The market changes quickly, so we must keep a close eye on it! Don’t think the market is too mysterious; in simple terms, it’s a game of human psychology. The price fluctuations are the results of real money being put on the line by everyone. There is never a standard answer to what value is. Technical analysis is easy to learn but hard to master; understanding the concept doesn’t necessarily mean you can teach it well.
Yesterday, the market was generally sluggish, and we warned to be cautious of sudden market shifts! Bitcoin plummeted in the early hours, and this morning it continued to fall until it stabilized around 102600. Although we missed the midnight drop, our long positions also hit the stop-loss. However, in the morning, we immediately adjusted our strategy and shorted along with the trend, setting up mid-term short positions around 106000 and 2650. Bitcoin directly yielded a profit of 3200 points, while Ethereum also gained over 100 points! For those who keep up with the rhythm, this small loss is nothing at all!
Looking at the daily chart, we see three consecutive bearish candles, and today’s morning session also closed bearish. Although the downward momentum has slowed, it is still oscillating at a low level. From the four-hour chart, the Bollinger Bands are beginning to narrow. Previously, there was a continuous bearish trend, dropping from 108000 to 102600, and now we are entering a phase of oscillation and correction. This type of movement is likely a pullback during an uptrend, not necessarily a trend reversal, so let’s first look for a rebound!
In terms of operations, go long on Bitcoin around 103500-103000, targeting 105500; for Ethereum, go long around 2465-2440, targeting 2600. Don’t hesitate, pay attention quickly!
Early evangelists in the crypto space, like, comment, and let me see you! Share your thoughts on the bull market, strategies for accumulating coins, rolling strategies, and choosing hundredfold coins