Market Review:
Yesterday, the market rebounded slightly to around 30,000 in the morning, but failed to move upward steadily. Instead, it fluctuated downwards under pressure, with the lowest falling to around 29,000. The short-selling strategy near 30,000 provided previously has been verified. Yesterday's market was highly volatile due to the news, and both the long and short sides fluctuated by more than a thousand points. Congratulations to those who followed the operation and made profits. At present, the currency price has stabilized near 29100 and is in the process of shock recovery.
Market analysis:
Judging from the four-hour chart of the technical structure, the Bollinger Bands are operating in an open state. The market has closed a long lower shadow line after a continuous downward trend. It is currently stepping back slightly and turning into a broken Yang form for adjustment, but the overall rebound The intensity is not strong. The MACD indicator shows that the two lines cross downward, and the short momentum gradually weakens, but the rebound trend is not yet obvious. The three lines of the KDJ indicator cross and run downward. Looking at the daily line, after retracing in the early morning and establishing a bottom, the market has reached the support level and is expected to continue to rebound based on the support. Bulls are currently in a consolidation range and are slowly accumulating energy.
From the four-hour line, the market has stabilized above 29,000, and two consecutive positive candlestick patterns have appeared. Relying on the support below and the strength shown by yesterday's retracement, the market may once again test the short-term high. In the short term, after completing a wave of retracement and downward movement, the bulls are slowly rebounding. In the short term, the market may usher in a wave of pull-ups. It is recommended to operate with a low-to-long mentality in intraday operations.
Operation suggestions:
BTC: Bulls wait and see near 29,100, with the target at around 29,800; if it falls below around 30,000, consider shorting, with the target at around 29,000.
ETH: Bulls are on the sidelines around 1830, with the target around 1880.
