Hello everyone, welcome to Wan Qian’s Trend Talks. We focus solely on the trends of mainstream coins. Research on both left and right side trading models, as well as understanding medium to long term and short term swings, will be continuously updated. Thank you for your attention. In the crypto world, when some people laugh, others cry. I hope everyone is among the former!
$BTC Let's first look at Bitcoin. In yesterday's article, if you have interpreted it, it will be very detailed about what will happen in the future. If you have long positions at the bottom, I reiterate the downward oscillation channel; your long positions at the bottom will definitely not last long. That means it could drop at any moment. If you want to short, you need to find key resistance levels. If you want to go long, it is not recommended. Since you have already gone long at some key positions and have taken a little profit, at this point, you need to think carefully and exit quickly to lock in your profits. This includes the current situation as well. If it can drop directly, you continue to buy, right? If it doesn't drop and consolidates here, you still need to wait for key positions before considering shorting. This is at the four-hour level. If we look at larger levels, nothing has happened in between; it's just oscillating in place. In the future, we can consider going long if it tests around 111,000. The overall direction has never changed.
$ETH Now looking at Ethereum, Ethereum has surged back again. Yesterday I mentioned the level of resistance; if it holds here, it will trend downwards. Now that this bullish candle has closed, it is just about close to the upper resistance level given by the channel, right? This kind of rebound is when you should take profits. Will this wave drop down? That is certainly a high probability. Currently, continue to pay attention to whether the bottom breaks, and whether a new N-type structure will emerge. Whether the descending channel of Bitcoin will reappear on Ethereum! If it doesn’t drop now, this position will start to oscillate randomly. You can think of it as a high position within a wide range of consolidation, testing previous lows for a rebound in the future. The range is reasonable. Now on the daily chart level, I prefer for you to continue to go long and watch for adjustments here. However, whether the four-hour sub-trend will continue to adjust downwards remains unknown! But the overall direction is definitely bullish. I have explained this very clearly; if you don’t understand, you can watch a few more times!
In the crypto world, it's a battle between retail investors and whales. If you don't have cutting-edge news or first-hand information, your starting line is not equal, and all the effort is in vain. I hope to help more people learn to trade and teach them how to fish!
The article is time-sensitive; the market changes rapidly, and live trading takes priority. The above suggestions are for reference only!
Investment has risks; proceed with caution.
