Short: 7650 is not the bottom, the real bottom is far from coming

诺海_NhCynora

特邀专栏作者

2020-03-10 13:24 (UTC+8)

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Give up the rebound and go short at high positions

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Give up the rebound and go short at high positions

Overall market:

Overall market:

The market continued to drop to a new low yesterday, with a minimum of 7650 (Bitmex price), continuing the momentum of heavy volume for 3.8 days. The overall trend still maintains a bearish view. It is worth noting that yesterday’s minimum of 7650 happened to be the shock of the current round of market rises Yan, I also made it clear to everyone in the live broadcast yesterday that there will be some buying power around 7650 to counteract this downward momentum, but it is not enough, as shown in the figure below

We must clearly know that the rebound strength of 7650 is not enough to change the trend background, and the buyers at this position do not have enough bargaining chips to reverse the trend. Therefore, 7650 can be regarded as the first target for short positions. Rebound, but the strength of the rebound will not be large, and the follow-up will continue to look at new lows, 7130, 6600

Can 7650 buy the bottom?

Personally, looking at a weak rebound, it is not recommended to buy bottoms, because this is not a bottom at all. A real trend bottom needs time and space to brew. Of course, major positive fundamentals may change this expectation, but it is extremely important after all. In a small probability event, the price will eventually follow the strong side of the market, that is, the short trend, which is not over, 7650, the copy is only a rebound, not a bottom

At present, the bears see 7600 first, and then continue to break new lows after a slight rebound. The first target is 7100, and the second target is 6600.The waterfall is coming as promised, the first target for shorts is 7100, don't buy bottoms, short rallies!

At present, the bears see 7600 first, and then continue to break new lows after a slight rebound. The first target is 7100, and the second target is 6600.

Trading straregy

At present, there is a small rebound at 7650, out of an unfinished double bottom, and the price steps back near the trend line. If it does not break through, the double bottom pattern cannot be confirmed. The idea is to maintain short rallies. Key pressure: 8000, 8265, key support: 7650, 7100

ETH Strategy Today

Give up rebound profits, short rallies, bearish after triangle convergence, key pressure: 206, 216, key support: 190.52, 186

EOS Strategy Today

Continue to be bearish, there is no sign of trend reversal, short rallies in operation, key pressure: 3.116, 3.245, key support: 2.8578

BCH Strategy Today

Currently testing the 268 first-line support for 4 hours, there are some bottom-hunting buyers intervening, the key is to see if it can cause the follow-up price to follow, if not, continue to bearish and record lows, target 223, key support: 255, 223, key pressure : 280, 295

LTC Strategy Today

There is no doubt that there is a short trend, 47.82 is the key buying area. If the weak pullback is at this position, you can intervene in the short position. If you want to stabilize or rebound at a high level, it is safer to follow the trend. Key support: 47, 43.9, key pressure: 51, 55

XRP Strategy Today

It has basically returned to the starting point of this round. Don’t go long based on this, rebound and short. If it does not rebound, open the moving average and go short along the fast moving average. Key support: 0.198, key pressure: 0.22, 0.223