Good evening everyone, I'm live streaming for you all. There will be no posts later this evening, but I have provided points for reference during the live stream. Overall, the market conditions align with our expectations, with the major coin slowly rising and pushing upwards. By the time the U.S. stock market opened in the evening, it had surged to around 115700. The major coin is still quite a bit away from our expected low of 116000. Here, the major coin seems a bit weak, and we are currently looking at the stability around the 115000 mark. I have also mentioned that as long as there is a solid 1-hour level K-line body, we can chase the long position on the right side. Currently, Ethereum is also following the major coin's upward trend to the 3716 line, which is still quite a bit away from our expected level of 3650. For those who entered, it’s time to reduce positions. We are also approaching the upper gambling zone, and as I've said, the market conditions are not just empty speculation. For the bottom long position, I don't need to say much. If you are conservative, reduce positions to gamble and minimize wear and tear.
From the current overall market perspective, it is still maintaining a slowly rising pressure trend within a volatile upward market. There is strong resistance in the 116000-117000 range. Although there has been a pullback on the hourly chart, the momentum seems slightly insufficient. The volume continues to rise. Currently, the only thing to watch for is the previous top-bottom switch position at 117000. Even if I take profits now, I would only gamble on the short position here, so don’t ask me when I will short. From the technical indicators on the 4-hour level, the upper, middle, and lower bands of the Bollinger Bands are around 115500, 113800, and 112200, respectively, and have not formed an opening. This is not favorable for short-term rises; it is expected to oscillate for some time before probing 117000. The KDJ indicator is at a relatively high position, close to the overbought zone. The MACD indicator line is below the zero axis and starting to extend upwards, and the current bearish volume is gradually weakening, but there has not yet been a clear formation of bullish continuation.
Bitcoin may experience some short-term pullback pressure, but as I mentioned in the evening, I would be happier with a short-term retreat because we are currently lacking a small-scale pullback. If it can form, then 117000 can definitely be reached.
I won’t say much about Ethereum here; just buy on the pullback. Pay attention to the 3650 level below and look at 3750/3800 as resistance before considering short positions.
The major coin is conservatively looking at the area around 113800-114500. If you're more aggressive, you can intervene directly at the current price of 115000, with a target of 117000.