Eagle Tribe Bitcoin Market Analysis on March 10, 2021

Eagle Tribe Bitcoin market analysis on March 10, 2021:

(The price is based on Binance spot. The golden cross and dead cross in the text refer to the intersection of the moving average EMA7 and EMA30, and the up and down flips refer to the MACD column above and below the 0 axis)

Futures traders (including myself) have a hobby, which is to touch the top. I also touched it twice yesterday and was educated twice. Touching the top is a kind of transaction, which belongs to the left side transaction. It is essentially fine, and I don’t object to it, because when you judge that the indicators are all bearish, you can try to arrange short orders (same for long orders). My main reminder is that when touching the top and bottom, you must abide by the principle of low leverage, and wait until the trend is confirmed and the right side is reached before adding leverage appropriately.

Moving average analysis:

From a macro perspective, the largest channel here is at 12H. If it does not fall below this level, the macro trend will not change. The middle channel is at 2H. Whenever there is a dead cross in this channel, it will not affect the macro rise. Therefore, the struggle point between long and short is here, and the boundary between long and short is also here.

At the small level, 30m has formed a death cross, so there are two situations. If 30m forms a golden cross first, it means that a new rise is about to begin, and today's decline is just a small adjustment. If it leads to a 1H death cross, then the adjustment will continue, and if it leads to a 2H death cross, it will be a big adjustment.

MACD Analysis:

At the macro level, the daily MACD has turned up, but the column is very short, proving that the bullish force is limited. At the mid-level, the 2H has turned down, and the 3H has the potential to turn down. The key point is whether it can drive the 3H to turn down. If it turns down, the adjustment time will be longer. Even if it does not fall deeply, it will fluctuate back and forth for a period of time.

On a small level, a 5/10m MACD divergence was formed during the morning decline, so good short-selling opportunities will appear in the process after the 10m level MACD turns up.

Strategy:

Pay attention to the 30m and 1h moving averages to determine the direction, and use the 10/15m MACD to find the appropriate trading position.