I have reminded Gan Kong many times that the space of Da Bing Kong 2000 is precisely controlled. Have you got on board? $BTC $ETH #美联储利率决策即将公布 #币安用户数突破2亿
It has been a day of fluctuation! Currently, the rebound strength of Bitcoin's trend is limited. From the 4-hour chart, the price has retraced from the recent high of $94,971 and has not been able to break through the key resistance of $96,200, and it continues to consolidate within the channel. Personally, I predict that the market will still make a retracement, and the resistance above is continuously moving downward. The technical aspect shows a predominant 'short' tone. Going forward, we can adopt a short strategy!
For the evening operations on Bitcoin, I personally suggest shorting at the price rebound of $96,000-$96,500, with a target near $94,500! #美国加密战略储备 #加密市场反弹
1.8 BTC, ETH evening analysis: Change is imminent, hold the chips in your hands
Last night, the big cake slaughtered the bulls, and the current volume has not ended. The monthly line will continue to fall after a wave of pins, which is in line with the previous view of the monthly line diverging downward. From the current market, the probability of closing the negative line this month is relatively high, and the rebound high will not exceed the high point in December. Bulls should remain vigilant! There will be a big correction this week, follow the trend to open a short position
BTC from the 4-hour trend chart: the rebound at the beginning of the month touched the Fibonacci resistance line and then pulled back downward. After adjustment, a downward trend chart was formed. The current downward trend line forms a cross support with the market after the 20th. It rebounded upward three times before and after, indicating that this is the key support position and the lowest point of the trend chart. Once it falls below, it will fall sharply. 90,000 will definitely not be able to hold! Only by holding on will there be a chance for the rebound bulls to leave. As for technical indicators, all openings are strongly bearish downward, especially the attached indicator OBV has a large opening and diverges downward, so it is strong after the rebound!
BTC evening strategy: short at 96000-96500, target at 93800! Pin at 93300
ETH evening strategy: short at 3380-3395, target at around 3315! #加密市场回调 #市场调整策略
1.5 BTC, ETH Evening Analysis: Narrow Range Fluctuation, Be Patient!
At the end of last month, the market broke out of the range and immediately retreated, and has been fluctuating within a large range since then. Last time, I mentioned that after the monthly line for Bitcoin was completed, it would start to show a bearish divergence downwards. Although the bulls remain strong, once the direction of a large-scale trend is confirmed, it will not easily reverse, so be cautious! Before Trump took office, the market was still filled with a sense of a slow decline, and friends in trading should maintain good defense to prevent the market from further plunging to 90,000. The risk of a change in the market recently is not small.
BTC Narrow Channel Viewed on Hourly Chart: Bitcoin is now again near a high-pressure point, with the highest spike at 98,949. It also touched the upper pressure points on the 21st and 26th of last month before pulling back, indicating that strong resistance has formed here. Additionally, a doji was formed on the line over the weekend, and there has been no direct breakthrough to stabilize at this position, so shorting is relatively appropriate. The lower trend line and resistance line in the trend chart intersect, and as long as this intersection position does not break and stabilize, we will look for a rebound; otherwise, we will continue to look bearish. The spike will target 95,500. Currently, the market is being suppressed by the EMA indicator, and technical indicators are also turning downwards, strongly indicating a bearish outlook, so we can short on the rise.
BTC Evening Strategy: Short at 97,800-98,300, with a target around 96,090!
ETH Evening Strategy: Short at 3,625-3,640, with a target around 3,580! #比特币走势观察 #AIAgent热潮
12.31 BTC, ETH Evening Analysis: Last Day of 2024, Beware of Trend Reversal!
Bitcoin has been oscillating at the bottom of the range for several days; in the afternoon, the bulls began a crazy counterattack. Currently, it is not suitable to chase long positions directly, as the cost-performance ratio is not high. Wait for a pullback and try to find a low point to buy in. A clear trend line for a reversal has not yet formed, so beware of a trend change. After the monthly line for Bitcoin finishes, it is highly likely to form a top divergence structure. This wave of rise will not last long, so still focus on short positions.
First, let's look at the trend chart for BTC: The 4-hour chart shows a descending triangular wedge pattern. The lower trend line has been broken, and it is currently under pressure from the upper resistance line, forming a gap. This gap needs to be filled before falling again. Therefore, the upper pressure level is around 96950. As long as it does not break through and stabilize above, it will inevitably pull back. It would be more suitable to wait for a rebound to the upper resistance line to open short positions. Given the divergence on the monthly line, unless there is specific news that drives prices up, otherwise, it will continue to oscillate or decline without breaking through. Let's wait until the monthly line is completed!
