Bitcoin has plummeted nearly 6000 points, with continued small-level adjustments. The price has already dropped below the first support line, with a minimum drop to 116250 USD. Sweet Dream clearly indicated to short yesterday, and Bitcoin's fish head has been caught, enjoying a 5000-point gain with a profit of 546%.
The liquidation zone for Bitcoin is between 115k and 113.8k. The long positions have not yet decreased, indicating that short-term bulls have not surrendered. The small-level structure leans towards bears, but the large-level still favors bulls, so I expect a quick drop followed by a recovery.
[115000-116000]: Effective support range, a rebound can likely start here. [Around 113300]: A position that bulls must defend. If it is completely taken out by bears, this bullish trend will completely end. [120600-121400]: The maximum position range of the rebound. The middle position can be used for oscillation and rebound, both high shorts and low longs can be operated, with proper stop-loss. If you don't know how to trade, just follow Sweet Dream's trades.
Are ancient whales clearing out Bitcoin? This afternoon, ancient whales continued to sell, and have now transferred 30,000 Bitcoins to Galaxy Digital. Is this a clearance?
Yesterday, when Bitcoin broke through 120,000 USD, there was further divergence in volume and price, indicating a further exhaustion of buying power. Moreover, Bitcoin has reached a critical position at the midpoint of the upward channel. The appearance of large-scale selling by ancient whales at this position could have a huge impact on the market, likely leading to the end of the current upward trend.
Recently, Sweet Dream has been emphasizing that Ethereum's trend is relatively strong. This morning, after Ethereum broke the range with a spike, the trend still looks healthy, with the pullback being more influenced by BTC. As long as it doesn't break the range, I will maintain a bullish outlook.
The current ETH/BTC exchange rate shows a slight breakout in a small range, and further development may lead to a one-sided strong exchange rate. ETH has been relatively stronger than BTC, consistently around the 3000 price level, but the upper pressure at 3030 remains a strong resistance. The accumulation of short positions has prevented the price from falling significantly. It is currently operating within a 4-hour channel and has already started to show decreased volume. Unless there is a breakthrough at 3030, it is likely to come down.
Many altcoins are showing signs of stopping the decline on the 1-hour level, but the rebound is unlikely to be strong, as Bitcoin remains weak at smaller levels, mainly due to ancient whales continuously transferring out, fearing a direct crash. Therefore, let's focus on whether Bitcoin can stabilize for now, primarily looking for short opportunities on rebounds. For altcoins that surge, look for shorting opportunities, especially with favorable news, such as being listed on South Korean exchanges and announcing buyback news. Aggressive shorts, as project parties and market manipulators are here to make money, not for charity, ultimately they will cash out to zero!
SOL: Recently, it has been pumped and is feeling overwhelmed, with average gains. Currently, I am still observing for opportunities to re-enter. SOL can be held as a long-term investment, but if held as a short-term coin, it is recommended to hold coins from its ecosystem. The daily line needs to break above 168 for a good rise, with support at 152.
AAVE: AAVE has been surging, the market maker is very strategic, and there are signs of jump market making!
APT: This is a token I am paying close attention to, showing signs of accumulation. Jump has confirmed its entry!
