Yesterday, in my midday article, the master suggested to buy in batches in the range of 68000-68400. The market fell to a low of around 68155 in the morning, and then rose to a high of 69332. The pre-buried long position won 1100 points.
The short orders that were buried in batches in the range of 69,600-70,000 rose to a maximum of 69,600 in the afternoon yesterday, and then fell to a minimum of around 68,680 at 11 pm, with the pre-buried shorts gaining 900 points.
BTC 4 hours:
Despite the recent news of the approval of the Ethereum ETF, which is considered positive for the cryptocurrency market, the market remained range-bound during the weekend with prices remaining around $69,000.
However, the master expects that the effect of Ethereum ETF will gradually emerge like Bitcoin. This approval means that crypto assets are legally recognized, so institutional demand is expected to increase, and the bullish view can still be maintained in the medium and long term.
The first resistance is at 69120, and the second resistance is 69500. If the price breaks through the first resistance level, the short-term bullish view will be strengthened, but if Bitcoin fails to break through the current high, it may adjust to the uptrend line in the above figure.
If the price approaches the first resistance level, we can preliminarily judge that it has stabilized at the 69,000 mark, but we should also pay attention to whether the price can support 69,100.
The first support is at 68500, and the second support is 68120. If the intraday price falls below the first support, the low point may be lower, but there is still support from the rising trend line below.
Therefore, once the price falls below the first support, a long lower shadow is expected to form. Therefore, we can regard the first support and the rising trend line as favorable entry long.
Today's trading suggestion: Wait for the price to adjust to the rising trend line before trading in the short term with a mainly bullish perspective.
If the resistance near 69,000 fails to break through, and a short-off caused by bearish sentiment occurs, we can also regard it as an opportunity to enter the market and short, and we can also set 68,000 as an important support line.
Please refer to these suggestions when trading
5.27 Master's short-term pre-buried order:
Long entry reference: 68100-68500 range, long in batches, 500 points of defense, 69200-69500
Reference for short entry: 69100-69500 range, short in short, 500 points of defense, 68500-68100
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