BTC Evening Strategy: Short at 96900-97300, target around 94000!
ETH Evening Strategy: Short at 3475-3490, target around 3380!
12.26 BTC, ETH evening analysis: After the fall, a rebound will follow
Tonight's initial jobless claims data is bearish, and the market volatility is not too large. With the callback of Ethereum during the day, the lower trend line support 3390 was directly broken. You can see from my post that I followed it directly after it was broken. I also decisively went short in the afternoon. The current lowest support point is around 3275. If there is no breakthrough, it will rebound upward. Once it breaks through and stabilizes, it will take the M shape. Then the lowest point of the right half is 3140, and it may be inserted
ETH Let's look at the 4-hour trend chart: It was previously in the range of 3550-3230 and fluctuated widely. It moved downward after touching the upper resistance line many times. After the trend line broke through, combined with technical indicators, the lower support level of Fibonacci is around 3275. This wave of decline will first see whether it breaks through here. If it does not break through, it will rebound upward. It is also the most appropriate to buy the bottom and go long. There is a high probability that there will be no new lows before the end of the month. Special indicators can show that KDJ is about to be oversold, so if the lower breakthrough does not stand firm, go long directly
ETH evening strategy: 3260-3275 long, target around 3350!
12.25 BTC, ETH Intraday Analysis: U.S. Stock Market Closed, Bulls Begin Counterattack
Today is Christmas, and the U.S. stock market is closed for one day. After a significant drop, it has been adjusting for three days, and the bulls have officially sounded the counterattack horn. Bitcoin is expected to experience volatile consolidation, while Ethereum's movement is similar to Bitcoin's. Overall, both the daily and 4-hour charts have broken above the upward trend line and are beginning to form an upward triangular trend structure. As long as it stabilizes at the highest point of the trend line, one can look to buy on the pullback, and follow the breakout once the range is surpassed!
From the lower trend chart of ETH: It is forming a higher low structure upward, oscillating upwards within a triangular range, with a maximum rebound to 3555. The market immediately retraced after breaking the upper resistance of the trend line and has tested it three times; as long as it stabilizes, one can look to be bullish directly. The lower trend line has also been touched multiple times, rebounding upwards, indicating support at the trend line. The next lowest point on the retracement is around 3390, which coincides with the Fibonacci resistance. As long as this level is not broken, it is the most suitable entry point for buying; if it breaks, watch the lowest point of the trend line around 3250. Combined with technical indicators, all are turning upwards strongly bullish, so tonight is a good time to buy on dips.
ETH Evening Strategy: Buy at 3385-3405, target around 3540! If it breaks, look at about 3600.
BTC Evening Strategy: Buy at 95500-96000, target around 98000! #比特币市场波动观察 #加密市场盘整
12.17 BTC, ETH Evening Analysis: Market Rising with Low Volume, Downward Channel Gradually Opening
This week, Bitcoin has been in a state of rising with low volume, clearly starting to lose momentum, and tomorrow evening is the most critical interest rate meeting. There is a possibility of a deep adjustment before this; if you are going long, it is better to take profits to avoid being caught in a position! Only by waiting for the interest rate cut to take effect can Bitcoin continue its bull market mode. Pay close attention to the Bank of Japan's target interest rate on the 19th. The last time the Bank of Japan raised interest rates, Bitcoin dropped over ten thousand points within a week around March 19 and July 31. Therefore, special periods require special treatment; do not just blindly go long or short, but find the right key positions to lay out your strategy.
From the 4-hour chart of BTC: The trend chart shows a narrowing triangular upward channel. It has repeatedly encountered resistance at the upper trend line, and then it has retraced after touching it, forming a long upper shadow candle downwards. Therefore, the main strategy is to short unless it can stabilize above the trend line level of 107550 for the third time during the day, then it will continue the upward mode. The lower part of the trend chart also indicates that once it touches the support below the trend chart, it will rebound upwards and return to within the trend chart. Combined with technical indicators crossing downwards strongly bearish, especially the KDJ dead cross downwards, the bulls turn into bears. Therefore, tonight the main strategy is to short, and after tomorrow evening's interest rate cut takes effect, we will see if there is any change in the trend.
BTC Evening Strategy: Short at 107500-108000, target around 105000!
ETH Evening Strategy: Short at 3975-3990, target around 3880! #BTC再创新高 #比特币冲向11万?
