According to the current market situation, the four-hour level shows that the market has clearly stopped after two consecutive bearish candles broke below the lower Bollinger Band, and the bearish momentum has somewhat weakened. The bearish candlestick has a long lower shadow, indicating some support below, and the lower level has not formed a solid breakout. From the one-hour level, the market presents a strong downward trend of two bearish candles followed by one bullish candle, but the price has not broken through the lower Bollinger Band. The KDJ indicator's J value has entered the oversold zone, and all three lines are showing upward movements. Therefore, in the early morning operations, we are looking for a bullish rebound.
On Friday evening, the Bitcoin market experienced a strong downward movement, with the price dropping from a high of 106486 to a low of 103805 before stopping. Similarly, Ethereum's market fell from a high of 2569 to a low of 2488. During the day, the strategy of holding both long and short positions in Bitcoin and a short position in Ethereum was successfully executed. In the afternoon, as the market broke through the range, a long position in Bitcoin was established near 105333, and exited near 106423, gaining 1000 points of space. In the evening, a bearish strategy was provided in advance, and the market moved as expected. The short positions in Bitcoin and Ethereum were established near 106073 and 2557, respectively, and exited near 103915 and 2492, with the Bitcoin short position earning 2100 points and the Ethereum short position earning 65 points. Overall, the day’s Bitcoin long and short positions earned a total of 3100 points, while the Ethereum short position earned 65 points.
Based on the current market situation, the four-hour level shows that after rebounding to the upper Bollinger Band, the market faced pressure, with bears causing significant downward movement. The price is currently operating below the middle Bollinger Band. The KDJ indicator has formed a dead cross, but has not continued to diverge downward. The overall market structure has once again entered a weak state. From the one-hour level, the market shows a strong downward movement with two consecutive bearish candles, and the price is approaching the lower Bollinger Band. The MACD indicator's fast and slow lines have formed a dead cross above the zero axis, and the indicator values have entered the negative range. However, the KDJ indicator's J value has entered the overbought zone, indicating the possibility of a technical pullback in the future. Therefore, our strategy for midnight operations is to take short positions after a rebound.
According to the current market situation, the one-hour level shows that after experiencing four consecutive bullish candles breaking above the upper Bollinger Band, the bears have begun to exert pressure, and the price has subsequently returned below the upper Bollinger Band. The KDJ indicator's three lines at this level have started to turn downward and are gradually converging, with a high probability of forming a death cross pattern. The RSI indicator's three lines are also moving downward simultaneously, so in the evening trading, we will continue to maintain the strategy of shorting after a rebound.
Bitcoin can be shorted around 106300, with a target of 103500.
Ethereum can be shorted around 2560, with a target of 2450#BTC☀ .
On Friday afternoon, the Bitcoin market welcomed a wave of strong upward movement, with prices climbing to the high point of 106486 before halting. The Ethereum market synchronized with Bitcoin, with prices rising from a low point of 2503 around noon to a high point of 2569. In the afternoon, Brother Sheng positioned himself for a long Bitcoin trade as the market broke through its range, entering near 105333 and exiting near 106423, securing a 1000-point gain.
Based on the current market conditions, the one-hour level shows that after experiencing four consecutive bullish candles breaking above the upper Bollinger band, the bears began to exert pressure, and the price returned below the upper Bollinger band. The KDJ indicator's three lines at this level have started to turn downwards, gradually converging, increasing the probability of forming a death cross pattern. The RSI indicator's three lines are also moving downwards simultaneously. Therefore, for the evening trading, we will continue to maintain the strategy of shorting after a rebound. You can short Bitcoin around 106300 with a target of 103500. You can short Ethereum around 2560 with a target of 2450.