It hasn't been updated for many days, I've been out for a few days without opening up, and now I'm back to talk about the market.
As you can see from the lines I drew in my previous posts, Bitcoin has followed an extended diffusion pattern, so it is undoubtedly going to break the lower support.
The previous high short position at 109 has reached the target of 104000 for profit-taking, with a low around 1033. Therefore, Bitcoin is receiving support at 103, resulting in a rebound, and forming a secondary extended diffusion pattern. What does this indicate? It continues the previous trend, and combined with volume and EMA, the four-hour EMA30 is suppressing it, indicating a stronger bearish pattern. So if you want to short now, make sure to set a stop-loss, targeting 101000.
Ethereum is currently forming a triangular convergence wedge, attempting to break through 2734, reaching a high of 2788 before dropping due to selling pressure. So this was a false breakout, and then it broke the triangular convergence range, moving down to the previous low support near 2470 before rebounding. Now the highest rebound has hit the lower resistance of the triangular convergence at 2649, indicating it tried to return to the range but failed. Then look at the green area in the chart, where the original support has turned into resistance, so set a stop-loss for high shorts.
Some people ask about volume and price; actually, you can't see much because it is definitely controlled, and I won't repeat that.
Then I will place a long order later; currently, this is an analysis of the market and trend. I will call my brothers to enter the market when bullish signals appear.
Just for reference, no need to criticize if you don’t like it, looking forward to good guidance and learning.