12.10 BTC, ETH Evening Analysis: Bulls Remain Weak, Focus on Rebound Short Positions
Ethereum had two significant downward spikes at 5:00 AM, and this deep pullback has caused bulls to suffer greatly, as the channel trend indicates that Ethereum should rise. This round of shakeout is also aimed at accumulating chips for the main player. We warned on the 6th to be cautious as the market continues to behave unpredictably. Last night's market trend aligned with expectations, and the post also emphasized that Ethereum will continue to pull back. The strategy is to focus on shorting at high points, so as long as one follows the direction to open short positions, it is generally possible to capture the last wave of pullback space. Currently, the market has broken below the trend chart and is heading down, first pulling back and then rebounding above the trend line before dropping again. The larger trend remains bearish.
From the 4-hour chart of BTC: After two downward spikes at 100,000, a double top has formed, and it is currently experiencing wide fluctuations within the range. The highest point of the trend line within the channel is around 98,500, which is the best position to short, as after multiple breakouts, the downward spikes have not stabilized. As long as this position does not stabilize, there is still at least a 2,000-point downward pullback potential. However, if it breaks below the red circle position on the trend line, we will directly look at 91,760. Therefore, the trend chart clearly indicates where the key positions are and how to operate.
BTC Evening Strategy: Short at 98,500-99,000, target around 95,000!
12.6 BTC, ETH intraday analysis: Non-agricultural data is coming, beware of the market continuing to make trouble
Yesterday, it was clearly pointed out that MACD should pay attention to the closing line at 12:00 am. If it does not forcefully break through the monthly resistance, it will form a top back downward correction. The 4-hour chart clearly marks it for everyone. Every divergence of key indicators and trend charts will affect the market trend. This method has been tried and tested, so you must learn to understand the chart and then understand the order. If the trend chart does not change, just follow the trend chart. The post is time-sensitive, so pay attention to it in time! The news tonight focuses on the last non-agricultural data in 24 years. If it is higher than expected, it is good news, otherwise it is bad news. The market will fluctuate violently before and after the data fluctuations. Keep your hands and find the key points to start!
From the 4-hour chart of ETH: after some indicators of the yellow line diverge, the shorts are gradually released. It is very clear from the trend chart that ETH will fall back almost as soon as it touches the upper trend line, and rebound upward after inserting the support of the lower trend line at 6:00 am. It is currently suppressed by the trend line. The upper highest point pressure is near 3935, which is also the best position for shorting. However, once it breaks through 3960 and stands firm at 4100, it will be strongly bullish. Because it is suppressed by the indicators of the weekly and monthly lines, the probability of an upward breakthrough this week is not high. Other technical indicators are directly bearish. Unless there are special divergence indicators or news, the intraday high-altitude is the main focus.
ETH intraday strategy: 3935-3950 short, target around 3840!
BTC intraday strategy: 98900-99300 short, target around 95000! #比特币回升至97K #山寨币市场观察
11.29 BTC, ETH Evening Analysis: Breakthrough at the End of the Month is Approaching, Bullish Trend
U.S. stocks have always had a significant impact on the fluctuations of the cryptocurrency market. Since the U.S. stock market was closed last night, the market has shown overall weak fluctuations in the past two days. The post on the 28th was bullish, but the market did not provide an entry opportunity. The general direction remains bullish, as long as the overall direction aligns, we will continue to follow the trend line for low entries. There are still two days to close the monthly line. The risk of Bitcoin's spike is much higher than that of Ethereum. The resistance above Ethereum on the monthly line is at 3830, leaving considerable room for movement. Therefore, focus on Ethereum!
From the 4-hour chart of ETH: The triangular trend has already broken through, so we will continue to lay out support below this triangular trend. There are two resistance levels on the 4-hour chart, 3660 and the monthly line resistance at 3830. As long as the first resistance above does not break, it will continue to operate within the range of 3540-3660, maintaining a bullish bias. If it breaks, we will look at the monthly high. For pullbacks, we can consider setting up a medium-term position, with the trend line support at 3598 being the first level to watch; if it does not break, we can go long. If it breaks, we can look at the second support level at 3540 to set up long positions. Currently, all technical indicators and auxiliary indicators on the 4-hour chart are turning upwards, strongly bullish. So, let's buy on dips tonight!
BTC Evening Strategy: Long from 96700-97200, target around 99200!
ETH Evening Strategy: Long from 3590-3605, target around 3660!
