The morning market continued the rebound from the early morning bottom, with long positions increasing from around 89,800 up to around 91,700, then pulling back to oscillate near 91,000. The daily chart shows reduced volume turning into increased volume, with two consecutive bullish candles. On the four-hour chart, long positions are gradually approaching the upper band. Watch for resistance near 92,000 above, and long positions on the hourly chart show decreasing volume. The intraday strategy should focus on buying on dips; buy on pullbacks.
Monday midday:
Go long around 90,600-90,300, with a target of 92,000-92,300. Stop loss at 89,500.
Go long around 3,100-3,080, with a target of 3,160-3,180. Stop loss at 3,050.
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The morning market continued the rebound from the early morning bottom, with long positions increasing from around 89,800 up to around 91,700, then pulling back to oscillate near 91,000. The daily chart shows reduced volume turning into increased volume, with two consecutive bullish candles. On the four-hour chart, long positions are gradually approaching the upper band. Watch for resistance near 92,000 above, and long positions on the hourly chart show decreasing volume. The intraday strategy should focus on buying on dips; buy on pullbacks.
Monday midday:
Go long around 90,600-90,300, with a target of 92,000-92,300. Stop loss at 89,500.
Go long around 3,100-3,080, with a target of 3,160-3,180. Stop loss at 3,050.