Bitcoin has plunged as expected, falling to a low of 105100, and is currently rebounding from an oversold position to around 107000. Yesterday I publicly posted, reminding that Bitcoin was slightly bearish in the short term, closely monitoring the 400-point range of 105.8-106.2. Those who took long positions are waiting at the 105668-104688 position, and the current bottom-fishing position has made a huge profit of 170%.
BTC
Bitcoin's bottom-fishing long position has gained nearly 2000 points. The short-term rebound strength is strong, and attention should be paid to the performance of 107000 VWAP. If it encounters resistance and falls back, bears can look forward to it; if it breaks through, watch 107600 VWAP. It is suggested to set a breakeven stop loss or take profits in batches for long positions.
This round of rise started from 98115, with 108700 as the peak of the stage, and the current decline is a normal pullback. Support levels below are 104700 and 103100, with the core support at 103100; if it does not break, there are still opportunities for an upward movement after the pullback.
Intraday rebound to 107300 and 107500 can participate in short positions, continue to hold short positions, and can add to positions on the rebound. Before the downtrend line is broken, bears need not worry.
ETH
Ethereum continues to rebound at a small level, with the upper target near 2520. If it fails to break through, it is recommended to take profits in batches for long positions. For short positions, pay attention to 2470 and 2520, with targets looking down at 2380, 2320, and 2200; medium-term shorts can look at 2100.
Ethereum has broken below the key support levels of 2430 and 2380, opening up space below. 2520 is a watershed for long and short positions; before it is broken, bears are dominant. The daily candlestick is under pressure from the middle track, and the 4-hour line frequently breaks the lower track; rebound is a short opportunity, and bottom-fishing requires caution!
SOL
Yesterday I mentioned SOL in the internal group as well; after the bad news is exhausted, it will pull back. Pay attention to the 150 position for SOL's rebound today. Only if it stabilizes above this position can this 4-hour level pullback be considered over, and the market will continue to rise. Pay attention to the resistance levels around 154.7-158.6-161.6!
Altcoins
You can see that the trend of Dogecoin is exactly the same as that of Tesla. As the external fundamentals change, the market that withdraws funds is like a deflated balloon; without support, the price naturally falls. This is also a temporary change in fundamentals. As of now, doge, shib, and pepe are really cheap. If Musk comes back strong in the second half of the year, their future performance will certainly not be bad.
On-chain meme coins and CEX altcoins have shown weak performance recently, continuing to decline with the overall market, and liquidity is extremely poor.
The candlesticks drawn by the dealers (like FUN coin) are as neat as a 'weaving machine', which is clearly inducing the taking of positions. Both retail investors are losing in long and short positions, so it is recommended to completely avoid and let the dealers entertain themselves.
In this round of bull market, it is recommended to play in segments. Without liquidity, it is difficult to have a big bull market; a phased small bull is more certain. The current cryptocurrency market is chaotic, and harvesting is everywhere; the dividend period has passed, and opportunities to make money are becoming rarer. Diamond hands have suffered heavy losses, and retail investors need to change strategies and find their own suitable way of operating.