11.26 BTC, ETH Evening Strategy: Double Top Breakthrough Imminent, Early Ambush in the Market
During the day, Bitcoin has tested the lower resistance of 92500 multiple times. It was clearly stated in previous posts that this is a key point for the shift from long to short. Based on the pin drop point, the market may break through at any time. If there is a rebound in the US market, there will be a third segment of downward movement. If the pin drops to 90,000, it will form a double top downward trend. However, there won't be a significant breakthrough in the short term; it will definitely retest this key position to start building a base. The bottom of the double top around 89800 is the last line of defense for the long-short game. This position will be an excellent point for laying out spot trades, so pay attention!
From the 4-hour chart of BTC: a new trend and a downward trend line are forming. Tonight, pay close attention to the divergence in the MACD indicator. If the closing line at 12:00 AM shows consecutive bearish bars upward, the market will build a base and rebound. Using divergence structure and trend lines for prediction can be very accurate, especially since the post on the 22nd mentioned focusing on the daily level's top divergence. Therefore, Bitcoin began to adjust downward as expected on Saturday. Discussion is welcome! Currently, the attached indicator OBV is crossing down strongly bearish, and the overall trend is also downward. So if going short, the key position below is 92500, and if it breaks, watch the lowest point of the double top bottom at 90500. Combining with Fibonacci, the resistance after the rebound is at 95200, indicating that this is the best position for shorting. Therefore, the operation focuses on high shorts!
BTC Evening Strategy: Short at 94800-95300, targeting around 92500!
11.22 BTC, ETH evening analysis: Risk aversion surges, find the key position to start
In the past two days, the price of Bitcoin has been continuously moving upward, and the overall trend is consistent with the view of the post that it has reached a new high. However, after multiple new high adjustments, the bulls are relatively strong, resulting in a very small pullback, which did not hit below the trend line. In particular, the escalation of the Russian-Ukrainian war has led to a surge in risk aversion in the crypto market, approaching the 100,000 mark. When the market is bullish, you must remain in awe. If you go long, you can stop when you see a good opportunity to avoid being trapped at a high level. Focus on the large-scale top divergence of the daily line to prevent a change in the market. If the trend chart has not changed, follow the trend chart first. Once it retreats and falls below 95,000, it will be a big drop.
From the 4-hour chart of BTC: After five or six days of consolidation, the big cake broke through the upper trend line upward. It is very clear that the trend line and the daily chart have diverged. At present, the risk of going long is relatively high. It is more appropriate to wait for the retracement of the upper trend line and the lowest trend line to open a long position. Since the attached indicator is currently turning downward, the trend indicator diverges. First, the high-altitude is the main focus. Once the lower trend line cannot be broken, it will inevitably rise. The two key support points below are currently at 95,700 and 92,500. Going long is also to wait for the retracement trend chart to go long, just take a good defensive position!
BTC evening strategy: short at 98200-98700, target around 95700!
11.20 BTC, ETH Intraday Analysis: Pay Attention to Major Direction Adjustments After New Highs
Is there another new high after the last one? This is a question many friends are concerned about recently. My view is that there will be new highs, but the upward spike space will not be too large. The new high that appeared last night was just an inertia surge, and it is highly likely to be a trap for bulls. There will not be a significant upward movement before December. Once it breaks downward, there will be a substantial drop. As altcoins also enter adjustments ahead of time, friends who are long can take profits and wait for the second opportunity to re-enter!
From the 4-hour chart of BTC: Last night, Bitcoin broke through the wedge triangle. After the new high, it only spiked up 600 points. The absence of significant upward movement indicates that buying power is still relatively weak. The previous triangle resistance just happened to turn into support at 91800. It has bounced back twice near the support level during the day, but currently, the rebound strength is not strong. When looking at the trend line, it is clear that the highest point formed by the upper trend line is at 94200. Therefore, if it spikes upward, a short position can be taken at the highest point of the trend line. If it breaks below the support conversion point, we look at the support level of the lowest trend line at 90400. If both key supports break consecutively, there will be a significant downward adjustment tonight.
BTC Intraday Strategy: Short at 94200-94600, targeting around 91800!
ETH Intraday Strategy: Short at 3195-3210, targeting around 3080!
