Weekly review, taking advantage of the surge to profit-taking, bitcoin and ethereum operating suggestions and unwinding

特邀专栏作者

2021-01-30 15:02 (UTC+8)

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Talking about Yu Kai: Weekly commentary on taking advantage of the surge to profit-taking bitcoin and ethereum operation suggestions and solutions

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Talking about Yu Kai: Weekly commentary on taking advantage of the surge to profit-taking bitcoin and ethereum operation suggestions and solutions

Demand for Bitcoin (BTC) appears to be particularly strong in professional trading circles the following day after Tesla CEO Elon Musk updated his Twitter profile sparking a surprise rally.

For a contract that expires within a month, a one percent premium is huge. Significant premiums are normal for futures contracts with longer maturities, as arbitrage opportunities become less attractive the longer you wait. Its attractiveness is comparable to the "risk-free rate" (usually US Treasuries). The current annualized rate of return is just over 1%, which means that making a profit of 1% a month should be more than enough.

There are not many days when Bitcoin has a single-day increase of 20%, but it is the next day. The next day, BTC broke through the $38,500 mark in the U.S. market, with an intraday increase of 20.6%. The skyrocketing happened after Elon Musk modified his Twitter profile, and the price jumped by 6,000 US dollars within an hour, but unfortunately, most of the gains were lost in the second half of the night, causing the currency price to fall into a consolidation again.

Bitcoin (BTC): During the sharp rise and fall of the next day, the price of the currency received a long upper shadow and a positive line. It was said that the trend of Bitcoin changed from falling to rising during the skyrocketing, but unfortunately, the closing line closed at Below $35,000, today it continued its downward trend and backtested downwards. The multiple reversals in the trend put it under pressure again and became bearish. Looking at the BOLL on the daily line, it is in a flat state, and the currency price is stable and running at the bottom of the BOLL. The moving average MA5/MA10 crosses the golden cross to provide support at 32,700 and 32,300 US dollars respectively. You should not be blindly bearish until the two major supports are not broken. The upper part focuses on the resistance of the middle rail of BOLL at $35,000. This position is the recent watershed between long and short. The short-term KDJ technical indicators are moderately downward. The MACD kinetic energy in the attached picture is shrinking. It is expected that Bitcoin will maintain a volatile trend.

In four hours, Bitcoin skyrocketed and plummeted the next day. It is currently adjusting in an upward channel. With the correction of the market, the upward and downward operating space gradually extends, and the BOLL is in a flat state. MA10 pre-crossing dead cross suppresses its upward movement. In the short term, focus on the resistance around $34,500, while below focus on the support of the BOLL middle rail at $32,500. Once it breaks, it will increase the risk of its fall. The short-cycle KDJ technical indicators are moderately downward, and the attached MACD is shrinking. It is expected that Bitcoin will maintain a weak order.

To sum up: Although the rebound stimulated by overnight news was short-lived and failed to hold the support of the $35,000 mark, it also eased the bearish trend this week. For the current trend, the overall bearishness is under pressure, but it is not appropriate to be overly bearish. After all, the market is still adjusting in the range of 32,300-35,000 US dollars, and the recent news is also relatively abnormal. Teacher Tan still recommends it before breaking through this range Maintain the overestimation and low slag thinking to operate, and if there is a break, you can follow the trend. If you are uncertain about the interpretation of technical market and news, or you have a set list, you can discuss it with Mr. Tan. Subscribe to the official account; Currency Circle Retail Alliance.

Short-term upper resistance level: 35000/36000 Short-term lower support level: 33000/32000

Ethereum (ETH): The trend follows Bitcoin, but it is relatively strong in the short term. Even if it is dragged down by Bitcoin, Ethereum still maintains a bullish trend and dominates the entire mainstream currency. It once broke through the $1,400 mark overnight and reached a maximum of $1,436. Unfortunately, it did not set a new high. On the contrary, it fell back under pressure and approached the $1,300 mark. The sharp rise and fall is normal for Ethereum, and the key is how to control the market outlook. In the early trading today, the ether fluctuated and went down. The short-term backtest intends to test the $1,300 mark again. Then this position is the support force to focus on in the Asia-Europe market. A breakout looks towards the $1,400 mark. The ether goes up and down, as long as it does not break below the $1,300 mark, the bulls still have the advantage, and you should not be frightened by the short-term pullback. For today's operation, Mr. Tan still recommends to follow up with a low-many thinking. The skyrocketing the next day, many people took the ride to make a perfect profit, but there were also many people who were holding empty orders at the bottom and chasing long orders at the top. The obvious lock-up made many people in a passive state. Locking pays attention to methods. Once a mistake occurs, it is very likely to form a world lock (no solution). Instead of passively thinking of ways, it is better to actively find Mr. Tan Yukai and obtain a real-time solution.