jherryPowell

BTC:Come to the key position

Long
INDEX:BTCUSD   Bitcoin
Is a person happy or not?It depends entirely on his attitude towards life. If life is not happy, it must be the wrong attitude.The investment market is the same, half happy and half worried. This is a place where money is redistributed. No matter whether the market rises or falls, it will always create one group of people and destroy another group of people.Is it a leek or a sickle?It depends on our attitude towards the market and the strategy in trading.

The daily line level broke through the 10-day moving average yesterday, and finally oscillated in a weak state. In the morning, a wave of decline rebounded near 29060. For the 29000 support point, the short-term rebound is reasonable. After all, there was no significant decline last night and the end of the market. Basically, 29000 has become a support point of course. From a graphical point of view, it just happens to be at the position of the 618 Golden section line, which is why the importance of this was reminded many times yesterday.Yesterday, the strategy also gave a loss of 29,600. Basically, it will fall further below 29,000 or even below. Although it has not fallen below 29,000, it has already touched it.

There is no chance of a rebound. For the weak market, it is more necessary to use aggressive short-term methods to deal with it. Of course, if you are doing band-based, then there is no need to participate.

At the level of the daily line today, we pay attention to the gains and losses of the moving average. If the daily line changes to the moving average, then whether the moving average can become a pressure point requires our attention. In the past, there have been many market behaviors that have shaken positions back and forth, and the daily line has also appeared many times to make a fuss around the moving average. In this regard, you need to be cautious and do a good job of F control. Just try it step by step. The problem is not big!When the daily moving average breaks through again, there will be an inertial pull-up situation, which means that it will test near the short-term period of 30600. After all, this is a short-term decline.

In short, let's pay attention to the pressure effect near 30600 and 30800 for the time being. Once a strong pattern is formed, the high point will be further refreshed. The important pressure is 31200-300, and the large periodic pressure near 32000 on the perimeter.

Operation recommendations:

1: Today's 30600 Xiaokong looks at the pullback, and the above pays attention to the short-term pressure of 30600-30800; try it

2: The short-term 29800-30000 is much smaller, with a loss of 29600, depending on the continuation of 4 hours.Follow 30800-31000.

3: Yesterday, more than 29,400 were able to reduce their positions. We also pay attention to the two small targets of 30,600-31,000. Whether there will be a strong breakthrough trend depends on the transformation.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.