Let's first review our operations over the past half month. The chart is still the old chart. The ETH price chart drawn on October 27th. From the 27th to the final 3055, it completely followed the lines we drew. This is a coincidence. It also indicates that the judgment was correct.
Although our entry was judged, after the interest rate cuts, the good news landed and turned into bad news. The main force will take the opportunity to sell off, lowering the price. They will eat up the liquidity of retail investors below, and then buy low to pull the market, just like last year.
But I still waited for the moment of interest rate cuts to enter the market, to prevent any needles.
Then there was no update for half a month. Just follow up. Ultimately, take profit in the 3200 range.
As for intraday trading, we have done two weeks of altcoin shorts, with a win rate of about 90%. All were highly profitable. These two weeks. There’s no problem keeping up with your position.
So now the view is: $ETH
ETH: Looking at the hourly line. It’s very clear to see. Around 3000, there is a significant rebound. And a standard bottom divergence appears at the second buying position. If you don't understand the theory of trading patterns, you should at least know about W bottoms, right? Isn’t this standard?
This rebound is not only about bottom support and market consensus. There’s also the understanding that the king is bragging. Tax dividends are not giving anyone 2000 dollars. And the potential end of the U.S. government shutdown.
Keep an eye on the end of the U.S. government shutdown, after all, it can’t be shut down forever.
As for the king’s promises, if he really executes them, it would indeed be a small positive, a quick spike is no problem. After all, Americans have money. The market flow will increase. But don’t over-interpret it.
Because do you understand the king's promises? Many are contradictory and often change. It’s common, you can take it as a reference signal, but can't treat it as a signal to go all-in.
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Regarding whether there will be a full rebound, I hold a cautious attitude. Although the 4-hour line has already risen above the zero axis. The daily line is also about to golden cross. There’s no problem going long. Why cautious?
Because you have to look at this level on a monthly basis. Historically, the Christmas period has mostly been bearish. Because American institutions and project parties will sell off and pay salaries for the New Year.
But after all, there is a rebound now. Overall, we are looking bullish.
Intraday thoughts. The price range is oscillating between 3500 and 3700.
You can look for rebound support in the 3500~3550 range. 3700 looks like it will face resistance.
BTC:$BTC
Two charts. Very simple. Anyone can understand, got it?
Figure 1: I used a year's chart. BTC bull market weekly chart. The overall trend channel of the bull market.
As for my view, it's the same as ETH. At the point for going long, there is a rebound formation. But be more cautious.
Because even if a rebound occurs, the scale of BTC is not something that can just return to 120,000 with a single needle. A rebound would also take a month or two to form.
If you want to follow the strategy, add Dogecoin as a friend:
