Crypto Circle Scholar: 1.21 Bitcoin's failed ascent to the north, can it regain some ground by heading south? Latest market analysis and thought references
Bitcoin's current price is 89500, it is now 3:30 AM Beijing time, the northward attempt at 93000 failed, the gap below has already opened, choosing to head south at 92500, I have made about ten trades this month so far, this is the second time being swept out by the main force, the old rule is to admit mistakes and not resist the position, only by doing so can operations be more flexible and varied, and profits can run
Before the release of the daily K-line, the highest was 92845, the lowest was 89350, the EMA trend indicator is still in a sideways contraction. Now support has turned into resistance, EMA30 and EMA15 overlap at 92000, the key resistance level remains at the 0.618 line of 94200, the MACD mid-line level volume has ended, beginning to shrink downwards, DIF and DEA have also formed a death cross bearish trend, along with the Bollinger band breaking down at 92400, the K-line plunge has a possibility of impacting the lower track at 87800,
The four-hour K-line U shape contraction has failed, breaking down the trend at 92400 first, the EMA trend indicator has started to alternate downwards, forming a large bearish trend with a four-line death cross, MACD continuous shrinking in volume, the Bollinger band is opening downwards, the K-line is continuously expanding downwards around the Bollinger band lower track at 89860, the short-term level has entered an extreme oversold sequence, with a high probability of a rebound. Friends who haven't headed south can wait for a rebound and then continue south.
Short-term thought reference: The market is not 100% certain, so always manage stop losses; safety first, small losses with big profits is the goal.
Below 87500 to 86500 does not break northward, stop loss 400 points, target looks at 88500 to 89500, breaking point looks at 90500.
Above 91500 to 92000 does not break southward, stop loss 400 points, target looks at 90500 to 89500, breaking point looks at 88500.
Specific operations are based on real-time market data; for more information, please consult the author. The article release is delayed, suggestions are for reference only, risk is self-borne.
