Rebound or reversal, can we still hold on to high positions? Check out the views on picking U!

CN
4 hours ago

Not every market segment and every operation will yield a good result or harvest, which is why it is necessary to manage positions, set acceptable stop losses, and then patiently wait for time to provide the final answer. Opening the market, gold, silver, and other precious metals have surged again, while Bitcoin and Ethereum have also experienced a small rally. The short positions entered on Friday are currently facing being trapped. As Zhongliang always says, if you think it can't drop any further, then it's fine to cut losses on short positions or stop losses, or to chase the rise. If you believe in the bearish trend, the rally is to liquidate some heavily weighted short positions or to scare off the weak-willed bears, then set your acceptable stop loss and continue to wait patiently! Confidence is never given by anyone; it is what you think in your heart and your own understanding of the market! If our views are inconsistent, then congratulations, you might be right. If our views are consistent, then congratulations to me, as I am likely benefiting from your insight. Zhongliang's every short position is never about randomly shorting at certain points or stubbornly holding onto shorts; every daily market view contains his own judgment and basis. Zhongliang is just sharing his perspective, nothing more!

Bitcoin's weekly candlestick closed with a long lower shadow small bullish line, and the daily candlestick has three consecutive bullish lines. The market closed with small bullish lines over the weekend, and currently, the rebound is under pressure from the middle track. Although the KDJ has a golden cross upwards, the price is still under pressure and hasn't risen much, and the MACD's volume is insufficient. Therefore, Zhongliang's view remains that the high short strategy is temporarily unchanged, as the resistance has not been broken, and the high point of this small pullback has not been breached. At this time, a rebound for correction is very normal, and there is no consideration to chase the rise. Last Friday, the market tested the lower track support, and the lower track bears are limited, so a rebound is not surprising. Currently, the Bollinger Bands are opening downwards, and the market is exchanging time for space; the lower track is slowly opening wider, allowing the market to move smoothly downwards.

Those who already hold short positions at 88000 and 89500 can continue to hold, as the upper pressure on the market remains unchanged. For those without short positions, pay attention to the resistance around 89500 and 90500, and also the strong resistance near the previous pullback high of 94500. High shorts can be entered around here, and for short-term shorts, set the stop loss around 91000. For a swing trade, at least set it at around 95500.

For Ethereum, the shorts at 2980 and 3030 from last week can still be held. For those without short positions, still pay attention to the resistance around 3000, entering high shorts around here, with strong resistance at 3450. For short-term shorts, a defense around 3100 is sufficient. If this level is lost, then the next high short position to consider would be around 3450, with a defense set at 3550.

Is the market rebounding or reversing? The bulls have their views, and the bears have their persistence. Until the market moves, no one can attempt to persuade anyone; everyone is trying and waiting. There is no need to be overly hostile; the market has always been about you within me and me within you, mutually fulfilling and supporting each other! The market has always been about ups and downs; there are no bulls crying all the time, nor bears laughing all the time. This market is never short of myths of overnight wealth, nor is it lacking retail investors facing liquidation. There has never been a general who wins all the time; there are only long-lasting generals!

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