3/11$BTC [Early Trading]: Bitcoin has emerged from a small-level convergence structure and has no direction until structural damage occurs. It has risen to 70,000. Can I go short?
In the harami range of the second daily line in Figure 2, the box has now achieved a breakthrough, and the potential bullish expectation is established. As long as there is a subsequent retracement and does not break 68300, it can be bullish.
Day operation ideas:
---Since there is no damage to the long structure on the daily line, then don’t go short. If you have to go short, you can only go short;
---The short-term resistance is 69750. It has been tested here several times but failed to break through. Once it breaks through, it will be a new high;
---As for the script after hitting a new high, there may be a correction like the previous two times, maybe not. Therefore, do not use new highs as the basis for opening short positions, but first close the long orders on hand;
---The lower rail of the convergence structure is an upward trend. If it falls below, you can go short and look at the nearest support;
---Once the upward trend falls below, at least in the short term, new highs cannot be reached unless it can be quickly recovered;
--- Figure 3 liquidation map, the upper and lower areas are liquidated for the hardest hit areas, 69900-70600 at the top and 69000-68400 at the bottom. Monday is basically a liquidity market, so remember to protect your orders and be prepared for vaccinations;
--- There have been a lot of pins inserted recently. Try not to connect on the left side for long orders. The strong support at the bottom is near 66000. You can observe the pin insertion here;
There are basically no good ideas on the big pie, and recently my focus has been on copycats. Focus on the gamefi and AI sectors.
Ethereum is about to upgrade, but the strong pressure from above 3960 has never been able to break through, which is slightly weak. Look for opportunities at 3830/3730 below.
Short-term support is 68800/67650/66000, resistance is 69750/∞