Review of history to Determine the appropriate short position
It's not hard to find a repeat of the bear market that started in mid-november:
1. The breakout of EMA120 volume is the beginning of a bear market
2. There are more top deviation structures (especially in the 1h figure)
3.MACD runs below the central axis most of the time
Compared to the current market:
1. The breakthrough of EMA120 has been completed.
2.1 there are two top deviation structures in class h.
Conclusion: although the current just completed a large triangle breakthrough, the market chose to go down.There is no more to look at, but it is not hard to see that this is only the beginning of a similar trend.If there are more top deviation structures in later stages, there is reason to believe that history is about to repeat itself.If considering a series of good news such as production reduction next year, it is reasonable to assume that this time's decline will be more urgent than last year's, and there is not much time left compared with last year (for this logic, please refer to the previous "thinking on the second half of BTC", see my Chinese article).
1. The breakout of EMA120 volume is the beginning of a bear market
2. There are more top deviation structures (especially in the 1h figure)
3.MACD runs below the central axis most of the time
Compared to the current market:
1. The breakthrough of EMA120 has been completed.
2.1 there are two top deviation structures in class h.
Conclusion: although the current just completed a large triangle breakthrough, the market chose to go down.There is no more to look at, but it is not hard to see that this is only the beginning of a similar trend.If there are more top deviation structures in later stages, there is reason to believe that history is about to repeat itself.If considering a series of good news such as production reduction next year, it is reasonable to assume that this time's decline will be more urgent than last year's, and there is not much time left compared with last year (for this logic, please refer to the previous "thinking on the second half of BTC", see my Chinese article).