April 15: Multiple Attempts to Break Through the Daily 50-Day Moving Average: Can it Break and Hold Above the 50-MA?
In yesterday's article, I shared the southern movement strategy, which did not reach the target and even hit a stop loss on a short trade. However, overall it was still good. Yesterday's live session suggested entering south at 85400, and the lowest point reached 83600, making this short position yield about 2000 points. So overall, yesterday was still good.
Bitcoin has been in a narrow range of fluctuations recently, with resistance above and support below. Breaking out will require time. From the hourly perspective, the price movement has reached the end of the triangular range, and the market is about to choose a direction. On the daily level, it closed with a bullish candle, paying attention to the pressure from the 50-200 day moving averages. On the four-hour level, pay attention to the 83000 line below. As long as there is no significant break below this level, I believe a pullback here could be a good opportunity to position for a northern movement. From the four-hour chart, the attached indicators show insufficient bullish momentum, indicating a potential top divergence pattern. In terms of K-line, one should pay attention to whether an M-top pattern will form later. For intraday trading, high sell and low buy until this situation is broken. Personally, I lean towards the south, and I have held the south position at 85400 for 3 days now.
Entry Strategy
Southern Movement Strategy at 85200: Risk Control 720 points: Target 1000-1500 points
Second Southern Movement Strategy at 86200: Risk Control 640 points: Target 2000-3000 points
Northern Movement at 83600: Risk Control 420 points: Target 1000 points
Risk control targets can be managed based on your own positions.
Market conditions can change at any time, so be prepared for any unexpected occurrences. Combine the ideas from Old Wang with your own thoughts to summarize your own trading system, and you will outperform most people. Learning not to be affected by the price fluctuations is essential for everyone. May you all find your own light in this chaotic market. $BTC $ETH
