Monthly line closing, a big drop is imminent—don’t miss the high-level short opportunity!
The “hot” 8 has quietly started. Lately, the market has been pulling back and forth repeatedly, with extreme ranging—so there hasn’t been much to update recently. In truth, there’s not much to say: neither support has been broken nor resistance has been broken. From the chart, both high shorts and low longs can grab some quick gains. However, in actual trading, people often end up chasing rallies and killing positions, getting beaten back and forth!
Bitcoin’s monthly line has closed with a hammer plus a small bullish candle. In the Bollinger Bands, the middle band and lower band are both opening downward and moving lower, especially the lower band. On the weekly level, the middle band and lower band are also opening downward, but note that the KDJ is currently forming a golden cross upward, and the MACD bullish energy is still in a period of oscillation. Therefore, when shorting, it must be a high short—never chase the short.
On the daily level, the Bollinger middle band and lower band are both opening downward and moving lower as well, and the KDJ and RSI are also opening downward. Meanwhile, the MACD bearish momentum has been continuously expanding in volume. So in terms of trading, Zhong Liang’s view remains: short on rallies as the primary approach!
For intraday scalping: watch the overhead resistance at 63,500 and 64,000. Consider entering the main short here. For adding positions, consider 65,000 and the prior high around 67,000.
For downside support: 62,500 and 61,500, as well as the 60,000 level.
For the “two pancakes” intraday scalping: overhead resistance to watch is 1880 and 1900. Consider entering the main short around here. For adding positions, watch 1940 and 1980—the prior high resistance. Downside supports: 1840, 1800, and 1750.
In the recent market action, there’s a big divergence between bulls and bears. The bears believe the price is consolidating at high levels; the prior high resistance hasn’t been broken, and with the Bollinger Bands opening downward, the market still has a need to probe lower. The bulls, on the other hand, believe the market is building up energy at high levels, and the pullback strength is not strong—the highs are being lifted, which is a bottoming signal. No matter whether you’re bullish or bearish, remember: don’t chase rallies or kill the trend. If you’re looking for the upside, then every pullback near support is your chance to consider going long. Conversely, if you’re leaning bearish, then rebounds into resistance are your opportunity for high-level shorts—mutual benefits, each making the other work. #美日2011年来首次联合干预日元
The “hot” 8 has quietly started. Lately, the market has been pulling back and forth repeatedly, with extreme ranging—so there hasn’t been much to update recently. In truth, there’s not much to say: neither support has been broken nor resistance has been broken. From the chart, both high shorts and low longs can grab some quick gains. However, in actual trading, people often end up chasing rallies and killing positions, getting beaten back and forth!
Bitcoin’s monthly line has closed with a hammer plus a small bullish candle. In the Bollinger Bands, the middle band and lower band are both opening downward and moving lower, especially the lower band. On the weekly level, the middle band and lower band are also opening downward, but note that the KDJ is currently forming a golden cross upward, and the MACD bullish energy is still in a period of oscillation. Therefore, when shorting, it must be a high short—never chase the short.
On the daily level, the Bollinger middle band and lower band are both opening downward and moving lower as well, and the KDJ and RSI are also opening downward. Meanwhile, the MACD bearish momentum has been continuously expanding in volume. So in terms of trading, Zhong Liang’s view remains: short on rallies as the primary approach!
For intraday scalping: watch the overhead resistance at 63,500 and 64,000. Consider entering the main short here. For adding positions, consider 65,000 and the prior high around 67,000.
For downside support: 62,500 and 61,500, as well as the 60,000 level.
For the “two pancakes” intraday scalping: overhead resistance to watch is 1880 and 1900. Consider entering the main short around here. For adding positions, watch 1940 and 1980—the prior high resistance. Downside supports: 1840, 1800, and 1750.
In the recent market action, there’s a big divergence between bulls and bears. The bears believe the price is consolidating at high levels; the prior high resistance hasn’t been broken, and with the Bollinger Bands opening downward, the market still has a need to probe lower. The bulls, on the other hand, believe the market is building up energy at high levels, and the pullback strength is not strong—the highs are being lifted, which is a bottoming signal. No matter whether you’re bullish or bearish, remember: don’t chase rallies or kill the trend. If you’re looking for the upside, then every pullback near support is your chance to consider going long. Conversely, if you’re leaning bearish, then rebounds into resistance are your opportunity for high-level shorts—mutual benefits, each making the other work. #美日2011年来首次联合干预日元