Analysis of Bitcoin's early trading trend on September 11
Market review
I didn't know if you followed the advice given last night to cover the short positions of Bitcoin at 57,000 last night. 57,600-57,800-58,000 are our entry positions and cover positions for shorting. Every time it falls below 56,000, you can reduce your position and continue to cover it when it goes up. Because this short position is a long-term position, it takes patience to hold it.
Last night's CPI made me confused for a while whether it was a lure to buy or sell. After the CPI was announced, the price of the currency also plunged to 56,200, and then rose to 57,100. After that, it started a small waterfall and fell to 55,500, and then rose to 57,950 at night, which means that the CPI data is really bullish, but the market is moving at night. After reaching the high of 57,950 last night, it also began to fluctuate downward. The current currency price is stable at 57,400, and the daily line also closed with a long lower shadow.
Trend analysis
If my analysis is correct, then Bitcoin will start to fall from Wednesday and continue until Saturday, with a daily line of 4 consecutive negatives.
From the hourly line, the price of the currency will fall soon, because the current price of the currency is at the upper track of the Bollinger band, and the opening of the Bollinger band is not obvious, which is equivalent to a sideways state, so the position of 57800 is the top of the range and 55700 is the bottom. This is a short-term trend, and we will continue to draw conclusions after breaking. In my opinion, the support of 55700 is not strong.
Now the United States is carrying a debt of 35 trillion US dollars and taking on the risk of global dollarization. This risk is too great. If it is not handled properly, it will cause the US stock market to collapse directly, and the digital currency will be seriously implicated at that time. The most likely thing the United States will do is to drop the digital currency, so that more people can see the opportunity to enter the market, and then continue to fall, so as to lock in. As for why everyone's money is taken, I don't need to say more. So it is obviously irrational to go long on digital currency at this time.
Operation suggestions
Bitcoin short selling is still around 57200-57600-57800-58000. The target is still to reduce positions below 56000. MA120 daily moving average is at 60900. If this position is not broken, the bulls will have no chance of turning around.
