Hello everyone, welcome to Wanqian Talks Trends. We focus solely on the trends of mainstream coins. We will continue to update our research on left and right side trading models, as well as the understanding of medium to long-term and short-term fluctuations. Thank you all for your attention. In the crypto circle, when some are laughing, others will be crying; I hope everyone is in the former group!
$BTC Let's take a look at Bitcoin. It is still following the previously expected downward oscillation channel. After testing the lower edge of the channel, it is a standard rebound. This week, pay close attention to the upper horizontal range previously provided, which is a key support and resistance conversion point. You might consider it near the upper edge of the channel. This means that the future price may drop after testing the high point. Regardless of which situation occurs above, on the four-hour level, we believe the expectation is still within this secondary trend, oscillating downwards for a correction. The final participation position is still to look at the horizontal support and resistance conversion on the daily chart, around 1080-1100. Testing this position and then looking for long positions would be better. Therefore, before reaching the support level on the daily chart, the four-hour level still believes in an oscillating downward operation within this channel, and what you need to focus on is finding resistance above to take short positions.
$ETH Looking at Ethereum currently, on the four-hour level, the support around 3600 has already been broken, so it is a relatively bearish trend now. In the future, if there is a rebound to high levels, there is a probability of a return drop, just like Bitcoin, forming a downward oscillation channel. Therefore, I advise everyone to stay calm and not trade mindlessly. Our bullish positions have all exited at 3900. Now, on the four-hour level, there may be a phase of turning to a bearish action.
In the crypto circle, it's a contest between retail investors and institutions. If you do not have cutting-edge news or first-hand information, your starting line is not equal, despite countless efforts. I want to help more people learn to trade and teach them how to fish!
The article is timely; the market changes rapidly, and the focus is on real trading. The above suggestions are for reference only!
Investing involves risks, and one must be cautious when entering the market.
