After the Bitcoin market fluctuates, how to choose the direction

7 Mar 2023

Bitcoin, judging from the daily level, the current price as a whole remains within the range, but there are obvious signs of decline in the price operation, and it tries to break below 22,000 US dollars, forming a long shadow line.In terms of technical indicators, the opening of the Bollinger band is downward, while the short-term moving average is suppressed downward, and the MACD is downward, and the short-term bears have the advantage; however, Bitcoin can recover to above 22,000 after breaking below 22,000, indicating that the current market sentiment is not overly bearish. In the fluctuation of the K-line, beware of the possibility of retracement of the K-line to induce short-selling.In addition, there will be greater news stimulus on Wednesday, and we need to pay attention to it.
https://www.tradingview.com/x/To0yzUyY/

Judging from the 4-hour chart, the currency price is still in a state of shock and sideways trading, and the sudden short-term decline may be to wash out unwavering retail investors, but also for the arrival of a big news market brewing tomorrow, the box support below and the support of the 22,000 integer mark are still valid, so you can still consider going long at a low level in terms of operation.
https://www.tradingview.com/x/uOT8RBqT/

Operation idea: Consider going long in the low position nearETHUSD 21800, and the first target position is 22600.

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7 Mar 2023

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Go long near 21800