11.18 BTC, ETH Evening Analysis: Trends Becoming Clearer, Focus on Short Positions
The recent market trend for Bitcoin has mainly been focused on short positions, and the overall direction has been very precise. The post already mentioned last night that the upper resistance is around 91800. Currently, it seems that the false breakout at 15:00 this afternoon has not stabilized, and the large bearish candle at 19:00 on the hourly chart clearly indicates a bearish trend, which aligns with the recent bearish perspective. On the daily chart, the overall direction continues to show lower highs, strongly bearish. If tonight's daily candle closes as a large bearish candle and breaks below the key support level of 87450, then we can expect a strong bearish trend and a significant drop, so let's wait and see!
From the 4-hour chart of BTC: After the close at 8:00 this morning, an upward trend line was formed. As mentioned yesterday, the market is within a triangular range. Currently, Bitcoin is above the 4-hour trend line, but the overall direction is below the daily trend line. During the day, it just touched the highest point of the daily trend chart before retracing downward. All other technical indicators are showing a bearish outlook, so shorting during a rebound is advisable. The shorting position will rely on the new technical indicator MA moving averages, as they are notably concentrated around the level of 90800, which is the most suitable point for shorting. The downward target is the level above the trend line at 89200. If this level is broken, we will look at the lowest point of 87450, as this position is a significant support on the daily chart that has not been broken for five consecutive days. As long as the overall direction breaks downwards, we can expect a strong bearish drop tonight.
BTC Evening Strategy: Short from 90800-901300, targeting around 89200!
11.17 Weekend BTC and ETH market summary: Next week's market will open a breakthrough
Post No. 14 repeatedly pointed out the risk of decline. At present, the overall trend is in line with expectations, and the pullback is stronger than the rebound. The trend over the past two days of the weekend is basically a wide range of fluctuations. At present, the resistance above 91800 is very strong. It has been stuck downward for three consecutive days and failed to stand firm. Therefore, it is difficult to break through the new high again in the short term. Next week, focus on the lifeline position 87450 below the triangle trend. If it breaks downward, the general direction will turn to short. Wait!
From the 4-hour chart of BTC: the first stage of the callback of the big cake has been completed, and the second stage will be formed tonight. The general direction is still rebounding and shorting. The technical indicators are currently oscillating around the middle rail support. MACD short energy is bearish with a large volume. The other indicators KDJ and OBV have crossed downward. If the closing line crosses downward at 12:00, it will be strongly bearish. The resistance below is very obvious when combined with the trend chart. At the low point of the trend line at 89530, the breakthrough depends on the 4-hour support of 87450, because this is the resistance level that has not been effectively broken through after multiple tests, and the trend chart shows a triangular contraction. Then the oscillation range will only become narrower and narrower, and finally choose a directional breakthrough. From the technical indicators, all are strongly bearish downward, so the operation is mainly high-altitude.
BTC weekend strategy: 90800-91300 short, target around 89530!
11.4 BTC, ETH evening analysis: Multiple tests of the resistance line during the day, further correction will be made if the price breaks through
The third wave of corrections of Ethereum during the day forms a trend, and the market is expected to fall further. Focus on the position of 3146 of Ethereum. Once it breaks through and stands firm, it will directly pull back to below 3000. Why use a pullback? Because the strength of the pullback is limited and cannot affect the big upward trend, friends who operate in the short term can just focus on the small-level trend! At present, Ethereum belongs to a structure of oscillating downward. The three attempts at the trend line above have not broken through. Obviously, the selling pressure above is very large. Then follow the trend to trade rebound and short
ETH from the 1-hour chart: a very classic head and shoulders top pattern, which usually appears at the top. It is clear from the resistance range that 3135-3146 is the position of the 4-hour lifeline. As long as the big Yinxian does not stand firm downward, there will still be a rebound. If it breaks through, it will be strongly bearish. Combined with technical indicators, the MA5, 10, and 30-day moving averages cross the highest point of the trend line to form a pressure level of 3204, but Ethereum has fallen below the neckline, so it is best to open a short position based on the 4-hour lifeline position. In addition, all the attached indicators are bearish, especially the OBV opening is very large and the yellow line is continuously stepped back downward, which is strongly bearish. Then follow the trend and focus on high-altitude
BTC evening strategy: 89380-89880 short, target around 86500!
11.9 Saturday BTC and ETH market summary: weak rise, be vigilant!
This week, due to the influence of Trump's coming to power and the Fed's interest rate decision, the big cake has reached a record high. It is currently in a shock correction stage. The price behavior is in the fourth push upward, but the pin point is low and the rise is weak. Last night's post suggested that the high-altitude is the main one. From the intraday trend, it is basically in line with expectations and very accurate. As long as the structure is not destroyed, it can be done by opening a short position at a high level. The weekend market is basically volatile. Next week, focus on the position of 71990, a big support. The monthly line is bullish and will rise if it does not fall below.
