Bitcoin plays a heartbeat, Auntie takes a breath, don't be greedy in a volatile market; taking profits is the truth!
What's going on with Bitcoin?
Today's Drama: Today Bitcoin took a super roller coaster, bouncing thousands of dollars up and down, really exciting! Now, the price is slowly sliding down from the high, feeling like there's a 'ceiling' (dynamic resistance) pressing down on it.
Shence's Viewpoint: Although that wave of rise in the morning was quite fierce and looks intimidating, the bears (those wanting a drop) are obviously more assertive. I see this momentum, and it's likely to explore downwards further, to touch the 'floor' (support level) around 116000 USD.
Key Point: If this 'floor' at 116000 is solid enough to hold, then the price may bounce up a bit (technical rebound). BUT! Don't celebrate too early; the rebound space is also likely limited, like a ball hitting a wall, not bouncing high. The earlier 'bottom divergence' signal (like braking marks) indicates that someone is catching here, but the overall market is still weak and sluggish.
For example: It's like in a boxing ring, the bulls (those wanting a rise) suddenly throw a heavy punch (early morning surge), but the bears are stronger and immediately push the bulls to the ropes (resistance suppression), now the bulls are gasping in the corner (stagnation downward), and may get hit again (testing the lower support).
What about Auntie?
Today's Drama: Ethereum has been climbing overall recently, but when it reaches around 3826 USD, this 'high-pressure line' (resistance level) it seems to be unable to move anymore, it's stuck, unable to rise.
Old Gun's Viewpoint: Short-term risks have increased! Why? Two dangerous signals: ① Double top pattern (looks like an M shape, indicating a potential peak); ② Top divergence signal (braking marks on the way up). Once these two appear, the risk of falling increases.
Key Point: The only lifeline is 3787 USD! If the price can firmly hold at 3787 USD without falling below this step, there is still hope to challenge the higher 'peak' of 3820 USD. The 'safety cushion' (support level) below is at 3750 USD.
For example: It's like climbing a mountain, Ethereum is huffing and puffing to a small platform close to the peak (resistance at 3820), exhausted (stagnation), and there are two warning signs (double top + top divergence). Now it either rests to recharge (holding at 3787) to continue climbing, or if it falters, it will roll down the slope (risk of falling).
Shence's operational advice:
Bitcoin Operations:
Want to buy the dip: Wait for it to pull back to around 118000 - 118300 USD, feel stable, then get in. Remember! You must set a stop-loss! Place it at 117400 USD, if the 'floor' collapses, run quickly.
How much to earn? First target 119300 - 119600 USD. If it has enough momentum to break this level, then look at 119900 - 120300 USD.
Want to sell at the peak: If the price reaches around 119600 USD or higher at 120300 USD and obviously cannot push higher, then consider going short.
Auntie's Operations:
Want to buy the dip: Wait for it to pull back to around 3775 - 3765 USD, feel like it can't fall anymore, then consider buying. You must set a stop-loss! Place it at 3730 USD; if it breaks, admit defeat.
How much to earn? First target 3820 - 3840 USD. If it can strongly break through 3820, then look at 3885 USD.
Want to sell at the peak: If the price reaches the key resistance area of 3820 - 3840 USD and obviously lacks upward momentum (e.g., showing long upper shadows, insufficient volume), then consider going short (strictly set stop-loss!).
Shence's heartfelt advice:
Brothers, this market is just a 'Monkey Market', it looks lively, but making money isn't easy! The points provided by Shence are critical technical positions, but once market sentiment changes, all techniques are useless. Remember our golden rule: 'Don't be greedy in a volatile market!' If you make money, you should run; stop-loss must be decisive! Don't think about eating the whole fish; getting a piece is good enough. Just yesterday, a fan made 800 USD from a long position but didn't exit, greedily waiting for 120000, only to be slapped back to the breakeven line, wasted effort! Control your position, set good stop-losses, and staying alive gives you a chance!
Tonight's key support/resistance struggle, do you see the bulls making a desperate comeback, or the bears continuing to crush? Let's chat in the comments, are you preparing to 'buy the dip and sell the peak' as planned, or watching from a distance? Follow Shence, and let's maintain the steering wheel amidst the storm in the crypto world!
If you don't know what an effective breakout is, you can come to find Shence, who will guide you step by step. Are you stuck? Don’t know when to enter the market? As always, if you feel lost and helpless, comment on my profile. I need fans, you need references.
