Can the market rebound on Wednesday continue?
Last night I shorted and anticipated a downtrend, and the market dropped to the 81200 area. I have been consistently advising everyone to be bearish and short, and the short positions have perfectly reached our expected target, achieving a precise profit of 3800 points on Bitcoin. I believe those who followed along have gained significantly!
Regarding the current market, yesterday's daily candlestick formed a lower shadow bullish line and has re-established itself above the MA200 moving average. The Bollinger Bands remain open and effectively hold above the lower band, while the MACD fast and slow lines have turned upwards again with volume decreasing, and the KDJ is opening upwards, with the VR indicator consolidating around the 60 value. Looking at the 4-hour chart, after a significant bullish surge in the afternoon, it broke above the middle band, forming a series of bullish candles above the 30-day moving average. This indicates that the current market sentiment is still relatively strong, but since the market has broken the 90,000 level, we should not blindly go long. We can consider lightly shorting in the 90000-90600 area first and then look for levels around 87000-85500!
