The downtrend line has been broken through strongly, and we still need to pay attention to short-selling opportunities, and the bulls need to wait patiently

BTC

It closed at 8177.75 at 8 o'clock this morning, a gyro line below the median, with the highest point at 8337.75. The bulls have not followed up yet, and the daily line level is still maintained within the shock range. Generally, we have two operating methods for the shock area. The first is It is an operation of selling high and buying low that fluctuates on the upper and lower edges. The second type is band trading within the range. Which strategy to choose needs to observe the range of shocks in the range in advance. If the range of shocks is too small, the second type is not suitable (because of frequent trading If you can’t make a profit, you have to pay the handling fee repeatedly, it’s not worth it.) For example, the current market is oscillating at 8550 on the upper edge and 7641 on the lower edge. There is about 1000 points of space, which is a wide range of shocks. Then we can try the second method , look for swing trading opportunities within the range, and at the same time combine the first method to place orders on the upper and lower edges of the shock.

Looking at it in 4 hours, the downward trend line was broken upward by Yang K and stood firm, the first condition for a trend reversal was fulfilled, but it should be noted that this does not mean that the price has reversed since then and has gone all the way up! Because the real trend reversal needs a long-term and great force to promote it, the trend is like a train, it will not stop immediately because you step on the sudden brake, but will continue to move forward due to inertia, and this One point happens to be the "potential" we follow, which is usually referred to as following the trend, and that's it. At present, we still pay attention to the opportunity of short selling. If we can see that the short sellers are shrinking and falling slowly + not breaking the previous low, we can start to consider going long.

At the 1-hour level, the price was supported and rebounded at the 0.382 position of the rising band, but the high point continued to decrease. It is expected that this position will be broken soon. The target for killing is to see the green area around 8020 in the picture. Establish a long order at this position, the target first sees the previous high around 8300

Fundamentally, the most noteworthy thing is the case of USDT and Bitfinex being "class-actioned". To put it simply, this lawsuit is playing hooligans. It has been tried and tested (if you don’t know it, you can go to Zhihu to search), and the amount is large (meaning at least a few hundred million dollars to start), but the amount of fines actually has nothing to do with us, because the money will not reach us, but this does not matter. It means that it is completely useless. As you know, finance is completely a game of hype and expectations. If unscrupulous merchants use this incident to spread panic and cause a run on USDT, guess what will happen? Distressed covering BTC and ETH :) …

ETH

Now the price has come to the key pressure level of 184.3. This is the third time it has come to this position after breaking through. Looking back at the previous market, it is found that the downward killing space after each touch is getting smaller and smaller. We need to be alert to the possible heavy volume this time Breakthrough, once it breaks through, there is no doubt that you will go back to this area to do long, the target will first see 189, if it pulls back, consider re-establishing a long order around 179.7

EOS

Weak bullish market after breaking through the key pressure and standing firm, consider bulls when stepping back around 3.0954, first see the FIBO callback level of 3.3 above, there is no opportunity to short

LTC

Try to break through the market at the 58.52 pressure level, be cautious when shorting, and it is not advisable to chase more at the current price. At present, you can only wait for the price to pull back to around 56.56 to intervene in long positions. Those who have already held long orders can continue to hold

BCH

The trend is the same as LTC, you can open a short position with a small position, and the long position is the main one. Let's see if it can break through 238

XRP

Official Account: Rich Generation Charon

trading rules

Regardless of whether you are trading spot, futures, mainstream currencies or altcoins, as a trader, I strongly recommend that you abide by the following principles to execute every transaction. It’s not that you don’t believe in your ability, but what we pursue is "long-term stable Profit", I never want to see you stud, I don't want to see you get rich, because getting rich means losing money (although it doesn't sound good, but it's the truth), no matter how brilliant you have been, if you indulge once, you will lose money. It may make you lose all your money (any market is so cruel, otherwise, how can there be 1 profit, 2 draws and 7 losses?)

Therefore, I share with you the trading principles that I have summed up over the years. I hope you will abide by and practice them. In the end, the market will reward you thousands of times in return, as follows:

1. Opening an order must have a stop loss (as long as the big loss can be effectively avoided, the big profit will definitely come)

2. Never carry orders, never increase your position if you lose money, only make profits

3. Do not trade frequently

4. Plan your trading ahead of time, don’t gamble

5. Don’t trade when something big happens

6. Set the maximum daily loss limit (recommended 6%)

7. Fixed position trading (recommended 2% per transaction)

8. Strictly trade your plan and don’t have your own subjective ideas

Okay, let’s talk so much with you today. If you think the article is helpful to you, you may wish to forward it to more friends. If you are interested in technical analysis, you can contact me to join the group for free (sanbao1488)

Official Account: Rich Generation Charon

Risk warning: Investing in digital currency is a high-risk investment behavior. The content of this article is for reference only and does not constitute investment trading advice. Investors are requested to invest rationally: investment is risky, and caution is required when entering the market.

Risk warning: Investing in digital currency is a high-risk investment behavior. The content of this article is for reference only and does not constitute investment trading advice. Investors are requested to invest rationally: investment is risky, and caution is required when entering the market.