Friday, bottoming out or moving within a range!

Yesterday, we continuously referred to the 84000 line for a short position at highs, and after the price rebounded to the 83700 line, it retraced as expected, with the low reaching the 81100 line. It then stopped and rebounded again, maintaining the range pattern!

In recent days, the price has been extremely sensitive to market news and sentiment, with any slight movements causing significant price fluctuations. After a drop in the evening touched the support level, buying interest resumed, and the price began to rebound. On the daily chart, Bitcoin is still in a wide range of 81000-88700, and with the morning candlestick closing bullish, the bearish volume has decreased. The volatility is limited as both sides pull back and forth, with a focus on the non-farm payroll data in the evening. If the price cannot use the data to break out, the market will continue to maintain a range-bound trend as the weekend approaches. In the short term, the MACD daily level's DIF and DEA lines have begun to converge below the zero axis, the MACD histogram has turned positive from negative, and the RSI 14-day line is fluctuating around 50, not entering the overbought or oversold areas, indicating that the market is in a relatively balanced state. The EMA7, EMA30, and EMA120 daily levels show that the price is fluctuating between EMA7 and EMA30, while EMA120 remains at a higher position. The overall trend still leans bearish, but there is a certain demand for a rebound in the short term, which is expected to be limited. Therefore, in short-term operations, we still focus on short positions during the rebound, and if it touches the support without breaking, we can take short positions to capture the rebound.

On Friday afternoon, the rebound in Bitcoin in the 83500-84000 area still suggests a short position first, and if it rebounds to 85000 without breaking, we can add to our short position. Below, continue to focus on the 81000 support level; if it holds, we can take short positions to capture the rebound. Ethereum continues to refer to short positions near 1850, with support still focusing on around 1750. In the short term, we can switch back and forth in this range, and if it breaks out, we will follow the trend!