Make some fluctuations, let's first review a segment simply,
Last night at nine o'clock, Bitcoin plunged to 113500, after which the fifteen-minute K line showed two buy segments testing upwards to 114500. This process was all oscillating around the one-hour EMA30. The three one-hour K line MACD indicators and trading volume were all expanding, the Bollinger Bands opened upwards, and both the fast and slow lines were being pulled upwards, indicating good momentum and visible potential for the future market. By eleven o'clock, it touched around 115500 and faced some resistance, which is exactly the position mentioned by Chiye recently!
At that time, the indicators were favorable, but the negative impact of news led to a divergence between both sides' main forces. The weakening of buying momentum prevented Bitcoin from stabilizing at 115500 at that time and instead further tested support. At five o'clock in the morning, after piercing the one-hour EMA144 moving average at 114800, it continued the downward rhythm. It was not until the afternoon that it tested 114200 for the second time before starting to reverse. After breaking through 115000 again at six o'clock, it surged by 1800 points, piercing to around 116800. Throughout this process, all key positions were provided by Chiye yesterday.
Ethereum's rhythm is the same, with even stronger momentum, and the K lines have a strong concealment. Only by looking at the five-minute K lines can we see the extremely dense narrow fluctuations, with the main force operating in increments of 25 points as mentioned yesterday. The pull-up started at 3575, and each up and down test moved in increments of 25 points. This is a method of forcing shorts, putting them on the hot seat until a round of concentrated liquidation. Chiye's suggestion for you to go long unidirectionally for harvesting is precisely considering the possibility of a breakout. Very reliable.
Now, speaking of the market, the fuel driving this round of rise comes from the aggressive positions influenced by news among those looking bearish during the process. This is the first group of people that the market needs to clear out. Currently, both Bitcoin and Ethereum have reached the turning points of 116500 and 3850. There will definitely be a struggle around this area. If the market wants to rise, it will oscillate around the center of the range to build trading volume, and in terms of shape, it may first drop and then rebound upwards. It may also extend upwards a bit before pulling back to test support again, undergoing large-range oscillations to wear down leverage. What we know now is that many insiders have already fallen and have nothing left. Meanwhile, we can party on a yacht with people of a similar kind, sleeplessly.