From the weekly chart of BTC: the trend line structure is upward, at the key node of 3 waves rising and 4 falling, because the 3rd wave is the longest, once the turning point is formed at the top 77180, it will definitely fall sharply, stepping back to the lowest point below 71990, either down or rebounding to break the new high in five waves. It is very clear here when combined with MACD and OBV. The indicator is in the third rising stage, and the real positive column is gradually rising. The general direction belongs to an obvious upward trend, so it is very clear to see the trend chart. After the general direction is set, the 4-hour support is found at 75750. If it does not fall below and stabilize, it will continue to move in the third wave. Pay close attention!
From the daily line of ETH: the trend is clearer than that of the big cake. It is strongly bullish after breaking through the wedge range. The post also clearly reminds us to focus on the upper pressure position of 3280. The recent high-level consolidation of the big cake does not rule out the possibility of ether sneaking up. Observe that all technical indicators are bullish upward. The short-term indicator divergence does not affect the rising process. Just find the key position to short.
BTC Saturday strategy: 75550-75850 to do more, the target is around 76700!
ETH Saturday strategy: 3005-3015 to do more, the target is around 3080! #山寨季分析 #大盘的下一步?
11.7 BTC, ETH evening analysis: interest rate decision is coming strongly, where is the market going?
The interest rate decision will be released at 3:00 am tonight. Once the interest rate cut of 25 basis points is confirmed, it will be good for cryptocurrencies, and there is a high probability that it will break new highs. Pay close attention. Recent posts are all prompting long positions, and the general direction is basically in line with expectations. With the end of the election, the lifeline of 71,500 on the daily line of Bitcoin has been strongly broken, and the bullish trend has been basically confirmed. In terms of indicators, we should focus on the divergence of the daily volume. In the case of downward bearish divergence, the retracement of Bitcoin is very small, so we need to be vigilant! Recently, it is recommended to do Ethereum. Ethereum is too weak. The main reason is that after breaking through the daily range, it rose by more than 200 points. There is a lot of room for concentrated outbreaks.
From the daily chart of ETH: the wedge triangle interval has broken through the upper lifeline of 2770, forming a bullish trend. At present, resistance and pressure are mutually converted. The 4-hour lowest point is 2619, which is also the best point for long positions. If the lifeline is broken, look at the lowest point. If it is not broken, go long around 2770 and grasp the key position. Combined with technical indicators, the moving average has deviated from the indicator and will retreat in the short term. The attached indicators are all bullish, because the OBV and KDJ indicators form a cross-up. The small level crosses the large level and belongs to a strong bullish stage. The general direction of the daily trend chart is very obvious. The bottom-to-bottom high structure is upward, so wait for the callback to end and follow the general direction to go long
BTC evening strategy: 73700-74200 to do more, and the target is around 75900!
11.1 BTC, ETH Evening Analysis: Intense Tug-of-War Between Bulls and Bears, Is the Non-Farm Data Favorable?
From the non-farm employment data released at 20:30 this evening, the significant discrepancy below expectations is a strong favorable indicator. Regardless of whether the data is adjusted, it has indirectly prompted a rebound in Bitcoin. Looking at the chart, after the M-top formation, the daytime belongs to a downward cycle. Because the technical indicators on the daily line closed last night and are showing a downward divergence, it aligns with the basic trend pattern of M. If the previous low of 68800 cannot be broken in the latter half of the night, it is highly likely that we will enter a period of consolidation, which will basically continue over the weekend.
From the 4-hour chart of BTC: Bitcoin has shown long wicks both upwards and downwards. Although the technical indicators show signs of turning, it has not stabilized below the trendline's low point of 69100. Pay attention to the latter half of the night; if it still does not break through, there will be a consolidation adjustment. Currently, the general direction indicates a bullish trend channel, and the structure is upward, so after a pullback, there will be considerable space for an increase. Looking at the 4-hour closing situation, the upward wicks are relatively long, indicating a strong bearish sentiment in the market, and combined with the additional indicator OBV, it is also showing a downward crossover indicating bearishness. Except for KDJ being oversold, all other indicators are moving downwards, so for now, the direction should primarily focus on short positions while maintaining good defenses in the context of a bullish long-term outlook!
BTC Evening Strategy: Short at 70700-71200, targeting around 69500!