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4.7 Morning Bitcoin Analysis

The big drop occurred as expected in the early morning, with a volatility of 5000 points. The short position entered around 83500 was also closed for profit near 81000, and I did not hold for too long; after all, the occurrence of previous profit-taking has happened too many times. We should only take what we can during each fluctuation, and adhere to the philosophy of not being greedy and not over-leveraging, which can lead to consistent victories in trading and dominating the exchanges!

From the current market perspective, the big drop continues with consecutive bearish candles, with bears occupying a dominant position, moving relatively in line with our expectations. We did not anticipate that bears could push down more than 5000 points this time; we only took nearly 2000 points. Furthermore, from the hourly chart, the BOLL indicator shows that the price has significantly fallen below the middle band and is close to the lower band, indicating a weak range and bearish dominance. The three lines of the KDJ indicator are diverging downwards in the oversold zone, with strong selling pressure. The MACD indicator's fast and slow lines are below the zero axis and expanding, with green bars lengthening, indicating enhanced bearish momentum. In the morning, we will first look for a rebound before attempting to short.

Trading suggestion:

Short in the 79000-80000 range, with a target looking down to 75000.