Intraday Market Strategy: Focus on Shorting on Rebound, Keep an Eye on Key Resistance Levels
The new week opens with a rebound at the support level, currently touching the core resistance area around 90500 on the daily chart. Whether this resistance level can be broken becomes a key factor for market direction. Until the breakthrough occurs, the overall bearish trend remains unchanged, and the intraday operation centers on shorting during rebounds.
From a market logic perspective, this rebound is a technical correction after reaching the support level, not a signal for trend reversal. Additionally, with the upcoming interest rate hike in Japan, the news continues to exert pressure on the market, further strengthening bearish expectations. Two major resistance zones need to be closely monitored: 90500-91500. As long as the rebound fails to effectively break through this range, a continued bearish downtrend is anticipated.
In terms of operational suggestions, when the rebound reaches the 90500-91500 range, one can consider positioning short orders, with strict stop-loss set above 91500 to guard against breakthrough risks. Holders of short positions need to closely track the breakthrough situation of the resistance level. If the resistance level is not broken, they can continue to hold, while sequentially monitoring multiple support levels below: 87500, 86300, 84000, and taking profit in batches based on the strength of support.
There is no urgency to enter long positions; it's advisable to wait for the market to pull back to around 80000, gradually positioning based on the effectiveness of support, to avoid getting trapped by premature entry.
Overall, the intraday market is still dominated by bearish sentiment. A rebound presents an opportunity for shorting, with a focus on monitoring the breakthrough situation of the 90500-91500 resistance range, while being cautious of news fluctuations before the interest rate hike. Operations should strictly control position sizes and stop-losses, responding rationally to market changes. $BTC
The new week opens with a rebound at the support level, currently touching the core resistance area around 90500 on the daily chart. Whether this resistance level can be broken becomes a key factor for market direction. Until the breakthrough occurs, the overall bearish trend remains unchanged, and the intraday operation centers on shorting during rebounds.
From a market logic perspective, this rebound is a technical correction after reaching the support level, not a signal for trend reversal. Additionally, with the upcoming interest rate hike in Japan, the news continues to exert pressure on the market, further strengthening bearish expectations. Two major resistance zones need to be closely monitored: 90500-91500. As long as the rebound fails to effectively break through this range, a continued bearish downtrend is anticipated.
In terms of operational suggestions, when the rebound reaches the 90500-91500 range, one can consider positioning short orders, with strict stop-loss set above 91500 to guard against breakthrough risks. Holders of short positions need to closely track the breakthrough situation of the resistance level. If the resistance level is not broken, they can continue to hold, while sequentially monitoring multiple support levels below: 87500, 86300, 84000, and taking profit in batches based on the strength of support.
There is no urgency to enter long positions; it's advisable to wait for the market to pull back to around 80000, gradually positioning based on the effectiveness of support, to avoid getting trapped by premature entry.
Overall, the intraday market is still dominated by bearish sentiment. A rebound presents an opportunity for shorting, with a focus on monitoring the breakthrough situation of the 90500-91500 resistance range, while being cautious of news fluctuations before the interest rate hike. Operations should strictly control position sizes and stop-losses, responding rationally to market changes. $BTC
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