Happy weekend, brothers! Saturday has finally calmed down, and the market makers are starting to rest. We retail investors need to rest too. This week’s surge has led to countless short positions being liquidated or held. The shorts are basically cleared out, so don’t FOMO too much now. If Bitcoin rises by just over 5 points, it will reach the previous high. Personally, I feel the risk outweighs the profit, and there is no certainty of a rate cut next month. A rate cut hasn't arrived yet, and there will definitely be a pullback in between. Just be patient and wait.
As long as Bitcoin does not pull back and continues to consolidate at the top, some altcoins will catch up. However, if Bitcoin does pull back, those who enjoy trading altcoins should see who can react quickly. Therefore, after making profits, it's better to exit in batches during the upward move rather than seeing profits retract during a downward move. This way, your profits are genuinely reduced!
This wave of increase is mainly driven by positive news that has spurred FOMO in the market. I can't chase it. The weekly chart has shown five consecutive bullish candles. Those who like to chase can wait for a pullback to enter. Even a small pullback is less risky than chasing during an upward move. Missing out won't result in losses, but making the wrong move will lead to real losses!
Last night's live stream mentioned that a consolidation at the top is expected over the weekend. So whether it goes up or down depends on the consolidation zone's upper and lower boundaries. There’s no need to guess the market; make sure your stop-losses are set properly. If you can predict the market maker's intentions, then they wouldn't be market makers.
Night market analysis:
$BTC Bitcoin is still consolidating at the top level on the 4-hour chart, and it has also started consolidating on the 1-2 hour chart, indicating a lack of liquidity and trading volume. Today, pay attention to the upper boundary of the consolidation zone at 104365 and the lower boundary at 102360. As long as it does not break below the lower boundary of the consolidation zone, there will still be a rebound on the smaller time frames. Therefore, watch the previous high at 104365; if it breaks above, then look for the levels around 105395-106400-107255!
If today it breaks below the lower boundary of the consolidation zone at 102360, then the market will head down, leading to a pullback on the 4-hour level. Continue to watch for support levels around 100950-99200-97730!
$ETH Ethereum is currently consolidating at the top level on the 4-hour chart. Today, pay attention to the upper boundary of the consolidation zone at 2389 and the lower boundary at 2270. As long as it does not break below the lower boundary of the consolidation zone, there will still be a rebound on the smaller time frames. Therefore, watch the upper boundary at 2389; if it breaks above, then look for the levels around 2436-2490-2550!
If today it breaks below the lower boundary of the consolidation zone at 2270, then the market will head down, leading to a pullback on the 4-hour level. Continue to watch for support levels around 2203-2156-2112!
$BNB BNB showed some strength last night, pulling directly to the major resistance level near 680 before starting a pullback on the smaller time frames. Today, pay attention to the level at 654.3. As long as the 1-hour level stays above this position, the bullish trend remains, and it will continue to rise. Watch for resistance levels around 671-680-684.5!
If today the 1-hour close falls below the level of 654.3, then the 1-hour level will start to pull back. Watch for support levels around 647-637.8-630.3!
SOL surged again last night but did not break the previous high before coming back down. Today, pay attention to the level at 171.5. Only when it stays above this position will the small-level pullback be considered over, allowing the market to continue upward. Watch for resistance levels around 176-180.4-186.8!
If today it cannot stay above the level of 171.5, it indicates that the 1-2 hour level needs to continue pulling back. Watch for support levels around 167.5-164.3-161.3!
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