All trading principles must be adhered to and cannot be violated, such as position management and stop-loss in risk control. The remaining issues are about methods and approaches, which vary from person to person. There are no two identical leaves in the world, and similarly, there are no two individuals with completely identical trading methods. Different personalities, interests, and qualities will lead to diversity in methods.
Hello everyone, I am Trader Lao Na. Continuing from the last article, there was a few days pause because the market has been fluctuating in the range mentioned previously. Bitcoin has repeatedly given the support rebound discussed earlier. Today's surge has broken the range maintained for 9 days. The long position at 83500 should have yielded good results.
Today is Monday, as usual, let's first discuss the weekly chart. The weekly level has consistently stayed above MA7 and is currently testing MA30. This line also serves as resistance from the previous highs of 88000-89000, so this week we should focus on the breakthrough of this boundary. If it breaks through, it will likely test the midline nearby. Conversely, we need to pay attention to the support level near MA7. This is the key point to watch this week; the overall trend structure remains in line with previous views, and we should patiently await adjustments to embrace a significant move. The daily K-line has risen above MA60, marking the first time above it since breaking below in February, so we need to focus on whether it can stabilize above this level in the short term. The 4-hour level continues to rise and is testing previous highs; as long as it completes the breakthrough and stabilizes, it is very likely to reach the 90,000s tonight or tomorrow. Although the momentum is strong, I personally do not prefer to chase, so as long as it retraces without breaking below 86000, one can consider entering positions above this level. Recently, the market has often retraced after strong increases, so we should remain cautious, preferring to miss opportunities rather than making mistakes. The performance of the altcoin is still weaker than Bitcoin, with insufficient rebound strength, which is also a norm in this bull market, so let's lower our expectations for counter-momentum a little. The overall trend will certainly follow Bitcoin; on the weekly level, we should watch the area around MA7 to see if it can break through and stabilize. The daily level is currently testing the BOLL midline; if it can break through and stabilize, reaching MA30 should not be a big issue. The support below continues to focus on the area near MA7, which is also the lower edge of the previous small range. The previous highs in the 4-hour level are key points to watch in the short term; Bitcoin has already broken its previous high, but it has not tested yet, which indicates weakness but also presents a hope for a certain rebound.
Bitcoin short-term: Long positions at the 87000-86500 level.
Altcoin short-term: Long positions at the 1600-1580 level.
PS: Please try to use the strategy activation only once.
The suggestions are for reference only; ensure proper risk control when entering the market, manage your profit and stop-loss space by yourself, and consult for specific strategies during the trading.
Alright, friends, we have to say goodbye until next time. I wish everyone to do better and have a bright future in the crypto world! More real-time advice will be sent internally. Today's brief update ends here. For more real-time advice regarding Bitcoin and altcoins, please find Gege.
Text by Trader Lao Na, a friend willing to help you rise again.
