Good afternoon, brothers. Right now, the market is giving me a headache, with daily fluctuations up and down by several hundred points, making it hard to have any desire to trade. To simply state the current support positions for long and short, please refer to the following.

Currently, if the four-hour level does not fall below 104500-600, then the market is likely to see a bounce at the hourly level. This bounce still faces resistance at the upper levels of 105500/106000. The price has already surged to around 105500, the first resistance position. If the market can break through 106000, then it can complete the transition and give the bulls an opportunity to challenge 106700-107600.

Therefore, shorting in the range of 105500-106000 is still a viable option, as mentioned in the morning and afternoon sessions. If the four-hour level breaks again below 104500, then we will continue to look for support targets at 103500/102700/101200. For long positions, it’s still advisable to try around the second and third support levels as usual.

Regarding the altcoin side, many fans like to trade it, and I personally do less long trading, so just refer to it. In the four-hour level, the price has reached around 2540, about to touch the 2550 resistance. As long as the four-hour closing breaks this position, the bullish volume will continue to be suppressed.

If the subsequent second pullback stabilizes at 2510, then there is still a chance for the market to challenge again at 2550/2590. If it can break through 2590, then we can say that the transition is complete, and the subsequent challenge to 2620-2650 should not be a big issue.

So, I have always suggested that everyone short around 2550, with a defensive position of not breaking 2590. If the four-hour level breaks again below 2510, then we will continue to look for support targets at 2480/2430/2380. For long positions, it’s still safer to watch for stabilization around the second and third support levels.