1. Current Core Information of the Market
- Current Price: 873.89 USDT
- 24h Range: 856.00 - 880.94
- Key Levels:
- Support: 864.5 (recent low + lower Bollinger Band), 856 (24h lowest price)
- Resistance: 880.94 (24h highest price), 912.8 (upper Bollinger Band)
- Trend: The 4-hour chart is in a correction after a decline, short-term bias is weak but there are signs of a bottom forming.
2. Suggestions for Long/Short Positions
1. Going Long
Core Logic: 864.5 is a key support level, and as long as it is not effectively broken, the downside is limited, and the probability of a rebound is greater than that of a continued decline.
- Entry Points: 868 - 872 range (near support, do not chase high)
- Stop loss: 863.5 (Breaking below 864.5 key support, trend turns bearish)
- Target:
- First target: 880 - 885 (24h resistance level, reduce positions first)
- Second target: 895 - 900 (Rebound to the upper edge of the previous consolidation range)
Three, key judgment criteria
- Long position established: Price retraces to around 864.5 and stops falling, 4-hour closes bullish, trading volume moderately increases.
- Wait-and-see signal: Price consolidates in the 870-880 range for more than 8 hours, with no clear direction, waiting for a breakout.
Risk warning
If it breaks below 856, the short-term trend turns bearish, long positions must pause; if it breaks above 912.8, the short-term trend turns bullish, short positions must pause.