Hey brothers, let's talk about the market
So last night, after a surge and drop, Bitcoin perfectly reached the take-profit level I posted a few days ago around 107200, with a high of 107100.
After calling for long positions from 101700 for a few days, we finally hit the take-profit point at this moment.
A profit of five thousand dollars is pretty good.
At the same time, I also told the short-sellers to set up ambush positions above; I wonder if anyone managed to get in.
Now let's talk about the current market trend. To determine a reversal, we need to wait for a death cross at the daily EMA level and for the K-line pattern to show multiple bearish K-lines, preferably with a significant bearish K-line, before we can judge the subsequent trend. We cannot just look at today’s daily engulfing pattern and conclude that a downtrend is starting; we must wait for the entire daily movement to close to make a better judgment. I mentioned early on that the volume-price divergence indicates that the main force is highly controlling the market, just to prepare for a subsequent rally, so using divergence reversal in this market has a low accuracy rate.
Looking at this segment of the market, there are no harmonic patterns or reversal patterns appearing; we will simply consider it as an up-and-down fluctuation, working with the manipulation of the market by buying low and selling high.
So brothers, today let’s do a low leverage long position.
Bitcoin: enter at 101980, add at 101200, stop loss at 10700.
Ethereum: enter at 2362, add on a downward move, stop loss at 2312.
If Bitcoin and Ethereum break this range, then this trade can only be regrettably lost, and I will timely update with a new trade. I wish everyone a happy life.
