1.7 Morning market analysis of Bitcoin: Is the bull market coming?

market analysis

market analysis

The BTC price rose to around 8,000 this morning, and after the pressure fell back, it ran around 7,900 in the short term. The trend continued the recent upward trend. Structurally, it was in the 7,800-8,200 range in the early currency price intensive transaction area. Looking at the 4-hour trend , the moving average system runs upwards in a long-term arrangement below the currency price, and the short-term currency price can be supported to a certain extent, and the short-term currency price will still have an upward trend. On the whole, the current risk aversion sentiment is the main driver of the recent rise in currency prices. There are signs of a callback in the short-term technical form, but it cannot effectively suppress the increase in currency prices. We need to pay attention to the two pressure levels of 7800-8200 within the day Broken situation.

The trend continued to be positive, and the upward test was blocked by the middle and upper track of the Bollinger Bands, and failed to break through the track away from the Bollinger Bands. However, the situation is already that the bulls have the upper hand, running above the 5-day moving average and the 10-day moving average. The current price is near the 60-day moving average, and the trend has been blocked and fell back. Su Zhe believes that it is now in a high-level consolidation posture, and the bulls have reserved their upward offensive. It is expected that the price will continue to rise in the future.

four hour chart

The Bollinger Bands closed inward and opened up again, and the price is slowly approaching the upper track of the Bollinger Bands. The current trend is running above the five-day moving average, and the upper area has been broken, and the moving averages are arranged in long positions. It is very likely that the upward trend will continue again in the future.

Among the technical indicators: each indicator presents an attitude of increasing volume upwards. To sum up, there is a great opportunity for the situation to go further upwards and get out of a new situation. Therefore, in terms of operation, Su Zhe suggests that long orders should be the main strategy, and short orders should be supplemented.

After the strong rise of BTC on the 3rd, it has been rising to 8000. As the Spring Festival is getting closer, it seems that the entire market has been developing in a good direction. Judging from the current situation, if the traditional safe-haven assets such as gold do not show a very considerable continuation of extreme diving performance in the short term, or if BTC does not really fall below the 7000 integer support, then the market will not experience extreme changes. Therefore, the current bulls have taken the absolute advantage in the market and are expected to continue to rise; however, in the long run, BTC is still oscillating within the range, and before the strong pressure in the upper 7800-8300 area fails to break through, we should not be too cautious. Pay attention to the breaking situation of 8000 points within the day, and pay attention to the callback risk control!

Su Zhe said yesterday that he only made one long order, and he is still making a profit. At the beginning, his position was 100,000 contracts, but he withdrew half of it yesterday. Yesterday, he made a profit of about 1400U. In the morning, Su Zhe withdrew half of his position again. There are 25,000 left, and today is also a profit of more than 1,000 U. The total profit is now 8000U, an 8-fold increase, hahaha. (Screenshots of positions cannot be posted. If you want to see them, follow me and contact me, and I will show you)

Interested friends can read more articles published by Su Zhe, and those who want to know more trading ideas and trading systems can contact [BTCsuzhe] me.

The market is changing rapidly. There is no fixed operation suggestion here. The specific entry point is determined according to the real-time market. In terms of operation, enter the market with a light position. Don't be greedy and take it easy. Pay special attention to stop loss and stop profit, brothers. Pay attention to controlling risks! Friends who want to keep up with the operation are welcome to discuss and communicate with Su Zhe.