No matter how the wind and waves rise, the empty basket sits firmly on the Diaoyutai!

Bitcoin shorting has made huge profits during the day, and the continuation of the short position is expected in the late trading!

Analysis of Bitcoin Late Trading on Wednesday

The overall trend of Bitcoin in the early trading is a weak downward trend. The market fluctuated and rebounded in the early trading, and the 63,000 line was under pressure and fell to the lowest level of 62,000 to stop the decline and rebound. The current situation is running around 62,300.

In terms of intraday operations, it is clearly suggested that Bitcoin is bearish, and a short strategy for Bitcoin at 63,000 is given. The intraday market has twice dropped to the 63,000 line, and the market has eaten up 800 points and 900 points respectively. The two short positions have eaten up 1,700 points of space in total!

From the technical structure of the daily chart, the price rebound is blocked, and the high position forms a continuous downward trend. It is obvious that the downward channel has been opened. In terms of operation, just follow the trend! The four-hour trend structure is already quite obvious. Under the weak rhythm, the small rebound did not continue too much. The short-selling volume continued to increase, and the moving average extended downward consistently without any signs of turning. From the overall rhythm, it can be seen that the bulls are so weak and powerless. The subsequent operation ideas are still centered on the rebound and short!

Operation suggestions

Short Bitcoin near 62800-63300, defense combined with its own position with 800-1000 points, the target is 61500-61000 below, if there is no continuation, short it once!
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