3.6 Evening Market Analysis
Tip: Yesterday evening, we suggested shorting Bitcoin near 90,000 with a target of around 87,000. The market's lowest point came to about 87,600. Although we were just a step away from our target, our short position still achieved a perfect exit with a profit margin of 2,000 points!
Bitcoin Market Analysis:
From the daily chart of Bitcoin, it closed with another bullish candlestick yesterday. After the market opened, there was a significant rise testing the middle band area. The Bollinger Bands are starting to narrow, and the short-term moving averages have turned upwards to form support. The MACD fast and slow lines have crossed upwards, and the volume bars have turned red, while the KDJ extends upwards again, noting resistance near the 80-100 range. The VR indicator is consolidating around the 70 level. Looking at the 4-hour chart, after breaking through the middle band and the 60-day moving average, the price slowly rises to test the resistance around EMA200. The Bollinger Bands are flattening, and the short-term moving averages are operating around the middle band, forming a short-term support area below. The MACD fast and slow lines have crossed upwards, breaking through the zero axis with increasing volume, while the KDJ is encountering resistance near the 100 level and turning downwards. The VR indicator is consolidating around the 100 level.
Overall, the candlestick patterns are showing a W shape, indicating signs of a bullish recovery; however, the resistance above should not be underestimated. First, we need to pay attention to the previous high range, which is also the neckline, followed by the daily 60 moving average range. Tomorrow, there will be non-farm payrolls and a cryptocurrency summit. Given the impact of significant news, please remember not to chase highs and sell lows in the short term!
For specific operations, you can consider lightly shorting Bitcoin around 90,000-90,600, reserving space for a potential top-up, and we will look for opportunities below 87,800. Ethereum can be synchronized accordingly!
