Is the market experiencing 'violent ups and downs'?
It depends on the time level you are using. In a 30-second timeframe, any bearish candle can make emotions run high because fluctuations are infinitely amplified; whereas in hourly or daily timeframes, the same movement could just be a normal pullback or trend continuation.
The question is not whether the market is volatile, but what perspective you use to view it. In lower levels, emotions run highest, but the direction is most misleading; in higher levels, fluctuations are smallest, but the structure is most genuine. Many people do not lose due to incorrect judgments, but are led by short cycles, losing their rhythm and judgment in dramatic fluctuations.
Prices are continuous, but perception is hierarchical. Trade at which level you are, view the ups and downs at that level.
Evening market analysis:
BTC
Bitcoin's performance today is weak, oscillating around 117000, overall showing a fluctuating upward trend, but gradually pulling back after reaching a phase high point. Currently, the bullish and bearish forces are balanced. However, the daily chart shows that the support level at 117000 was only a false break yesterday, indicating that Bitcoin is still under the control of the major players. Yesterday's washout and accumulation operation was indeed surprising. In the short term, attention should be paid to the authenticity of the breakthrough at the 117000 support level: if the support holds, it may bounce back above 120000; if it breaks down, it may test around 113700.
ETH
The upward trend of Ethereum remains unchanged, with the current price near the support of the key neckline area (3730-3740). It is facing a directional choice in the short term: if it stabilizes at the neckline, it may continue to rise, targeting 3795-3840; if it breaks the neckline, it may test the 3600 support again, or even lower.
Operational suggestions:
BTC rebounds to around 118300-118800 can be shorted, stop loss at 119300, target 117500-117200, if broken look at 116800-116300, if not broken then go long.
ETH rebounds to around 3790-3810 can be shorted, stop loss at 3840, target 3730-3740, if broken look at 3700-3680, if not broken then go long.
Strategies are for reference only; the market fluctuates greatly, so risk control is necessary, and profits should be taken in a timely manner.
