Understanding trends is the core of investing, the focus of investment, and also the difficulty of investing. Without years of investment insights and extensive reading and thinking, it is difficult to understand the value of each trend wave. How can one understand each trend wave? By making appropriate and reasonable plans for each investment, besides diligent reading and spending a lot of time to gain insights, there is no better way. In short, a significant amount of time cost is unavoidable. Of course, smart people can learn from mentors, using financial costs to save time costs, and thinking on the shoulders of predecessors. This week's market can only be said to have once again welcomed a peak in the cryptocurrency circle. Bitcoin has broken new highs, while Ether has experienced a crazy rebound. Moreover, this week is also a week of news, with each wave of news having a huge impact on the cryptocurrency market. After stabilizing around 118000 at the beginning of the week, Bitcoin directly broke through a new high, reaching around 123300 at midday on Monday. Ether has stabilized above the 3000 mark, with a one-sided upward movement of over 700 points, directly igniting the cryptocurrency market. This wave of unilateral movement has successfully attracted many retail investors to enter Ether.
The correct investment philosophy is not to put all your eggs in one basket. As a spot trader, I have a few words to share with you. Currently, the Bitcoin price is around 118000. You must always understand one thing: when you hear that a bull market is coming, it means the market has already completed its movement to attract such a loud call. At this point, if you rashly enter the market, you will inevitably become fodder for the market, as you have already missed the lowest risk entry opportunity. For friends holding Bitcoin spot at low levels, it's time to consider reducing positions to take profits. Every new high will bring a certain degree of range adjustment, and you can fully utilize the profits you have already locked in to grasp more opportunities in two-way trading of contracts.
Bitcoin is currently moving within a wedge-shaped fluctuation in a small cycle, with the upper trend pressure acting as a short-term resistance. It has basically maintained a descending pressure since the historical highs of Bitcoin, so this trend line should have significant top pressure. When the price rises to this trend support, it will not immediately break through effectively. Therefore, this resistance price is an excellent entry point for short positions! Currently, Bitcoin still maintains a certain upward trend, and precisely because of the current good momentum, the K-line has the opportunity to touch the upper trend line resistance price, providing an excellent opportunity for a short operation!
Bitcoin swing layout: short near 119500, target 110000
Ether swing strategy: short near 3750, target 3300
