market opens to short lightly once, reserving space for one additional buy-in. The target is still looking below 81500, and for the wave, it can be seen below 78000!
