The current market situation is actually quite understandable; the overall market is still in a weak correction phase. Although there will be small rebounds in the middle, the strength is very weak, and the overall trend remains firmly controlled by the bears. From the four-hour chart, the Bollinger Bands are opening downward, and the price is moving along the lower band, indicating a very stable downtrend. There is heavy resistance above, and the current rebound is only to correct technical indicators, with a high probability of retesting the previous low around 72,500. Once this level is broken, the next support is at 72,000. The current trading strategy is simple and clear: follow the trend, and rebounds are opportunities to short.



Bitcoin operation: Short near 74,000-74,500 after a rebound, target around 73,000-72,500
Ethereum operation: Short near 2,030 after a rebound, target around 1,950
BTC0.31%
ETH0.71%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned