Is the market peaking, and is a pullback coming?
Don't worry, the short-term market has already reached a relatively high position. Even if there is a pullback, it is to facilitate a better rise. You should focus on how to seize the next wave of upward opportunities, rather than worrying again whether there will be a big drop this time.
$BTC From a technical perspective, we are currently experiencing a structural pullback, gradually approaching an important 'gap support area.' If the price drops around 3000 points, we are about there. This range happens to also be an important low point range from before. If it rebounds to this position, I would consider setting up long positions on the right side. If the stop loss for the bulls in this area is triggered, it will instead be a starting point for a new round of upward movement. So remember, this pullback is not about blindly being bearish, but about finding the next opportunity to enter the market.
$ETH Many people overlook that Ethereum also has 'gaps' on the CME futures market. These gaps are important traces left by large funds on Wall Street during positioning or exiting. Currently, ETH has two important gap areas to fill, with a pullback range of about 180-230 points. If Ethereum further drops from the current price level, it will touch technical support around 3500u. Moreover, the closer it gets to 4000, the more intense the fluctuations will be. If it's just short-term trading, you can set a good take profit near 4000.
Short-term trading strategy
BTC: Consider long positions after filling the gap, support level 114000-115000
ETH: Two key support points - trend line and gap near 3500
SOL: W-bottom breakout and pullback for entry, target first at 220
Finally, let me say that this round of market rhythm is very fast. The pullback is for a better rise, but there are huge fluctuations and frequent washouts in the process. If you are also paying attention to this round of the market, feel free to join my Binance chat room, official group chat, safe and reliable.
