Auntie $ETH $BTC Today's market trend is still a volatile downward trend. From 9 AM to 3 PM in the morning session, the market is mainly horizontal. The market is in a downward channel, and Auntie emphasized yesterday the several positions that the decline will go through. At the hourly level, it will linger around 2600, confirming that the decline and adjustment will go through positions 2650, 2600, 2572, 2530, and 2474, with strong support at the lower level at 2417. The specific data positions have been posted in the previous two posts.
Yesterday around 2610, the calculation and analysis showed a decline of 4.5%. The lowest position in the evening dropped to 2476 before pulling back, which was a very accurate calculated position. The fluctuations in the morning and afternoon sessions were hard to trade, but the evening market was easier to trade with a one-sided downward trend. Congratulations to friends who followed the short positions today for taking profits. Today's market guidance ends here; cashing out is safe, and high-leverage positions should not be held overnight.
A student asked why this point was chosen. Simply put, the position at 2474 is a calculated position (0.236), and it is also the support line of the 15-minute downward channel. Auntie broke 2530, which is the 2474 position.
Daily level, with two consecutive small bearish candles, but even though the pullback fell to 2474, the bulls pulled back to around 2550. The 2550 position is quite critical and will determine the subsequent direction, as the 2550 position is the midpoint of the previous large bullish candle.
The 4-hour line is in a perfect downward channel, oscillating downward, with long upper and lower shadows, overall still primarily downward. Looking at the hourly line, the market information and candlestick patterns still show that downward oscillation is the main trend.
The hourly level pullback will not change the overall downward trend, so trading should primarily focus on high shorts within the downward channel, with low longs as a supplement. It is even not recommended to engage in low longs to seize minute-level rebound trades.
15-minute candlestick chart, a classic flag pattern, in a downward channel, looking for trading entry strategies, high shorts and low longs, entering short positions at the upper edge of the channel, taking profit at the lower edge of the channel, or at the bottom of the previous range candlestick, not excluding the possibility of a significant drop, with strong support around 2417.
