March 6th Operation Suggestion:
Yesterday, the market continued the rebound trend after testing 81700 from the previous trading day, showing a strong upward trend in the four-hour chart. The price fluctuation range narrowed during the day, operating within a 5000-point range, rising from 86000 to 91000. The daily line finally closed with a bullish candlestick with a slightly longer lower shadow than the upper shadow.
From a theoretical perspective, the price fluctuation range is 5000 points. In actual market conditions, prices remained above 87400 during the European and American trading session and did not drop below. From the attached chart, it is clear that there is significant support around 87200. Throughout the European and American trading session, the market mainly exhibited a range-bound trend, with prices oscillating between 87000 and 90200 for the entire night.
From the daily perspective, the previous candlestick for Bitcoin continued to close bullish, opening with a push to test the middle band and recovering the decline on the 3rd. The Bollinger Bands are narrowing, short-term moving averages are turning to support, the MACD fast and slow lines have crossed upwards, the red bars are expanding, and the KDJ is moving upwards. Pay attention to the resistance between 80 - 100, and the VR indicator is consolidating around the 70 mark. Bitcoin's daily line closed bullish around 90500, with the Bollinger Bands narrowing downwards, the MACD moving averages gently rising, bullish momentum appearing, and the KDJ line moving upwards.
On the four-hour level, the market rose slowly after breaking through the middle band and the 60-day moving average, testing the EMA200 resistance. The Bollinger Bands are flattening, and the short-term moving averages are forming support near the middle band. The MACD fast and slow lines broke through the 0 axis, the red bars are expanding, and the KDJ is turning downwards near the 100 mark, with the VR indicator consolidating around the 100 mark. The four-hour Bollinger Bands are narrowing upwards, and the market rebounded from the bottom to the upper band of the Bollinger Bands, with the MACD moving averages rising.
The overall candlestick presents a W shape, indicating a warming up of bullish sentiment, but there is considerable resistance above. First, pay attention to the previous high neckline, and secondly, the daily 60 moving average. Tomorrow there will be non-farm payrolls and a crypto summit, influenced by significant news, so avoid chasing highs and lows in the short term and be cautious of risks.
Bitcoin will oscillate broadly between 86000 and 92000, and we should observe the results of the summit in the near term. For the second coin, observe the range between 2120-2300, avoiding building positions at the continuation level.
#白宫首届加密货币峰会 #MtGox钱包动态 #美国2月ADP就业人数 #美国加密战略储备 #加密市场反弹 $BTC $ETH
