Today several old fans asked: "Jin Min, Eric Trump just called to go 'all in' on Bitcoin, but why did our hourly chart break below 103000? Are we now pushing against the 104500 resistance, or heading straight down to 100200?" Don’t worry, let’s break down the news and technical aspects.
News:
Eric Trump recently stated in an interview: "The big family, big funds, and Fortune 500 are all scrambling for Bitcoin, and the country is using energy to mine coins; I’m going all in!" Sounds uplifting, right? With big names supporting, it's indeed easy to stir emotions. But we must stay clear-headed; the crypto market is best at 'good news turning into bad news.' Recently, BTC dropped from 110000 to 102000; some funds might have been waiting to cash out after this wave of hype.
Technical analysis:
Focus on the second hourly K-line chart. The current price is stuck at 102185.2, just at the 'key level,' with a drop of 1.09%. The upper level of 104500 is a rebound resistance level; it's not that easy to break through. Although the MACD white and yellow lines are above the 0 axis, they are already heading down, with signs of a death cross emerging! It's like driving; the accelerator hasn't been pressed to the floor yet, but the brake light is already flashing yellow.
Operation suggestion:
Don't chase the high! There are many voices shouting 'all in' now, but the 104500 resistance level trapped a lot of people. If you rush in before a breakout on volume, you're just acting as the 'whale catcher.'
Protect your position at the key level! If you entered at a low position, hold on as long as 102185 doesn't break.
Keep a close eye on the MACD! Once the white and yellow lines form a death cross or the price falls below 102185, cut your losses decisively! Don't believe in 'wait a bit longer'; the cryptocurrency market never negotiates with you when it drops.
At 8 PM tonight, I will be sitting in front of the computer monitoring the market. If a combination signal of 'volume breakout at 104500 + MACD golden cross' appears, I will immediately send a reminder in the village; if it falls below 102185, I will also warn you to avoid risks at the first opportunity!
Instead of betting on what the big shots say, it's better to trust in technical analysis and discipline. If you want to follow me in real-time to avoid pitfalls and catch trends, hit follow, and comment 'stay close to Jin Min' to enter the 'Jin Min Strategy Village'!
