Hello everyone, welcome to Wanqian Talks Trends. Focusing solely on the trends of mainstream coins. The study of left and right trading modes, and the understanding of medium-long-term and short-term fluctuations will be continuously updated. Thank you all for your attention. In the cryptocurrency market, when some people are laughing, others will be crying. I hope everyone is in the former group!
$BTC The cryptocurrency market has been very difficult to trade recently. Looking at Bitcoin, the recent four-hour level has turned the previous support-resistance level into a breakthrough with a bullish candle, right? Based on this movement, it is likely to continue rising, having achieved an effective breakthrough. However, the market is relatively small, and market sentiment fluctuates greatly, especially with the herd mentality of retail investors, who look one moment towards movement and the next towards stagnation, causing such situations. Looking at the smaller cycles, there are quickly three bearish candles dropping down, but after testing the key support level, there is a rebound. However, a long lower shadow appears, and if your stop-loss is not set large enough, it will quickly shoot up after getting stopped out. Therefore, recently, those with insufficient fundamentals and weak technical skills can easily get slapped back and forth here. So, from the current perspective, it is very straightforward. The small-level highs and lows of Bitcoin have already been established; in the short term, you can just consider it fluctuating within this range.
$ETH Now looking at Ethereum, which is also influenced by Bitcoin, the entire cryptocurrency market is like this, spiking up and then dropping down. Recently, Ethereum is still perceived to be fluctuating randomly here. Now, it is a very unstable sentiment; during such times, your best choice is to patiently wait and not rush in to guess the ups and downs. If you can avoid it, try not to engage.
In the cryptocurrency market, it's a contest between retail investors and whales. If you don't have cutting-edge news or first-hand information, your starting line is not equal. All the efforts aim to help more people learn trading and empower them!
The article is time-sensitive; the market changes rapidly, and real trades take precedence. The above suggestions are for reference only!
Investing has risks; proceed with caution.
