The situation of the US-Iran war dominates market sentiment, and the importance of non-farm data may have decreased. If the Strait reopens, monetary policy arbitrage, stock rotation, and shorting the dollar may become the new main themes.
Bitcoin's plunge sentiment is strong, with a slight rebound from the previous day's drop. Overnight, the price significantly dropped to around the 61300 level, and a bearish long position was placed near 67300, which was perfectly reached in one day. The bears are celebrating a collective feast 🎉🎉
On the four-hour level, the price fell to the lower band and then formed a lower shadow, rebounding slightly after hitting the bottom. It was previously mentioned that the current market shows a unilateral trend; a rebound presents an opportunity to short. Going with the trend is the way to go.
On the daily level, it is about to hit the previous low of 60,000, a position with double bottom support. The market has been too bearish, so there is no need to blindly short. Instead, wait for a rebound to short, as there might be some rebound after hitting the bottom, unless the price breaks the previous low, turning the support level into a pressure point, only then can one consider whether to continue shorting. Now that the price has hit the bottom and rebounded, you can consider shorting at the lower levels.
During the day, it is advised to short on the rebound at the 65300-65800 levels, targeting down to 63000 and then around 61500. If it breaks down, aim for lower levels.
Follow the public account, for resolving worries, only Jiang Wei, a treasure analysis blogger with high emotional value, shares trading education for free, bringing stability and clear guidance in the restless trading market, experienced through three rounds of bull and bear markets and years of practical trading experience, skilled in naked K, trends, Dow theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, culminating in unique personal insights.
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