Hello everyone, I am Chiye, as usual, let me briefly recap: Around 8 PM last night, Bitcoin initially dropped around 104800 for a test below, but the trading volume was low, merely dampening and testing the bulls due to negative news. After a dip to around 113500, there was a rebound, and the dip point was precisely within the entry range we provided. The rebound was less than a thousand points, and although it could recover from the downward trend, the KDJ and MACD showed a double death cross, exacerbating the downtrend. By 10 PM, Bitcoin had dropped to a low of 112500, which is exactly the area we indicated for additional purchases!
This round of decline has carried out a liquidation for the bulls, and the bears did not press hard. After the trading volume in the next hourly K line decreased and did not break below 112500, the market resumed a low-volume consolidation. The entire rhythm consists of a night market rebound for repair, a downward test in the morning, and a rally in the afternoon. The whole process had little trading volume; it was merely a normal consolidation. In contrast, Ethereum's movement synchronized overall with Bitcoin, but locally it diverged. While Bitcoin was pulling upwards, Ethereum was testing downwards, influenced by the potential unloading from BlackRock and retail investors' psychological expectation of a 'waterfall if it breaks 3600.' Ethereum needs to test support downward, while Bitcoin is maintaining support and guarding the repair. It can be inferred that the mainstream and major forces are still unwilling to compromise regarding the potential space in the future market, and the surge of the new hotspot MYX also indicates that the market deserves better expectations.
So for the future market, we will maintain our rhythm, continue with the low long strategy, and conduct one-sided harvesting. The range ideas are posted below.
