It was said on Monday that the market would be in a narrow range of fluctuations this week. After all, it dropped for a week last week, with such large fluctuations and so many positions liquidated. Indicators need to be repaired, and market sentiment also needs time to recover. After all, time can heal everything; the wildfires cannot burn everything down, and the spring breeze brings life again. The capital in this market cannot be exhausted, whether it rises or falls, every day, every moment, the drama of liquidation is being played out! Over the weekend and on Monday, for two consecutive days, everyone shorted at 64000 and 1700, and without a doubt, they all made profits! In a fluctuating market, one must learn to reduce positions in batches so that the meat at hand is not spat out again…
Bitcoin's daily candlestick closed yesterday with a small bearish candle with equal upper and lower shadows. The KDJ and RSI are both turning up, while the MACD's bearish volume continues to decrease. The need for indicators to recover is always there, so shorting now is just taking a bite and running. Last week was truly the bears' feast, a battlefield for getting rich!
On the 4-hour level, the price is rebounding but is pressured by the upper resistance. Currently, the three indicators are all opening up and moving upwards, with KDJ and RSI turning up while MACD's volume is insufficient and the bullish volume continues to shrink. This indicates selling pressure, and bearish sentiment remains strong. At the same time, the long shadows on the daily candlestick indicate that buying support below is also very fierce.
On the hourly chart, the price rebounded yesterday but was pressured at the upper resistance, then retreated in the early morning. This retreat did not break the lower support, with multiple pressures around 64000 in the upper region and multiple tests around 62300 in the lower support. On the hourly chart, KDJ and RSI are turning up, and MACD's bearish volume continues to decrease, showing that the need for indicator recovery is still quite evident. In terms of operations, Zhongliang still advises everyone to focus on shorting!
Given that both the hourly and 4-hour upper indicators are opening up and moving upwards, it is likely that the rebound cannot be suppressed at 64000. Zhongliang advises everyone to pay attention to the upper resistance around 64500 and 66000, participating in shorting around here, with support below at 63500, 62500, and 61500.
For Ethereum, attention should be paid to the upper resistance around 1720 and 1780, participating in shorting around here, with lower support at 1680, 1640, and 1600.
It is safest for a ship to dock in the harbor, but that is not the purpose of building ships; it is most comfortable for people to stay at home, but that is not the meaning of life. The best way to live is to run on the path of ideals with a group of like-minded people. To achieve different results, you must choose different seeds; to see different scenery, you must take a different path; to reach heights never before achieved, you must make efforts never made before. All the trials bring growth, and all patience will be compensated in some moment in the future. Destiny is not absolutely fair, so don’t worry or hurry; follow the flow of time and keep striving.
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