Let's talk about today's thoughts!
Yesterday, our longs around 119100 performed quite well, surprisingly hitting the lowest point, with a replenishment level set at 118600, but we didn't manage to add to our positions. The target was a historical high, and we made nearly 5000 points in profit.
At noon, I was discussing internally that Bitcoin and Ethereum both broke new highs, and there was a high probability of another pullback on the 15-minute chart, and sure enough, it's slowly declining!
So today is another day of looking for a bottom. The overall structure of support and resistance has changed, but the probability of a sharp decline is not high, as there has been significant net inflow into ETFs recently, with institutions providing support!
The short-term support below can be referenced at the integer level of 120,000, as determining the stop-loss point for this kind of pullback is quite difficult, so we should continue to focus on critical points. We can consider averaging in between 120000-120500, as previous concentrated trading will provide some resistance!
The short-term resistance above can be referenced around 124000-124500, where we can consider shorting. Once it breaks a new high, it can easily trigger profit-taking sell-offs, as some people will choose to cash in. Overall, we're within this range!
This is my personal view for everyone's reference!
