Crypto Zhongliang: BTC/ETH market outlook at 6:30 AM!

CN
2 hours ago

The market is still in a narrow range of fluctuations, with support not being broken below, and while there is a need for a rebound in indicators, the price is not able to rise much, so it feels a bit tedious to just trade short-term back and forth! On Monday, Zhong Liang gave everyone the high short strategy again, shorting Bitcoin at 60000, shorting Ethereum at 1600, with the lowest retracement around 59000 and 1556, the short position can only be said to have made a small gain, better than nothing. The price has rebounded again, so what should be done at midnight?

The lower band of the Bollinger Bands on the daily chart for Bitcoin is opening downwards, and the space below is gradually opening up. Both KDJ and RSI show signs of flattening and slowing down, while the MACD bearish momentum is lacking. It remains in a continuous fluctuation. On the 4-hour chart, there was a rebound in the evening that tested the upper band resistance, then it retraced and broke through the lower band support, and the current price has reached below the middle band resistance. The KDJ has turned down, and the three lines are about to converge and form a death cross, while the RSI has flattened and is currently turning upward.

There is a need for a rebound correction in the indicators, but the price has not been able to rise much, which is a bit frustrating. It can only trade short-term and cannot form a larger pattern. The operation should still focus on high shorts. If it rebounds upwards, a high short can yield profits; if the market breaks the lower support, it opens up greater bearish profits. Otherwise, this small fluctuation in the middle can be traded or not, and the profits are not large!

Upper resistance focuses on 60500, 62000, and 63500, and participate around here for high shorts. Lower support focuses on 59500, 58500, and 57500.

For Ethereum, the upper resistance focuses on 1610, 1670, and 1740, and participate around here for high shorts. Lower support focuses on 1560, 1500, and 1450.

It's not that the market is unsuitable, nor that the market is weak; it's about being in the wrong position and going in the wrong direction. Change your perspective, and perhaps you will find gold bars everywhere. The Mercedes on a muddy road will never outrun the Xiangyue on a highway! Investors must avoid the idea of becoming rich overnight; what we need to do is survive in the market for the long term. Do not expect to buy at the bottom and sell at the top every time. Avoid greed and panic, and gain profits that can be secured; view every market fluctuation with a calm mind, avoid greed and panic, don't seek to become an expert in buying lows and selling highs, just seek to go with the trend, profit steadily, and secure your gains!

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