Wednesday Midnight Jing Yi's Thinking



From the four-hour cycle perspective, the price broke below the middle band of the Bollinger Bands, retested the lower band and stabilized, then rebounded, which is a technical correction after a decline. Currently, the three Bollinger Bands are gradually narrowing, and the market has not yet shown a breakdown signal, maintaining a range-bound oscillation overall.

On the one-hour cycle, after the price dipped below the lower Bollinger Band, it slightly rebounded, consecutively forming bullish candles, but the market is still in a downward channel. The key resistance above is 624; only a valid breakthrough can allow the bulls to further open up the upside space.

The overall weak market pattern remains unchanged. The trading strategy is to primarily short on rebounds, with proper stop-losses, and to respond flexibly to market changes.

Trading Suggestions
Bitcoin: First support at 607, if broken look towards 598, long-term target 585-550
Altcoin: First support at 1610, if lost look towards 1580, long-term target 1500-1430#Gate直通IPO认购SpaceX
BTC-0.36%
ETH-1.75%
SPCX3.48%
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