November 24th, Monday evening trading strategy



This wave of Bitcoin on the 4-hour chart is indeed a bit annoying - after crashing down from around 88000, it has been hovering in the 85000-88000 range, currently stuck around 85900.

Resistance/Support: The upper level of 88100 is the upper Bollinger Band plus previous high resistance, while the lower level of 85700 is the middle band support, which has not been broken for now. The MACD has formed a golden cross below the zero line, but the red bars have not increased in volume. The RSI is stuck around 50, showing a neutral state where neither bulls nor bears have strength.

More realistic volume: increased volume during declines and reduced volume during rebounds indicate that bears are temporarily in control, but support has not yet been broken.


Short Selling: Wait for the rebound to hit the resistance level near 88000 before shorting, set a stop loss at 88800 (to guard against sudden rebounds), and initially target 84500, if it breaks then target 83300.

Want to go long: Don't rush to catch the bottom, wait for a solid breakout above 86000 with volume before following, set a stop loss at 85000, and initially target 88000.

#反弹币种推荐 $BTC
BTC-2.06%
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