When obstacles arise, you should change your direction to reach your goals, but you should not change your determination to reach your destination. If you do what others want you to do, you will eventually become a laborer. If you appear when others need you and disappear when they don't, you will slowly lose yourself.
Yesterday, the article was delayed due to some matters and was not updated on Friday. The main market situation has indeed not provided much to focus on. A few days have passed, and it is still fluctuating at this position with very small movements and no significant changes. The operations are similar; basically, we are holding onto the previous long positions, with the current average price around 84000 still in position. Although we anticipated in our analysis on Monday that the market might experience fluctuations this week, expecting a range in the first half and a trend in the second half, it is surprising that today is already Saturday, and a week has passed with the fluctuations still ongoing. We can only continue to wait for the market to eventually break out.
In the market, whether it is the US stock market or cryptocurrency, the panic sentiment is currently weakening. The market has ended the panic selling wave and has now entered a period of adjustment. Bitcoin is performing quite strongly; despite the US stock market's decline last night, Bitcoin hardly moved, and the Bitcoin ETF ended its outflow last night with a net inflow of 106 million USD, with BlackRock contributing 80 million, which is a significant force. This indicates that institutional buying power is recovering. Additionally, with the Federal Reserve Chairman hinting that banks will ease their support for cryptocurrencies, as long as there are no major issues with the external fundamentals, the technical aspects remain quite critical.
On the daily chart, the coin price is running near the MA7 moving average, slightly above it, while other moving averages are basically running flat. In terms of technical indicators, the daily MACD is still in a bullish cycle, but we have yet to see a strong bullish effect. There are no particular areas of concern elsewhere. The four-hour chart is the same as before, with the candlestick forming a straight line and the moving averages flattening. The continuous fluctuations have caused the bearish volume bars of the MACD to expand, and the volume bars have shrunk to the extreme. From a technical perspective, the upcoming turning point should not be far off, with the most likely nodes being tomorrow night and early Monday.
In terms of operations, with the fluctuations being small, we will continue to hold our long positions around the average price of 84000 and wait. The operational plan remains unchanged, and the plan to short above will also wait for the market to break out before proceeding. Ethereum is the same, following the previous suggestions for arrangements.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and the market changes in real-time. The information may be delayed, and strategies may lack timeliness. Specific operations should follow real-time strategies. Feel free to contact and discuss the market.】
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