💯 7.6 Daily Market Commentary. 💯
$BTC Commentary:
The weekend market is the most boring day of the week, as well as the day with the lowest volatility. Just hold on for one more day and tomorrow will be better. If it’s really boring, go out on the street and talk to a stranger; after all, he doesn’t know you and you don’t know him, just say what you want and move on.
Bitcoin broke through 108210 with volume, closing above the 108210 hourly level, look to go long on the right side, stop loss on a break.
108062 broke down with volume and the pullback couldn't recover, look to go short on the right side, stop loss on recovery. Pay attention to changes in volume and manage your stop loss well.
At 107140, a false breakdown occurred; recover with a light long position. Stop loss at the false breakdown low or if it drops below 106315; don’t hold if it doesn’t recover.
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Bitcoin’s hourly level has broken and stabilized at 108478, looking up at 109085-109816; if it can’t go up, it’s useless.
When shorting Bitcoin, watch for a 2b false breakout at 109085, take a light short position, and stop loss if it stabilizes above 109798.
Conservative players should wait: long at 105549, stop loss if it drops below 104662.
Bitcoin’s 4-hour level has reached the end of the triangular convergence pattern, and yesterday it once again challenged the trendline resistance upwards but failed. Bitcoin is currently compressed to the extreme and is about to break out in a direction, so be patient.
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Upper resistance: 108485-109089-109800
Lower support: 107823-107209-106332
On the 4-hour level, if 107227 breaks down, look down at 106369-105240; price remains above 107227, bulls are in control. If it breaks below 107227, bears will gain strength.
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$ETH Strategy:
Second Bitcoin broke through 2520 with volume, look to go long on the right side, stop loss on recovery.
2505 broke down with volume, look to go short on the right side, manage your stop loss well.
Pullback to 2461 to confirm support is valid, add a long position, stop loss if it breaks below 2431.
Second Bitcoin at the hourly level, if it stabilizes at 2523, look upwards at 2554-2584; if it can’t stabilize above 2523, there’s no upward potential.
Watch for a short position at 2584 above; stop loss at 2608 if it breaks.
Left side orders: long at 2410, stop loss if it breaks below 2379.
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Upper resistance: 2522-2554-2584
Lower support: 2500-2460-2420
On the 4-hour level, if 2461 breaks down, look down at 2410-2369; as long as it doesn’t break below 2410, the second Bitcoin won’t drop too deep.
The second Bitcoin hourly level is moving in a range; just trade in the direction it breaks out. Wishing everyone a happy weekend! Meeting adjourned.