The rebound is not a reversal; the strategy for Bitcoin on December 2nd remains focused on short positions!

CN
19 hours ago

All the way shorting has been quite exhilarating, from last week's 88000, 90000, 91000, and 92000 down to 93000, and Ethereum from 2900, 2950, 3050, and 3100 all the way down. Everyone's expectations were met, with the monthly closing and a drop at Monday's opening. Everyone's short positions have successfully been released, enjoying the profits. During the day, I provided a short signal at 86700, and later at 86500, both of which have been profitable. Who hasn't kept up?

Bitcoin's daily candlestick closed with a long lower shadow bearish candle. The upper and middle bands of the Bollinger Bands continue to move downward, exerting pressure. Last week, the bulls seemed aggressive, but the rebound was also under pressure from the middle band. This is why Zhongliang has been emphasizing a slow rise and a rapid fall in the market, warning of the bulls' traps. It's not that going long has no profit, but if one is not quick to exit, long positions can easily get trapped, and one might miss the opportunity to enter short! The MACD shows a decrease in bullish momentum, and the KDJ has a death cross moving downward, with the market still dominated by bears.

On the 4-hour level, the market stopped falling and rebounded at 83786. Currently, there are two consecutive bullish candles, and the price is above the lower band of the Bollinger Bands. However, remember that a rebound does not mean a reversal; the market does not only fall without rising. Yesterday's large bearish candle caused many bulls to get trapped. Friends who went long should also be given a breather. Those who shorted have taken their profits, and those who reduced their positions, if the market does not repair the indicators and fill the gaps, how can one enter high shorts today? Where can the reduced short positions be replenished?

Last night, resistance was given at 86200 and 88000. If you shorted at 86200, continue to hold without worry about being trapped. Today's upper resistance to watch is 87500 and 88800; high shorts can be considered around these levels. The lower support to watch is 86000, 85000, and 83000.

For Ethereum, resistance was given at 2780 and 2850. If you shorted at 2780, there’s no need to worry; just continue to hold. The upper resistance to watch today is 2850 and 2930; high shorts can be considered around these levels. The lower support to watch is 2750, 2650, and 2600.

The direction is high shorts, but if one always hopes to short at the highest point, or expects to take profits immediately upon entering a short position, it often won't go smoothly. Therefore, when building positions, one should use a method of gradually entering positions. Start with a more aggressive first position but keep the size small, and then add to shorts at the second resistance during a rebound. This way, there’s no need to worry about missing the market or having too large a position, which increases the risk of forced liquidation. Zhongliang shares insights every day, reiterating the same points. I sincerely hope everyone can calm down, listen, and as the year-end approaches, earn more USDT; otherwise, how will you face your hometown folks?

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