Hello everyone, I am Dashan. I focus solely on the trends of mainstream cryptocurrencies, providing daily cycle analysis. In the crypto space, when some people are laughing, others will be crying; I hope everyone is among the former! To my fans and friends, I also wish you all achieve your goals in the crypto world!
Bitcoin made another V-shaped reversal yesterday to harvest profits, with nearly six thousand points of space up and down. Many new investors who do not control their positions well will basically say goodbye. However, if you broaden your perspective slightly, you will find that this key support level on the four-hour chart has actually not broken down. We specifically reminded in yesterday's article that if the daily chart level is broken, the subsequent movement could be very unfavorable. However, yesterday we saw that after a significant bearish drop on the daily chart, it closed with a significant bullish candle, even completing a piercing pattern. This bullish candle closed above more than half of the previous bearish candle, which is very favorable. From this perspective, it seems that Bitcoin is unlikely to drop again in the short term, and this probability is becoming lower. Given the recent price movements, I still advise everyone to manage their positions carefully. Do not increase your trading risks.
Now looking at Ethereum, the current situation is still in a wide range of consolidation. After testing this key support level, it completed a rebound action, which I had already marked for you earlier. Currently, Ethereum continues to enter a consolidation phase, with prices reaching the middle of the range. At this point, we need to observe; on a larger scale, there is still room for a rebound. After breaking through from the bottom and adjusting, we should continue to look bullish.
Playing in the crypto space is essentially a battle between retail investors and whales. If you lack cutting-edge news and first-hand information, you can only be taken advantage of!
The article is time-sensitive, and the market changes in real-time; specifics should be based on actual transactions. The above suggestions are for reference only!
Investment carries risks; proceed with caution when entering the market.#BTC #ETH $BTC $ETH
