11.6 Bitcoin short-term bullish rebound, is the market reversing? Intraday market analysis and trading strategy.

CN
孟晓瀚
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8 hours ago

Yesterday, I personally predicted that the market would experience a rebound from an oversold condition. During the day and into the evening, Bitcoin rebounded to around 104,500. Ethereum also reached the resistance level of 3,480 before starting to adjust. After today's daily update, Bitcoin's price is still running below the MA5 daily moving average, and the gap between the price and the MA5 daily moving average has not yet been repaired. The MACD and KDJ indicators are still below the waterline and showing a divergence, indicating that the overall direction remains biased towards a bearish sentiment. Therefore, it is crucial to focus on whether the resistance level of 104,500-106,000 can be effectively broken through during the day. If it cannot be effectively broken, it is expected that this week will continue to test the support strength at the lower level of 99,000-98,000.

On the 4-hour chart, the current price is relying on the MA5 daily moving average to show a slight rebound in sentiment. The MACD and KDJ indicators are short-term biased towards a divergence, but the overall trend of the BOLL band and the MA30 daily moving average maintain a downward shape, indicating that there is strong selling pressure above. Combined with the hourly chart, the current market is leaning towards a slight range-bound adjustment trend. For day trading, my personal view is to aim for short-term swing trades, focusing on the rebound high.

Trading strategy: Gradually sell between 104,500-105,500. Target: 103,000-101,000. Stop loss: 106,000.

Ethereum's short-term trend is basically in sync with Bitcoin, with resistance levels around 3,480-3,530. It is expected that the intraday trend will first rebound and then start to pull back. For day trading, my personal view is to aim for short-term swing trades, focusing on the rebound high.

Trading strategy: Gradually sell between 3,475-3,525. Target: 3,370-3,200. Stop loss: 3,550.

For the current trend, I expect it to be sufficient, and I will continue to follow up.
My personal views are for reference only. There may be delays in article review and push notifications, and the market changes rapidly. Specific entry and exit points should be guided in real-time, and caution is advised when entering the market.

Writing articles and analysis is not easy; I welcome everyone to like and support. A scientific and reasonable trading system, along with position control and risk management techniques, can help you reach greater heights! It will guide you out of confusion and darkness! Just like you, who are still indecisive at this moment, hurry up and scan the QR code to follow for surprises and real-time market analysis.

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