Hello everyone, welcome to the trend analysis by Wanqian. We only focus on the trends of mainstream coins. The research on left and right side trading models, as well as the understanding of medium to long-term and short-term fluctuations, will continue to be updated. Thank you all for your attention. In the crypto world, when some people laugh, others will cry. I hope everyone is in the former group!
$BTC Seeing Bitcoin, this descending trend line on the four-hour chart has completed a breakout action. The previous level support and resistance conversion has also completed a breakout. It's very clear that trading plans are very important at this time. Some people have been stopped out, while others are still holding on. Given the current momentum, it's highly likely that there will be an adjustment here. It seems that the previous high point should be able to hold. Therefore, I think it's still worth observing for a stop loss above this high point. As for the larger time frame, I won't say much; the bulls are still in control. If the previous high point is broken, it will basically move up to the next level. I hope all shorts are well-positioned with proper stop-loss measures before making any short-term pullback actions.
$ETH Regarding Ethereum, I emphasized yesterday that the force at the hourly or four-hour level is a standard trend line breakout followed by an adjustment. From the current situation, it is highly likely to continue moving upwards. Therefore, this wave of bulls has been driven by the previous four-hour bullish candle, and your target is very clear, the previous high from four hours ago. But you also need to control your stop-loss; it should at least be below the consolidation area to be acceptable.
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The article is time-sensitive; the market changes rapidly. Real trading should take precedence; the above suggestions are for reference only!
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