Bitcoin fills the gap, rushes up and falls back, what will happen next?

Bitcoin bottomed out and rebounded. After successfully covering the 9450 gap, it reached a maximum of around 9580 and is currently oscillating around 9480. Judging from yesterday's test position, it is also the position of Fibonacci 23.6% near the annual line.

Yesterday, the market fluctuated greatly, from the rapid fall below the trend line to the night's reverse withdrawal, all in one go. This year's market often has this kind of "big ups and downs" trend. The popularity of the contract market will amplify the ups and downs and speed up the transformation of the market rhythm.

From the perspective of the daily line, the price has returned to the inside of the rising wedge again, but it has run to the end, and choosing the direction is a must. Therefore, everyone is cautious to chase the rise. After all, the pressure of 9800 is right in front of us, and it is an unwise choice to chase the rise.

The recent market, "always rises during the day and falls at night; or falls at night and rises during the day", the conversion can be completed within a day, and it is even more necessary for short-term traders to keep an eye on the market and take profits and stop losses in time.

From the perspective of the trend, the top 9800 is the pressure, and the bottom 9300 is the support. The market may return to the volatile market again. Waiting for the next choice of direction, and we also need to wait for the next opportunity to come.

Now that the market continues to fluctuate, the risk of a temporary breakthrough is relatively high. Everyone should still operate with box thinking, do a good job of selling high and buying low, and don't be greedy.

From the hourly chart, it is clearer that Bitcoin is basically the same as last time. When it encounters the pressure of 9,500, it chooses to pull back, while the support below is still 9,300 US dollars, and it is more likely to backtest the support. The upper pressure is at $9,800, which is also on the upper edge of the rising wedge.

In terms of operation, we still operate with box thinking, and it is advisable to make bands in the range of 9300-9800 US dollars. But at the same time, we must control the position. I recommend reducing the position at a high level.

From the picture, we can see that ETH is oscillating around 235. This position is a relatively critical position. It has been oscillating for 2 weeks at the top, and it has never broken through the previous high point. The "head" effect is more obvious. At the position of the "neckline", if it cannot be pulled back into the box, it is more likely to be called back. The specific operating range is 220-240 US dollars, and it is feasible to do some band operations.

Judging from the recent market situation, the style of the market switches relatively quickly, and the spot is mainly controlled by the contract. This kind of market has three characteristics. The first is that the market is mostly volatile. When it rises, the market makers are repeatedly doing swings, and the idea of ​​harvesting retail investors is very obvious; secondly, the market switching speed is very fast, it may rise in the morning, and it will fall back in the evening; if it falls in the evening, it may rise back in the morning, which is a test of investors’ patience. and guts; the third is, "can't go up, can't go down", the shock has been more than a month.

Therefore, the investment advice for everyone is to reduce positions at high positions and buy at low positions. The trend is likely to continue to fluctuate. The top 9800 is strong pressure, and the bottom 9300 is also strong support. Look for the position and do the swing in the middle.