Master Chen 5.26: Short-term pressure turns to support, enter the ultra-short term after sideways consolidation
Yesterday afternoon, Master Chen arranged short-term short orders in the range of 69600-70000 in the article. The market rose to around 69622 at around 19:00 in the evening, and fell to around 68800 before 12:00 in the morning. The short order won 800 points. For the afternoon article, the long order was buried because the market fluctuated in a small range, resulting in the failure of the long order to enter the market.
BTC 4 hours:
According to Master Chen's chart analysis yesterday, the price of Bitcoin is currently consolidating sideways after breaking through the convergence triangle.
Although the view of rising can be maintained in the short term, the probability of adjustment is usually relatively large when it is sideways, so it is a reasonable plan to enter a short-term long position in the callback range.
Today's Master Chen's analysis is not much different from the analysis released yesterday afternoon, so Master Chen can change the first resistance level given yesterday to the support level and then operate.
The first resistance level is 69500, and the second resistance level is 70000. If the price holds the psychological support of 69,000, I think there is a high probability that it will break through 69,500, so while maintaining a bullish view, we also need to pay attention to whether the price of Bitcoin will break through the upper resistance zone.
The first support is 69,100, and the second support is 68,300. At present, the price of the K-line has fallen below the first support, so we should pay attention to the possibility of reaching the second support at any time, and also pay attention to the trend of the 20-day moving average at the 4-hour level in the figure.
In addition, the volatility increases on Sunday nights from time to time, so we can operate after the volatility increases and reaches the short-term range.
Please refer to these suggestions when trading
5.26 Master's short-term pre-buried orders:
Long entry reference: 68000-68400 range, long in batches, defense 500 points, target 69000-69500
Short entry reference: 69600-70000 range, short in batches, defense 500 points, target 69000-68400
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